Thoughts on RENTING VS. BUYING in metro Atlanta area? (Covington: apartment, rental) - Georgia (GA) - City-Data Forum

pcsn0122 · 06-13-2014, 02:43 PM

My husband and I are about 30 yrs old with 3 girls (ages 10, 4 and 7 months). We currently live in Buffalo, NY and would need to sell our home here and considering if we should rent first or buy a home. Obviously, with the distance it will be more difficult to look at potential homes. But, we hate the idea of renting and throwing our money away, having to move again, and possibly changing schools again (if we dont buy where we rent). It seems like home inventory is a lot more sparse than when I was browsing a few months ago. We'd like to live somewhere semi-rural/rural. I stay at home with kids while my husband is a truck driver so we can move almost anywhere. Budget is $150k for a house or $850 or so to rent. Any feedback is appreciated.

cwkimbro · 06-13-2014, 03:04 PM

I'd lean towards renting from how unsure you sound.

You really need to feel confident on buying a home. The cost of selling/buying another home is larger than the money thrown away on rent for a short while.

Make sure you get your neighborhood/home preferences right.

One idea to ponder.... If you can increase your rental budget, you can always rent month to month or take a short term lease to come down here and look for a home. If I could have given you this advice several months ago I'd suggest moving right after the kids get out of school and you have the summer to house hunt.

But if you can come down here enough to look around and feel comfortable in your buying decision, then do it.

AnsleyPark · 06-13-2014, 03:05 PM

If you can, I generally believe in buying, particularly while interest rates are low.

erick295 · 06-13-2014, 03:14 PM

Renting isn't "throwing money away."

Buying a house and selling it in a year because you changed your mind is throwing money away. Buying a house you hate and then living in it for 5-7 years just to break even is throwing your life away.

Buying isn't "the American Dream (TM)" or "the right decision." It's an enormous and investment that carries risk. It may or may not pan out. It's made some people rich. It's also ruined people's lives.

Get that "eww, renting" stigma out of your mind and rent a place so you have time to figure out where you really want to live before you make a commitment you might regret.

Schemula · 06-13-2014, 03:47 PM

I just bought (in-town) and my reasoning was two fold.

Firstly, I had neighbor issues for the first time ever and **** got ugly fast and there was no real solution and we were jaw to jaw mean mugging and threatening to light the place up. Rental neighbors can be hit or miss, but when they miss, they can miss by a long way and basically, you'd almost have to move, nobody else is going to care much about the situation. I'm actually in a condo and expected a little more, but the HOA had zero interest and the owner/landlord actually made it worse.

Secondly, rents are pretty high right now, maybe not in metro Atlanta, but, definitely in-town. It's more money, but, I'm getting into a nice house for marginally more than a nice 2 bedroom would cost in-town.

Maybe look into the Conyers/Covington area? You may have to go a little further out that even at that budget, but, I think you'd be surprised, you may be able to get into a house, although $150k may really end up being more like $170-180k. For the kids sake, I would think the stability of owning in a place where you think the schools are going to be ok would outweigh apartment life.

I have some friends in Madison Georgia (an easy 60 miles out side of the city, close to I-20) and they like it out there quite a bit.

Just my opinion. Worth .02 on a good day.

DaBurgh · 06-13-2014, 04:48 PM

Just to give some perspective..850 was the cheapest place I could find to rent a small 2BR house, and I'm single with no kids. These places were in questionable areas, too. I ended up buying and am happy with the decision. But I was already living here and knew the areas. Assuming you need at least three bedrooms, and good schools, you'll have to increase your rental budget quite a bit, to at least 1000 to live in the exurbs of Atlanta. That may not even be enough, as we get closer and closer to the start of school, rents will increase.

pcsn0122 · 06-13-2014, 07:07 PM

Quote:

Originally Posted by DaBurgh

Just to give some perspective..850 was the cheapest place I could find to rent a small 2BR house, and I'm single with no kids. These places were in questionable areas, too. I ended up buying and am happy with the decision. But I was already living here and knew the areas. Assuming you need at least three bedrooms, and good schools, you'll have to increase your rental budget quite a bit, to at least 1000 to live in the exurbs of Atlanta. That may not even be enough, as we get closer and closer to the start of school, rents will increase.

We ccould increase our rent budget to $1000 to be in a nicer safe area. We definately would only want to rent month to month or a 6 month least max. That's only so we can get familiar with the area more and have time to search for a home. It would be next summer at the soonest we can move.

pcsn0122 · 06-13-2014, 07:09 PM

Quote:

Originally Posted by DaBurgh

Just to give some perspective..850 was the cheapest place I could find to rent a small 2BR house, and I'm single with no kids. These places were in questionable areas, too. I ended up buying and am happy with the decision. But I was already living here and knew the areas. Assuming you need at least three bedrooms, and good schools, you'll have to increase your rental budget quite a bit, to at least 1000 to live in the exurbs of Atlanta. That may not even be enough, as we get closer and closer to the start of school, rents will increase.

We ccould increase our rent budget to $1000 to be in a nicer safe area. We definately would only want to rent month to month or a 6 month least max. That's only so we can get familiar with the area more and have time to search for a home. It would be next summer at the soonest we can move. ive been looking into Loganville and surrounding areas.

DaBurgh · 06-13-2014, 07:14 PM

Quote:

Originally Posted by pcsn0122

We ccould increase our rent budget to $1000 to be in a nicer safe area. We definately would only want to rent month to month or a 6 month least max. That's only so we can get familiar with the area more and have time to search for a home. It would be next summer at the soonest we can move.

Do you prefer the lake and/or mountains? My area may work (Cumming). Search for properties on the 30041 zip code and surrounding areas.

Do you fly? Something on the South Side of the Metro may be preferable so that you have easy access to the airport.

pcsn0122 · 06-13-2014, 07:50 PM

Quote:

Originally Posted by DaBurgh

Do you prefer the lake and/or mountains? My area may work (Cumming). Search for properties on the 30041 zip code and surrounding areas.

Do you fly? Something on the South Side of the Metro may be preferable so that you have easy access to the airport.

We'd prefer lake over mountains. No flying required so thats not a factor. Somewhat rural but close enough to grocery store and fun kid friendly activites is important.