After you get married either you live at your inlaws or you move out. Since my husband and I are living in my country we can’t live at our house too long. We need to move out…what are some tips for moving out and finding an apartment? The places to rent near where we live are very expensive…so what should we do?
Re: Newly Weds and moving out.
If you're going to pay rent, you might as well pay a mortgage. Invest ASAP. Market looks good to buy.
At least that's what CNN says. I know squat didly about finance.
Re: Newly Weds and moving out.
so ur saying to basically get a house...but what if we don't need a big house, cuz obviously we won't be able to afford it....but later on what if we want a house? Then????
Re: Newly Weds and moving out.
I would advise against getting a mortgage right away, you dont know were you will be living and all where you or your husband will get the best offer from, current market may work against you if you buy a place and then need to be in a diff city or state, because houses are taking longer to sell.
If you do want to buy, u dont have to buy a house, get a small condo, maybe a 1 or 2 bedroom.
for rentals, see what the rates are if you move a little farter from where you are. do not rent more place than you need right now. a single bedroom, or a single bedroom plus den will be more than enough, people fall into the trap of a large place for entertaining, but as a young couple you probably will not be hosting large parties at your place.
also dont waste money on getting 2-3 bedroom units, u may think oh when we have guests they will have room, but since your parents are there, the only guests who may stay with you are your inlaws etc. in which case a den/office can be converted to a bedroom for a few weeks/months.
things that are pluses, and usually mean higher rents are in unit washer/dryer but in general are worth it.
depending on the area specifically but a good thing to have in general is a secure building. i.e. with secure entry.
whatever area and building you are looking at, check it out during day time and evening, sometimes a place that looks okay in daytime can turn into a whole diff scene in the evening.
look at police records for the area, crime stats etc.
just some pointers.
Re: Newly Weds and moving out.
what websites can tell you which areas are really good??? And isn't it that the areas that have less crime might have higher rent??? I know in our area the rent starts from $1000 and up for one bedroom apartments...
Re: Newly Weds and moving out.
i think mortgage on condo or appartment is not the good idea at all because resale of the condos is usually very hard and the profit margin is usually very low. thats what i see at my place atleast
you should get the cheapest place (appartment or basemement) on rent to begin with and save as much as you can to pay the down payment for the house. yes, always go for the house. you dont need the house right now, but you Will in future because you two will no longer always stay Two. always think about the long terms.
Re: Newly Weds and moving out.
well i think apartments are a good idea because of what Mr. F bhai said....that what if we get better jobs and have to move...then we will have more problems selling the place....but is there any website that tells which area or city is a good and safe place to live in?
Re: Newly Weds and moving out.
pyari, I will have to jog my memory back to 97-98 when as newly weds my wife and I were trying to find places in a diff state, we were able to pull up crime stats for the area. so there are online sources.
$1K for one bedroom is not too bad really, I was paying about that 10 years ago in philadelphia.
Re: Newly Weds and moving out.
Pyaari, my advice is to pick the best area possible. Most likely close to your family or community. Do not make cheap rent the priority.
Plan out a hunt for apartments with your husband. Go for 3-6 locations and than make the decision.
Re: Newly Weds and moving out.
oh and dont be too close to teh family either, have enough of a distance that u have your privacy and dont have to deal wit stuff like, oh just come over for dinner, or they just decide to drop by because they feel like it.
close nuff that when needed you could go over or they could come over, but like not 2 blocks down..
Re: Newly Weds and moving out.
Just make sure they are not your neighbors. That's the thing about America, you do not have to worry about neighbors. You do not have to invite them for dinner on Big Holidays or do a just moved-in introduction.
Re: Newly Weds and moving out.
i already know the rule: Close enough so no one is forced to spend the night and far enough so they aren’t over every day…Heard it from Everybody loves raymond…and never forgot about it…
what are some things that couples have to know before they move out…mathlab kay what they are getting into??? Besides all types of bills…etc…so that way we can prepare a little bit also…
Re: Newly Weds and moving out.
Depends a lot on where exactly you live.
If you're beginning, save as much as you can on rent.. Find the closest possible place to work/school.
Your basic expenses would be rent and electricity. Some apartments give you free water and gas, great if the cooking and heating is gas so you save quite a bit. Some even have cable built into the price.
Re: Newly Weds and moving out.
where are you, exactly? if you give me a state/province, i could google some links for you. unless you're in toronto- then i already know the good neighborhoods and the ones you should avoid.
Re: Newly Weds and moving out.
i am gona be moving out with my hubby as well so i do really appreciate all ur advice.. i will be in missisauga/toronto... what places do u think i should look at and what do i totally avoid.. as for payarii.. yea it totally depends as of where she is at the moment.. i dont think living too close to ur family is such a good idea.... what we are doing is that i have asked my fiance to get a good furnished basement for the time being.. ( as they have no lease.. and most are centraly airconditioned) and when i go there. we can start lookin for places.. and then get it when we are totally in love.. i do agree that giving the rent for a long time is a waste.. even if u buy an apartment.. when u sell it.. u get that mortgage money back.. pyaari u were asking abt what ud be getting into.. i am not there yet my self yet... but according to what i think.. except for the financial responsibilities.. there is also the taking care of the house.. at this moment we stay at home and move a hand here and there and think we know all.. i have taken care of a house all alone. and cooking, cleaning, laundry, grocery and all those things need time and attention too.. but i think if u and ur husband help each other.. u both should be ok.. Best of luck and God bless
Re: Newly Weds and moving out.
ii do agree that giving the rent for a long time is a waste.. even if u buy an apartment.. when u sell it.. u get that mortgage money back..
let me just make sure you understand. when you buy a place, and you pay mortgage, majority of your payment is interest, smaller portion is prinicpal.
Now when you sell your place, and the market has gone down, you lose out. if you sell and market has gone up, then you get the benefit of the rising market.
Lets for a minute assume that the market has not moved at all, then depending on how long you have lived there, how much you ahve paid, and how much you have to pay the realtor for teh commission, you may not get anything back or end up owing stuff. same applies even if market has moved up.
You may know this already, but the sentence was a little misleading and I wanted to make sure people reading it did not get the wrong idea.
Re: Newly Weds and moving out.
Pyaari - make a list of your current expenses and add the Apt rent, groceries and billing expenses to it to see how much you can afford per month. Once you have that figure down, start looking for apartments in your budget range. make sure you have enough money for down payment etc so do have quite a bit of savings before you move out. Also keep in mind you'll need to buy furniture, cookware, etc. if you don't already have your own.
As Fraudia said you might not need a big place right now so try to budget things out where you have savings to put toward a down payment on a house in the future.
Re: Newly Weds and moving out.
thanks for all ur input....i do realize there is a lot...inshallah Allah is there to help us...and we are trying to help ourselves out too....I am not moving out right away....i am looking to move out in 6 months or so. I just think its a good idea to start looking now....because when i do want to move out...even if it is before 6 months....i won't be stressed about it.
Mr F bhai: How does the mortgage thing work if you pay for most of your house? Or you pay for half???
Re: Newly Weds and moving out.
hello i am currently buying a condo. so maybe i can help as i am a first time homebuyer/newlywed as well.
we decided against rent becaue its 1000+ and thats how much mortgage will be icluding condo fees! so why not invest instaed of renting and throwing it down the drain? but keep in mind....id have at least ($30,000) saved away or willing to borrow off family to do this..if not rent for a year and save up!! because closing cost, mortgage, condo fees, and attny fees, taxes u will need this. our heat/water is included...so after that $1000 per month our expenses are groceries, phone, cable, internet, car insurance. (plus who knows what else comes along!)
id move close to at least one of your jobs.....GAS PRICES ARE HIGH!!! so the time and money u will waste in gas in a year..u might as well put that toward ur price of the place and live closer to what ur priorities are.
also yeahhh family...haha u got it right....we are an hour and a half away...so its perfect when in need but not close enough for weekly visits! let me know if u have more questions!
Re: Newly Weds and moving out.
Mr F bhai: How does the mortgage thing work if you pay for most of your house? Or you pay for half???
I am not sure what your question is, please rephrase and i will try to answer it :)