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Is this house a good deal?

Posted by on Jan. 27, 2009 at 11:51 PM
  • 17 Replies

OK

currently in a 2 story house... 1900 square feet... two car garage on one acre. DH and I are responsible for landscaping that acre, snow removal, etc... we are 7 miles south of town and on the highway. is a 3 bedroom 2.5 bath with family room, living room, dining room, and laundry room... $1650 a month PLUS associate of $100 a month... The owner is putting the house on the market and wants to sell it ASAP...

We can get a house in town... 3bedroom, 2 bathroom... 1 car garage on 1/4 acre... great room (no seperate living and family room) with a laundry room... new house... all new appliances... 1/2 mile to our store... the kids and I can walk no problem.... it's $1700 a month with a 2 year guarenteed lease...

What do you think?

                 motherhood-quote21


Stefanie - Mommy to Liam Patrick 07/07 (IUGR) and Molly Kate 06/08 (IUGR, Pre-Natal Stroke, Developmental Delays, and Failure to Thrive) and Wife to Mark since 2/17/2006

by on Jan. 27, 2009 at 11:51 PM
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Replies (1-10):
Godswk
by on Jan. 27, 2009 at 11:55 PM

You weighed your disadvantages and advantages already. There is not a difference in price.The real question is what do you want out of a home you want to live in for a while? Do you like things in walking distance? You think you prefer home ownership. If so, spend 1,700.00 as a home owner. The other house is a lease unless you don't plan on living there long term.

Mom2LiamNMolly
by on Jan. 27, 2009 at 11:57 PM

See... we own a house... but it is a teardown.. it wil take us 2-3 years to get it taken down and rebuilt.... we sill habe to pay the $2231 mortgage on it every month during that time :(

Quoting Godswk:

You weighed your disadvantages and advantages already. There is not a difference in price.The real question is what do you want out of a home you want to live in for a while? Do you like things in walking distance? You think you prefer home ownership. If so, spend 1,700.00 as a home owner. The other house is a lease unless you don't plan on living there long term.


                 motherhood-quote21


Stefanie - Mommy to Liam Patrick 07/07 (IUGR) and Molly Kate 06/08 (IUGR, Pre-Natal Stroke, Developmental Delays, and Failure to Thrive) and Wife to Mark since 2/17/2006

mandiemae12523
by on Jan. 27, 2009 at 11:59 PM

That is a tuffy...  they both seem to be about the same price but the one you are at sound to have a lot more room but the walking is more conveniant.  But if it were me I would choose the one with more room.. owning a home is so much better then renting in my opinion!!!

mamamissy316
by on Jan. 28, 2009 at 12:00 AM

I think it all depends on where you live.  I personally would never pay that much for a house that didn't have a big yard.  I'm an outdoors junkie.  But right now I live on a city lot, and I don't mind because my house was really cheap.  When we are ready for something better in a few years, mama's leaving the city!  I think that if the house is nice, and you don't mind having no yard, then it's not a bad deal.  And you'll definitely save on gas money!

mamamissy316
by on Jan. 28, 2009 at 12:01 AM

Wow, it must be nice to have that much extra money laying around!  Good for you!

Quoting Mom2LiamNMolly:

See... we own a house... but it is a teardown.. it wil take us 2-3 years to get it taken down and rebuilt.... we sill habe to pay the $2231 mortgage on it every month during that time :(

Quoting Godswk:

You weighed your disadvantages and advantages already. There is not a difference in price.The real question is what do you want out of a home you want to live in for a while? Do you like things in walking distance? You think you prefer home ownership. If so, spend 1,700.00 as a home owner. The other house is a lease unless you don't plan on living there long term.



Mom2LiamNMolly
by on Jan. 28, 2009 at 12:03 AM

Oh... we don't have it.... the inlaws are helping out... otherwise no flippen way... oh, and we worked a deal with the lender, too

Quoting mamamissy316:

Wow, it must be nice to have that much extra money laying around!  Good for you!

Quoting Mom2LiamNMolly:

See... we own a house... but it is a teardown.. it wil take us 2-3 years to get it taken down and rebuilt.... we sill habe to pay the $2231 mortgage on it every month during that time :(

Quoting Godswk:

You weighed your disadvantages and advantages already. There is not a difference in price.The real question is what do you want out of a home you want to live in for a while? Do you like things in walking distance? You think you prefer home ownership. If so, spend 1,700.00 as a home owner. The other house is a lease unless you don't plan on living there long term.


 


                 motherhood-quote21


Stefanie - Mommy to Liam Patrick 07/07 (IUGR) and Molly Kate 06/08 (IUGR, Pre-Natal Stroke, Developmental Delays, and Failure to Thrive) and Wife to Mark since 2/17/2006

Katenemsmom
by on Jan. 28, 2009 at 12:05 AM

I am a total city girl.  I would take the house with less land to maintain.  More access to stores and away from the highway.  You already own, you don't need two.  Take the lease in town and let the owner take care of the details.

mamamissy316
by on Jan. 28, 2009 at 12:07 AM

Oh I see.  I'll tone down my jealousy a bit then!  LOL

Quoting Mom2LiamNMolly:

Oh... we don't have it.... the inlaws are helping out... otherwise no flippen way... oh, and we worked a deal with the lender, too

Quoting mamamissy316:

Wow, it must be nice to have that much extra money laying around!  Good for you!

Quoting Mom2LiamNMolly:

See... we own a house... but it is a teardown.. it wil take us 2-3 years to get it taken down and rebuilt.... we sill habe to pay the $2231 mortgage on it every month during that time :(

Quoting Godswk:

You weighed your disadvantages and advantages already. There is not a difference in price.The real question is what do you want out of a home you want to live in for a while? Do you like things in walking distance? You think you prefer home ownership. If so, spend 1,700.00 as a home owner. The other house is a lease unless you don't plan on living there long term.


 



21noahsmama21
by on Jan. 28, 2009 at 12:10 AM

Well, if the owner is going to sell the one you're in, it could go in a month or it could take years who knows, then I would just say move in town, especially since you're going to have to wait two or three years to tear down and rebuild.  Have you thought about buying a manufactured home instead of rebuilding?  My mom is going to buy one for their second property because a guy my dad's friends with happens to work in the foreclosure field and sees brand new MHs go for ten grand.  All you have to do is move them, which usually doesn't cost much, maybe another ten grand to twenty if it's a long haul.  And you can get a new MH bought and delivered for a hundred to a hundred and fifty. 

Anyway, back to your question, sounds like the other house in town is nice, just less yard, but that's also less maintenance for you, and with the winter weather, being closer to town is ALWAYS wonderful, especially when you're car is snowed in, you can always walk being so close.  So I would say move, since it sounds like you're going to have to move sooner or later anyway, and it's going to be awhile before your new house is up and ready to go.

hasberly
by on Jan. 28, 2009 at 8:58 AM

i personally could not pay that much for a house that will never be mine.  that is a house payment and if you are responsble for everything  else anyways you are better off buying.  actually  i don't know where you live but a house payment might be cheaper.

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