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Okay, so for those of you who don't know, Dartmouth College has pretty much given Sara and I the old bartender saying "You don't have to go home, but you can't stay here". The building in which we currently reside is scheduled for demolition in June. We have several options open to us.
1. Dartmouth has other rental properties. The new units are essentially condo units. 2 Bedrooms, 1 bath. $1100 a month, with heat, water, sewer, trash, and Internet (campus wireless) included. The thought was, even with the included amenities, the price was a bit steep. Dartmouth has older units, but their availability is more limted, and they've got less space.
2. Rental with a 3rd Party. For a 2 bedroom unit (We want one for office space), we're looking at anything from 750 and up, with various amenities included depending on the unit.
3. We've talked about buying a house/condo. I'd prefer a house myself, but that may be impractical. We'd have to pay taxes, insurance, and for all our amenities, (unless we had well water and septic rather than public water and sewar.) But we'd be building up equity. And we'd have a yard I could mow. (Is that an irrational desire?)
So...I'm looking for advice. My 'rents have already suggested that purchase might not be our best option, but I'm not so sure. It just seems like it would actually be cheaper per month to pay a mortgage rather than a landlord. What would you pay monthly if you owned that you wouldn't pay renting? It seems to me it would be a wash.
I don't know. I'm really frustrated with the housing situation, especially because we're probably going to have to give a solid yea or nea to Dartmouth concerning next year before I've even had a chance to check into vacancies for next fall. If we get housing now, it limits my flexability in location to a certain degree.
SO CONFUSED.
1. Dartmouth has other rental properties. The new units are essentially condo units. 2 Bedrooms, 1 bath. $1100 a month, with heat, water, sewer, trash, and Internet (campus wireless) included. The thought was, even with the included amenities, the price was a bit steep. Dartmouth has older units, but their availability is more limted, and they've got less space.
2. Rental with a 3rd Party. For a 2 bedroom unit (We want one for office space), we're looking at anything from 750 and up, with various amenities included depending on the unit.
3. We've talked about buying a house/condo. I'd prefer a house myself, but that may be impractical. We'd have to pay taxes, insurance, and for all our amenities, (unless we had well water and septic rather than public water and sewar.) But we'd be building up equity. And we'd have a yard I could mow. (Is that an irrational desire?)
So...I'm looking for advice. My 'rents have already suggested that purchase might not be our best option, but I'm not so sure. It just seems like it would actually be cheaper per month to pay a mortgage rather than a landlord. What would you pay monthly if you owned that you wouldn't pay renting? It seems to me it would be a wash.
I don't know. I'm really frustrated with the housing situation, especially because we're probably going to have to give a solid yea or nea to Dartmouth concerning next year before I've even had a chance to check into vacancies for next fall. If we get housing now, it limits my flexability in location to a certain degree.
SO CONFUSED.
