I Need Some Concrete Evidence

[PapillionWyngs]

My husband and I have been married a little over two years. Second marriage for us both. I had a house, paid for. We sold it, bought a house in the same neighborhood (for the sake of the kids who have friends here) and it was going to be break-even. We took out a mortgage on THIS house until the other one sold. Bam, two days after our wedding, I was laid off. Now the money that was to pay off this house has been being used to live on. Yes, I am working, but not making even 1/3 of what I was before. So - we are now running out of savings. We will more than likely have to move. I want to find a smaller house with EVERYTHING redone from roof down. My premise is that there is no maintenance for at least 5 years if we do that - OR we could move WAY WAY OUT to League City, buy a brand new smaller house, and know that for 6 years, no maintenance.

You see, we have a bi-polar son. A townhouse or apartment JUST WON'T DO when he rages, screams, throws things (yes, he is on medication and under a doctor's care). The neighbors will call CPS or the police, and he IS lound. Thank God our only neighbor has a bi-polar daughter, and recognized what she was hearing and asked us about it. They even have (had) the same psychiatrist.

I am losing sleep over this - again. We have had this discussion almost weekly since I was laid off.

Anyone been through anything like this?

Anyone have statistics - anything - that could help me.

See, in 5 years, our oldest will be in college, and we will have only our bi-polar son at home. We can downsize when our oldes leaves, if need be.

Our main problem, spending more than we make. Before you ask, it is on medical bills only - can't cut those out.

Thanks.

Edited December 6, 2006 by PapillionWyngs

[torvald]

is there any sort of government assistance available

since your son has this medical issue? and you in turn,

have large medical costs?

[PapillionWyngs]

is there any sort of government assistance available

since your son has this medical issue? and you in turn,

have large medical costs?

I have wondered about that. Just don't know where to look for it. Guess I will try to see what I can find out. Thanks.

[jm1fd]

Okay...so I THINK you're looking for concrete evidence that renting makes no sense, but after reading your post, I'm not sure...so I'm going to respond to the renting issue:

Ultimately, it depends on current market conditions, and how long you plan to stay where you are. For example, currently out on the west coast, where housing prices are quite high, it makes perfect sense to rent rather than own, because it will cost you, in some cases, 2-3 times more per month to own the house as it will to rent. In our market, there's a much better equilibrium, so the answer isn't nearly as clear....you'll have to factor in things such as how long you plan to stay where you are. If you want to stay where you're at for quite a while, then you should probably buy if most of the rental properties are priced nearly the same as buying.

Have you considered looking for a different job with better benefits? In your situation, it sounds like that would effectively give you a large raise. Government jobs don't pay well, but often have great benefits.

[PapillionWyngs]

Okay...so I THINK you're looking for concrete evidence that renting makes no sense, but after reading your post, I'm not sure...so I'm going to respond to the renting issue:

Ultimately, it depends on current market conditions, and how long you plan to stay where you are. For example, currently out on the west coast, where housing prices are quite high, it makes perfect sense to rent rather than own, because it will cost you, in some cases, 2-3 times more per month to own the house as it will to rent. In our market, there's a much better equilibrium, so the answer isn't nearly as clear....you'll have to factor in things such as how long you plan to stay where you are. If you want to stay where you're at for quite a while, then you should probably buy if most of the rental properties are priced nearly the same as buying.

Have you considered looking for a different job with better benefits? In your situation, it sounds like that would effectively give you a large raise. Government jobs don't pay well, but often have great benefits.

Thanks for your answer. We are in Clear Lake, and would like to stay here.

As far as the job thing goes, I have to have VERY flexible hours to deal with doctors appointments, etc. The job I have now doesn't pay a TON, and we use my husband's benefits, but it has one pretty neat perk (50% off meals at our restaurants) that helps when we want to go out. I love the flexibility and the family friendly environment of my current job. I don't know that I would be able to work anywhere else.

[sevfiv]

I don't know that I would be able to work anywhere else.

i understand the flexibility issue - perhaps there is a way to move up internally? with keeping some flexibility?

and i am not sure, but maybe there is a assistance program that could help - like TANF - but you might not meet criteria since both you and your husband are employed

[musicman]

what type of work did/do you do?

[PapillionWyngs]

what type of work did/do you do?

I was a certified Paralegal for one of the biggest firms downtown.

I now am in marketing for a chain of mexican restaurants.

Edited December 6, 2006 by PapillionWyngs