Buy now or Renew Lease/Wait to buy - The Woodlands

[Gaylord_Focker]

Originally Posted by Texascrude

When you own, about $50k of that $60k you mentioned also goes to someone else unless you pay with cash. If you plan on staying put for 10 years go ahead and buy when you’re ready. If you’re going to move or upgrade in less time than that, you may very well end up worse off with the direction prices are going to go.

Makes cents. Yeah, it's a tough decision, not looking to flip, this is probably gonna be a 5 year move at least.

Originally Posted by H'ton

Your problem is you have a high rent.

Drop your rent down, save the difference, or invest, and then you'd have a healthy down payment WHEN a steal comes along and there are about to be many steals in the upcoming year.

I live in Seattle, it's a necessary evil. Could I find a cheaper place, yes. Don't intend to though.

[fnh]

Hey G-F, I missed the Seattle part. Are you looking to move to Houston? We live in both Seattle and Houston.

Don't neglect to consider property taxes in Texas in any purchase calculation. They are much higher in TX, for less return, and you aren't getting that money back either.

[Gaylord_Focker]

Originally Posted by fnh

Hey G-F, I missed the Seattle part. Are you looking to move to Houston? We live in both Seattle and Houston.

Don't neglect to consider property taxes in Texas in any purchase calculation. They are much higher in TX, for less return, and you aren't getting that money back either.

I've considered it, I have a lot of roots in Houston, but I love the west coast. Yeah, property taxes are high in Texas, WAshington has them as well, but not quite as bad. That's why when people say housing is cheap in Texas, yes it is, sort of.......

[WRM20]

Originally Posted by H'ton

Your problem is you have a high rent.

Drop your rent down, save the difference, or invest, and then you'd have a healthy down payment WHEN a steal comes along and there are about to be many steals in the upcoming year.

$2500 isn't that high for a decent house in Houston. Heck, our 1400 sq ft 2/1 would rent for that.

[Gaylord_Focker]

Originally Posted by H'ton

Your problem is you have a high rent.

Drop your rent down, save the difference, or invest, and then you'd have a healthy down payment WHEN a steal comes along and there are about to be many steals in the upcoming year.

A friend mentioned this too. Buy now, if yo ulive in it for years you'll be fine. But there's a potential for missed opportunity to buy in a buyer's market. Prices are dropping some, but not a lot. But, I'm also not anticipating a 20% drop.