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Babyin10
LIF Infant
Member since 8/09 137 total posts
Name:
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Home vs. Apartment
Question - I have always wanted to buy a house - when I was growing up I just assumed I would have one. Right now we live in an apartment in Manhattan - and pay ridiculously low rent - Mitchell Lama (not the projects). However, we don't have a lot of extra money due to the fact that my husband changed careers after he was laid off and he is starting at the bottom. I don't make a lot of money either - we have 2 kids. My question is: how important to you is a home? Should I seriously save for the next 5-10 years and try to save enough to make a a decent down payment without doing much else (like traveling)?
Or should I just be happy where I am?
The other part that scares me is - lets say we buy a house in 5 years - will we be in the same boat just making payments w/o having any fun?
Thanks!
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Posted 7/31/12 12:29 PM  |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Home vs. Apartment
Thats a personal question and no one can answer it for you.
personally as long as I have a roof above my head and its safe for my children I don't care if its mine or I have to pay rent.
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| Posted 7/31/12 12:30 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Home vs. Apartment
Posted by Babyin10
...
My question is: how important to you is a home?
...
Thanks!
Extremely important.
A "home" is where you and your family are. It doesn't matter if it's a small Manhattan apartment, or a 10,000 mansion. DC grow up just fine in any loving environment. They'll either never move out of the house, or want to move out when they are 16 regardless of where you live.... 
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| Posted 7/31/12 1:14 PM |
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nycgirl
Angels!
Member since 3/09 7721 total posts
Name:
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Re: Home vs. Apartment
Home is where you live.
Enjoy the Manhattan life... it has a whole lot of positive things about it & if it's affordable for you, I can't see why you'd leave.
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| Posted 7/31/12 1:16 PM |
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MrsW2010
Mommy of two!
Member since 5/10 2202 total posts
Name:
Jill
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Re: Home vs. Apartment
whatever will make you and your family most happy
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| Posted 7/31/12 1:21 PM |
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rkl1130
LIF Adult
Member since 10/07 1476 total posts
Name:
Rose Ann
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Home vs. Apartment
I think it's whatever makes you and your family happy and comfortable. It's all a personal choice and each person is different.
A building doesn't constitute a "home," it's the people within it.
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| Posted 7/31/12 1:46 PM |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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Re: Home vs. Apartment
To me, a home is different from a house. An apartment can be a home.
For us, we've considered moving out of state because I doubt we'll ever be able to afford a house here in NY. But it came down to giving DD a house versus family and memories. We chose to stay here. DD may not have a house, but she has a roof over her head, food in her belly, clothes on her back, and family here to create many lifelong memories.
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| Posted 7/31/12 1:53 PM |
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Bridex100
Two Under Two Mommy
Member since 3/08 10420 total posts
Name:
Momx100
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Re: Home vs. Apartment
This is very personal and different for everyone.
I work in real estate investments and don't feel the need to "own" my home. As long as I have a comfortable convenient place to live, I would be satisfied. I would probably also pick lifestyle over home, meaning I would not want to give travel, entertainment, etc just for a home. Education for kids (school districts) is a different subject and would be my #1 priority.
On the other hand, owning a home was extremely important to DH. I think it bothered him greatly when we rented an apt in Manhattan. Now he takes great pride and care of our home. He loves hanging out at home, having people over, etc. We live in a house that is much grander than I expected to live in. That is due to moving south to the DC area. Housing is newer and cheaper down here.
Message edited 7/31/2012 2:04:15 PM.
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| Posted 7/31/12 2:02 PM |
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KvsGrl
Round 2!!
Member since 1/07 1202 total posts
Name:
Samantha
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Re: Home vs. Apartment
Home is where you lay your head 
As for a HOUSE vs an apartment, that is a personal choice. DH and I own a co-op in Manhattan. I would love to move back to LI one day, but since we both work FT in Manhattan, we are willing to sacrifice space for commute for now.
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| Posted 7/31/12 2:58 PM |
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BBin2012
Full heart!
Member since 8/11 1835 total posts
Name:
Ka
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Re: Home vs. Apartment
Posted by KvsGrl
Home is where you lay your head
As for a HOUSE vs an apartment, that is a personal choice. DH and I own a co-op in Manhattan. I would love to move back to LI one day, but since we both work FT in Manhattan, we are willing to sacrifice space for commute for now.
ITA! But I understand your dilemma and struggled with that too myself. DH and I own a teensy tiny NYC studio and we outgrew it, so we moved out of the city...not to a house, but to a larger apt that we rent. It's not what I expected, but it works for us for now.
Instead of buying an expensive house in the metro NYC area we are investing our savings in rental property...will we ever own a house that's ours to live in? I'm not sure...it seems like a lot of work / maintenance and upkeep!! 
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| Posted 7/31/12 3:30 PM |
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Mags1227
Just a mommy ...
Member since 10/10 2665 total posts
Name:
M
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Re: Home vs. Apartment
I feel like you do. Love the life close to everything (i'm in brooklyn) and can't imagine living someplace quiet.
HOWEVER, I want a house. I want my own space where there are no neighbors yelling at 3am or telling me my 1 year old walks too loud. i want a backyard where my son can play without me worrying about cars. I want the luxury of having a big bbq for all my friends and not having to decide who not to invite.
DH and I are both homebodies. We'd rather throw a party at the house than go out. I love to cook and he's an amazing host.
DH also plays the drums. His drum kit has been collecting dust and taking up space in our bedroom because he can't play it in the apartment. I know he misses it and I know he wants DS to share his passion. We NEED a house to make that happen!
so for us, it's a no brainer- no extravagant vacations or expensive dinners and everything goes into savings. to us, it's worth the sacrifice.
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| Posted 7/31/12 10:08 PM |
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LittleBlueBug
Happy Mommy
Member since 9/06 4074 total posts
Name:
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Re: Home vs. Apartment
Home is a home weather you own or rent. If you feel like you will be house broke if you buy a house vs rent, then whats the point? Quality of life is what matters.
That being said, the only reason why I want a house...and I mean the only reason right now...is because I have issues with neighbors thinking its ok to bring their dogs to my front door to "make" where my DS plays...or used to play. In this economy, they are expecting the housing market to go down further, not sure now would be the time to buy anyway. Everything is so unstable still.
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| Posted 7/31/12 10:30 PM |
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