To buy or not buy?

[Red Chili]

You are way over thinking this. Buy what you can afford right now depending on your income & your husband's pension. Thr GI Bill will not pay 100% of the tuition but will help. Good luck.

[mandasand]

Originally Posted by Red Chili

You are way over thinking this. Buy what you can afford right now depending on your income & your husband's pension. Thr GI Bill will not pay 100% of the tuition but will help. Good luck.

His tuition will be covered 100%. You have no idea what benefits he has.

For the sake of flexibility, we will probably rent and reassess every year. I'm not super excited about spending $2500 a month for a small 3 bedroom house, but it is what it is. I am spending $1650 for a condo that is in desperate need of repair and I am way over-paying for what it is. I had to adjust my expectations by moving here for sure!

I don't really care about anyone's opinions about our family planning. The question is should we buy or rent? We've got $80-100k for a down payment and our income is in the 6-figures (even after he retires). I make more than my husband. I also have more potential for growth in my job, obviously, I moved here because they offered me a promotion to work in the SD office. I will receive another promotion at the first of the year.

Sometimes plans change. When we got married, my husband was planning on being a stay-at-home dad after he retired. Now he wants to go to school. So, we'll have to get a nanny and I will work a more flexible schedule at work. All the women I work with have nannies/babysitters. Doesn't mean we will be absentee parents, just means we will need some help. I grew up in a very progressive household. Both my parents worked. My sister and I were not negatively affected by this.

I have change my perspective about schools. I think it would be wise to find a house in a better school district. Just a smarter choice. If all the kids are college prep, that has a more positive influence than the alternative.

Thanks everyone for your insights.

[goodlife36]

Originally Posted by mandasand

We could rent the house for $1900-2200 a month. We pay $600 a month in real estate property taxes because we have very high mello roos taxes. We have $118 a month HOA dues. We would probably have to cover some part of utilities, like water and trash and perhaps a gardener. We have a 1/4-acre lot that is all grass, and unless we want that to go to hell, we should probably keep the landscaper for $80 a month. We would need to use a property management company, which will knock off another 10% a month that we will get back. After all that, we would barely break even. Then if something goes wrong, like an appliance fails or the house is destroyed and all 3000 sq ft of carpet needs to be replaced, that would cost way more than a security deposit. Just seems too risky to keep. I think if we wanted an investment property, in the future, when we receive our inheritance money, we could buy a townhouse or condo in SoCal and use that as a rental.

I agree. It's is just too much.

[Pedro2000]

Originally Posted by mandasand

His tuition will be covered 100%. You have no idea what benefits he has.

For the sake of flexibility, we will probably rent and reassess every year. I'm not super excited about spending $2500 a month for a small 3 bedroom house, but it is what it is. I am spending $1650 for a condo that is in desperate need of repair and I am way over-paying for what it is. I had to adjust my expectations by moving here for sure!

I don't really care about anyone's opinions about our family planning. The question is should we buy or rent? We've got $80-100k for a down payment and our income is in the 6-figures (even after he retires). I make more than my husband. I also have more potential for growth in my job, obviously, I moved here because they offered me a promotion to work in the SD office. I will receive another promotion at the first of the year.

Sometimes plans change. When we got married, my husband was planning on being a stay-at-home dad after he retired. Now he wants to go to school. So, we'll have to get a nanny and I will work a more flexible schedule at work. All the women I work with have nannies/babysitters. Doesn't mean we will be absentee parents, just means we will need some help. I grew up in a very progressive household. Both my parents worked. My sister and I were not negatively affected by this.

I have change my perspective about schools. I think it would be wise to find a house in a better school district. Just a smarter choice. If all the kids are college prep, that has a more positive influence than the alternative.

Thanks everyone for your insights.

Honestly this is about as selfish a comment as I've seen.
Think what you want of me, but in person or on the internet, I'd say the same damn thing to somebody like you.
Anybody who doesn't think kids will require changes and sacrifice shouldn't be having kids.