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Rosie0610
19-11-2008, 04:38 PM
I'm thinking about buying a new house in this bad bad economy!

We do own a house now so we'd have to sell. My house is just so small (1000 sq/ft) and only 1 bathroom. We are in a very nice neighborhood on a dead-end street which is lovely. BUT, I get so claustrophobic in winter! Also, we are looking for a better school system for DS or maybe private school. If we moved to a better school system we'd save the tuition money only to put it towards our mortgage.

I'm just so scared to spend money right now!

foreverducky
19-11-2008, 04:43 PM
I think the bigger question would be, in this bad economy would YOUR house sell??? My aunt has had her house on the market for almost 2 years. It's just good.

MystikPiglit
19-11-2008, 04:57 PM
I don't know if the same applies over in the US, but on tv this morning they said if you are moving up the property ladder it is a good time to buy.
Although your house may be worth less now, if you take into account a percentage drop, a larger house will have decreased by more. So you save money. :smile:

Johnie
19-11-2008, 04:58 PM
It is a GREAT time to buy a house! It is a HORRIBLE time to sell a house.

Rosie0610
19-11-2008, 05:53 PM
It is a GREAT time to buy a house! It is a HORRIBLE time to sell a house.

I know! Wish I still lived at home!

I'm thinking we wouldn't have horrible chances at selling our house because it is smaller so it's a good starter home but it's totally updated with a new roof and AC. We just put in all new windows and built a 2 car garage. Plus we are on a dead-end and we have no neighbors behind us as there's a creek. (Gee I'm already talking myself into staying! :lol: ) Another good thing is we bought the house from my MIL so we got it cheap and it wouldn't take much for us to make some $$ out of it.

I just don't know. I'm still working p/t after DS was born and I'm nervous if we got into a bigger house I'd have to go back full-time.

Sometimes I wish I were a kid again! (only sometimes though!)

Johnie
19-11-2008, 06:14 PM
Ah yes, the joys of being a kid with no concerns for bills and the like. I wish I had enjoyed that more.

Taja
20-11-2008, 03:13 PM
Is there a possibility of renting your current home and buying a new one? Then you could sell when the market begins to increase a bit.

We're one of the hardest hit areas for foreclosures, so it's difficult to sell here. And almost no financing is available, which makes it worse.

I'm in the opposite position of you, Rosie. I want to downsize and can't at the moment. *sigh*

ukwdwnut
20-11-2008, 04:20 PM
my daughter was told not to go into the market yet, and to be honest you will find it hard to get a mortgage now anyway no one is lending money

edit: didnt see you were in the states rosie :oops:

Tink
20-11-2008, 05:19 PM
Yep, selling the house will be the trick. :( We've thought of doing the same, and discarded the idea. We don't feel we could sell our current house right now.

BlondTinkerbell
20-11-2008, 05:33 PM
Ah yes, the joys of being a kid with no concerns for bills and the like. I wish I had enjoyed that more.



Im enjoying it but im not looking forward to graduating into a recession

: /

Rosie0610
20-11-2008, 05:51 PM
Im enjoying it but im not looking forward to graduating into a recession

: /

Don't worry too much Alysia. Hopefully you'll never have to go through this again and just starting your career at this point is way better than all the retirees who can't retire now becuase of this mess.

Shellyamc
20-11-2008, 06:08 PM
That is just where Dh and I are. We got a bigger house and now we are working to sell our old one. It has only been up a few months and has had lots of interest, but no bids. We just lowered the price for one last push and then we are going to look at renting it out. Not too much fun :thumbsdown: