Welcome one and all, I actually want your opinions today. Come quick! lol
Ok. Situation.
We're renting. We want to buy but right now all we'd be able to afford is living in little old 2br cottages in areas that have some fairly dodgey nicknames.
We have a conundrum, and quandry. We've searched high and low for so long for a landlord who will allow me to do FDC, and now it seems like we've come across two at the same time.
And I'm torn.
Ok, so I know and you know I'm not going to base my decision on what you say, but some other ideas and thoughts will help
One hosue is absolutely perfect, two story, basically it's two houses connected (one downstairs with 2br and one upstairs with 3br), both with kitchens and bathrooms. Perfect for FDC, as I could separate home and work. Fences are high. Ok area. Downside is theres no paved or covered outside area, which is a bugger for our dog who is strictly an outside dog. And for Jazz who loves to play outside on our concrete rain, hail or shine. And it is for sale, has been on the market for 5 months, so we'll only have a 6 month lease at a time. So we may have to go through this whole searching and possibley not finding somewhere to allow us to do FDC again in 6 months, lose business if we have to look in a different area, which would really wreck it.
Second house. Smaller, 4br, 2.5 living areas, so FDC is doable. Ensuite. Outdoor area is GORGEOUS, paved, fenced and gated. Nice area. The perimeter fences are quite short. Owners are caravaning, and lease will be 12 months with a maybe additional 6-12 months after if they extend their trip. We still have to think about moving in 12-24 months though.
Positives for the first one, might push us to buy sooner. Which is a negative because we can't afford anything suitable. Positives for the second, we might be ready to buy in 12-24 months. Negatives to both is that to buy or rent another house I don't think I'd have enough income or at least a long enough time of evidence to support a rental or mortgage application. So might make it harder. Although the real estate agent mentioned that she thought the owner might take house 1 off the market if they got the right tenant, or being tenanted it might bring in investors who will renew a longer lease.
Oooh that is a tough one. Although the first house does sound perfect, I like the idea of a more stable lease on the 2nd. I'd hate for you to move in and have to move again soon.
Toughie leash! The first one does sound ideal for keeping home and work separate, but the second does at least have a separate living area. My mum did fdc, and I was a teenager. Our first house was tiny and I hated that I couldn't escape the kids and toys, I only had my room as a haven. Our second house, there was a separate living area for daycare, and we all got along so much better!
Obviously that won't be an issue for jazz now, but at least both shel and jazz would be able to have some quiet time in either house if they need it. I also like the idea of a good outdoor area - not just for your dog, but the kids as well.
As for leases, sounds like they could both be good, depending on if the owners of the first house extend it!
Geeze I dunno, don't think I helped much lol. Good luck!
We had a chat and Shel is going to ring and enquire about the possibility of a Lease Option for house 1, I think they are called. Where they increase the rent and set it aside, and at the end of the lease you are offered the option to buy the house, and use the money that has been put aside as a deposit or to reduce the final price. If you choose not to buy it the owner gets to keep the money. I would buy this house. It’s totally unattainable right now, but who knows in 24 months time if it will be an option. I’d be willing to pay the extra for the stability, even if we don’t want to buy it at the end KWIM.
Leash historically speaking prices tend to fall quite dramatically and sales can become difficult in the aftermath of a flood like the one that has just happened in Brisbane (eg this is what happened after 74 floods). So you may find that the house where you currently live languishes on the market, and properties in general become more affordable.
Just another thought to put into the pot and stir.
To lease the first house,I would want a much longer lease than 6 months. My FDC lady said it cost her anout $3 -$3500 to set her place up. There had to be shatter proof film put on all the windows in the kids areas (bottom 1/2) pool fencing around the play area, and kid proof locks everywhere. she also put in a sandpit. She got a grant of something like $1800 but I think that is just a one off thing.
It would be such a shame to go to all of that effort and have it sold form under you.
Also, I dont know if you would tell the parents, but, I would have to seriously consider weather I would put my DS in daycare that may only last for 6 months and then have to be relocated to either an inconvenient area or shut down for a month while moving.
GL though, have you considered maybe paying a bit more by moving to an area that has high wait lists for FDC and that way you would be able to fill up on your quota of after school care too?
I've just skimmed the replies, but here's my 2c -
I wouldn't bother with the first house. Doesn't really matter if the inside is perfect for FDC, if you are only looking at 6 months you have to go through all the hassle & expense of moving again... you would be doing FDC for longer than 6 months so really you are just going to end up inthe same boat then KWIM? And no covered outside area is a killer for us. Also with FDC you would probably find that having an outside area is a huge bonus, our FDC lady has a large undercover area th kids play in a lot - in hot weather a few containers of water keeps them happy for hours.
So, whether to rent the second house or buy... for me it would come down to finances I guess, if you could buy something cheap but still have enough income topay the mortgage & fix it up a bit, I'd be really tempted to go that way. If having a mortgage was going to eat every cent though, for a rundown el-cheapo, I'd rent the second house and wait a bit to buy.
ETA - if you can get a lease option on the first house that might be a good way to go too.
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