T'smom Posted July 18, 2011 Share Posted July 18, 2011 (edited) Would you buy a house if you thought there was a good possibility of moving in three years? We have been living in a tiny awful rental for 2 years. It started because dh got a job here and we couldn't sell our old house in another state. We have since sold the house, but we were having a baby and lots of other things going on and we haven't bought another one. I am SICK of living here. It's not big enough. Lots of issues with it. BUT there are problems where dh works. He's often under pressure to do things that are unethical at best, illegal at worst. He doesn't believe that he would be fired for not going along with these things though. (he doesn't give into this pressure) He wants to find another job- but not until he's been at this one for 5 years because he would lose a significant amount of retirement benefits. The rental market does not seem to be very promising. The area we live in is fairly rural and if/when he got a job, we would probably have to move. Although we live in the area that he wants to stay in, so it probably wouldn't be too far away for him to commute to for awhile. There is a house that, while not perfect, is pretty great. So, would you buy or look for a different rental? ETA: The mortgage payment would be less than what we would pay in rent for a similar place. Except that there aren't any similar places.....so rent would probably be slightly more than the mortgage payment would, but it would NOT be as nice a place. Edited July 18, 2011 by T'smom Quote Link to comment Share on other sites More sharing options...
Mama Geek Posted July 18, 2011 Share Posted July 18, 2011 Honestly, I would want him to start looking for a job that he is happier with. I know the idea of the retirement money is nice but most direct jobs offer vesting after a certain amount of time and he could be working towards that for the next 3 years at a job he likes. Quote Link to comment Share on other sites More sharing options...
In The Great White North Posted July 18, 2011 Share Posted July 18, 2011 Nope. I have a house I've been trying to sell for 10 years (at below what it's assessed at) Quote Link to comment Share on other sites More sharing options...
Halcyon Posted July 18, 2011 Share Posted July 18, 2011 We are in the same boat. Will likely be here for 2 years more, maybe 3 MAX. Rental market doesn't really exist, and what DOES exist is more expensive than comparable purchases. We are living in an okay rental now, nothing great at all, and have been for 2 years. I don't love it, I don't hate it. I'd love to own a home. But the market here is really bad-it could be the bottom, but maybe not. I have a friend who bought a house for 400,000 and it's assessed now at 150,000. She's stuck. I would hate that to be us in 3 years. Quote Link to comment Share on other sites More sharing options...
Susan in KY Posted July 18, 2011 Share Posted July 18, 2011 I would tell him to ditch the retirement and go get a job he loves—anywhere! Just don't stay miserable for 3 years because of money. There are ways to deal with the money issue. Not having that stress is way more important. Susan Quote Link to comment Share on other sites More sharing options...
DawnM Posted July 18, 2011 Share Posted July 18, 2011 I would rent a bigger place....paying a bit more in rent is by far cheaper than having a house you can't sell and sits empty for years while you pay mortgage on it. Can't comment on the retirement thing because I don't know the parameters. Will he get retirement opportunities at the new job? Will they compensate for his loss at this one? Dawn Quote Link to comment Share on other sites More sharing options...
T'smom Posted July 18, 2011 Author Share Posted July 18, 2011 Well, he doesn't have a new job yet. He's not miserable, he enjoys what he does, but sometimes something comes up where it's his call as to what happens and people don't like the call that he makes. They pressure him to make a different call. He's the one that said he wanted to quit, but not for another 3 years. I certainly didn't tell him to not quit. (Though I HAVE been pushing for some change, I do NOT want to live here anymore) The company will match what he's put into retirement....but not until he's been there for 5+ years. Quote Link to comment Share on other sites More sharing options...
black_midori Posted July 18, 2011 Share Posted July 18, 2011 I wouldn't buy unless you plan to stay in a house significantly longer than 3 years - probably upwards of 7-10 or so. Just rent - you'll save yourself a LOT of future headache! Quote Link to comment Share on other sites More sharing options...
Garga Posted July 18, 2011 Share Posted July 18, 2011 Rent. Is there a way to find out how long it takes houses to sell so that you truly KNOW what sort of hassle you'll have trying to sell in 3 years? I know that the houses for sale on my street have been for sale for YEARS. I live in a semi-rural area. Quote Link to comment Share on other sites More sharing options...
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