Money Monday: Rent or Own?

[pbubblegum]

1. We own our little shoebox in the sky.
2. N/A
3. This is definitely a starter. It's a tiny 2 bedroom, 1.5 bathroom condo. The housing market here is insane. The building is 5 years old and we bought it in 2014 when I found out I was pregnant. It's close to work and in a great area. We also have a huge storage room, rooftop patio with gorgeous city views and a pool and gym. The plan is to wait until baby #2 to buy a preconstruction forever home and rent this one.

[mgrandy]

1. Do you own your home or are you renting/ leasing?
We bought our home in April 2015 and I was helping to do the renovations right up until I had DD.

2. If you are renting/leasing do you plan to buy a home at some point?
N/A

3. If you own a home are you in a starter home, a forever home, or something else?
This is our first home, but I can see us here for at least 5-7 years. It was important to me to have a home with enough space to grow into so that we wouldn't have to move for a while since we moved every year or so when we were renting. We have 4 beds, 3 baths, about 2400 sq feet and nice fenced in yard, which is great for our 2 dogs and soon DD.

[jillywilly]

We built our house a little over three years ago. It's nice, a very traditional 4 bedroom, 2.5 baths, 2,000 sq. ft. house. We bought it thinking it would be our "get our kids through elementary school" home. Then the housing market went nuts in our area, and H was able to make some awesome career moves, and we realized that between DS basically taking over our living room and wanting a nicer yard for him, we could afford to upgrade. So in September(ish), we'll be moving into a 4 bedroom house with 3,000 sq. ft. It will have the kitchen of my dreams and an awesome loft area that will become the playroom, I'm super excited. It's also in a great neighborhood chock full of kids. It's not the "forever" home, but we're pretty sure this one will be the "until the kids are out of the house or pretty damn close to it" house. After this house, we'd love to be able to get into something that might be smaller, but on a lake - that's the real "dream" for us.

[holliberry28]

We bought a 2 bedroom Coop last year, before that we were renting a 1 bedroom apartment. We have a mortgage, plus we have to pay a $700 monthly maintenance (for no amenities). Our plan is to live here for the next 3 or 4 years, and then look for a house in Long Island or Westchester. Right now we both work and live in Brooklyn and it's about a 40 minute commute, so if we move out, we're looking at an hour + commute.

[mbjune13]

We own our house. Bought in 2012. We are on a traditional grain farm so we have our home yard which is around 10 acres on a quarter of land. (160 acres, it's seeded into grain in the spring.
It is our forever home. I don't like the layout. It is 1300 square feet. It only has 2 bedrooms and the basement is only half the size of the house because of a cistern.
We also have 4 outbuildings and grain bins.
I don't know what the price would be now but we paid $615,000.

[cnumbers]

1. Do you own your home or are you renting/ leasing?
We are renting.

2. If you are renting/leasing do you plan to buy a home at some point?
We are currently looking to buy our first home! We have a viewing on Friday of a place we love, we are looking for something bigger. I'm really excited to see it!

3. If you own a home are you in a starter home, a forever home, or something else?
It is most definitely not a forever home. We do not like where we live at all. We took it due to circumstances and it hasn't turned out what we expected. When we took it we had no idea LO was on the horizon. Now, it isn't suitable for a family and since the family is expanding we need to find something fast.