Moving to Utah 4 years ago, we were desperate to jump on a house ASAP with a reasonable price tag and in a good neighborhood. This was just before the peak of the market with high interest rates. We pretty much regretted it immediately. It is a cute house, but one of those annoying stacked split levels. Our two little bedrooms are on the top floor where we share a teeny-tiny bathroom. The 3rd bedroom and bathroom (in the laundry room) is in the basement - 3 levels down. This plan makes ZERO sense for a family. Last but not least, it is way out in the burbs - at least 30 minutes from work, friends, and family. This is not good for me - one who despises driving!
We have had it on the market, on and off again, for almost two years with no luck. Just as our crazy life goes, we were just about ready to take it off the market again because we're getting close to referral, and then we finally get an offer!
The good news is that if the sale goes through (contingent on inspection..... keep fingers and toes crossed!), we will finally be out and able to get into a house that we want to raise our family in. The bad news is that because we are almost breaking even (thankfully not a short sale - whew!), we won't have much money for a down, so we will need to rent for a while to build back up our savings. At first, the idea of renting made my stomach turn, but we realistically think it is a smart move. There is actually a good selection out there of much larger, nicer homes in better neighborhoods to rent for less than what our mortgage payments are now, so we can build our savings while living a decent home. Homes prices are also predicted to still drop in the next year, so we might get even a better deal on a house to purchase by waiting.
I would just like to add that we now believe that people who say that house ownership is the way to go are full of bologna. It has been nothing but a financial disaster for us! Granted, we bought and sold at a really bad time, but still, just sayin'.
