Considering pulling the trigger

[bob2007]

Opinions will vary widely. Stay 5-10 years, probably ok. Have to sell in less than 5 years, maybe a 10%ish type loss. To me, even if it costs me 10%, if my quality of life goes up (meaning I am happier overall), its worth it.

[mercedes7]

[quote=bob2007]Opinions will vary widely. Stay 5-10 years, probably ok. Have to sell in less than 5 years, maybe a 10%ish type loss. To me, even if it costs me 10%, if my quality of life goes up (meaning I am happier overall), its worth it.[/quote]

Thanks Bob…it really is about quality of life. It has tennis courts and weight room available and I will finally feel “settled”. In 5 years I will save 10% of my purchase price vs renting, which means I will be essentially flat minus the cost of selling (if I decided to). In the mean time, I will get to enjoy the place and it’s mine. My only fear is that a sfr will come along that is exactly what I have wanted all along and I won’t be able to jump at it.

[mercedes7]

[quote=bob2007]Opinions will vary widely. Stay 5-10 years, probably ok. Have to sell in less than 5 years, maybe a 10%ish type loss. To me, even if it costs me 10%, if my quality of life goes up (meaning I am happier overall), its worth it.[/quote]

Thanks Bob…it really is about quality of life. It has tennis courts and weight room available and I will finally feel “settled”. In 5 years I will save 10% of my purchase price vs renting, which means I will be essentially flat minus the cost of selling (if I decided to). In the mean time, I will get to enjoy the place and it’s mine. My only fear is that a sfr will come along that is exactly what I have wanted all along and I won’t be able to jump at it.

[mercedes7]

[quote=bob2007]Opinions will vary widely. Stay 5-10 years, probably ok. Have to sell in less than 5 years, maybe a 10%ish type loss. To me, even if it costs me 10%, if my quality of life goes up (meaning I am happier overall), its worth it.[/quote]

Thanks Bob…it really is about quality of life. It has tennis courts and weight room available and I will finally feel “settled”. In 5 years I will save 10% of my purchase price vs renting, which means I will be essentially flat minus the cost of selling (if I decided to). In the mean time, I will get to enjoy the place and it’s mine. My only fear is that a sfr will come along that is exactly what I have wanted all along and I won’t be able to jump at it.

[mercedes7]

[quote=bob2007]Opinions will vary widely. Stay 5-10 years, probably ok. Have to sell in less than 5 years, maybe a 10%ish type loss. To me, even if it costs me 10%, if my quality of life goes up (meaning I am happier overall), its worth it.[/quote]

Thanks Bob…it really is about quality of life. It has tennis courts and weight room available and I will finally feel “settled”. In 5 years I will save 10% of my purchase price vs renting, which means I will be essentially flat minus the cost of selling (if I decided to). In the mean time, I will get to enjoy the place and it’s mine. My only fear is that a sfr will come along that is exactly what I have wanted all along and I won’t be able to jump at it.

[mercedes7]

[quote=bob2007]Opinions will vary widely. Stay 5-10 years, probably ok. Have to sell in less than 5 years, maybe a 10%ish type loss. To me, even if it costs me 10%, if my quality of life goes up (meaning I am happier overall), its worth it.[/quote]

Thanks Bob…it really is about quality of life. It has tennis courts and weight room available and I will finally feel “settled”. In 5 years I will save 10% of my purchase price vs renting, which means I will be essentially flat minus the cost of selling (if I decided to). In the mean time, I will get to enjoy the place and it’s mine. My only fear is that a sfr will come along that is exactly what I have wanted all along and I won’t be able to jump at it.

[tc]

Seems to me like a lot of piggs are jumping into the residential market now.

[tc]

Seems to me like a lot of piggs are jumping into the residential market now.

[tc]

Seems to me like a lot of piggs are jumping into the residential market now.

[tc]

Seems to me like a lot of piggs are jumping into the residential market now.

[tc]

Seems to me like a lot of piggs are jumping into the residential market now.

[sdduuuude]

Before considering rent a “waste” of money, one has to consider the value of flexibility. In uncertain times, the value of flexibility goes way up. Up to you to put a dollar amount on that.

Renting provides a low risk of being stuck in a bad position. Also, rent is only “wasted” if the underlying assets are appreciating. In the early years, the amount of money that goes to equity instead of interest is negligible.

If you are aiming “low” with your purchase, you might be OK – the magintidue of potential dollar losses goes down, and you are making a monthly payment similar to your rent. But if you are aiming to purchase a nicer place than you are currently renting, then your risk is increased.

I think waiting another year will help more than hurt. It’s an annoying buyers’ market and many economic indicators suggesting bad things are coming.

On the other hand, it seems nobody really cares if you default on the loan, so if you buy now and get stuck in a negative equity position, walking away is now the “in” thing to do so you don’t really have anytyhing to lose by buying. In case the market goes way down, you can always default, live rent free for a year, then bail. Consult your attorney first.

[sdduuuude]

Before considering rent a “waste” of money, one has to consider the value of flexibility. In uncertain times, the value of flexibility goes way up. Up to you to put a dollar amount on that.

Renting provides a low risk of being stuck in a bad position. Also, rent is only “wasted” if the underlying assets are appreciating. In the early years, the amount of money that goes to equity instead of interest is negligible.

If you are aiming “low” with your purchase, you might be OK – the magintidue of potential dollar losses goes down, and you are making a monthly payment similar to your rent. But if you are aiming to purchase a nicer place than you are currently renting, then your risk is increased.

I think waiting another year will help more than hurt. It’s an annoying buyers’ market and many economic indicators suggesting bad things are coming.

On the other hand, it seems nobody really cares if you default on the loan, so if you buy now and get stuck in a negative equity position, walking away is now the “in” thing to do so you don’t really have anytyhing to lose by buying. In case the market goes way down, you can always default, live rent free for a year, then bail. Consult your attorney first.

[sdduuuude]

Before considering rent a “waste” of money, one has to consider the value of flexibility. In uncertain times, the value of flexibility goes way up. Up to you to put a dollar amount on that.

Renting provides a low risk of being stuck in a bad position. Also, rent is only “wasted” if the underlying assets are appreciating. In the early years, the amount of money that goes to equity instead of interest is negligible.

If you are aiming “low” with your purchase, you might be OK – the magintidue of potential dollar losses goes down, and you are making a monthly payment similar to your rent. But if you are aiming to purchase a nicer place than you are currently renting, then your risk is increased.

I think waiting another year will help more than hurt. It’s an annoying buyers’ market and many economic indicators suggesting bad things are coming.

On the other hand, it seems nobody really cares if you default on the loan, so if you buy now and get stuck in a negative equity position, walking away is now the “in” thing to do so you don’t really have anytyhing to lose by buying. In case the market goes way down, you can always default, live rent free for a year, then bail. Consult your attorney first.

[sdduuuude]

Before considering rent a “waste” of money, one has to consider the value of flexibility. In uncertain times, the value of flexibility goes way up. Up to you to put a dollar amount on that.

Renting provides a low risk of being stuck in a bad position. Also, rent is only “wasted” if the underlying assets are appreciating. In the early years, the amount of money that goes to equity instead of interest is negligible.

If you are aiming “low” with your purchase, you might be OK – the magintidue of potential dollar losses goes down, and you are making a monthly payment similar to your rent. But if you are aiming to purchase a nicer place than you are currently renting, then your risk is increased.

I think waiting another year will help more than hurt. It’s an annoying buyers’ market and many economic indicators suggesting bad things are coming.

On the other hand, it seems nobody really cares if you default on the loan, so if you buy now and get stuck in a negative equity position, walking away is now the “in” thing to do so you don’t really have anytyhing to lose by buying. In case the market goes way down, you can always default, live rent free for a year, then bail. Consult your attorney first.

[Author]

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