Good News/Bad News
17 March 2008 by gildedbutterfly
Ever notice how good news and bad news just seem to go together? When I’m having a rough time of it, I enjoy that symmetry: I can revel in how (though I may be dealing with bad news at the moment) somehow something good will come of any situation. Of course, the opposite is true, too: when something good happens, sometimes I’m stuck waiting for the other shoe to drop, so to speak.
Good news: My landlord is giving me a two year lease. Hooray! That’s what I really wanted, the secure knowledge that I have a place to live for two more years. That’s twenty-four months of good nights’ sleep, knowing what my rent will be and that they can’t kick me out (without cause) or raise my rent until 2010.
Bad News:Â For the two year lease, they want more per month than they wanted for the one year lease. It’s not much more, $100, but on top of the $300 they already wanted to raise me, it’s a lot. All told, now the increase will be 19%. Argh!
Good News: I found a beautiful 2-br coop for sale in the neighborhood just north of mine for an incredibly low price. Haven’t seen the actual apartment yet, but the pictures on the site look beautiful. If I were to take the leap and purchase it, my monthly outgo would be about the same as if I resigned the 2-year lease.
Bad News: I’m not sure if I’m ready for homeownership yet. To get the downpayment together, I’d have to get some $$ out of my Roth IRA, which I don’t want to do. Though, it’s such a good deal (if it turns out to be all that it looks like online) that I’m not sure I could pass it up.
Good News: If I do end up buying the coop, and my roommate moves with me (she has said she wants to), then I’m pretty sure I can pay off the 30-year mortgage in 6-8 years.
Bad News: If I do end up buying the coop, I will need a lot of money upfront. Mom has agreed to chip in for closing costs, and possibly I could borrow from Dad, too, but I hate relying on them, and there’s still the looming question of paying for movers…
So, who knows? I’ll let you know what I think when I actually see the coop, and keep you updated on negotiations with my current landlord.
Good luck with all of the above mentioned items…the co-op sounds awesome…
Omg! You’re thinking of buying a place?? And your roommate would pay you rent?! That sounds ideal! Best of luck with your decision!
I go through many of the same back and forths.
One thing I recently read said you should only buy if you’re planning to stay for a minimum of five years, which, personally, makes me feel claustrophobic just thinking about it. Not that I won’t stay at my job or in this area for five years because I might. But I hate feeling like I have to.
Sigh.
[...] April 2008 by gildedbutterfly After contemplating possiblities about my living situation, the time has now come to make a decision. So here it is: I am going to [...]