Which would you choose?

[acejka]

If you had the chance to live in a gorgeous home with a backyard pool,3 bedrooms, 2 bathrooms and nice sized yard, but it meant that you had to get a job and work, so that you'd be able add to savings and have "fun" money

or

you could live in a very nice luxury type apartment, same number of rooms and bathrooms, ground floor (well whichever your preference is, mine would be ground) pool in the apartment complex, but you wouldn't have to work, you could be a stay at home wife/mom/husband/dad/whatever title you choose, and work on your college degree and wouldn't have money problems doing this, all while saving.

In either scenario, you would be renting the home or the apartment for at least one year. You are not ready to purchase the home.
Which would you choose and why?

 

[mousey]

I would take the apartment. Sounds great!!!

 

[SwedishMeatball]

I would work on my college degree.

 

[DMickey28]

I have faced this same situation MANY times before. I am a little older than you but have been in your place before my DS was born. (If we are talking about a choice for you!!)

IF you are not ready to buy a house I would rent the cheaper apartment. You could still go to work if you want and put even more money away if you choose or you can work on your degree.

You are moving to a new area right? Getting a job if you NEED to might not be that easy ... is it Orlando you are moving to? I would not get into a situation where you HAVE to work. You have plenty of time for the "perfect" house.

I am almost 31 and have rented my whole adult life. I have been a stay at home mom for the last two years and still live in an apartment. We are planning on buying our first home in the next 6 months after moving home to my parents house for a few months to save more money. We have lived in AWESOME apartments for $2100/month, $1900/month and this one at $1600/month. We have rented two houses at $1500/month and $1350/month. The apartments just have less to worry about. Unless the house was the same price for more space or less for the same space, I would not rent it over an apartment. In the scheme of things, it's not that much of a difference if you pick the right apartment complex.

Good Luck.

 

[Shyvioletisme]

the apartment..definitely...but then again, I like apartment living.

 

[Mrs.Reese]

No work without having to worry about money wins my vote everytime. Stuff is nice but money problems can destroy a marriage.

 

[Angelhalo]

Definitely the apartment!

 

[laurie31]

We've been faced with this decision. We wanted the house so badly, but we also were not ready, we were not in a place to afford it then. We waited, we saved, and when the time was right we did buy the house. You will never regret waiting, especially when you come right out and say "you are not ready to purchase the home" in your scenario of the choice. You know the answer.

Because we waited, we have a beautiful house we can afford, with a mortgage that is only 16% of our income, and we will have it paid off in 4 more years. People see our home and think we're mortgaged up to our eyeballs, but we are not. Delayed gratification is a wonderful thing. The house will still be there when you ARE ready.

 

[minkydog]

The apartment, definitely. You have no maintenance, someone else cleans the pool and there is no long-term commitment. When you get done with the degree you can pick up and move as soon as the lease is ended.

 

[aristocatz]

Ok, I'm gonna go against the grain here & say the house. I am all done with apartment living, like my privacy with a house, & I don't mind a little work.