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Old 03-10-2009, 10:33 PM
 
Location: Nothing could be finer... I'm in S. Carolina!!
1,294 posts, read 5,959,746 times
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i meant 180k or 190k, sorry!
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Old 03-11-2009, 09:50 AM
 
Location: NoVA
230 posts, read 1,002,638 times
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How much money down? Interest rate?
With 10% down and 5.25%, it looks like the payment difference would be roughly $350 more for option B.

Without knowing your incomes, tough to say but I would opine that most married couples would always prefer that 2nd bedroom..for guests, computer desk, future baby, husband to have closet space , etc. Resale value also a big plus.

If you are both working, I say go for it (option 2) if you WOULD be able to swing it on one income, with savings as a buffer of course.
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Old 03-11-2009, 10:06 AM
 
983 posts, read 3,488,658 times
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Quote:
Originally Posted by Sam82 View Post
Option A: a one bedroom, one bathroom condo at the price of $150,000. The advantage is that we can afford the condo on just one of our incomes. The disadvantage is that we would have to move a couple of years after having a child (if we decide to have children).

P.S. We would not buy the home until after we are married.
I advise against buying a house knowing that you will move within 5 years. Selling A and buying B at the same time is no fun at all, not to mention it's costly.

If having a child is a possibility in the next 5 years, why not rent till you have a baby and then buy option B?
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Old 03-11-2009, 10:17 AM
 
Location: Boca Raton, FL
4,856 posts, read 8,335,312 times
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Smile 1 bedroom vs 2 bedroom

I would always go for the 2 bedroom - 1 bedrooms are harder to sell in the long run. In this market, you can always make an offer and you may be surprised at what you get.

(Hint: Look for people who have owned for a long time or who have no mortgage and may just want to liquidate).
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Old 03-11-2009, 04:28 PM
 
901 posts, read 2,614,566 times
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Thanks, everyone. I'm definately not going to get the one bedroom. Yes, BF and I both work. Our income is about $100,000 combined and I think that we would qualify for the $200,000 house. As for the children issue. If I decide to have one, it will be about 10 years from now.

There are so many things up in the air that I've decided that I will stop even thinking about buying a home for at least a year. Until then, I will continue to squirrel away money. It sounds like prices won't be going up too much in the next year, so I should be okay.
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