Housing situation

[Dunit35]

Needing opinions.

Apartment or house, what would you do?

The fiance and I are looking for a place to live after our contract runs out next month. It seems that when we find a house we want in a good neighborhood the prices are from 600-800. Well I'd prefer to spend less then 600 so we can save money before we get married. We want a 2 bedroom house. We have a Siberian Husky, so she needs room to play.

Apartments are cheaper and could help us save money in the long run. But, our puppy won't have her own backyard. Apartments seem to range from 375-500 for a one bedroom and the bills are cheaper. The fiance wants a house and it doesn't bother me what we get. Put yourself in our shoes (college students, getting married next May, niether of us have the jobs we are working towards) what would you do?

[JBucc]

Move in with your parents.

[Dunit35]

Originally Posted by JBucc

Move in with your parents.

Negative.

[Arrowhead Pride]

Apartment until you get more settled.

[Mile High Mania]

Young... no real jobs... likely no big savings, etc.

I don't know that you're going to get great rates from a lender on buying a home, plus that is a debt that you may want to avoid since you don't have real jobs making good money. I'm just making that statement based on what you said... it could be different.

I would say, do the apartment thing until you have saved some $... and until you're married. You'll enjoy moving into the home with $ in the bank as a married couple.

[Mile High Mania]

Also, start watching your credit scores... avoid piling up debt now. You'll be better off when you go for a mortgage.

[Stewie]

When I got sick of living in apartments, but wasn't ready to buy a house I found a small rental house for about what I would have paid for an apartment. Look around, you may be surprised. Smaller duplexes (ranch style) are usually affordable.

[Bill Lundberg]

Originally Posted by Mile High Mania

Young... no real jobs... likely no big savings, etc.

I don't know that you're going to get great rates from a lender on buying a home, plus that is a debt that you may want to avoid since you don't have real jobs making good money. I'm just making that statement based on what you said... it could be different.

I would say, do the apartment thing until you have saved some $... and until you're married. You'll enjoy moving into the home with $ in the bank as a married couple.

I'm pretty sure he means renting a house not buying one.

[Mile High Mania]

Last one... get a free credit report, check out www.myfico.com (I think that is the site). You can pay for reports, but I would suggest working on your credit score and talking to a lender about a year in advance.

It costs you nothing to talk to a lender, and let them know up front "you're not going to convince me I can own it now"... if they're any good, they'll work with you and gain your trust, knowing that you'll be using them in a year.

The good ones can help you with a realtor, etc.

Just some friendly advice. I think you should start making sure your credit score, finances, etc are in line a year before you really want to buy. It takes some time to rebuild bad credit and the better your score... the more house you can afford at a lower rate.

And, since this will be your first house... likely a starter house. Find something reasonable in a good school district, that way the resale value is good and when you try to move later... you may sell quicker.

[Mile High Mania]

Originally Posted by Bill Lundberg

I'm pretty sure he means renting a house not buying one.

Ahhh... didn't really consider that one.

If it were me, I'd take the house over the apartment nearly every time if the cost was the same or cheaper.

Ok, screw it ... I'm outta here.

[Dunit35]

Originally Posted by Stewie

When I got sick of living in apartments, but wasn't ready to buy a house I found a small rental house for about what I would have paid for an apartment. Look around, you may be surprised. Smaller duplexes (ranch style) are usually affordable.

See that might be the problem about an apartment. My fiance has been living in this one since last August and said she doesn't want to live in one anymore. I'd just feel so much better going into marriage with our savings account in the 4 digits then less then a thousand.

[Coach]

Originally Posted by Mile High Mania

Also, start watching your credit scores... avoid piling up debt now. You'll be better off when you go for a mortgage.

Exactly. Me and the miss are in the early stages of purchasing a home, but having a clean and good credit can do wonders, especially when it comes to going for a mortage. I take my monthly bill payments very seriously. Once we get some of our bills paid off next year, most of the money would very deftinaly help on our mortage payments.

[Dunit35]

Originally Posted by Mile High Mania

Ahhh... didn't really consider that one.

If it were me, I'd take the house over the apartment nearly every time if the cost was the same or cheaper.

Ok, screw it ... I'm outta here.

Yes, if they were the same price I would take the house every time. But we've been looking for a few weeks now and every house that would cost the same as an apartment has been in the ghetto.

[Coach]

Originally Posted by Mile High Mania

Ahhh... didn't really consider that one.

If it were me, I'd take the house over the apartment nearly every time if the cost was the same or cheaper.

Ok, screw it ... I'm outta here.

Sure, but that's without the taxes and the other bills (i.e. water, electric)

Dunit, try to find a apartments that would offer maintence, and at least the following three (free cable, trash, and water) Me and the miss live in the area where the cable, trash, and the water are free, we only have to pay for the electric.

[Dunit35]

Originally Posted by Mile High Mania

Also, start watching your credit scores... avoid piling up debt now. You'll be better off when you go for a mortgage.

I don't have credit right now. I bought my fiances ring in February with my first credit card (kays card). It isn't supposed to be paid off until January but I should have it done next month.