About a month ago I publicly ruminated on the yearly question of whether to rent again for another year or settle down and buy a house to call my own.
I spent a good amount of time weighing the pros and cons of all my options, including putting all my cash into a down payment for what I can afford in this area, finding a new apartment to rent, or staying where I am for another year.
What eventually convinced me to make the decision were what I decided are the most important aspects to me at this time: flexibility and the desire for a better environment. So I’m moving out when my lease is up at the end of next month and moving into a nicer apartment a few towns away, slightly closer to my day job.
The rent will be more expensive than what I’ve been paying, but less expensive than a mortgage (principle, interest, taxes, and insurance) and association fees on a similar condo, even after making the largest down payment possible with my current amount of cash reserves.
I’ll have some flexibility for another year and more time to work out some of the more important life decisions and find something that will be the right solution for more permanent living, if that’s what I want at that point. Plus, I have a feeling I’m going to be much more satisfied with this new apartment than I’ll be either staying here.
My plan now is to pack over the next few weeks and move during the last week of June.