We currently live in a cute little 2 bedroom condo. We've been wanting to sell for a while, and put the condo on the market right before we learned we were pregnant.
Fast forward 3 months, and we have had barely any interest. 4 other units in our circle are for sale, 2 of them for $15k less than ours. We can't afford to go down any further in price without losing our savings for the down-payment on the next house. We are leaning towards renting and buying a new house we've been eying since Jan.
We really cannot fit here when baby comes, because I work from home and am required by my job to have an "office" workspace. DH commutes an hour both ways to work, spending $75 a week in gas...plus we're currently paying $200 a month for a storage unit because we have no room here. If we buy the house we want near DH's work, we'll only end up paying about $200 more a month than we currently do if we rent our condo. To us, it sounds like a no-brainer decision.
BUT the catch-- Our condo board is on a rampage to ban rentals. For the past year, they have been trying to make it so no owners can rent. They thought they passed this rule, but then learned the vote they held wasn't legal. We were supposed to re-vote this month, but that meeting was cancelled. So, since January we have been in limbo on whether or not we can rent.
DH wants to say, too bad they've had enough time, and go forward with renting. Legally, we are within our right. But, I'm nervous that we're going to rock the boat too much, and end up with a backlash. The other part of me is soo sick of being in limbo and wants to just say screw it, let's do what's best for us.
I am SO stressed about this situation it's not even funny and I'd like to get some opinions one what others might do if you were in my shoes. Would you go ahead and rent? Would you make do in the condo until it sells? Would you just keep waiting for the board to get their act together?
Sorry this is long...thanks for reading! I appreciate anyone's advice!