For the people who have screamed out about "catching a falling knife", I hear ya, really I do. But the uncertainty of living in a rental or buying at a (what we consider a reasonable price) greatly reduced (think early 2004) price in a superior school district at 6.5% interest on our loan really influenced our decision. We will be in a neighborhood that we love (even at night) with parks, superior schools and a grocery store within walking distance. The backyard has room for the swingset of doom. The guest room is sufficiently removed from the rest of the house so my mother in law doesn't have to listen to my children at odd hours of the day and night.
Rosebud says- There was a comment about rich people all sending their kids to private schools, ergo the quality of schools didn’t factor into this discussion… think the same poster said that the schools were good, but not great. The best school in the district is in Northern SM, which is in the top 1.5% of all elem schools in the state. Top 1.5% is great not good. I’ve said it before, this is a huge factor when deciding where to buy for those that have kids or are thinking about it. With the top private schools costing 3k per month, per child, a family with 2 kids can afford nearly $1MM more on a mortgage by sending kids to the great public schools. Even if you feel you need to send them to a private high school, you rack up significant savings beforehand. The rich pay for their kids’ education out of the same account that they pay their mortgage. For those counting, this is OUR deciding factor. We currently have a house that meets our needs for shelter, but is too small and is in a LO...
Moving is happening just swimmingly- although there are some plumbing issues to correct before we move in for good. Anon- we are very thankful that we can move in- we weighed the costs and it makes sense for us now, not two years from now. As for Westside Story- I'll update everyone when we start the process of negotiating with the PPCL regarding remodeling. I wonder how they feel about gargoyles and a moat?
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