what to do

Lifestyle Relationships
1

hi guys

i am stuck in such a situation that i cant make up my mind about it.
what would you guys do if in such a situation? here are my two Scenario and i have to take one:

1: purchase a unit with our savings and loan an move into it and let hubby continue with his job
even though he would be working very hard but not enough money

2: rent a unit and keep the savings to start a business and once business established than purchase a good house. have to wait for a year or so to purchase the business as hubby’s boss is looking for a good deal for him.

cant make up my mind about what to do.

any ideas???

2

Re: what to do

you should do istikhara.

3

scenario 3

you get a job too and that woukld help with the 'not enough money' situation.
even of someone identifies a good business and gets into it, it will not start giving massive returns day one, so if you are looking to purchase the business in a year,

now of the 2 scenarios, I would say go with #2, or...look for a smaller house where the mortgage will be close to the rent, so u are building equity at the same time, and then a few years down the road when business is doing well, and u get into a bigger place, that equity will help you as well.

4

Re: what to do

^ agree with X2.

If you want to avoid the ‘less money’ issue.. maybe get a job. It will really help your hubby and prob take some pressure off him as well.

If you do end up buying something.. try to minimise your loan amount as much as possible. This way you wont have to sacrifice your current lifestyle as much and you will be able to finish the loan off a lot sooner..

A lot of people make the mistake of getting the maximum amount of loan that they can get.. and that causes HUGE grief later.. best to go with something thats low and manageable.. it’ll be easier to enjoy life at the same time :k:

5

i do have a job but i am pregnant and have to stop working as my hubby wants me to give all the attention to baby.

we dont want to buy a big house…we calculated rent and mortgage payments and there is only difference of $50 per week, this is the reason i want to buy

but if we purchase the house, we wont have savings for the business!

6

Re: what to do

house comes with way more expenses and liablities than a rental place. House market is at its lowest so forget about the equity for few years ..

I would suggest that stay put for a year at least before going with any option

7

Re: what to do

like shay said I would also ask u to do istekhaara..

secondly.. doing one thing at a time might lessen the burden.. I know it might be difficult trying to decide what is more important but right now I think if you bought a small apartment..or a condo and paid its mortgage rather than buying a house it might save you a little til you get the business going. After that you can rent out the condo, and move into a house. It'll probably save you a little mortgage wise and you will have an asset by the time you decide to move into a larger space.

I hope you get through everything. Will make duaa for you..

PS: Congrats! :)

8

totally understand... i was on maternity leave for a year to take care of bubz.

Will u be going back at all after bubz or full-time mum? (which is an incredibily difficult job too.. so good luck!)

The thing with starting a business is, you wont really have a steady income for awhile (maybe a few years), so in that case, you'd prob be better off renting for some time... however, if hubby does have a stable good job, why not just stick with that and purchase a place?

we're building (starting Inshallah very very soon).. and our plan is to get a loan that doesnt make us bend over backwards to survive... and try to hopefully finish it off in a few years.. but that requires me to work.. which i dont mind :)

9

thanks for advice sadzzz
hubby does have permanent job but not into his real field.............currently he is a manager but is studying to be an accountant.
he really wants to start business as he has managerial experience and is not too keen to be working as an accountant.

its so hard to decide and he is asking me to decide.

and congratulations for your home....................we built few years ago (dad's house) and we all were fully involved in it and it was so much fun to decide everything in the house tiles, bricks kitchen and even colour of cement.

10

Re: what to do

^ with tough decisions like this... I usually draw up a matrix table identifying all the options I have and what are the pros and cons... (sad really... but thats how me and hubby work and has helped us make a few good decisions)

If ur hubby really wants to start his own business, then prob best to just rent...however, i would recommend weighing up all your options... maybe even see a financial planner?

11

Re: what to do

If u r having a baby i would seriously PUT OFF starting own business until after u are well settled with baby. If property prices r going down in your area, rent for a while then buy. However, if theres not much difference btwn renting and mortgage payments, buy now and start business later. Businesses care surprisingly hard to run yourself, and u may find that there is little or NO return for ages, in your situation with a baby on the way, really i would advise your husband to stick to the job for now in order to have a steady income.

Still u should pray istkhaara.

Ghamgussar
12

I would go with the above so I can make a good decision. You're having a baby soon and things will be crazy enough as it is...

Plus, if I had to decide between buying a house and a business...it would be a business.

13

Re: what to do

I remember from a previous thread you and your husband are living with your parents. I'd suggest since you are pregnant with your first child, you both should stay put where you are. You're going to need a lot of $ for the new baby as well as a lot of emotional support and help. Your mother will be able to help you and your husband will not have the added stress of a new place, more bills and the expenses of a new baby. Babies are very expensive creatures who you can't say 'no' to..!
Stay with your parents for a little while longer, just until you have more $ saved up and you are able to go back to work while your mom or family can watch the child.

I can imagine you want to be independent already, but a little discomfort today will save you a lot of tension in the future.
Good luck..!

segregation
14

I did istkhaara. Hubby wants to move out as he thinks its bad idea to stay with my parents as my brother have kids too and he think it would affect our baby negatively, as there could be problems with kids which leads to adults having problems with eachother in the family.

he is right, my parents are not very happy for us to move but they have decided to compromise on it. we would be staying with them till a month after the birth.

15

Re: what to do

I dont think you should leave just yet. My sis had a baby and having my mom and dad there was a lifesaver for her. She was in the same boat as you and this is what she did:

Her and her husband stayed with my parents and worked.

They had their baby unexpectedly but it was a great thing mA.

They had the baby and were able to save up money while living with my parents and of course they took care of Baby. They had a ball doing that...what grandparent doesnt want to have their children close by?

Now, they are making their permanent home elsewhere.

It works out.