Reply to Moving to San Francisco. Help us settle our housing debate!

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[quote=Anonymous]Our family is moving to SF this month, and we've been put in temporary housing for three months. We've never owned, always happily rented. My husband wants to buy a house within that time span. I'd prefer to rent for a year to get the lay of the land, etc. Here are some of the broader points of our ongoing debate...

[b]My Points[/b]

1. We're looking at a neighborhood in San Francisco that would be a long commute for DH. I figure we should try it out for a year before we commit.
2. Due to a family circumstance, we'll be able to put a lot more money down if we wait a year plus, we'll be saving on rent for those three months in temp housing.
3. In my gut, I just don't feel comfortable buying a nearly $1 million home until we feel sure we are in love with the neighborhood. Though I think I'm just a renter at heart.
4. I'm wondering how an increase in interest rates will impact the crazy housing market over there.

[b]His Points[/b]

1. It would be great to save on expenses from moving by only doing it once.
2. Prices are only bound to go up in a year, up to 6%, so if we dig the neighborhood we should just go for it.
3. We may feel the squeeze for the first year but once the family circumstance rolls around, things will feel a lot better.
4. Why not get a low interest rate while we still can!

Anyone on this board btdt, and have a way to help one or the other of us see the light? Thanks for your insights!![/quote]

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