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If you had a choice, would you buy or rent your new home/apartment?

Recently separated, heading for divorce and wondering should I rent an apartment in a low income housing community where I would have to wait 6 - 12 months to get in or buy a condo through COAH and move as soon as mortgage goes through. Also, if I go for the apartment I would have to give up one of my pets which I really don't want to do. If I rented an apartment I wouldn't have to worry about maintenance if anything broke. But if I bought a condo I could do whatever I want as far as painting, decorating, etc. Really leaning toward condo, what would you do?   Because I am on disability and whatever my ex gives me for alimony I am only qualified to live in low housing communities because of my income and all low housing communities have a waiting list.

 
JerseyGirl511

Asked by JerseyGirl511 at 1:18 PM on Jul. 1, 2011 in Home & Garden

Level 1 (2 Credits)
This question is closed.
Answers (13)
  • If I had a choice I would buy, why pay money into something you will never own.
    momto4girzls

    Answer by momto4girzls at 1:29 PM on Jul. 1, 2011

  • The thing I like the best about renting is that if anything goes wrong it's not your problem. We are looking to possibly buy soon, I guess given the choice I would buy (if it's affordable!)
    PrincessPeach06

    Answer by PrincessPeach06 at 1:47 PM on Jul. 1, 2011

  • Condo!~
    maxsmom11807

    Answer by maxsmom11807 at 1:19 PM on Jul. 1, 2011

  • Hmm.. I'd rent to save money for awhile.. but if you have that long of a wait.. maybe try to find somewhere else to rent
    SuperrMommyy

    Answer by SuperrMommyy at 1:19 PM on Jul. 1, 2011

  • we bought a house in its ALOT cheaper then when we were renting. were saveing about 200 a month. but yes down fall is if something breaks we fix it. but if u know someone who can be a good fixer person that helps. and saves money also. best of luck...
    tabbys4

    Answer by tabbys4 at 2:20 PM on Jul. 1, 2011

  • condo
    Madelaine

    Answer by Madelaine at 2:35 PM on Jul. 1, 2011

  • I guess it partly depends on your current living situation. Are you able to stay where you are at until a rental would be available to you? Idealy, with the new transition you are going through, it would be best, in my opinon, to rent and save up and give yourself some time to plan things out. If you are unable to stay where you are and must move quickly, then I would suggest a condo. Again, just be aware, in most cases, if things go wrong, you won't have a landlord to take care of them. So financially, it would be your responsibility.
    MommaMarsch

    Answer by MommaMarsch at 2:40 PM on Jul. 1, 2011

  • We have been home owners for 12+ years and while I do like it, sometimes I feel like renting would be so much easier.
    KTMOM

    Answer by KTMOM at 5:39 PM on Jul. 1, 2011

  • I would think that renting would be easier if you are going it solo with a disability and kids as far as maintenance and upkeep goes. Also...price wise, I've found that its cheaper, as long as you have an apartment that is reasonably well constructed, in terms of energy use, insurance, etc.
    thalassa

    Answer by thalassa at 5:43 PM on Jul. 1, 2011

  • If you can swing it, I would definitely go for the condo. Good luck.
    ceciliam

    Answer by ceciliam at 6:49 PM on Jul. 1, 2011