It’s bitten us. We’ve lived in Alabama for less than seven months and we’re already itching to move. Actually, we’re being forced to move but whether it’s by force or choice we’re leaving in five months and that means we’ve got to find some place else to live. Where?
We don’t know. We may not even know until the end of March. Two more months of not knowing, which is actually eternity for an impatient person like me. We’ve got an inkling though and we’re guessing we’re moving to a really big city that most people like to call our nation’s capital. This time we’ll even get to unpack all of our boxes (!) because we’ll definitely be there for over a year…maybe even four!
Now, the dilemma that we’re facing is what type of housing do we get? Actually we’re facing about eleventy-two dilemmas because there are so many options in an area that big. For instance:
- Do we live closer to the city and sacrifice space but gain quick access to everything?
- Do we live farther out in a suburb, which means more space, but less time spent in the city?
- Do we go with a house, townhouse or condo (which would have utilities covered in the monthly fee and also would provide free access to indoor pools, fitness rooms, etc)?
- Do we live north of the city or south of the city? Living right in the city is pretty much out of our price range, unless we want to experience drive-bys every night.
There are pros and cons for each one and we haven’t been able to determine which option/s outweigh the others.
Here’s our question we’re asking you though? Do we buy or rent? No matter what type of structure we decide to live in (home, townhouse or condo) we’ll have the option of buying or renting.
He says buy. We’ll most likely be there for more than two years. Buying a house is always an investment. It’s great to own a house. The interest rates are at an all time low so we could get a really good deal on a mortgage.
She says rent. What if we’re only there two years? Take a look at housing prices over the last couple of years…we could have a sinking ship instead of a house on our hands. What if we buy in the wrong neighborhood because we’re outsiders and know nothing about the good areas and then we aren’t able to sell it and then nobody else wants to rent it because the rent’s too high to cover our mortgage which is overinflated and then we’re stuck with paying the mortgage on a house we’re not living in while the weeds grow, the paint chips and the mice move in? And owning is so expensive when you add in all the extra costs.
So, what do you think? Buy or rent? Go ahead, be honest. Oh wait, I’m talking to the readers who hung me out to dry for our last S/He Said (remember, the mugs? I can never forget). Of course you’ll be honest.
P.S. Nicole, notice I wrote nothing about fixing anything up. The only way I’ll do that is if you move in next door and we tackle a fixer upper together.
P.S.S. This entry is shorter than I would have liked. Last time I had the arguments, then the rebuttals then the closing statements…or something like that. But this time I’m toggling between windows: I’m writing this post as I’m searching the MLS listings, searching rental listings, studying the metro map, studying google maps…