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AgentGrn · Joined: 28 Sep 2006 Posts: 82

Hello! I've been a long-time follower of the news posts and a forum troller and decided to sign up on the forums and put in my 2 cents.

My wife and I are definitely waiting for this crazy market to equalize itself out some ... probably going to be another couple of years anyway. Coming up with 20% for a downpayment while juggling 401ks, a roth IRA, and a newborn is a bit of a challenge.

Admittedly, I'm rather conservative and consider where I live to be a shelter first and that my retirement is made up of 401k and IRA accounts and the like. Given that I have a newborn and my wife got laid off this week, anything we want to buy is going to be largely based on my salary.

With the current run-up, there is virtually nothing outside of Worcester that I consider reasonably affordable. It's no so much that Worcester is a bad city ... it's just that I dread the car insurance bill every year and would rather be on an eastern suburb to bring an ounce or two of relief to my commute.

I remember reading somewhere that the best time to buy is when everyone is saying it's the worst time to buy. Considering the droppiong values of homes may well exceed my cost in rent over the next few years, waiting things out seems to be the best option.

Billk · Guest

Good for you - take your time.

We owned a home and sold - I was frightened about the possibility of a defalting Housining Bubble.
We emotionally miss owning a home.

But, because we rent our weekends aren't spent mowing the lawn or finding paintiing contrators or repainting rooms. When it snows in the Winter the Town House association handles the snow removal (the condo fee is paid by the owners - not us).

In the last two years we have spent approximately $35 on improvements on this home. Not owning a home has some big advantages for your budget.
I have a young child and we spend all our free time together as a family.

Keep in mind in Switzerland the Renting is the norm and owning a property is the exception. Do you think of the average Swiss Citizen as financially poor????

admin · Posted: Thu Sep 28, 2006 5:23 pm GMT Post subject:

Welcome to the forums.