To Rent or Buy in Richmond!!! We Can’t Decide, HELP!!

So our plan was to rent in Richmond for a year to feel it out.  Our realtor has an adorable cottagethat I fell in LOVE with and at $156k is within our price range (My Cottage), BUT we don’t feel comfortable taking that big of a chunk out of our savings especially since we don’t know how long it will take for both of us to find employment.  So we relegated our selves to renting significantly below our 2 income means and pad the kitty for a year.

Then today Jerry was posing some hypotheticals so I looked around a little and found a house I liked that would be less that renting that took a much smaller bite out of our savings and we got approved for a 15 yr @3.75% or a 30 yr @4.75%.  Cheaper than rent house


House we’re considering

 Now the dilemma. 
We saved a years worth of living expenses in anticipation of this move and if we buy the cheaper house it will shave a couple of months off of our living expenses.  We are confident in our abilities to locate employment, but the Vulcan in us says it is not logical to purchase at this time, but the Romulan is arguing that we have to strike while the iron is hot.  Jerry & I are not risk factors.  The biggest risk I’ve ever taken was contacting my fathers side of the family and that was an emotional risk, not a financial one.  Big difference!  One just makes me cry and gives me nightmares to this day, the other has the same affect but I’ll be having those nightmares under a bridge!

We also aren’t sure if we’ll be able to get approved if we wait 6 monthe to a year because Jerry’s 13 year job history looks really good and I’m not sure how much job history counts to a mortgage lender.

Regardless, we are going to talk to our realtors lender and see what our options are.  The house has been on the market for 65 days and has already been reduced, so I don’t believe they are getting much traffic.  That may be good new for us.

Oh well.  Hopefully we’ll be able to think clearly tomorrow after some rest.  I won’t say after a good nights rest because I have been having the most emotionally disturbing dreams these past couple of weeks about family.  They have waken me up in the 2 o’clock hour every night for the past 2 weeks.  Last night we were at Disneyland and my sister was mad at my father for making her share a room with me, but my 2 brothers were completely happy.  Hopefully by writing it down my brain will work through the emotions.  I still don’t know what to do about the whole thing, but I’m delving more into that in a chapter of my book.  I just want a quiet nights sleep where I don’t wake up with a wet pillow from crying.  Is that too much to ask?!

ANYWAYS, sorry for the tangent.  I really would love some advice on wether we chould buy or rent?  I need some opinions and reasons to swing me one way or the other.  Please let me know your thoughts below

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