The Hunt Is On

Well after a few months of debating we finally decided to go and buy a home in here Bryan/College Station (BCS). We were hesitant because Justin currently works in Conroe everyday and drives back and forth. I am unable to get a teaching a job in that area currently because of State and Federal Education budget cuts (boo). So we figured we would just rent again this year and hold out here for one more year and see what happens. Well after looking at several rent homes and feeling cheated we finally decided we would just bite the bullet and buy.


Incase you are not familiar with BCS it is a college town, with over 60,000 student, so finding a rent home at a reasonable price is kind of hard. Here is a prime example.... a 1300 sq ft home, 3bd/2bth, in a decent neighborhood will run about $1300-1600 a month. That seems a little excessive to me only because I can go out and buy a home with more square feet for a mortgage about that or less. I understand that they can price their homes that much since three students living in a home is the average, which comes out to about $400 a month for a student. Well not me, I refuse to pay that!! I will be smart about this and buy my home and if we have to rent it out, I'll be the one making a profit, at least in my head it makes sense!


We are of course still a little leery because with Education cuts, no teacher is safe, but our realtor informed us that PMI rates go up April 18th. So that literally leaves us about two weeks to sign! So this past weekend we spent time meeting with a local builder here in town that helps first time home buyers and builds great homes, but it will take about 5 months! So we are in between a rock and hard place, do we build and nice new home with upgrades and little less sq ft OR do we buy an older home with less upgrades but with more sq ft? That is question we are facing, and it's a tough one.