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What would you do?

Ok DH and I are currently renting a HUGE double wide. It has the living room, kitchen, dining room, office, master bedroom/bathroom, laundry room, 3 kids bedrooms and another bathroom. Right now we pay $650 a month in rent. Well I found a 3 bedroom single wide for sale, it is SOOO cheap that we could pay cash and then we would only have to pay $150 a month for space rent. Well my question is, would you sacrafice space for cheaper living?

Pros: Save money, DD could start school, we would OWN, have a grocery store within 5 mins (closest grocery store is currently 45 mins away), closer to family (would cut about an hour off driving to visit)

Cons: Less space, needs some work

I can't really think of any cons other than space but that is a pretty big one when we want another child....What would you ladies do??

Answer Question
 
Mikayla_lynn

Asked by Mikayla_lynn at 1:31 AM on Jul. 8, 2011 in Money & Work

Level 17 (3,452 Credits)
Answers (9)
  • yes def. I live right next to NYC on the NJ side..so rent up here is redonkulous(shreck 4) I would absolutely sacrifice space to save money..Especially the ammount of money you would save..think about it, if you go into the cheaper house and still pay rent like you were in the old one but just bank the additional money, you would be putting a lot into your saving acct... $450/month (thats $5,400/year and $27,000 in just 5 years) . then after a few years..you can sell your home, and in conjunction with your savings put a down payment on something nicer and bigger than either homes. Something to think about..thats what i would do.
    MonkeyMommyNJ

    Answer by MonkeyMommyNJ at 1:41 AM on Jul. 8, 2011

  • It would depend on the area, schools, and all that..plus how much work it would take for me to make a decision like that. Plus I live in a 3 bedroom and have one kid, hubby and I and his mother stays with us ALOT and with all our stuff it sucks so if you choose the three bedroom be sure to get a storage building so you can store stuff back and forth throughout the seasons. But I like ours it is easier to clean than our bigger place was and we don't have to struugle money wise as badly as we were b4.
    ky_phoenix

    Answer by ky_phoenix at 1:59 AM on Jul. 8, 2011

  • Tough, TOUGH call. It sounds like there are some definite down sides to where you are currently living (due to remote location and distance from your family, etc.) but coming from an idiot that bought a "starter" home that has just over 1000 square feet, and now can't sell it, you WILL miss having enough space. Saving the money would be awesome though, and maybe you could put the money you were paying toward rent away and buy a house or a double wide when one becomes available from the savings. Another thought is that if the single wide is THAT cheap, could there be other problems with it? Take a look at it, decide if you could live with it (and pay for storage for the stuff that won't fit), and if you can, the benefits might outweigh the cost.
    terirose22

    Answer by terirose22 at 2:04 AM on Jul. 8, 2011

  • I have seen pictures of it online, and the owner has admitted there are a few problems but nothing that is too bad and with the money we would be saving we could fix them before we even moved in. I am just scared that with two kids now and TTC #3 that it will be way too small. Right now DH and I have enough money to pay all the bills ect and have a little left over but if we moved here we would have a ton of extra money. I think I will call tomorrow and see if we can take a look at the inside and talk to my DH about it.
    Mikayla_lynn

    Comment by Mikayla_lynn (original poster) at 2:11 AM on Jul. 8, 2011

  • Oh, and it already comes with a storage building outside so that wouldn't be an issue.
    Mikayla_lynn

    Comment by Mikayla_lynn (original poster) at 2:12 AM on Jul. 8, 2011

  • Keep looking for what meets your needs is my suggestion.
    Sarah961

    Answer by Sarah961 at 2:24 AM on Jul. 8, 2011

  • You can always have an inspector look at the house to see what the problems are and how minor/major they are. Also, if you have a yard, you can always just put a good size storage shed there instead of renting a monthly storage.
    Ashoonik

    Answer by Ashoonik at 3:02 AM on Jul. 8, 2011

  • Jeeez. Where do you guys live again? We pay $950 for a 2 bedroom apartment with one bathroom (it's a good sized apartment though!) in a Philadelphia suburb. Again, jeez. I know I'd be kicking myself in the butt if I gave up an extremely comfortable amount of space to save money especially knowing there will be a new baby on the way. I would not do it, it I was in that position.
    discokittten

    Answer by discokittten at 6:24 AM on Jul. 8, 2011

  • You could always add on to the new house.
    tspillane

    Answer by tspillane at 8:04 AM on Jul. 8, 2011

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