Moving-WWYD? Long post warning!

AmandagStark · June 2014

DH & I have decided we want to move out of our current apartment for numerous reasons, but we can't decide what route we want to take in relation to where we want to move. Here is the dilemma:

Option 1: move somewhere small & cheap for two-ish years to save $ for a house down payment. This would mean an obvious sacrifice in space and "luxury items/ things" such as a dishwasher, extra bathroom, storage, backyard, attached garage, etc. This would mean less space for LO to crawl and enjoy & no space to have friends over, etc. Saving $ for the future is appealing though!

Option 2: move somewhere similar in size & price to where we live now. I am going to school currently for my MSW & will graduate in December. I will hopefully find a great job w/ a salary that will help us in our house owning dreams. This means paying $1050 [or more?] in rent per month every month again and not saving right now, but after (fingers crossed) I get a better paying job w/ my new degree, we will be on the way to our house owning dreams. This also means space for LO as he grows & starts to crawl & walk!

I go back & forth every day it seems like. Any advice??

CousinVicki · June 2014

well how much more will you get in your field once you graduate, and are you pretty much guaranteed this?? If not, i would go with option 1!

jersgirl2013 · June 2014

We're doing option 1. We move the end of the month to an apt in our same complex but with less frills (no granite, stainless steel, etc) for $525 less. We are putting that money away in our down payment fund.
If you go option 1 and you get a job with great salary, you'll be able to save even more!

AmandagStark · June 2014

I am hourly now, so with a different position in my agency that comes w/ a salary position, I would be making twice what I make currently. We've been talking about me switching positions once I have my degree in hand, but, as most everything, it's not guaranteed. Thanks for the opinion!

huntjul · June 2014

AmandagStark said:

DH & I have decided we want to move out of our current apartment for numerous reasons, but we can't decide what route we want to take in relation to where we want to move. Here is the dilemma: Option 1: move somewhere small & cheap for two-ish years to save $ for a house down payment. This would mean an obvious sacrifice in space and "luxury items/ things" such as a dishwasher, extra bathroom, storage, backyard, attached garage, etc. This would mean less space for LO to crawl and enjoy & no space to have friends over, etc. Saving $ for the future is appealing though! Option 2: move somewhere similar in size & price to where we live now. I am going to school currently for my MSW & will graduate in December. I will hopefully find a great job w/ a salary that will help us in our house owning dreams. This means paying $1050 [or more?] in rent per month every month again and not saving right now, but after (fingers crossed) I get a better paying job w/ my new degree, we will be on the way to our house owning dreams. This also means space for LO as he grows & starts to crawl & walk! I go back & forth every day it seems like. Any advice??

I would go with option 1. I know it's a sacrifice in the here-and-now, but saving no money for the future wouldn't be a good choice.

jennlin · June 2014

option 1

sleepy33 · June 2014

I would pic option 1.

sooner1981 · June 2014

Definitely option 1. Kids start really needing and loving "space" when they are kindergarten/early school aged. Until then, small spaces may even be better because you can always see/hear them, no matter where you are in the house.

AmandagStark · June 2014

@Brandontricia‌ : great idea! I've never considered that!

Jalee85 · June 2014

Option 1

norbert5 · June 2014

We just did option one, kind of. We lived in a crappy little duplex in out new city for a little over a year while we rented out our house in our old city.

I am not going to lie, it was tough. But we kept our eye on the prize and toughed it out. It was worth it.

Now we have a great house with a huge yard in an amazing neighborhood. We also put over 20% down on the house so no PMI, yay!

Izzies · June 2014

We are doing something similar to option one. We are moving out of our home and renting it out. Because of DHs job we will be moving into a apartment complex where all rent, utilities, etc will be payed for in exchange for DH being on call on his off days.
It was a really hard decision but we are doing it so I can stay home AND pay off our debt (due to unexpected insurance plan changes we have a ton of bills from LOs birth )
It will be hard but it will also be a relief

scamberlous3000 · June 2014

Brandontricia said:
Option 1. Have you ever looked into property management living arrangements?

We did it for 5 years. We lived rent free while I went to school full time and DH worked. We saved a ton of money, got out of debt, and made a little extra during the summers taking care of their pools.

Can you explain the property management aspect further? How did you go about doing this? DH and I are both licensed Realtors too, so that could really help us find something like this. @Brandontricia‌

[Deleted User] · June 2014

I grew up in a tiny apt in a city so I think kids don't need as much space as you might think...and maybe this can be a great opportunity for your family to get out more and be active outside etc., so if you would be ok with sacrificing some comforts for a couple years I would go with option 1

muffyvonmuff · June 2014

Will you have student loans when you graduate? I pay $900+ a month to SL and it suckkkssss. I'm very happy DH and I sacrificed for 5 years and used our savings to buy a multi we lived in. The apt was very small but it was well worth it owning a big house now.

Have you looked into rent to own options?

AmandagStark · June 2014

Option 1 has been finalized! Thanks for the opinions!

Want a personalized experience?

Moving-WWYD? Long post warning!

Re: Moving-WWYD? Long post warning!

Choose Another Board

Search Boards