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?