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11.8.08

i need a little help...

okay, so i've come to terms that justin and i will not be leaving the state for some time, probably two to three years. depressing, disheartening, but reality. so in that time, i really really really do not want to live in any more rented space.

since we've moved into this duplex, i've done little more than place the furniture, put up a few decorations and keep up with the cleaning. i haven't unpacked most of my clothes. i just haven't felt like there was any point since we'd be leaving.

this place isn't all bad. its large. there's a backyard for the dogs, and a laundry room in which to keep the litter pans. there's even an extra bedroom. and i haven't even done anything with that. the biggest plus? the landlord. she's great, and says we're her best tenants. considering the rest of the neighborhood, i can see why.

the cons? well, the neighborhood, obviously. its a low income area, lots of section 8. i didn't know anything about this area until i moved here. not that i've had any problems, thank the Lord. its highly transient, and full of obvious gang meetings and drug deals. i'd go as far as to say prostitution. i know it happens, and i'm pretty sure i've seen the negotiation from my car as i'm driving home late at night.

but as i've said, i've had no problems with anyone. having a big dog helps! :)
i feel helpless to make this place my own because of my discontent of the area, and also the restrictions of renting. i can't paint, and i can't change any of the outdated features of the place.

so, all that being said, i'm ready to buy a house. ready is such a loose term here, really.

so here's where i need help. first, i ask that you'd lift justin and i up in prayer. we need the Lord's guidance in this matter first and foremost.
secondly, i need advice! i've only started to look at houses once, and that ended when we moved back into my mom's for a bit.

so what do you think? should i continue renting? should i buy? our lease here is up in february. it gives us some time at least. plus, the possibility of finding another place to rent with our zoo is next to impossible. there you have it.

2 comments:

dave & rachel said...

Renting was hard for me too, for all the same reasons you listed. I just wanted to paint and do house projects! What was I thinking????

We love owning a home, but it is a ton of work. Just something to consider...

Of course it is way more fun to decorate. :)

Okay, so my REAL advice? Talk about your plans for the future. Is your husband in school right now? You mentioned leaving the state in 2-3 years. Do a little research and figure out which option will save you the most money in that time frame, whether that is renting a smaller place or buying something small in an older neighborhood (that will hold its value). Then, when you move in a couple years, you will have some money to put down on a house.

2-3 years probably isn't enough time to recoup the money you put into a house. For the first several years, most of your mortgage payment goes towards the interest you owe - so the amount you owe on the house doesn't decrease by much for awhile. Just something to think about. :)

On the other hand, if you think you might just stay in Oklahoma for awhile (it's not that bad!), it's a buyers market in most places right now. Meaning everyone is trying to sell, and so prices are low!

Christina said...

Yes, what Rachel said.

If you've weighed the options and still think that buying is what you want to do, don't start looking at houses until you've talked with some lending companies. Get some referals from friends that have bought homes for some good mortgage companies. Get a couple good faith estimates for what you'd be approved for for a mortgage. It won't cost you anything, but it will help you better realize what you can realistically afford. This will keep you from finding your dream home and then realizing that even though you thought you could afford it, no one will loan you the money. Plus, real estate agents don't like to show houses (first draft I typed that "hoses", they'd probably show you those.) to people who haven't already been approved for a loan.

I'll be praying!