2023 Real Estate Observations (renter, downpayment, kids)

[newenglandgal123]

Originally Posted by charolastra00

With current interest rates at 10% down, that's only about 400K. Since buying means I'd be locked in for a few years, I'd need to be both close enough to work and at least have 3 bedrooms because if I'm going to have kids, I'll need to do it during that time period. There's nothing at that price point within an hour of work. Obviously lots of people do it smaller, but with two people who work partially from home and a 165 lb dog, a 2 bedroom with a baby or toddler really isn't feasible.


Not to mention if I wanted to extend my lease at this point to wait for a closing even if I bought something tomorrow, they'd charge $5K a month for a short term lease.

165 lb dog....woah... a Great Dane? How did you manage to find an apartment that allows that size? I've heard many places cap the weight limit on dogs at 25 lbs. $5K for short term rental sounds like a crazy price too unless it's a direct waterfront property or something. Yeah, this is just a terrible time to be in the market. I know I was seriously looking for awhile a couple months back but put my plans on hold until market conditions change.

[simplexsimon]

Originally Posted by charolastra00

With current interest rates at 10% down, that's only about 400K. Since buying means I'd be locked in for a few years, I'd need to be both close enough to work and at least have 3 bedrooms because if I'm going to have kids, I'll need to do it during that time period. There's nothing at that price point within an hour of work. Obviously lots of people do it smaller, but with two people who work partially from home and a 165 lb dog, a 2 bedroom with a baby or toddler really isn't feasible.


Not to mention if I wanted to extend my lease at this point to wait for a closing even if I bought something tomorrow, they'd charge $5K a month for a short term lease.

Renting sounds better than owning by a lot for your situation.

What do you feel you're missing by not owning?

[yesmaybe]

Originally Posted by simplexsimon

Renting sounds better than owning by a lot for your situation.

What do you feel you're missing by not owning?

Well, if the crash doesn't happen, housing prices close to Boston are going to continue to go up.Yet if the crash happens, prices could still go up and OP could lose their job.

[simplexsimon]

Originally Posted by yesmaybe

Well, if the crash doesn't happen, housing prices close to Boston are going to continue to go up.Yet if the crash happens, prices could still go up and OP could lose their job.

But she can't buy what she wants. She's able to get it through renting, there's value in that.

[redplum33]

Originally Posted by charolastra00

and a 165 lb dog

The way I see it, you have 2 realistic choices:

1. Stay where you are, renew your lease, and deal with the commute.

2. Buy a house and pay the ridiculous short term lease price until closing.

With the way the rental scene is in the Boston area, I think you're going to have tremendous difficulty finding a place that will allow a 165 lb dog. Your current place is ok with it.

[charolastra00]

Originally Posted by newenglandgal123

165 lb dog....woah... a Great Dane? How did you manage to find an apartment that allows that size? I've heard many places cap the weight limit on dogs at 25 lbs. $5K for short term rental sounds like a crazy price too unless it's a direct waterfront property or something. Yeah, this is just a terrible time to be in the market. I know I was seriously looking for awhile a couple months back but put my plans on hold until market conditions change.

Leonberger - they're pretty rare. Right now he lives on the farm where my boyfriend and his family live and the small business is based. They rescue big dogs like Newfies and St. Bernards, which is how my boyfriend got his leo. He definitely wasn't thinking about the Boston rental market, though! There are places that take big dogs - a lot only have bitey breed restrictions - but overall it really limits availability.

We'll find something that works, just will be more likely to end up in another big corporately managed complex, which I was trying to avoid. But overall, it's wild how expensive and limited the market is. It's no wonder none of my friends have kids in our mid 30s and why so many couples - including married - are still living with roommates!

[charolastra00]

Originally Posted by redplum33

The way I see it, you have 2 realistic choices:

1. Stay where you are, renew your lease, and deal with the commute.

2. Buy a house and pay the ridiculous short term lease price until closing.

With the way the rental scene is in the Boston area, I think you're going to have tremendous difficulty finding a place that will allow a 165 lb dog. Your current place is ok with it.

My current place is not OK with it, which is part of the reason we need to move. The dog does not live here and is unable to visit, and the 3 hour round trip commutes are killing me (literally - the weight gain alone from lack of activity, quick meals, and stress is tough to deal with).

[msRB311]

I say get pregnant now so you can go on leave and not have any commute. Then when it's time to go back say you have a medical issue requiring you to wfh. Or just say you have to wfh and get a drs note and stay where you are.

[massnative71]

Originally Posted by msRB311

I say get pregnant now so you can go on leave and not have any commute. Then when it's time to go back say you have a medical issue requiring you to wfh. Or just say you have to wfh and get a drs note and stay where you are.

Um, that's not how the world works.

[msRB311]

Originally Posted by massnative71

Um, that's not how the world works.

I've seen it work that way for some