Renting an Apartment or Townhouse?

I would definitely lease a townhome. Not being above or below anyone else's living space is much preferred. I've had two busy kiddoes in an apartment and it's so difficult to keep them from jumping. I always felt awful for my neighbors!

Buying a townhouse is still buying a house.
If you are not ready for buying then rent a house or townhouse.
What I hated about apartment living was no matter how clean I was I was dependent upon my neighbors to be equally clean in order to avoid cockroaches and some of them were just not up to that particular challenge.
I've helped friends move in and out of townhouses and although THEY were very happy I hated all those stairs.
Some really like having a house/townhouse that's all house and very little yard because they don't have to worry too much about mowing and outdoor maintenance.
I personally like a nice big yard (acres) because I got really tired of other peoples dogs doing their business in my yard and/or leaving their animals out till they are barking their heads off right outside my window.
You need more bedrooms but you should be able to rent some sort of a house for a long time and then you'll really be prepared when it comes to buying one that will come with a 15 or 30 year mortgage.

Personally, I vote townhouse.

It REALLY sucks having toddlers/preschool kids in an apartment. If you are on an upper floor, you have to be concious of allowing them to run around and play to roughly in consideration of the people under you. If you are the bottom unit, you have to be more careful about volume control. Plus, there is he benefit of having a yard where you could put a small sandbox, play in the sprinkler, pool, or any other fun outdoor activities that you can't keep in your apartment. Plus, you don't have to store outdoor toys in your house. I always having to haul bikes up and down while keeping track of my daughter.

I was SOOO happy to get out of an apartment.

Maybe you could compromise with a duplex? I used to live in one that was split side/side, and it was pretty nice. The neighbor had two very active lung sons and we never had any issues with them. It actually worked out for them, because we were willing to be emergency babysitters for them. :)

I have a friend who bought a large camper, and parked it on a lot that cost $150/month. They set up a screened canopy to use outdoors, and lived in it for a few years with their toddler and twin babies. They say it was cramped, but not too bad of a lifestyle. They simply spent a lot of time outside and at parks or other public places. They loved that they were able to save up for a house very quickly.

Stay put for another year and revisit the decision on what is best for you, your wife and your recently adopted. You pocket any costs which would have been incurred in moving out of this current home into your next transitional space and from your transitional home into the more permanent home. Your wife envisions 5-7 years, but maybe you can scale it forward to 3-5 with some planning.

Don't buy so many doll houses for the kids, invest instead in a real home for the family.

Best,
F. B.

I'd think most townhouses are more expensive than similar sq footage apartments... So that likely is a factor but stripping that out, I'd vote townhouse any day. I was just at a friend's last night. It's great. Their deck has open grass right below for the kids to easily go out onto. So it's not a private yard but almost might as well be. I think many townhouses are set up like that. Unlike many housing developments, townhouse also often have a pool which is great. All the maintenance etc is taken care of. So budget would seem to be the only reason in my book to ever pick an apt over a townhouse... And they usually have the garage as part of the house so no going up and down outside your own "space" to a garage. Easy access to the outdoors and garage plus no one above you making noise seem to be the biggest factors in favor. They're just so much more like a house. Especially if you get a corner unit...

We bought our townhouse. We could not yet afford a regular house, and the mortgage was much lower then the rent would have been (by about $400 a month). Now, we are starting to think about a single family home, and as a bonus we have 5 years of equity built up in this place to help us with the down payment.

If she works in DC and you are in Potomac, you are probably familiar with the Metro system. I would look for a townhouse close to a station for her commute. I have lived in both apartments and townhouses and there are pros and cons for each, but even a small yard for toddlers would be beneficial. There are some nice communities in Rockville and Wheaton, depending on your needs. It is not uncommon for people to buy a townhome to rent later, so you should be able to find somewhere.

ETA: I do agree to look in to the HOA. Some are draconian and some are not. Ours was not, but it was also an older community. My friend is fighting with her HOA over fence damage caused by her neighbor's tree.

As far as I am aware in MoCo, pre-k is offered through the district, but mostly for families who cannot otherwise afford preschool. There are MANY fine preschools in our area (some also with daycares attached for full day enrollment) and it will not be a problem to enroll your children in a preschool unaffiliated with the district. My DD did not attend preK at her current elementary school.

Two friends of mine did purchase vs rent because they could get a better mortgage than lease. They bought a small single family home, though. And didn't have kids. My sister and BIL are still in their "starter home" so IMO if you are not ready to buy, don't rush it or buy a "just for a few years" home. You might get stuck with it.

I would do some looking (perhaps with a realtor) and see if there's a middle ground between saving and having more elbow room.

There are so many options here.

Ideally, I would say - could you move out a little further to stay in your current budget, but have a slightly bigger place? I know your wife probably doesn't want a longer commute, but you could stay on the Red Line for her commute into DC, just out a little further. What is the price comparison on a 3-bedroom apartment versus a 2-bedroom townhouse if you go to Rockville or Shady Grove?

Then you could do both - get a little more space (what you want) that will last you until you are ready to buy a townhouse (what she wants).

I would much rather have a townhome over an apartment. Would it be possible to rent a single family home? We went from a small condo in CA to a small townhome in VA and we are now renting a single family home with a nice yard for only a few hundred more per month. We are currently in the process of buying the home we are renting.

Could you PURCHASE something, instead of renting, a little further out and less expensive so you are building equity and still have the space you need for your growing family? Then later buy that dream house. If you hate the apartment now, just imagine it with two growing 9 and 11 yr old girls! I know your market is expensive, but when we purchased our home, the mortgage was LESS than our rent!

I think that sounds like a good idea. We don't live in the D.C. area, but we own a townhouse and love it!

I wonder if you can find a 2 bedroom townhouse with a finished basement? The basement could become the girls playroom, allowing you the option of a 2 bedroom vs 3 bedroom townhouse. What is the price difference in your area for 2 bedroom vs 3 bedroom townhouses?

Hi, T.:

If you buy a townhouse, check on the Home Owners' Association first. See what the Home Owner fees will be. Also see how the Home Owners' Association manages the money. Who manages the Home Owners' budget and finances.
I don't know about up there, but down here, trying to sell a Townhouse is very difficult.

The financial arrangement of the Home Owners' Association is something to research as you consider a Condo. Get documentation too.

Apartment hunting will be easier. You will have more flexibility renting an apartment than buying a condo, if that is what you need while they are growing up.

Good Luck.
D.

what does your wife want to do?
khairete
S.

In my honest opinion one of these kiddos will be starting school in a year and the other one in 2 years.

You need to move to your forever home....that can be an apartment if you want it to be. It could be a nice 3 bedroom home too.

You both need to think about the kids. Having a house in this area is expensive, I understand this. I do think you have options though. It is quite lovely there and the schools can be extraordinary.

This pre-K kiddo should start school next month. If you can find a house this month and get the paperwork done then you can enroll the kids in that local school and start to move the first of September then take the whole month to move everything. You can take time to paint the new place, pick out decor for the girls, and take your time. You can also just start the kids in school a week or two late. Then they won't be making friends just to leave in a few days.

I have lived in 2 town houses now. They vary in price depending on the size and community. Our houses didn't have the garage or pool that another poster commented on. The big pluses- often you have the same space as a single family home at a smaller amount of money. The minuses- no yard, when it snows it is a pain to shovel between cars, being on top of your neighbors, and if they aren't clean you get bugs and mice through the walls and if they take care of their lawn it is right next to your lawn. The biggest minus though is the community association. They drove us nuts. Trash bags had to be a certain color, everything had to be approved, even trimming your bushes and trees, and we had to pay them a huge fee to drive us nuts. And the fee kept going up each month. Now we did have a large amount of renters in our community. You have to negotiate association fees with your leasing agreement. If I had a choice between apt and town home I would pick town home. But I would rent it. Selling our house took forever.

I would try to find a single family house to rent with the option to buy.

Well, your wife wants to stay with the current budget, she sounds like a smart lady. How are you going to save up for a house if you're paying a few hundred more monthly for a townhome? I would either stay where you're at or look for something a little bigger in the same price range. A duplex is an alternative, we did that for a few years when our girls were younger. You never know what's out there. Have you talked to a mortgage broker about buying? Wouldn't hurt, just to see where you're at. Maybe you could qualify for an FHA with 3% down or look into Fannie Mae (Homepath), they do 3% also and no pmi. Good luck!

I would not bother moving to another apartment if you are already cramped in the one you have. I would look into renting a townhome or looking for one that may have an option to buy later on.

Moving from place to place can get costly and causes a lot of stress for the entire family. Sit down with your wife and talk about all the different options you have. There are pros and cons to both renting or buying.

That's a tough one. Do you watch the kids as you work from home or are they in day care out of the house? If they are home with you all day while you are trying to work I can totally see the benefits of a bigger living space. I work out of the home and my husband works from home and watches the kids during the day while he's working. We currently have a 3 bedroom town home in Howard County and I know he would like bigger. For us, we put some cash down so our mortgage payment is way cheaper than rent would ever be for us. In today's mortgage market you will need some cash down. And 3% isn't the small amount it used to be. With a town house you can often times get a basement that isn't included in the posted square footage. So a 1200 sq ft town house would have 600 extra sq ft in the basement than a 1200 sq ft apt would. Around where I live a 3 bedroom townhouse rents for the same if not less than a 3 bed apt as they are harder to find. Also, do you have pets? That might be a problem in an apt. Also, kids running on an upstairs apt often make for cranky neighbors underneath (I'm not saying it's right just saying it happens). I'd do some research and see what the price range you are looking to pay monthly is at look at town homes. Also, make sure your price range is realistic. Realtors are a great starting point too. I know my realtor will also help renters find places too. They also have many clients that are looking to rent their current town houses so that they can move into a bigger house. If we moved that is what we would do. Good luck.