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?

[Dunit35]

Originally Posted by Coach

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.

The apartment we live in now has us paying the electric and cable/internet.

[Coach]

Originally Posted by Dunit35

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.

12 months, no interest, right?

Never took out a loan for either college or a vehicle?

[Coach]

Originally Posted by Dunit35

The apartment we live in now has us paying the electric and cable/internet.

Not bad. Usually though, (In my experience) water sometimes tends to cost more, especially if you are NOT using any a/c.

[Bill Lundberg]

Originally Posted by Dunit35

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.

If it's an interest free card for a set period and you really want to build credit then don't be in such a rush to pay it off. By making regular payments on time you are building a credit history. If you pay it off and don't use the card or worse yet close the account it will have a negative impact on your credit as opposed to a positive one.

You get good credit by having a modest number of accounts that are open and active. In some cases having no credit is worse than having poor credit.

[Dunit35]

Originally Posted by Coach

12 months, no interest, right?

Never took out a loan for either college or a vehicle?

No, unfortantly I am paying interest on it. I think since March interest has added another 30 dollars to it. That's why I'm trying to pay it off asap, that and it will help my credit.

My vehicle was given to me by my grandpa. I do have a couple loans for college but I think they had to be put under my dads name until I graduate.

[Mile High Mania]

Originally Posted by Dunit35

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.

I'm not an expert in the field... but I have stayed at a Holiday Inn Express recently. It may sound weird, but you're going to need a credit history that shows you can pay your bills on time. I don't think you're going to get too far without a credit history.

Maybe I'm wrong...

I'm also not surprised that the cheaper rent houses are not in the greatest of neighborhoods. I'd stick with an apartment scene for now. Sure, it sucks for the dog... but, it's short term.

[Dunit35]

Originally Posted by Coach

Not bad. Usually though, (In my experience) water sometimes tends to cost more, especially if you are NOT using any a/c.

We almost have to use the A/C in here. Electric is probably 100 a month here. It gets really hot in here without, opening the windows doesn't offer much cooling. We must be in the bad part of the complex, not much of an opening for windows to get outside air.

[Dunit35]

Originally Posted by Bill Lundberg

If it's an interest free card for a set period and you really want to build credit then don't be in such a rush to pay it off. By making regular payments on time you are building a credit history. If you pay it off and don't use the card or worse yet close the account it will have a negative impact on your credit as opposed to a positive one.

You get good credit by having a modest number of accounts that are open and active. In some cases having no credit is worse than having poor credit.

You are saying that if I continue paying it off as quickly as possible it could hurt me?

What I am saying is, the credit report people don't see that I paid off a credit card 5 months in advance?

[Mile High Mania]

http://www.myfico.com/

Check that site out - there's a forums section that could be helpful for questions like this one. And, there's a TON of helpful info all over the site.

[kepp]

It depends on what your long-term goals are. Do you want to eventually own a home? Take the option that will allow you to save a down payment quicker. Don't accumulate stuff/debt now...there'll be plenty of time for that. And start building your credit. Get a couple credit cards, make minor purchases each month ($50 - $100) and pay them off in full each month. With most CCs, you won't be charged any interest if you pay off the balance within one billing cycle. If you do go the apt route, try to find out (not sure how) their policy on returning deposits. There are a lot of apt complexes that will literally make stuff up so they don't have to give your $$ back.

[Dunit35]

Originally Posted by Mile High Mania

http://www.myfico.com/

Check that site out - there's a forums section that could be helpful for questions like this one. And, there's a TON of helpful info all over the site.

I'll check it out.

What angers me is checking apartments on here and they look good but then you go and drive by them and they look like crap.

[Mile High Mania]

Originally Posted by Dunit35

I'll check it out.

What angers me is checking apartments on here and they look good but then you go and drive by them and they look like crap.

The evil of the Internet... if it looks "too good to be true", it probably is too good to be true.

[Coach]

Originally Posted by Mile High Mania

I'm not an expert in the field... but I have stayed at a Holiday Inn Express recently. It may sound weird, but you're going to need a credit history that shows you can pay your bills on time. I don't think you're going to get too far without a credit history.

Maybe I'm wrong...

I'm also not surprised that the cheaper rent houses are not in the greatest of neighborhoods. I'd stick with an apartment scene for now. Sure, it sucks for the dog... but, it's short term.

Heh, good line on the Holiday Inn Express. No, you are correct on the credit history. Usually, if people have a very solid credit history, and they are capable of paying their bills on time, and no missed payments, more often than not, they would be approved for a big mortage, provided that their salary will be sufficiant enough to pay it, of course.

Usually, it a good idea to buy stuff that is around the $400 to $600 and most stores have that gimmick of 12 months no interest for purchases of $399 and up. Start off paying off those first to build up your credit.

For example, in March of this year, at Circuit City, I recently bought a new computer, with Windows Vista, 3.0 Ghz, 2 GB RAM, 22 inch widescreen monitor and it had a free printer/fax/scanner in one, thrown in the package. 14 months, no interest for it.

It costed me $1150, but I got $320 back from rebates, and I used that to chuck off part of the payments. And I'm deftinaly gonna get this paid off before the end of the year, easily. About $500 more to go.

[Dunit35]

Originally Posted by kepp

It depends on what your long-term goals are. Do you want to eventually own a home? Take the option that will allow you to save a down payment quicker. Don't accumulate stuff/debt now...there'll be plenty of time for that. And start building your credit. Get a couple credit cards, make minor purchases each month ($50 - $100) and pay them off in full each month. With most CCs, you won't be charged any interest if you pay off the balance within one billing cycle. If you do go the apt route, try to find out (not sure how) their policy on returning deposits. There are a lot of apt complexes that will literally make stuff up so they don't have to give your $$ back.

That's what I've been thinking. Long-term an apartment could save us an easy 150+ a month and over a year or two (two years left for school) and we could easily use it for a down payment on a house. We'll have to get a new car sometime when we get married both of ours aren't the best and are high mileage. I could just see us easily paying over 1K on a house, bills, auto insurence, health insurence, etc. When we would only be making 2K a month. What if something happened to a vehicle, would we have to wait to fix it because we don't have the money. With an apartment, saving that money, we could fix something real quick.

As my brother said "if you say you can afford this place, it doesn't mean you should go get it". Find cheaper stuff, he says to get an apartment.

The more I talk to you guys and him, I'm hoping we can just get an apartment.

[Dunit35]

Originally Posted by Mile High Mania

The evil of the Internet... if it looks "too good to be true", it probably is too good to be true.

Yeah, we don't know ALL the bad areas around here. So, we're saying "hey, 550 a month for this two bedroom place, awesome lets check it out" we go there and it's in the ghetto.

Funny story. The other day I found a 3bdrm, 1.5 bath for 500. The old lady says "real quiet neighborhood". We go to check it out and the first people we see in the neighborhood are 3 cop cars with lights flashing at one of the houses.