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Rent now OR wait to buy.. WWYD

We live with my mom. My DH makes pretty good money. I would like to save $ to buy a home, but my DH is HORRIBLE at saving money. There are 101 things that come up that we need to spend money on. BUT he is good at making sure bills get paid. Its just SAVING he has a problem with....

So What would You do?!
Im going crazy being here. My DD isnt as well behaved because grandma is around! Its time. I want out!
-Rent Apt: Rent is as much as a mortgage around here-for less sq.foot & less privacy. No yard :( ..... But we could move out in a month. And i worry renting may be a never ending cycling- Never HAVE the extra money to really save because of bills.
-Buy House: Suck it up & be stuck at moms house for a year saving & get a home with exactly what we need as in space/size.

If DH was a good saver we could do about $800/m in savings. But its not happening. I am happy to see our savings grow $100/m!
We have to save about $10,000 before even thinking about a home.
(I take over the money. but it doesnt stick very long. and before I know it he has our bank card again & is spending in ways we have not agreed to).

 
Anonymous

Asked by Anonymous at 12:43 AM on Jun. 28, 2011 in Money & Work

This question is closed.
Answers (10)
  • Seriously save up buying a home is so much better than rented myhusband and i rented for 5 years and just bought out first house are avage rent was around 1200-1300, and our house payment is only 1100.. U might have a few extra bills like garabge ur in charge of ur lawns ect, but its so much better than dealing with a landlord. I say BUY BUY BUY (if u can)
    Cherriemama831

    Answer by Cherriemama831 at 12:57 AM on Jun. 28, 2011

  • Open up a sep. savings acct just for the house. You will need it for your down payment, & later on for household repairs. As soon as hubby gets paid, or have direct deposit set up, so that a certain amt. ea. month goes into that acct. In the meantime, w/ the housing market being the way it is, you could probably find a land contract home. (like rent to own) It's a buyers market right now, you should try to take advantage of it! GL! :)
    mrsmom110

    Answer by mrsmom110 at 7:29 AM on Jun. 28, 2011

  • My DD isnt as well behaved because grandma is around!


    I don't understand this.. YOU are the parent. YOU are in control of your DD's behavior. 


    Anywho, it doesn't sound like your DH is ready to handle the saving and expenses that come with home ownership...  Even if you save up to buy the home, you need to realize that home ownership comes a WHOLE new degree of spending....  It doesn't sound like you and your DH are ready to take this LONG term responsibility on.  Hines Sight~Probably should have had the financial discussion before you started the family to make sure you were on the same page about your future. family, work, home, future....  

    grlygrlz2

    Answer by grlygrlz2 at 2:26 AM on Jun. 28, 2011

  • I'm going to go one better than Mrsmom110, open a separate saving account and don't put his name on it. Put a certain amount in immediately as soon as his paycheck clears and make it impossible for him to get at that money. Don't remind him that the money is there. Don't let him get the mail of see a bank statement. Make him forget about it. If he asks how much is in there say a couple of hundred or not enough to buy a house yet. Don't torment the poor guy with the thought that he is rich. Let him believe that he is poor.
    And find a rent to own. That is also an excellent idea.
    LoveMyDog

    Answer by LoveMyDog at 8:40 AM on Jun. 28, 2011

  • Looks like your husband is happy in the living situation now because if he wasn’t he would change in spending habits. Too bad he isn’t on board with you. Fixing that would solve your problem.
    musicmom08

    Answer by musicmom08 at 5:09 PM on Jun. 28, 2011

  • We rent a apartment and only pay 660 a month. Nice area tennis courts, pool, spa, and gym. I would rather rent then stay with other people! We are saving to buy a house in a few years.
    momavanessa

    Answer by momavanessa at 1:11 AM on Jun. 28, 2011

  • I would recommend Renting. You can establish good credit by doing so at the present. Buying is going to get nothing but worse it the future. Property taxes are going to go up so much in the future that you will see many, many people struggling more so than they already are.
    m-avi

    Answer by m-avi at 10:45 AM on Jun. 28, 2011

  • I'm going to go one better than Mrsmom110, open a separate saving account and don't put his name on it


     


    Does anyone else find it alarming that she even has to consider this?  You need to have a serious conversation with your husband on WHERE does HE see your family in 5 years?  10?  What are HIS goals for the family?  Treating him like a child and "hiding" the cookies from him so they are out of sight, out of mind is NOT good for the overall relationship.  JMO.

    grlygrlz2

    Answer by grlygrlz2 at 11:47 AM on Jun. 28, 2011

  • I've got to agree with you grlygrlz2. before I know it he has our bank card again & is spending is a very alarming statement. Especially after her saying that they should be able to save $800 a month.  but let's face it not every man is ready to grow up before being forced.  Thus the he is good at paying the bills, but not good at saving.  So she has to save for him.  Now if he was an adult he would say to her put this away somewhere and don't let me know how much there is.  Don't let me blow this. I don't even want to see it unless the car breaks down.  That would be the grown-up thing to do.

    LoveMyDog

    Answer by LoveMyDog at 1:36 PM on Jun. 28, 2011

  • Agreed LoveMyDog... If his priorities aren't saving for the family and hers are, they need to COMMUNICATE and find common ground..
    grlygrlz2

    Answer by grlygrlz2 at 2:29 PM on Jun. 28, 2011

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