Saturday, July 23, 2011

To Buy or Not- That is the Question

I have the buying bug. I want to own a place and make it my own. But I have no idea if this is a good idea or not. I really want a condo in the city, but they are so expensive for how much space they have and aren’t selling very well. You would think because they aren’t selling well that people would lower the price for them, but somehow that isn’t happening (though I am sure you could try to bid lower), but they are in GREAT locations. One of my issues with buying a house is that I would have to buy furniture to fill it (which I don’ have)! I also can’t afford a house in the city, so I would have to compromise in an area further away (like the Near West End/Willow Lawn or Bon Air area). I also do not like doing yard work, so that is another concern. But I would get more privacy and space and wouldn’t have to pay condo fees.

I will have enough money by next summer to buy a decent place, but I can’t decide if it is worth it. Should I wait another year until I have more money and know for sure where/what I want? Should I live by myself before I buy a place? These are great questions, and I don’t have to decide until March when we have to let our rental company know we’re not returning, but I hate the idea of spending another year throwing away money when I could be investing, ESPECIALLY when it is a buyers market. I am enjoying where I live now, but I still have the itch to make a place my own.

Luckily I do have about 6 months to decide. I also want to make sure that I am committed to staying in Richmond, so I will see how this year goes. Through the end of summer I am also house/apartment sitting for people, so that will allow me to see what it’s like being by myself in the evenings. If anyone has input or advice, please let me know!
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