Comments on: Renting a House Smart Move For Newlyweds

By: Rent vs Mortgage: Calculating Tangible and Intangible Costs | Frugal Dad

Rent vs Mortgage: Calculating Tangible and Intangible Costs | Frugal Dad — Tue, 18 Aug 2009 10:00:43 +0000

[...] sizable tax credits and low interest rates. I personally know a number of people currently renting a house that are finally considering buying a new [...]

By: Do You Suffer From Financial Inferiority Complex? | Frugal Dad

Do You Suffer From Financial Inferiority Complex? | Frugal Dad — Fri, 10 Jul 2009 10:01:06 +0000

[...] outlets, car lots, Realtors, and yes, even our government. If you’ve ever felt compelled to buy a home instead of rent, lease a new car to keep up with your neighbors, or felt a twinge of jealousy because your best [...]

By: Seth

Seth — Wed, 11 Mar 2009 12:51:26 +0000

What good does it do to get $8,000 off the year AFTER you close on the house if you can’t make your payments because you’re BROKE? If you have debt and are just starting out (like my wife and I). $8000 just doesn’t cut it. We both make 40,000. If we live off of 30K and put the rest in savings, in two years, we’ll be able to buy a 100K starter home CASH! No payments, the lowest interest rate you can think of

By: Vanessa Moses

Vanessa Moses — Tue, 10 Mar 2009 22:57:40 +0000

I completely DISAGREE I am a Realtor in downtown Chicago and 90% of my buyers are couples getting married and taking advantage of today’s market. Keep in mind now with the huge FIRST TIME HOME BUYER TAX SAVINGS of $8000 in FREE MONEY you can take advantage of the window of opportunity to get into a home! If you wait, you’ll miss the boat! Check out my real estate blog at http://www.vanessamoses.com, you’ll for sure regret not taking advantage of what you can afford TOGETHER!

Also, financing can be done almost 100% of the time with an FHA government insured loan – these loans only require you to put 3.5% – 5% down. You can get all closing costs paid for and negotiate to your heart’s content.

So you add it up, get up and do it or wait until the “I told you so market” when you should have bought. Consider ALL OPTIONS!

Oh did I forget the LOW INTEREST RATES…

By: Is Home Ownership Still the American Dream? | Frugal Dad

Is Home Ownership Still the American Dream? | Frugal Dad — Tue, 04 Nov 2008 11:00:21 +0000

[...] the real estate industry), renting is not the equivalent of “throwing money away.” Renting a house is a viable option for providing safe shelter for you and your family. There should be no shame [...]

By: Community Discussion: New Home or Remodel? | Frugal Dad

Community Discussion: New Home or Remodel? | Frugal Dad — Fri, 30 May 2008 11:01:59 +0000

[...] the benefit of other readers, this is a good example of why I stress that there is no shame in renting. I’m not sure it was even an option in Tracy’s case, but assuming her and her husband [...]

By: Prime Time Money: Simple Roundup | Prime Time Money

Prime Time Money: Simple Roundup | Prime Time Money — Sun, 04 May 2008 16:25:16 +0000

[...] Frugal Dad shares his thoughts on renting vs buying for newlyweds. [...]

By: Carrie at Natural Moms Talk Radio

Carrie at Natural Moms Talk Radio — Sun, 04 May 2008 02:28:31 +0000

I have to laugh at the throwing money away. What about food we eat… we poop that out, is that also throwing money away? LOL

I totally agree with you, and a huge number of very smart folks do too. Around here it’s easy to rent a really nice place for two or three hundred dollars less than an equivalant sized home mortgage, and when the roof caves in, someone ELSE gets to pay for the repairs.

MillionaireMommyNextDoor.com is an example of someone who has done the number crunching and blogged it on this very topic.

By: Jana

Jana — Sat, 03 May 2008 03:59:53 +0000

I completly agree. We were married for more than 10 years before we bought a home. We have friends who have been married a few years now and they are buying a new house for way more than what we paid and they make way less than we do. I don’t understand why someone would put themselves in that position. At 21 you just can’t have everything your parents have after working for it over the years. There is something missing when it comes to money that kids are just not learing. Maybe it is just nothing comes easy and you have to work for it. “shrugs”

By: Jon Smock

Jon Smock — Fri, 02 May 2008 17:00:52 +0000

I totally agree with you. My wife and I (married for about 8 months now) have been talking about buying a house. But, I did the math, and our rent is WAY below what a mortgage would rack up in interest per month. We don’t need extra space or “piece of mind”, so it really doesn’t make sense to take it on, especially considering the addition risk of that amount of debt.

Good post.