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I moved to from TN to IN a little over a year ago and have a stable job. I'm now in my second year of renting and am thinking of buying either a small house with a small yard (in towns probably northeast of Indianapolis) or a condo in the Indy suburbs. I don't mind small amounts of yard work (wouldn't want anything I need much more than a push mower, weed eater, and hedge trimmer for). I don't want to be on a hill nor do I want to be mowing for hours.
I have some loud neighbors and trashy people in the apartment complex. Many times the dumpsters are full with large items like TVs and furniture. I'm getting somewhat tired of renting.
Once we were out of graduate school and had stable jobs, renting got old. No matter how nice the apartment/townhouse was, communal living means you have to deal with other people's bad behavior. Generally when people are young this doesn't bother them as much, but once you are married and established and are thinking about starting a family, it's time to buy a home where you can have your own space. Buying is a smart move right now because most of the time it costs more to rent a decent place than pay a mortgage on a nice house. It's about growing up and realizing all of the benefits of owning vs. renting (equity, taxes, privacy, personalization, etc.) and being responsible enough to save for a downpayment. This happens for different people at different times, but we were in our late 20's when we bought our first house.
When I was 33 - a single woman, who finally gave up on living in the city (downtown Philly) and moved to Scottsdale, AZ. Financially, I could have purchased years before.
I waited because I truly enjoyed and took advantage of the flexibility and lack of maintenance of renting. It was worth every dollar I SUPPOSEDLY flushed down the toilet paying my landlord's rent.
When I decided to relocate to Phoenix, I rented for 2 years to make sure I was going to stay and to decide where to buy. At that point, my primary reason for buying was because I wanted a dog, and did not feel that it would be fair to have a large dog in an apartment. I also wanted to paint the walls and make myself a 'home.' Lastly, there was the investment advantages, but I considered that secondary to my decision to be a homeowner; however, it was an important consideration when selecting the home I eventually purchased.
I purchased a 1500 sq foot patio home with a backyard the size and shape of a lane in the bowling alley. Took me less than 2 weeks to kill off the grass and put down rock, a bbq and a table with chairs. Owned that house for 7 years until I married and he wanted a bigger backyard for that same dog!
Now, we're retired. Downsized to a 2000 square foot house that includes grass and yard maintenance in the HOA fees. If I were not married to the same guy, I'd probably be renting again, but he's more of a nester and needs his own home.
I wanted to own at a young age. Had to deal with a ****ty landlord who was very unethical and my short (one year) expierience gave me a resolve to not have to deal with people like him any longer. So I moved back home and worked LOTs of overtime (70 hour weeks) to amass a sizable downpayment and I purchased my first condo, a 2/2 handyman's special, at 21 years old.
When I was 23. Never rented, bought a house on auction fixed it up and lived there 13 years. Building another new house this year!
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