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Old Aug 2nd, 2015, 14:27 PM   1
Mrs P5515
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Homeowner v Renting, what are people doing?


This may be a slightly random post but I'm curious after a rather long debate today with my OH. We are currently in rented accommodation which is where we plan to stay if and when baby comes along. We have a very understanding landlord as it's my mum so have no worries in terms of our accommodation, but we keep returning to the debate of whether it's best to save a deposit and buy a house before having children (this will mean we are quite a bit older at this point) or continue to rent?

Anyone else out there having these conversations at the WTTC point? Or have you been able to settle the debate, and if so how?

Thanking you in advance



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Old Aug 2nd, 2015, 21:11 PM   2
y3llow
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Hello!

We have our own house now but a couple of years ago we were renting off my parents. To be honest there is more financial pressure now that we own a house than before, when we were saving. Before it was my parents (as landlords) paying for upkeep, whereas now that falls on us of course. I don't think it matters at all if you are still renting, and it's an even better situation when you are renting from family

I can see the downside of trying to save for a deposit when you have a family to support but to be honest, for us, we're still having to save as much as possible for the unforeseen things (e.g. the hot water cylinder needs replacing). In my mind it's six of one, half a dozen of the other!



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Old Aug 3rd, 2015, 08:41 AM   3
MindUtopia
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We rent and it really wasn't an issue at all in terms of TTC. We rented before we got pregnant and our daughter is now 2.5. We don't plan to buy a house for a few more years. In our case, the choice to rent is simply because we don't want to buy before we know we'll be staying in one area longterm. At the moment, my work means we'll move in about 2 years to live somewhere we plan to stay more permanently. We didn't want to invest in a property until we were sure about where work would take us. Also, until that time I technically work for a U.S. university and get paid there (into a U.S. account) and my husband had recently started a new business, all things that make getting a mortgage more complicated and expensive. So it just wasn't really a good investment for us and we're happy to rent. I do know a lot of people who believe they have to own a house before they get married or before they have a baby, but it just wasn't a big deal for us. I'm glad we made that decision and it's worked out well for us. If we had waited until I was ready to move on to another job and live somewhere more permanently, we would have been waiting until I was 37! So that just seemed silly. We've also not found it difficult to save money now that we're parents (we live pretty modestly anyway, our income is higher now than it was a few years ago, and we've graciously received a bit of inheritance from a family member who passed away, all of which has helped increase the deposit we have set aside).



 
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Old Aug 4th, 2015, 09:41 AM   4
callmedan
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me and my oh have just bought in April and stating TTC in August, i think its just whats right for you and it sounds like you have a good set up with your mum being your landlord x



 
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Old Aug 4th, 2015, 13:20 PM   5
SarahDiane
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My OH and I have decided to buy a house before we TTC. We are currently renting and he was really against having a baby while still renting. I wouldn't have cared either way but now that we are set on buying a home I'm happy with this decision. It has pushed TTC back a little bit, but honestly not that much and I like the idea of not being surrounded by a bunch of people living right next to us. Plus, our monthly mortgage cost will be cheaper than our current monthly rent.



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Old Aug 4th, 2015, 14:59 PM   6
Mrs P5515
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Thanks ladies, all very helpful!

This currently feels like such a dilemma for us. I know my 'perfect' scenario would be for me and OH to have our own home and know and feel it's all ours in prep for that much anticipated nesting. We've lived in our current home together for 8 years and although we've renovated to gain more space and decorated throughout to our own taste ultimately it's still my mums. I don't mean that to sound ungrateful I know we are extremely lucky to be able to live where we do and have the safety of having mum as a landlady but I do long for our first home.

Writing this, I can recognise that I'm wanting it all marriage/house and baby. I don't mean to sound spoilt, since getting married it all of a sudden feels like we need to get things together. We have recently had several meeting with mortgage advisors and other than saving our deposit we have the green light. Deposit however is our issue. We've recently got married and having had our dream wedding our savings have been depleted and I think realistically it would take us between 18 months - 2 years to save a decent deposit and still be able to live to a reasonable standard and to balance alongside this I have a rare medical condition and after undergoing 2 lots of radiotherapy I have finally been given the go ahead by my doctor with a warning that we need to get TTC ASAP. Ultimately having a family is far more important to us than our own home but part of me feels like although we haven't started our parenting journey yet, were already not providing what we should. I don't mean to offend anyone with that comment I just always had such a fixed vision of how things would be and this is going against that and it feels really hard.

I guess it's not perfect but it's our journey.



 
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Old Aug 5th, 2015, 05:33 AM   7
SGP517
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We own our house. Where we live it is about the same to rent vs. Own. We thought it would be best long term to own. Now we are planning on doing an addition to make room for more babies. It is a tough choice.



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Old Aug 29th, 2015, 11:47 AM   8
vtasorl88
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We currently rent and will continue to do so after we have a baby. It does not make financial sense for us to buy a home when we plan to move to a new state in 2017 for my husbands job.



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Old Aug 31st, 2015, 04:45 AM   9
maryp0ppins
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we bought a place last August.
my dh would not even consider TTC until we owned a place and we were married, for him it was important.
I would have had a baby whilst renting and unmarried!
its totally up to you, lots of children grow up in rented accommodation



 
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Old Aug 31st, 2015, 04:59 AM   10
xstitcher87
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Renting - definitely, we don't care, we'll have plenty of time to buy, why wait.



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