I rented for a while

Posted By: sm on 2009-01-22
In Reply to: Single moms - is it better to rent or buy? sm - AnonMT

I rented for a couple of years, then ended up getting remarried and we kept renting for another year or so while saving up a down payment. I rented partly because I didn't think I'd qualify for a mortgage on my own and partly because I knew I wanted to start dating soon and depending on how that progressed it could affect where I lived and I didn't want to be tied to a mortgage. I rented a townhouse in a quiet neighborhood with a small yard and it was very homey to us without the headaches that sometimes come with living in a big complex.

On the other hand, mortgage rates are really low right now and house prices are down, so generally speaking it is a great time to buy, but you have to do what is best for you personally when the time is right. Maybe that's now, maybe it's not.

One more thought - if you are counting on child support money to help pay a mortgage then consider waiting a while to buy and make sure that it is consistently coming in.

Complete Discussion Below:

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Single moms - is it better to rent or buy? sm - AnonMT
- Thank you all for your replies, that reall helped (sm) - AnonMT
- While it is a great time to buy... - someinfo
- I am not a single mom but... - Emily Ayn
- Divorced, never considered myself single (?) and bought my own home - Divorcee
- Single Mom Survivor here ... have - been an owner and renter .. sm
- I was brought up with the saying that - sm
- I rented for a while - sm
- renting vs buying - me
- hard choice - ex-single mom
- I chose to buy. I was in a position to be able - singleMT

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OMG! - we rented this last weekend and rolled
off the couch laughing - even my husband was snort laughing!! too funny!