Well... What should I do? House, or apartment?

[Sarra]

Why hello! My gosh, I so rarely venture off my mountain...

Anyway. If you don't read my journal (it's just rambling, nonsense, technical jargon, and the random project worklog anyway), you are probably still sane. You probably also don't know that I have been hired on at a job. This means, I will have that weird stuff, I can't remember what it's called... In...Come? Whatever that stuff is. Money? Yeah, that's it. So, I will finally, millions of eons after finishing high school, be able to move out of my parent's house.

Sooooooo... The debate. I live in a rather crappy area for housing. Should I spend more than it is worth to me to rent a room, more than it's worth to me to rent an apartment, or should I just buy a house? This area is being broadsided by foreclosures still, so finding a cheap house shouldn't be a problem. And then I can run around nake... Er, let's not go there. :p

Does anyone have any practical advice on renting vs buying a house? $800 a month gets you a hole in the wall that's barely up to code here for an apartment. Roommate wanted ads are actually pretty thin right now, and the ones that are advertising, I suspect may be for the same kinds of rat holes as the apartment ads tend to be for.

If I do decide to get a house, what should I look for? How do I find out what the real value of a house is? How can I get it cheaper? Any MORE practical advice here? I belong to a Credit Union with a housing specialist (mortgages and housing loans and such), should I go in and speak to this person? I trust this CU, they have never screwed me before. In fact, I think I should roll my 401K over into a Roth IRA over there... I forgot to do that... Oops.

[Shang]

If you decide to go for a house, look at foreclosures because you can get some decent houses for cheap, at least in my area.   Also, go in and talk with the person at the CU and when you talk to the owner, see if you can knock down the price a little bit.  A lot of people in this economy are willing to drop a decent chunk of money from the original price.  I live in an apartment and it can be pretty expensive, but I chose it because there aren't any decent houses towards where I go to school.

[Sarra]

yeah, I got a car, and once I get it paid off, I wanna get a second one. Plus, I want to be able to decide what pets I can own, have the garage to myself, etc.

I'll go in Friday and talk to some people at the CU then. Thanks!

[Hikari]

I am a bit biased, even though I have lived in almost any situation imaginable (From a car, to a massive former plantation house on 30 acres), and I think there is nothing wrong with an apartment. In fact I just moved into an apartment in a small city, and even though the rent is technically more than the house I just moved out of I am still saving alot in both time and money.

The problem with a house is the maintenance, especially if you live outside of a suburban neighborhood, it can feel like fighting a war: against the grass, against the gutters, against the deer who want to pick through your garden and trash, etc.

For me it has been such a relief, the other day the power went off and instead of, lets go look at the fuses (Or breakers if you have modern stuff) it was lets go call maintenance. 15 minutes later, and our main breaker was replaced, and if didn't cost me a thing, nor did I have to crawl around some murky basement.

If you are a DIY person, then great deals on houses can be found, but sweat equity isn't best for the likes of me. I have had to poke around in electrical and plumbing far more in these past few years than what was best for me, I will save my DIY for computers and paintball...

[Shang]

For me it has been such a relief, the other day the power went off and instead of, lets go look at the fuses (Or breakers if you have modern stuff) it was lets go call maintenance. 15 minutes later, and our main breaker was replaced, and if didn't cost me a thing, nor did I have to crawl around some murky basement.

That's why I like apartment living, though I did accidentally blow a fuse and had to fix it myself the first week I was in the apartment....I also filled the apartment with smoke on accident so I had to open all of my windows and turn off the fire alarms so the fire department wouldn't be called.  But, if my dishwasher goes out or if my stove goes out or something, the maintenance man comes out and fixes it and I'm charged anything.

I did like living in a house, though.  I preferred the privacy and being away from people and being able to turn my music up....and having a lawn to mow.  I miss that quite a bit.

[Sarra]

That's why I like apartment living, though I did accidentally blow a fuse and had to fix it myself the first week I was in the apartment....I also filled the apartment with smoke on accident so I had to open all of my windows and turn off the fire alarms so the fire department wouldn't be called.  But, if my dishwasher goes out or if my stove goes out or something, the maintenance man comes out and fixes it and I'm charged anything.

I did like living in a house, though.  I preferred the privacy and being away from people and being able to turn my music up....and having a lawn to mow.  I miss that quite a bit.

This is what I'm looking for. Plus, there's a big chance I won't be able to take my geckos and frog with me to an apartment, and most, like 90%, of the local apartments don't allow cats.

I think I can find a newer place for inexpensive around here due to the massive number of foreclosures. I've lived in a house with fuses for my entire life, and never seen one blow, except for the irrigation fuses, from my dad doing something dumb on occasion... I'm torn between going into city or out of city, or WAAAAY out of the city. I kinda want to get a place close to where I'm going to be working, but not too close... I used to ahve a job 5 minutes from my house, and it was actually kinda bad because my car didn't warm up fully on really cold days (and I couldn't just walk or ride my bike because the road is too dangerous).

The big reason is I want my own garage, so I can work on my car, and probably cars, in it, in the future.

Electrical and plumbing isn't a big deal for me. And mowing the lawn... Eh, I'll just put in a swimming pool and a green house, and not have a lawn anymore. :lol:

[Flan]

while a bit mn centric, these 2 articles have enough to get more ready if buying a REO property is your thing.

http://www.sweethomemn.com/what-to-expect-from-a-mortgage-lender
http://www.sweethomemn.com/how-do-you-pick-a-mortgage-company-11-questions-to-ask-a-lender

[Sarra]

You're awesome Flan. Thanks. ^_^ Giving me some good things to ask when I go into the CU.

[Janet_Girl]

Having lived in apartments, an RV and owned my own Home.  I vote for your own home.  Yes you are responsible for all maintenance, but it is yours.  Your rules, your style.

[V M]

Hi Sarra

After living in various situations also, I would go with the home owner opt. Sure, there will be issues to deal with... There're issues to deal with in every situation

But when you own your own home on your own property, you can walk about wearing whatever you like even if that something is nothing at all...

I wouldn't recommend the nothing but a lamp shade in the front yard thing though 

Flan's post has some darn good info. goin'

[Sarra]

Yeah, no kidding!

And yes. Living in an apartment and being dependent upon someone else to fix things isn't my cup of tea. Besides, I will have my dad here to help me if I get into serious repairs trouble! lol I doubt that will happen...

I'm finally starting to feel like an adult...

[Hikari]

But, also remember, if it is freedom you seek, then pay close attention to the listings so that you don't end up part of some restrictive HOA. IMO HOA's cause nothing but frustration. My last HOA was fine, they only really cared that the grass was cut, and that you paid them their dues, but I have heard stories of HOAs telling people that they need to get their car painted or move it into their garage as it was an eyesore for having a different color door. What is the point in owning a house if the neighbors can tell vote to tell you what to do?

So research well before you purchase (But, you seem to have a good head on your shoulders so you probably already knew all this), and good luck

[Sarra]

HOA's aren't a big deal around here, for the most part. Though, that is a good thing to look out for...

It's more spread out here. I will more likely be getting a house not in a neighborhood or development if I can help it, and more likely on a street or road.

If I move into one particular city, that might be an issue though... More likely, the historical council will complain at me, not an HOA. lol