Since our relocation to another city in Washington state, and paying yet another homeowners mortgage, we've really been going back and forth on whether we should have purchased our first home instead of deciding to rent again. It's a really hard decision to make for a military family. We never really know just how long we'll be here. Our location now is supposed to be for three years, but if Mike advances before three years then they could move us again.
But then we think that in two or three years we could have earned some equity and possibly have some rental income coming in when we do move again.
Then you have to think about a down payment. Ugh! The down payment that would most likely wipe out our savings and you don't want to do that. But on the otherhand, that is what we are saving for and as it sits right now we are just wasting our own money renting. It's a hard pill to swallow.
Being married for 5 years and having a beautiful daughter, we feel like the next step is to own a home. It makes us so very excited to think about that possibility, but we're locked into this place until May '12. We have some time to decide what is the best option for us and put some more money away into savings.
But in the meantime, googling homes for sale where we are now is so exciting. And the prices for homes here compared to the prices of homes in Los Angeles makes you kind of feel like it's do-able.
3 bedrooms, 2 1/2 bathrooms
2200 square feet
ain't it gorgeous?
Where we want to buy in California (where both our families live):
3 bedrooms, 1 3/4 bathrooms
1300 square feet
all I see is mo money, mo money, mo money!
I don't know what the future holds for us as homeowners, but I hope that one day we can own our "dream" home wherever that may be.