The title is kind of the tl;dr but we bought our first home in March 2020, an townhome in an older community (1970s). It’s in a really desirable location, best school district, yada yada.
So, come to find out the HOA/homeowners have been kicking the fan on needed repairs to the neighborhood for going on 30 years. There are drainage issues, rotted siding, and pavement issues that need to be addressed. Close to a million dollars and $12,000 per homeowner over the course of two years.
While all of these improvements are certainly necessary to maintain the value of the neighborhood and frankly the live-ability, we likely don’t plan to be here more than five more years. At least, I hope we will be upgrading to a newer home in that time frame.
We are young in our careers and have a baby on the way. We are saving to buy a car with cash and are anticipating 4 months of unpaid maternity leave. We CAN afford this amount, but it’s definitely no loose change- about 3.5 months of savings for us. Our combined income is about 160,000 a year.
If it weren’t for the current market, I would move in a heartbeat, but we are in a housing shortage and in our city it’s extremely hard to buy right now.
I’m kind of like fuck it, let’s just move further away to a better maintained suburban neighborhood, and my husband is like I’ll eat the cost and stay here.
Am I being too shortsighted or am I right to want to get out?
Submitted March 01, 2022 at 01:55AM by catmememama https://ift.tt/KHPGNFV
