so how many of u own or rent a house with young family?

hi,

Sounds crazy but how many of you own or rent a house? When did you buy a house or have a morgage? We rent and our wee baby girl is six months old. I've always wanted to own a house, is this crazy? any ideas?

Jess

Hi Jess,

We were pretty lucky in that we bought our first house about 10 years ago and then sold it about 4 years ago for a nice profit and have now built our own home. If we tried to buy something now, we could never have afforded it (especially considering Sydney property prices!).

I love my new house but the mortgage is definately a financial burden and means that I cannot stay home full time and even taking time off for maternity leave can be a hardship (considering I'm the main wage earner in the family).

I think owning your own home is a great thing, and hopefully in the future will enable us to set up our kids financially but renting enables you to be a bit more flexible and will generally mean you have more disposable income.

Hope this helps and remember, this is only my opinion!

Yvette

Hi Jess,
I have 3 kids now and I still rent. My husband and I wanted to buy a house years ago, but as he was a sub-contracter, we needed to much of a deposit and we just couldn't scrape up enough. Now the prices of houses have gone sky high, we believe we will be renting for the rest of our lives (unless we win lotto!!!). This doesn't bother us too much, because if something goes wrong, we don't have to come up with the money to get it fixed. Friends of ours have just had to sell their house, because with the rise in interest rates and insurance, they were barely able to make their repayments. They were so stressed out, their marriage suffered and they were about to separate. They sold their house, and are now renting again, and their marriage is back on track. Their kids are also a lot happier now, because their mum and dad are too.
It would be nice to own your property, but in this day and age with prices the way they are, if you don't own your place now, chances are, you never will. I hope you all are able to buy your own place one day. Good Luck.
Tracey

hi Jess
when my partner and i found out we were having a baby we moved out and into the renting game, after about 1 year we thought we could pull off saving for a deposit if we moved back home. after being home for 6mths we were going mad (even though our living arangments were fine) , and we wanted another baby so out we go again into renting. we just boiled it down to want you want more, a family or a home!
but yes i would love to have my own home, just so i can do a cute babys room without having to ask!!

Hi Jess,

Well before I fell pregnant with my baby girl (who is 3mths old now) we were renting trying desperatly to save a deposit for a house. When the news I was pregnant came about we scraped a bit of money together thanks to a great father in law and started searching I think I was 6mths pregnant when we found our house and moved in five weeks before Lysje was born, its hard though becauase now we have all the added costs of a new baby, new mortgage (repaymenst aren't much more then what we were paying in rent), and car loans on one income until I go back to part time work. But besides the money being tight we are still happy because instead of paying rent (dead money) we are paying off our very own place and have a great room for the baby, and even space for visitors which we have had alot of. But I wish you luck in striving towards your own home.

We brought our house about three years before Ethan was born and then we put our name down on a block of land which came available 15 months later when Ethan was just 6 weeks old so we decided to go for it (stupidly decided) so we have since sold our lovely home and are renting and building a home and yes I want to KILL myself but I know it will all be worth it in the end............... whenever that will be!!!!!!!!!!!!!!!!!!!

I found that we had more money when we brought our home then when we were renting, I guess because we had something to put our money into. It's strange.

Hi, i'm a renter. Luckily I rent my parents second home, though I insist on paying the going rate. My lease agreement is that I take care of things for mum and dad and keep my little brother under control until he finishes his apprenticeship!

Being a single mum my chances of bying my own home here in Cairns is slim. A lot of people from othe cities buy house here as investments and it drives the prices up. However there are some nice areas south of here where you can still get a wicked little house for $60,000. I am desperately trying to save. I'd rather be paying $200 a week on something I own then on something someone else owns. However seeing as I'm paying my parents it doesn't worry me too much - and they're really good on those tight weeks when I'm late with rent!

Hi jess

My partner and I have a one year old daughter and are renting, we too would love to buy a house of our own but the deposit is too much to save and even if we get a gaurantor and deposit we still wouldnt be able to borrow enough money to get a decent house in our area (which isnt that flash)

if you think about you could be paying the same amount on rent as you would on a morgage only you will have your own home at the end of it.

So no your not crazy for wanting your own house at least that way you can do what you like to it.
We will get our own home one day and I'm sure you will too.

Good Luck!!!

Hi everyone!!!

I'm currently renting my house, and although it's in a great location, lovely warm & sunny & is just the right size for myself & bubs, I am thinking ahead and looking to buy my own place eventually.

It will be hard as I'm not planning on going back to work fulltime for a while yet, but I'm hoping I can at least put a little bit away each week towards my own home. I'm not planning on buying until closer to the time babe starts kindy/school, so hopefully I'll save enough for a small or reasonable deposit!!
Besides, I think I would rather pay $180 a week towards my own mortgage than towards someone else's, and I would also love to have somewhere where babe can grow up, establish roots, & make some happy memories smile

Hi Jess,

You don't sound crazy at all. I say, do what ever you can do, to scrape together money for a deposit for a loan and go for it. You don't have to buy anything huge just comfortable, and remember the money you are paying is paying off your house!!!
We only have the one child and we are trying for number 2 at the moment, I have just started to decorate Kristophers New room. It's great, I can do what I want without asking anyone!
I thought I would have to go back to work to help with the mortgage but after some carefull budgeting I am now a stay at home Mum, in OUR home.
All the best.

we are paying off our house shloud be piad off in a few years we paid our 1st place off in 7 years mind you thta was in the late 80' s when things wernt so expensive we also bpught aan investment proprty and sold it afew years later 4 a good profit we also are paying off a investment property now u just hve to be reday to to join the morgage roundabbout but its a good feeing as u can do anything you ilke to the house

when bubs dad and I split up I moved out of our rented house and in with a friend. After 8weeks of going mad I found another place to rent which is perfect for bubs and I - small, fully fenced, very secure and she has her own bedroom. My dad is going to give my brothers and sisters and I $50,000 as a deposit on a house when we need it, but at the moment the best thing for me is renting because I'm not responsible for maintenance bills etc. Luckily i have a great landlady who has been a young single mum herself. I would like to own my own place eventually, but meanwhile I'm trying out my decorating skills in my rented place! When we moved in I had no furniture so I begged borowed and stole the basics but now I'm at a stage where I ca afford to start upgrading to nice things like a dvd player and a tv that gets more than 1 channel!