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Your Two Cents: Is Buying a House One of Your Goals?

Thu, 08/28/2008 - 5:30am by SavvySugar
458 Views - 35 comments

The housing crisis has made it clear that owning a home isn't all roses. Beyond the financial commitment that comes with owning a home, including maintenance and a mortgage, it suggests a sense of permanence that not everyone is comfortable with. Is buying a house one of your goals?

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35 Comments Add a Comment

  • cmd0610's picture
    cmd0610
    1

    We want to buy a vacation home in France . . I think we'll be moving too much over the next 5yrs to be able to buy a house in the cities we will work in . . . and not a very big house- I hate big houses, something small, i.e. "just right", possibly in Pau (Southern France) bc we could end up there someday with my fiance's company. For now his company pays our rent so I don't mind renting Laughing out loud.

    12 weeks 2 days ago Report Comment
  • Lovely_1's picture
    Lovely_1
    2

    My bf owns a home but I dunno...we have lived in it for 4ish months and it's just not what we really want...
    So we are going to look around at some other options first Smiling
    But eventually, yes, I want to own a home WITH him! I don't think my name is going to be on this one...but we talked and we'll see!

    12 weeks 2 days ago Report Comment
  • gumdrops334's picture
    gumdrops334
    3

    I'm still in college, in a very student-y apartment. However, once I'm married and settled down, I definitely hope I'll be looking into buying a home!

    12 weeks 2 days ago Report Comment
  • FinnLover's picture
    FinnLover
    4

    It's a short-term goal for us. We feel like we're wasting $2000 on rent every month right now. Not fun.

    12 weeks 2 days ago Report Comment
  • CoralAmber's picture
    CoralAmber
    5

    My boyfriend and I are hoping to be able to afford one in a couple of years, but until then we are just saving up.

    12 weeks 2 days ago Report Comment
  • javsmav's picture
    javsmav
    6

    It's so far in the future that I just don't think about. And I actually don't care. Home ownership freaks me out--so much responsibility and you are tied down. I love my month to month lease and being able to call my landlord when something needs to be fixed. Plus I'm super nervous because I'm sure with my luck, the moment I buy a condo the market will crash and I will end up owing half a mill on a house worth 2 cents.

    12 weeks 2 days ago Report Comment
  • Liss's picture
    Liss
    7

    We just bought our first home 4 months ago. We love it!

    12 weeks 2 days ago Report Comment
  • sonya ina's picture
    sonya ina
    8

    My husband and I bought our own place last July. I always told myself that I never wanted to rent, because I feel like it's just money thrown away every month. We were lucky enough to find a really cute townhouse in a nice area and have made it our own :]
    Hopefully we can put enough equity into our current place and buy a detached home in the next 5 years or so!

    12 weeks 2 days ago Report Comment
  • supercoolnat's picture
    supercoolnat
    9

    Yes, definitely in the future, but just not right now. Our goal is to relocate in ~3 years. Plus, in the area that we live, renting is a better deal than buying. To get a comparable condo, even just the interest portion of a monthly mortgage payment would be more than our current rent, so we'd be throwing away even more money if we owned. So for now I just watch HGTV to live vicariously through other people's home ownership experiences.

    12 weeks 2 days ago Report Comment
  • bellaressa's picture
    bellaressa
    10

    It is a dream of mind to own a home. It may not be for some years but I am making ways to for the dream to come true. It represents a lot to me in my life, having a safe haven, roots, and something of my own. I am not afraid of the responsiblity but I can wait until I am ready.

    12 weeks 2 days ago Report Comment
  • gabiushka's picture
    gabiushka
    11

    Yes, for my husband and I designing and building our house is one of our goals.

    12 weeks 2 days ago Report Comment
  • megln1022's picture
    megln1022
    12

    someday. i'm so not settle with what i want to do in life and where i want to end up that it'd be pointless to buy now (plus i can't afford it). so maybe in 5 years or so i'd reassess

    12 weeks 2 days ago Report Comment
  • gab6784's picture
    gab6784
    13

    I definitely want to buy a home in the future, I always wanted to own my own home and have a backyard and pool, garden, the works! Probably can't afford one with all of that but it would be fabulous if I could Smiling

    12 weeks 2 days ago Report Comment
  • lawchick's picture
    lawchick
    14

    I bought a house two years ago, and now I'm considering going back to renting. I totally underestimated maintenance costs for an older home. We can't afford it so we just live without some things that have broken (like the dishwasher; I did however get the air conditioning fixed, it's too hot in the deep south to go without).

    12 weeks 2 days ago Report Comment
  • alikat07's picture
    alikat07
    15

    We want to buy a house in the next 2-5 years. While we are late 20s/early 30s we still don't know where we will settle and until we are sure we aren't buying (esp. with the market the way it is!). I'm finishing up graduate school, so hopefully we'll like the city where I find my first job. Otherwise we'll be renting until we get to the right city.

    12 weeks 2 days ago Report Comment
  • elle j's picture
    elle j
    16

    Yes, I dream about my hypothetical home almost daily! Gardens of all types (vegetable, picking, rose, etc), pool, beautiful patio with a trellis covered in wysteria, an outdoor kitchen with a wood burning oven, thats just the beginning. A GIRL CAN DREAM!

    12 weeks 2 days ago Report Comment
  • Renees3's picture
    Renees3
    17

    We're actually looking at homes right now. It's a big dream of ours to own a home and prices are so good right now, some places our mortgage would be a lot less than we're paying rent!

    12 weeks 2 days ago Report Comment
  • hmcmcd's picture
    hmcmcd
    18

    of course! We actually tried to buy a home a few months ago, but b/c both of us work for ourselves, we would have to do a "No Documentation" loan. We have Excellent credit but the amount of money needed to put down on a house w/ a no doc loan is CRAZY!
    At first the mortgage guy approved me with the amount of money that I had in savings then he called me about a week later and said that the mortgage restrictions are tighter now b/c of the crisis, so we would need an additional 15,000 to put down! So for now we are just waiting to save up the rest of the money...

    12 weeks 2 days ago Report Comment
  • psterling's picture
    psterling
    19

    Hubby and I just bought a house this month. I think before I was married I didn't want to be "settled" but now that we're married with careers, its not like we were realistically going to up and move to Rome or something so it just made sense. We're thrilled and can't wait to move in!

    12 weeks 2 days ago Report Comment
  • valancyjane's picture
    valancyjane
    20

    We hope to buy in the next 6 months or so. If the market weren't where it were, I don't know if we would: Our finances could be a lot better (but whose couldn't?) and our apartment meets our needs and is super-cheap. But we want to buy eventually and if we can get through the mortgage process this seems to be the best time to buy. So, here we go. After Labor Day is when we've said we'll get serious, so this is my last few days of freedom!

    The permanence thing scares me a bit. I really don't want to stay in this town -- I hate the heat, it's sprawl-y and I don't have many roots here even after 9 years. But my husband's from here and has a lot of family and friends here, and I would have a hard time convincing him to move just because of the weather, you know? So I'll put up with it for a while longer.

    12 weeks 2 days ago Report Comment
  • Martini Rossi's picture
    Martini Rossi
    21

    Yes, Im looking now. I really want a townhouse or condo. Im hoping to purchase one by next year.

    12 weeks 2 days ago Report Comment
  • jacrabbit84's picture
    jacrabbit84
    22

    We're newlyweds...and we owned our own home within a month of getting married. We took that $30K that the "average" (??!!) couple spends on a wedding and put it towards a healthy down payment.

    12 weeks 2 days ago Report Comment
  • lizs's picture
    lizs
    23

    We plan to buy once we are married and once we figure out where we'd actually like to live (or will be living for work for more than 2 years)...I never thought I'd be the type to settle down, but it turns out I'm at least the type to invest!

    12 weeks 2 days ago Report Comment
  • chatondeneige's picture
    chatondeneige
    24

    I'm still so young - I don't think anyone should be thinking about home-ownership if thousands and thousands of dollars are still going to a university, unless they've got a hefty trust to follow it up.

    Eventually, I might want a home. But I'm definitely not where I want to settle, to be honest.

    12 weeks 2 days ago Report Comment
  • gemsera's picture
    gemsera
    25

    My beau and I are looking at houses in the next 6 months or so - We both have such good prospects at the moment and really want to invest and renovate.

    12 weeks 2 days ago Report Comment
  • Vespa's picture
    Vespa
    26

    It always bothers me, the myth that renting is "throwing away" money. It's not the best option for everyone!

    12 weeks 2 days ago Report Comment
  • popgoestheworld's picture
    popgoestheworld
    27

    Agreed Vespa. Where I live right now, if I were to buy the same house I'm currently renting, my monthly payments would go up 300% Now THAT would be throwing away money...

    I do want to buy some day though. In general it's a good time to buy I think.

    12 weeks 2 days ago Report Comment
  • sharshar's picture
    sharshar
    28

    Renting is okay but there's still nothing like having your own home.

    12 weeks 2 days ago Report Comment
  • porkypocky's picture
    porkypocky
    29

    hell yes. i would definitely be more motivated to keep it clean too...since i did pay for it. lol.

    12 weeks 2 days ago Report Comment
  • Berlin's picture
    Berlin
    30

    My BF & I are in the process of buying a 1892 Queen Anne Victorian Home in the historic district of our town...I can't wait:)

    12 weeks 2 days ago Report Comment
  • g1amourpuss's picture
    g1amourpuss
    31

    My goal was to own by the time I reached 30. If I really wanted to achieve that goal right now, I could make it happen. (I'm invincible once I put my mind to something.) But I have since changed my mind with the way the economy is right now.. bumping my goal back to 35.

    I'm more focused on raising my daughter, buying nicer cars for us, getting the essential pieces for my dream home, and helping my mother with her health right now. When we do buy I will have my mother living in the back in an apartment/mini-cottage.

    If for some reason this all comes along sooner than by the time I turn 35, that is okay with me as long as it fits into our lives and everything.

    Personally, I don't believe that renting is throwing money away. If anything it can actually save you more money in the end. Deed restriction fines.. Property taxes -- Now, that's money down the drain.

    12 weeks 2 days ago Report Comment
  • Mintie's picture
    Mintie
    32

    I am saving now to buy a farm in Italy when I retire. I have no desire to own here.

    12 weeks 2 days ago Report Comment
  • skigurl's picture
    skigurl
    33

    i've always worked for a construction company/homebuilder so i've wanted to buy since i was 14
    it's a goal of mine, but i don't have a timeline

    12 weeks 1 day ago Report Comment
  • valancyjane's picture
    valancyjane
    34

    Ugh, the "renting = throwing money away" thing bothers me SO much. What you get with your rent is peace of mind. If a pipe under my sink explodes at 1 a.m. (which has happened!) there is someone I can call. If the water heater dies, there is someone I can call. If the kids playing outside throw a baseball in our window, there is someone I can call. I didn't want to take on all that (plus higher payments, since my rent has always been cheap) just for the sake of "equity."

    12 weeks 1 day ago Report Comment

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