Reply to House hunting is driving me nuts - DH and I are at an impasse.

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[quote=Anonymous][quote=Anonymous]Having just had a baby in an apt, I am so glad we do not have to take care of a house on top of everything else!  You should downsize for a year, save more money, and pay down your loans.  You aren't really losing much money in a rental, the stress of a mortgage on top of a baby is no fun.

Your dh is right, there is no rush.  Hold out for something that really suits you, and frankly wait till schools are an issue (not for five years, at least.). No need to jump on the mortgage bandwagon right now.  I would at least wait and see how things like daycare or sahm/d impact what you can afford.  You don't want to wind up trapped by your mortgage.

Also, Your plan to eventually buy up (with what downpayment?) and generate income on the starter rental is a) not your money to invest, it's his and, b) doesn't work out for a lot of folks, for various reasons, and is by no means a sure thing.  Why don't you put your energy towards earning more income, like looking into grad school or changing careees? Your income seems quite low for the area especially since you have invested heavily in your education.  I get that you have been on your own, and give you full credit (so was I, it's not easy, I know.)  But that doesn't mean the money he's saved is now yours to gamble with on an idea he's not really keen on, no matter how convinced you are it's a sure thing.  And yes, home ownership can be a big gamble.  Most of my friends have lost 20% on starter homes.  And boy are there some rental horror stories.  And, frankly, he's being kind to humor your idea when you haven't exactly shown money-making prowess thus far.  Stop trying to fix him and rely on him at the same time.  Be your own best investor.  Good luck. [/quote]

The 'mortgage bandwagon' is deductible interest and builds equity.
And I wouldn't buy in a district where you wouldn't send your kids to school because life happens and honestly you might end up never moving.

Renting homes in a good school district is not a bad option though if you could find a long term rental or a neighborhood with a big rental stock .
Often those homes are much less to rent than to buy (at least in my neighborhood). [/quote]

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