I have 2 kids and another on the way, and we live in Austin. I don't forsee making any more money in the next year, and the same with my wife. She will be going on maternity leave in April, which is when our first house payment would be due. The house we like is about where our max on a house is in cost. We are getting many complaints from our neighbors because my kids are kids and sometimes cannot stay quiet. I have considered just asking to break my lease because I cannot physically comply with the guidelines they have set. Also, with the additional child, we will not be in compliance with the Texas Apartment Association's guideline of no more than 4 occupants in a 2 bedroom apartments. If they do allow me to leave, is this the best time to purchase a house given the 2006 housing market increasing by 12%?
2007-01-21 04:59:17 · 13 answers · asked by Jeremy G 1 in Business & Finance ➔ Renting & Real Estate
Austin will continue to rise, so I would do it now.
2007-01-21 05:07:47 · answer #1 · answered by ☼High☼Voltage☼Blonde☼ 4 · 0⤊ 1⤋
Well my friend, you have the best argument for breaking a lease that I have ever seen - and especially the point about the baby on the way and occupancy law. If there is really the upset from your neighbors, I really think it would be to your benefit to have a humble and frank conversation with landlord, appealing to their intelligence and the inevitablity of your being out of compliance with occupancy.
I would make an effort to do this with integrity rather than just move out, but in the end sounds like your moving is the lesser of 2 evils as regards the lease.
2007-01-21 05:13:06 · answer #2 · answered by justbeingher 7 · 0⤊ 0⤋
No... unless you can sublet or get out of the lease, else you are losing big bucks there. Don't be fooled, forced or rushed to buy now. The housing market will be down all 2007 and later. You are apt to get a better deal then so wait it out another 6 months and then you have time to bargain around a move date with the seller.
Also, The prices won't move till there is a glut of sellers and it looks like it is heading that way so don't believe all you read about the housing market. It's an industry that ebbs and flows.
2007-01-21 05:04:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I agree with Ben. As for some of the other answers, there is absolutely no reason that a landlord should have a key to your place, and this is always a negotiable term. Change the locks and don't give a key to anyone. If it's an "emergency" then they can break in and bill you for the extra damages. But you should NEVER give a landlord a key, if you value your privacy. If they want to evict you for that, you should find a more reasonable place to live anyway.
2016-05-24 05:47:36 · answer #4 · answered by Maryann 4 · 0⤊ 0⤋
I used to live in an apartment with kid problems. You or anyone
else living there shouldn't complain. Kids are kids and there is no way around it. I broke my lease 4 months after renewing without
any problem. If you and your husband want to go ahead and move. Tell your landlord (in writing and in person) of your intentions. They should give you 30 days to vacate said apt. As far as the deposit goes that will depend on what shape the apt is in when you leave it. Best wishes.
2007-01-21 05:21:37 · answer #5 · answered by Williamstown 5 · 0⤊ 0⤋
Sounds like you might have to move whether it's the ideal time or not. Try to get out of the lease in a way that won';t cost you.
You might want to buy a cheaper house for now, so you're not so strapped, then upgrade in a few years. There are always more expenses than you might expect.
2007-01-21 05:07:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
They let you sign a lease in November, knowing your family would outgrow the apt in April? Is the apt's intent to move you to a three bedroom in April? It might be.
If you were in San Antonio right now, I'd advise you to rent a house for a year or even two. Too many investors bought houses that have been sitting vacant for several months. Rent prices have been dropping.
A house you could buy with a mortgage of $1,500 in San Antonio could be rented for about $950 to $1,100. I think there will be a glut of foreclosures in a couple years here too.
2007-01-21 09:36:34 · answer #7 · answered by teran_realtor 7 · 0⤊ 1⤋
If you can break the lease, it may be time to find another apartment.
Dont underestimate all the costs with a new house...AND a new baby?
Dude, the taxes on a house are what really shocked me, plus you will be buying gardening stuff, paint, carpet etc...more than you can imagine...all of it adds up, not to mention the extra work involved.
2007-01-21 05:08:44 · answer #8 · answered by AA 3 · 0⤊ 1⤋
If you have the means to get into a home, do so. You are currently paying on someone elses property. If you purchase any increase in property value will be yours. Not to mention the kids will have yard, as you know kids will be kids lol.
Hope everything will work out for you.
2007-01-21 05:14:47 · answer #9 · answered by gimlost2 2 · 0⤊ 0⤋
You seem to have some reasonable reasons as to why break the lease, if you truly consider this your best option as to purchase a home then go for it!
2007-01-21 05:04:38 · answer #10 · answered by Yvette 4 · 0⤊ 0⤋
Don't do it unless it's actually going to save you money every month (i.e. the mortgage, taxes, and maintenance should be lower than you currently pay for rent) and you have cash for the down-payment and moving expenses. If anybody gives you a hard time about the children, check with a lawyer, I don't think it's legal for them to do that... you can probably sue for discrimination.
2007-01-21 05:11:40 · answer #11 · answered by alex 2 · 0⤊ 1⤋