Renting - Could be Awesome?

AnonymousRegular · February 2012

Thank you SO much to everyone for your support in my last post. The last 24 hours have been harder than I thought they would. Probably because SOMEONE won't leave the house and just wants to mope around here.

Anywho. Paperwork is being filled out, but the only looming issue is the house.

I love this house. I've put blood, sweat, tears and LOVE into this house. However, the internet has me pretty convinced I won't be able to refinance it in my own name. I just don't have the income, now that my household income has been cut by over 60%. Plus the costs of maintenence.

So tell me all about how wonderful renting an apartment will be with a toddler and two dogs.

So far I've got:

Access to a pool.

Free gym membership.

More time with my baby.

Walking the dogs with a toddler in the summer heat/winter rain everyday at 5am. Oh wait, that's not a plus. That should be on the "shoot me in the head" list.

But seriously. If you live in a condo/apartment/sold your house to rent ... can you tell me the things you love about it? Better to rent than be broke/spend all my money maintaining a house, right?

userdeleted · February 2012

If I was on my own with a child I definitely think I'd prefer renting. No yard maintenance. No worries about pest control - if you see a bug you just call and they send someone out. If something breaks, they come fix it. Plus the pool right there!

I would make sure to get a ground floor apartment or it might get difficult to get everyone out the door, especially with pets.

angelaggie · February 2012

I agree with Rach. The dogs do make it a little rough, but heck, it can definitely be done. Depending on the part of town you live in I'm sure some of could help out. If you're up north I'm more than willing. Since I stay at home I've become the go to dog person among friends.

mcgee · February 2012

No maintenance costs, cheaper utilities, renter's insurance is cheaper than homeowners insurance, there's nothing to remodel so there's no temptation to spend all of your extra $ fixing up the place. Seriously, the times we've rented we've saved SO much money vs. owning. Plus once you are done with the current home you're in, you have the freedom that comes with renting: if you don't like the place, sublet it and move or move as soon as your lease is up. If a better job offer comes along on the other side of town or somewhere out of town you'll have the freedom to pick up and move when you need to, instead of hiring a realtor, staging the house, keeping it clean while it's on the market, worrying about property values, etc., etc.

In your situation, I'd DEFINITELY want to rent for a while. Plus, you've been dealing with two incomes and unpredictable spending. Renting an apartment for a year or so may give you a chance to get a really good feel for your budget, what your actual expenses are, etc., and as I said above, you'll have fewer expenses, so it might even result in you being able to set aside a nice emergency fund for yourself.

amycathy · February 2012

What about renting a house or condo? Is that an option?

I am so sorry you are going through this but I know things are going to be so much better for you and your dd when it's all over. Hugs, dust and prayers for you. If you need anything I live north and I am a good listener.

Amy

shanwalk2 · February 2012

With dogs, i would look into renting a house or duplex with a yard. Dogs and apartments are not fun.

Abrooks · February 2012

I think just having your own space and the peace that comes with that will be huge. No worries about fixing anything. Great way to save money. No yard work. No money pit. And remember - it's only a season. It's not forever but for now, it'll be fresh and new and yours. And that will be nice.

MrsMillerTime · February 2012

Ditto the others - renting will give you an incredible amount of stability that will be huge for you right now. Especially if you find a place that you love and lock in a longer lease.

With the dogs, though, I would definitely look into a townhouse or even a small 2-3 bedroom house. Once you factor in pet deposits and just the sheer space dogs take up, you probably wouldn't be very comfortable in an apartment. At least a townhouse or house would give you the flexibility of a yard without the responsibility of maintaining it (since the owner would probably have a yard service included in the monthly rent).

agran · February 2012

ditto all of the above plus possible onsite security in case things get ugly.

misjenn · February 2012

We sold our house in Oct and have been living in an apartment ever since. I can honestly say I thought I would HATE it. I would stay up with anxiety how I was going to deal with 2 kids and 2 dogs in an apartment. I was completely wrong! It is really great (minus the 2 person kitchen). I take the dogs out in the am when the kids are asleep then again at nap time then when my DH gets home and before bed. We do have a ground floor apartment right off the courtyard so it is right outside our door where I take the dogs. We also have a direct access garage that is attached to our apartment. Really it isn't bad at all plus we have been able to save even more because our electric, water and gas has been super low since moving into the apt. We looked at renting a house and it was going to be just as much as a mortgage (Austin has a big renting community) on top of all the bills we wouldn't be saving anything at all, and most houses you have to do the yard maintenance yourself.

Keribells · February 2012

I'll email you

atlantic · February 2012

We considered apartmentsvwhen we first moved back to Austin. A lot have dog parks now! We ended up in a duplex in Westlake but the rent was super cheap. I negotiated it lower for 18 month term and we had a huge yard. Then didn't even end up staying the term, found them a sublet when I got pregnant with V. The last few times we've rented, I've always been able to negotiate rent down...can't hurt to ask! When we moved back to Austin there were plenty of duplexes that were the same price as nicervapartments. The duplexers were not as nice as the apartments, but the convenience with the dogs really won out.

mrs.wildman · February 2012

I think renting is awesome and miss it a lot now that I'm a homeowner. Long gone are the days that I can just call my landlord and make him/her fix something (and PAY for it)... While I'd LOVE the perk of a pool/gym, I'd probably try to get a house/duplex if only cause of the dogs.

Ruby44 · February 2012

I kept the house after my divorce and didn't think I could afford it either. If your child goes to day care, you might look into Workforce Solutions. They will provide you with a very substantial discount for day care if you qualify, which might help you afford your mortgage. Could anyone co-sign on your refinance? Also, there is a government program that provides mortgage assistance if you qualify.

I do think an apartment/duplex/rental house would be perfectly fine, but if you decide you want to keep your house, there are options for financial assistance.

Xtina712 · February 2012

I currently live in an apartment. I don't have kids but DH and I travel a lot for work so at this point I enjoy not having the work of a house or being too tied down. You've already covered most of the things I like (pool, gym) but it's also great that when something breaks or needs fixing (dishwasher, leaky pipes, etc.) someone else does it all and pays for it. I think this saves a lot of money and time that I really don't have. I don't have to worry about yard work which is a plus. Also, because I am home alone often I feel a little more protected in the community than I would on my own.

The downside for us is no grill (there is a communal one but not as convenient as having your own). Also, prices can change from year to year which can suck if you really like where you are at.

My parents separated when I was one. My mom and dad sold their house and I moved into an apartment with my mom. My mom later rented a house when I was about four and bought one when I started Kindergarten. I know now how hard it was on my mom but as a kid I had a great time. I definitely don't think you need a house to have a home with your little one. Good luck! I hope it all works out.

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