How to weigh one factor over another ? (Denver, Westminster: to rent, buying a house) - Colorado (CO) - Page 3 - City-Data Forum

Cyborgt800 · 03-05-2013, 01:50 PM

Then again most people don't realize it or admit it to themselves until later! If they bought the right house why are they looking again five years later...that's the average.

2bindenver · 03-05-2013, 02:26 PM

I would say their life has changed so that theirs needs are different. I would not categorize that was a mistake house.

People get married, change jobs, have kids, get promoted, become empty-nesters, want a different lifestyle - does not mean that what they bought, when they bought it, was a mistake.

People move because they can, or they want/have to. A fully informed buyer does not make that kind of mistake.

Cyborgt800 · 03-05-2013, 02:43 PM

...And a fully informed buyer is one that is completely familiar with all of the nuances of the area as well...something not possible for an out of the area person to do without living in the area for awhile.

OneMoreMove · 03-05-2013, 03:36 PM

I think that people buy a house, then they don't commiserate over whether they made the right choice unless they later realize that they really dislike the area. But, that doesn't mean that they couldn't have found a house that is a better fit if they had looked for a longer time.

For me, it's just hard to imagine that someone could come to a new city, and after just a couple of weeks they could identify the neighborhood where they will best fit. Especially in quite a large city like Denver. It takes a while to get the feel of a city, the commutes, the culture, the roads, everything. I am always surprised at how many people do it so quickly!

I also think there is negative feeling towards renting by many people, and the disadvantages of renting are overstated. For many, I think that renting is seen as some kind of a failure or something.

ArthurDaly · 03-05-2013, 07:44 PM

Quote:

Originally Posted by 2bindenver

Rule #1 There is no perfect house.

It's nonsense to think you can wait one more month for your "perfect" house to be put on the market at a fair price.

What happens if:
you find and move into a rental; your house is on the market now?
you find and move into a rental; your house is on the market in 3 months but it's 5% higher then it would be today?
you find and move into a rental; your house is on the market in 6 months, you can't afford it so you have to start over?

Interest rates aren't going to be less than 4% forever.

LOL, You must be a Realtor, you opinions are stated as facts, which I happen to disagree with.

Quote:

Originally Posted by OneMoreMove

I think that people buy a house, then they don't commiserate over whether they made the right choice unless they later realize that they really dislike the area. But, that doesn't mean that they couldn't have found a house that is a better fit if they had looked for a longer time.

For me, it's just hard to imagine that someone could come to a new city, and after just a couple of weeks they could identify the neighborhood where they will best fit. Especially in quite a large city like Denver. It takes a while to get the feel of a city, the commutes, the culture, the roads, everything. I am always surprised at how many people do it so quickly!

I also think there is negative feeling towards renting by many people, and the disadvantages of renting are overstated. For many, I think that renting is seen as some kind of a failure or something.

For me, so long as I have a good Landlord, renting beats home ownership about 100 to 1, and yes I have owned several houses. It's a bit like being in business for yourself - sounds wonderful until you discover the reality!

Cyborgt800 · 03-05-2013, 07:52 PM

Think of renting as leasing a particular car before actually buying it.

Dating for a year before marriage.

OneMoreMove · 03-05-2013, 07:59 PM

Quote:

Originally Posted by ArthurDaly

For me, so long as I have a good Landlord, renting beats home ownership about 100 to 1, and yes I have owned several houses. It's a bit like being in business for yourself - sounds wonderful until you discover the reality!

I love owning my two houses. But, it's because I love the houses and not because I think that they are such a great investment or that it's such self-evident financial wisdom that ownership is better than renting.

Katarina Witt · 03-06-2013, 08:06 AM

Quote:

Originally Posted by scrapper105

Katiana, I'd love to chat with you off-list, but your profile doesn't accept direct messages. Would you message me please ?

I sent you a DM.

Quote:

Originally Posted by OneMoreMove

I think that people buy a house, then they don't commiserate over whether they made the right choice unless they later realize that they really dislike the area. But, that doesn't mean that they couldn't have found a house that is a better fit if they had looked for a longer time.

For me, it's just hard to imagine that someone could come to a new city, and after just a couple of weeks they could identify the neighborhood where they will best fit. Especially in quite a large city like Denver. It takes a while to get the feel of a city, the commutes, the culture, the roads, everything. I am always surprised at how many people do it so quickly!

I also think there is negative feeling towards renting by many people, and the disadvantages of renting are overstated. For many, I think that renting is seen as some kind of a failure or something.

I agree with not being in a crazy hurry; I agree with renting for a period of time when coming to someplace entirely new. That's what we did. But this OP has other factors. She has kids, and doesn't want to keep changing schools. I have a friend who rented a house in the school district she thought they were going to buy a house in, but it turned out differently.

Thinking you will find something "better" if you just keep on looking, and looking, and LOOKING is erroneous. I wouldn't say buy a house over a weekend when making a very long distance move like the OP, but you can get stuck in "this isn't right, that isn't right" forever. The ideal for this poster might be to come out this summer and find some sort of short-stay place and then look for a place to buy. This OP has already done a bit of research.

I don't think any of this advice has anything to do with a stigma towards renters. Certainly, I don't stigmatize renters.

OneMoreMove · 03-06-2013, 08:17 AM

Quote:

Originally Posted by Katiana

The ideal for this poster might be to come out this summer and find some sort of short-stay place and then look for a place to buy.

That is really the same as renting, though. A short-stay place like a corporate apartment or long-stay hotel is no different then renting an apartment but with a shorter lease. Having a place to stay, even if it's very temporary and not ideal, seems like a good then when shopping for a house. Otherwise it's like going grocery shopping when hungry - but the stakes are higher.

Katarina Witt · 03-06-2013, 08:24 AM

Quote:

Originally Posted by OneMoreMove

That is really the same as renting, though. A short-stay place like a corporate apartment or long-stay hotel is no different then renting an apartment but with a shorter lease. Having a place to stay, even if it's very temporary and not ideal, seems like a good then when shopping for a house. Otherwise it's like going grocery shopping when hungry - but the stakes are higher.

Well of course it's like renting! It IS renting. I don't know what your argument is. This OP is ready to get settled.