Josephina Posted October 14, 2011 Posted October 14, 2011 Hello, I've read conflicting information on this, so I thought I'd ask people actually going through the process what they are doing. Shortly I will be leaving the marital home, and I need to decide between the following: a) rent in my desired location (expensive, older properties) b) rent farther from desired area (cheaper, variety of properties) c) buy 2 bedroom condo in desired location, kids share room (both same gender) d) buy 3 bedroom condo away from desired area (each kid have their room) I'm needing/wanting to deal with: commuting myself to work and the kids to school, being closer to a rec centre or gym, not wanting to spend a lot on rent as it seems like throwing the $ away, get my foot back in the real estate market, I don't want a place that needs a lot of work, I don't want a house for maintenance reasons, I don't want to move around a lot although I would go from home owner to rental to home owner if need be, and there might be more, lol. I know where our "ideal" area is, which is closer to their school and my work, but it costs so much more to live there. The school/work location won't be changing anytime soon, as far as I know. I'm concerned about the time and energy we put into commuting, when we could use that time for more appealing things. How acceptable is it for kids to share a room? I'd give them the bigger room, and some of our options would have them having an ensuite bathroom (that is a small bathroom in the main bedroom for those not familiar with that term). Kids are 12 and 6. I don't actually know anyone whose kids share a room, so we would be out of the norm in our social circle. How appropriate is it to buy shortly after leaving the marital home? I've read that it is not a good idea to buy right away, but this makes no sense to me. The mortgage/taxes/hoa fees would be comparable to rent! If you have a reason why that I haven't thought of, please fill me in! Lastly, our "ideal" area is closer to our city centre, so there is a need to consider the various areas carefully - there is a little bit more crime/poverty/drugs, although the homes cost more. I don't think the STBX has an issue with the areas I'm considering, as we have taken the kids there lots together (a lot of Sunday afternoon walks for coffee and exercise). We would just have more concerns about them exploring out alone than we do in the marital home area. Either way, none of my options have me staying in the marital home neighbourhood, as it is out of the single girl budget. Thoughts? I've been kind of obsessed thinking of where to move, and how to get there. It will be necessary to make a decision shortly, likely by Christmas.
stargazer5466 Posted October 15, 2011 Posted October 15, 2011 Its a buyers market right now,and if you have good credit purchase right away. No need in flushing rent money down the toilet. Whenever I have rented, I always ended up staying a lot longer than I had planned.
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