Buying or renting: Scenerio!

Leveraging, renting vs owning, making an investment or buying a home?
florch
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Re: Buying or renting: Scenerio!

Post by florch »

Agreed with you in principle and practice.

But not going through the thought process may short change us of some possibilities. Maybe there's something you can cut out of the budget or a way to increase income. Sometimes you don't find these things without adversity or sacrifice. Maybe there are more creative solutions out there - everyone's situation is different!
Jack's Girl
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Re: Buying or renting: Scenerio!

Post by Jack's Girl »

In high school I took a financial management course and did a project on renting vs. owning. Concluded that renting was the better plan.

Rented until I got pregnant. Moved from a rental apartment to a rental townhouse. (At that point we were living on a single income in order to confirm I could afford to stay home and/or build up our savings to extend my time at home if we couldn't afford my 'retiring.')

At about 5 months pregnant, we started to think about buying a house. Put in an offer on one but backed out due to nerves. Two months later (7 months pregnant) we suddenly bought a house (it was a private sale that we came across by accident.) I was so relieved even if we didn't move in until baby was 3 months old.

I was amazed at how important owning a house was to me. Suddenly the whole rent vs own argument was ridiculous. I had to own a house.

All this to say that your attitudes might change as the pregnancy progresses. What seems logical in month 3 might seem ridiculous in month 7.

(BTW: now at the next stage of life, with a decidedly empty nest, within the next 18 months we are selling and moving into a rental, completely changing our lifestyle. The security I wanted when starting my family is an anchor to us now and we want the freedom to experience different styles of living - urban and vagabond are the first two that spring to mind.)
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kcowan
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Re: Buying or renting: Scenerio!

Post by kcowan »

We bought our first house before we were married. The economics in Sarnia at the time definitely pointed to ownership. Then the company moving policy kicked it and was tilted towards owning by covering all the brokerage costs during 3 moves. After retiring in 1992, normal economics kicked in and we have rented since.
For the fun of it...Keith
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