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My boyfriend and I are 22 and have been together for 6 years. We know that we are going to be together forever and would like to take the next step in our relationship and move in together. But we do not know what our best option is when it comes to where to move. We feel like an apartment would be better because we could lease from month to month or do a whole years lease. We also think that a house could be better because if we can find a house cheap enough on a 30 year mortgage after utilities are included it could be cheaper than renting an apartment for $ 500 a month which doesn’t include utilities or anything else. We do understand that getting a loan is going to be hard and we would need a co-signer but if we could do it then why not? We just don’t know what would be the smartest move for us right now. We need some help!

4 Thoughts on Should my boyfriend and I move into a house or an apartment?
  1. Reply
    R. Lee
    April 20, 2013 at 7:45 pm

    Rent! You have plenty of time to buy your own home. Give your relationship more time. Six years is a good amount of time, but you haven’t been living together six years. Additionally, asking someone to Co sign for you is asking a lot!

  2. Reply
    rtfm
    April 20, 2013 at 8:20 pm

    How much money do you make? If you’re talking about needing a co-signer for a mortgage that only amounts to $ 500 a month, it sounds like you definitely can’t afford the home. Have you considered how you’d pay for the taxes and the insurance, along with all the other responsibilities of home ownership?

    And do you even have the 20 percent down payment you’d need to get the mortgage in the first place?

  3. Reply
    M W
    April 20, 2013 at 8:47 pm

    You should never buy property with someone you are not married to and you shouldn’t do it if you can’t do it on your own, without a co-signer.

    You need to rent an apartment, work full time, save up for a down payment and try to acheive a good credit history and score.

    Then, after 2 or 3 years, think about all of this again. This is not the right time.

  4. Reply
    BeeLiz19
    April 20, 2013 at 9:12 pm

    For me, the time isn’t an issue; in 6 years, you know each other’s bad habits and quirks (to double check, have you had all the big talks? How you each like to handle kids? finances? etc.?)

    Co-signer, WHY? Unless you don’t have the moula, which means no. When you guys have a stable income that can support your finances (down payment, mortgage payments, bills, ownership costs, etc.) completely on your own, then that’s the right time.

    Getting an apartment is getting a hole in your pocket; you’re wasting money that isn’t going to building the value of your living quarters.

    ***Debating same question; as much as I feel the need to move out NOW (I’m 22, been ready since 17) and technically can afford an apartment right now, it does make sense to find a place, renovate it over the years, and build equity on it after paying off the mortgage. But I’m the type of person who can be patient over the years.

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