Around this time last year, Johnny and I posted about why we wouldn’t be buying a home in 2013. We made that decision before the craziness of finding a new job and moving across the country rocked our year. 2013 definitely wasn’t the year for buying.
And so now we find ourselves another year older (and debatably wiser), asking ourselves Will we be buying in 2014?
Well, here are a few of our considerations:
Buying a Car and a House?
Since this time last year, we’ve been able to add a significant amount to savings, which has helped us feel more prepared to lay down a hefty downpayment when the time to buy comes. That said, in the near-ish future, we’re planning to sell our current car and buy a larger car (but will it be a minivan?). After selling our current car, we’re thinking we’ll still have to pay an extra $5k to $10k out of pocket for the used car we have in mind. So is buying a new (to us) car with cash and putting down a downpayment on a house in the same year something we’d feel comfortable doing? Well, we don’t know. But that’d be a lot of money leaving our bank account over a short period of time.
Our Forever Place?
While we’re not sure if Utah is our forever place, we don’t have any plans of leaving it anytime soon. Johnny really enjoys his job, and we’ve loved living near family for the last few months. And, frankly, we’ve moved around a lot in the last few years, and we’re kind of tired of the transient life. So at the very least, we think we’ll be Utah-ites for a while. We’re not too worried about buying a home out here and then needing to move before we’ve lived in it for a while.
Adding to Our Brood?
Don’t worry, Sally, you’re still going to be the center of our universe for a while longer yet. But if and when we do have a second or third bebe, we’d like to be settled in a home. Johnny and I completely underestimated how much parenting would change our lives. We’re both very stubborn people, and much to our dismay, our daughter is also this way. And parenting her wears us out, folks. Thinking of being responsible for not one, but TWO little
hellions angels someday… well, we’re not ready to think of that yet. If we could be settled in a home before that day comes, we’d feel much better about diving headfirst into doubling our offspring. It’s not a must, but it’s a that’d be really nice.
Goodbye Renting Perks?
Despite some of the drawbacks of renting, it is pretty worry-free in a lot of ways. While we don’t have our own yard or porch or a window over our kitchen sink that looks out into a garden (am I the only one who dreams of this?), we also don’t have the responsibility that comes with owning a home. Once we’re owners, we’ll probably always be owners. There’s no turning back, and the wide world of responsible adulthood will officially have us in its grasp. Are we ready for all that comes with having a mortgage? Not right this second, but almost.
So will we be buying in 2014? A resounding “Maybe.” We’re definitely not ruling it out. And our lease isn’t up until August, so we’ve got some time yet to decide. For now, we’re just continuing to try to hit our savings goals each month and pad our bank account as much as we can.
What about you? Are you thinking about buying (or selling) in 2014?
I agree that I’d like to be settled into a home when we finally do start a family. I am nowhere near that point yet but there’s just something comforting about having your own place and setting down roots.
Good luck with the house hunt if you do decide to buy!
Thanks! I agree… I look forward to that day, whenever it may be!
I will not be buying a house in 2014. Though I hope to buy a new to me car.
Good luck with making a definitive decision on whether or not you will buy a house.
Thanks, Jennifer! Good luck on the car hunt!
We bought our house in 2009. Our mortgage with all associated homeowners insurance and taxes is about half of what we would now be paying for rent in our neighborhood, so it made a lot of sense for us to buy. Of course, this is assuming that we would be renting a small house as opposed to a studio apartment. I admire families who live merrily in studio apartments, but we are not those families. We also knew that we wanted to live in our little city forever.
We do get to live in one of the best small cities in America (Durham, NC) so it makes sense that we love it. I think though that finding your forever place is a lot like finding your spouse- it is more about being the right person than it is about finding the right person. There is something about deciding to stay that makes you invest in relationships and your city and neighborhood differnently.
That’s great that you guys have been able to put down roots! And I love what you said about deciding to stay somewhere! You said it so well!
Johnny worked in Durham while we were in NC… we loved everything about it. I loved going to Duke Gardens with Sally, and I loved our experience at Duke Hospital for Sally’s birth. And so many cool little restaurants! You’re in a great place!
I was wishing I was a renter this weekend. Our fridge broke (50 degrees is good for eggs right?) and then our sewer backed up into our basement. There are definite advantages to renting. But with a solid emergency fund in place they were both easily-ish fixable.
No! So sorry to hear that, Andee. Why is it that when it rains, it pours? Glad to hear you guys had an emergency fund to put to good use. Way to go!
We bought in late 2012 figuring the market and interest rates were down, and are loving it so far. That said, we’ve been lucky and haven’t had any (knock on wood) major maintenance issues. We have no plans to move away from our city, and it’s our forever home as long as we’re here.
That’s great, Anne! It sounds like you guys made the right decision!
We’re in the same boat. We’re currently in the process of saving up for a down payment on a house and for a new (to us) car. I’m okay with having a baby in our current townhome, since it’s a two bedroom, but when the second child comes along, I’d really like to buy a house by then. So hopefully that gives us a few more years to save for a house–although we’d be open to snagging something sooner if the opportunity should arise. That being said, we wILL need a family car sooner rather than later bc our current cars are both two-doors, and neither will fit a car seat. Ugh. Too many expenses to think about!
I know what you mean! We thought we’d have our car forever, but carseats are ginormous, and so we’ll be selling it much earlier than we anticipated. I can attest that you don’t need a house with the first kid (and probably not the second, really), so no rush to find a house just yet. Keep on keepin’ on with saving for that down payment!
We bought in 2013 and while it’s been a bit of a stretch it had been nice to feel like we have roots, and that we could always sell of we wanted to.
That said, we had a long time of maybe, just keeping an eye out for the right place at the right time at the right (although in our case slightly too high!) price.
Glad you guys have found a place to put down roots! Hopefully Johnny and I will know when the time is right!
I’m not buying my very own home this 2014, but I’m hopeful that I could afford to by my own someday. I think having your own home and raising your children there is a great thing.
We’ve wanted to buy a house for a while, but a few things have hindered that: A.) Down payment (we’re working on that this year), B.) SoCal is crazy expensive! C.) Where do we really want to buy? (probably NOT California). So for us, this year is most likely a NO, but 2015 will be a YES.
P.S. I love your 50 States Project!
Lots of big decisions, for sure! Good luck in figuring out when and where to buy!
Two words: Conversion Van… it is a car and a home! No need to thank me, I just love solving problems.
As far as selling something this year? I will be selling my motorcycle. While I do love that thing, I just don’t have time to ride it since the little guy has been around. Also I don’t like the idea of wrecking it and leaving him without a dad.
Haha, if you know how I feel about minivans, multiply those feelings by 10, and that’s how I feel about conversion vans. But, A+ on creativity, Brian!
And way to go on selling the motorcycle. There’s so much Johnny and I no longer have time for now that Sally’s around. But we wouldn’t trade her for the world.
I’m thinking about buying a new place in 2016. If I’m still single, I will buy a duplex and rent out my little place. If I’m married (which I really hope I will be) then we’ll see what the hubs and I decided 🙂
That’s great to plan ahead, Michelle! And I like your plan B, too… Mr. Right could be waiting just around the corner!
We are on track to buy either this summer or extend our lease another six months into February 2015 and buy next winter. I know I’ll struggle to give up the perks of renting, especially since neither one of us is very handy. BUT, I am sick of moving and am ready to bust out paint and get crazy. Maybe slate gray? Sage? Off white?!?
Agreed, Rishenda! There are pros and cons of both, for sure. But I think we’ll be ready for buying when the time comes. And don’t even get me started on painting my own walls! Oh the dreams I’ve dreamed of changing the color of my bedroom!!
Hi, just stumbled onto your site while waiting to see how bad the rota or noro virus is going to hit Me. 3 of my 4 kids have are at the end………plzgod……of it. and, before you think O! 4 kids! ..my KIDS are ages 30 , 26 , 21 & 14……so it hasn’t been Anything like having sick babies…..the oldest didn’t say boo……but when I finally got that he WAS sick……not just a hangover, I sent a can of soup & some 7UP. and the 21yr old was neardeath, and I was frantic to get my shouldbeex to take time out of his Important time to get her to a Dr……I was trying to hold the hood onto my truck while adding a qt of oil……after dropping my 26 yr old off for PT…..she needs spinal surgery, but is getting jerked around by her employers ins co…….and 45mins away from the neardeath kid………luckily(sortof) my 14 yr old is now being homeschooled……bcuz myshouldbeex traumatized me & the kid……..but didn’t ACTUALLY hurt us), so he was home & set up a “sick room” for her, so I could wait & get the surgery kid, take her out for a little shopping/being normal time…..
I have to say first how jealous I am of all of you…….you’re so young and have such “grown-up” plans. I STILL haven’t gotten there and I’ve been married longer than any of you have been alive. I’ve spent my whole life just figuring things would “work out”, and, they usually do……but it’s been SO hard. Congratulations to all of you, and good luck with all of those huge decisions….I hope that somehow…….possibly thru osmosis……my kids will make the right choices, save for a “rainy day”, “plan ahead”, they certainly haven’t learned it from me. But, I wanted to warn all of you about what not to do……or, what I wished I asked the builder…….or, get it in writing….every last minute detail……because, even after buying 6, & selling 4 houses…….I STILL messed up on this one! but I’m pretty sure you’ve got a handle on that, too. Wish I’d been half as smart as you guys, but still happy to have gotten where I am. and no, good advice from much smarter, seasoned buyers, savers etc………didn’t faze me…..I still barged thru life and, even tho I now really KNOW BETTER……..I probably still will. thnx for reading….I Really needed to vent. duh …….. & plz don’t call child welfare……..myshouldbeex LOOKs like he’s a good parent………and I actually am.