Sunday, May 4, 2008

Where, in Utah, Can You Find Us?


So, in a couple of months we will be out of Sacramento and living in a foreign land, with weird people - Utah(I heard they still practice polygamy there):) Just the thought of living away from "home" turns my stomach upsidedown. Sure I lived in Spain for two years on a mission, but now I have a family to care for/look after, and a master's program to complete - yeah, a little different. We are up for the challenge, though. Our biggest stumbling block, now, is where in Utah we ought to live. I'll be attending the U of U in Salt Lake City, so we need a place relatively close to the campus. Another of our plans is to open an in-home daycare business. This would allow us to get into a decent-size house, with a backyard and basement, and we'd be able to write-off a ton of our expenditures during tax season. However, this option opens a ton of legal mumbo-jumbo that Tami is sorting through, a commitment to a mortgage, cost of repairs, and a location at most 45 minutes away from campus. What should we do? This is what we've research thus far:

- Bountiful, Murray, Midvale, West Valley, Draper, Sandy, Taylorsville: all of these locations offer houses that would provide space for the daycare, and that are relatively close to campus.
- Salt Lake City: Student housing. Three bedroom, two baths. Pros - Inexpensive, a mile from campus. Cons - they're kind of outdated, we'd pay rent (bye-bye money), a wait list a mile long, apartment stlye living (we had a bad experience in our first apartment), no opportunity to open a daycare.
- The Condo Approach: Decent three bedroom condos, some are close to campus, some aren't, some are less in monthly payments, but not by much (so why not spend a couple hundred more and get into a house?), again, daycare possibilities would be more difficult to pursue.

As you can see we have a lot of options open to us. So, to everyone reading this blog, "What would you do? Do you buy and invest your money into a house, or rent and watch your money go to someone else's investment? Do you live in Salt Lake, or out of Salt Lake? Would you open a business, or leave in until I finish school, so as to live with less financial burden? Is everything either/or, or is there a common ground somewhere, and we just haven't found it?

Feel free to let us know what you think, and give suggestions/advice. Unitl next time...

If you're wondering: Our primary goal is for me to get through OT school (in one piece), and then ultimately to open an Occupational Therapy clinic along with a recreational gymnastics facility.

11 comments:

Anonymous said...

OK, here is my opinion, but only an opinion. I say live as close to campus as possible. Grad school is so busy especially the first year. It is nice to be able to work together, and minimize travel time so you can spend time with your family. I say sell one of your cars, live close to campus, and maybe watch one kid or nanny for someone. As for buying a house how long will you be there? It seems like there are a lot of costs involved with buying or selling, and how knows with the market right now if it would be worth it. But, if you found something you loved, and was a good deal why not go for it. OK I clearly have too much time on my hands right now, and gave you more advice than you probably wanted to hear. Another idea, sometimes older people like to have young families stay with them to help with light cleaning and meals etc... Ok, no more advice from me. Good luck! It is such a FUN FUN time! Enjoy this new adventure. It goes SO So fast!

amanda jane said...

okay so when do you come? we just rented a not too bad duplex around the corner from our place and MAYBE we could be out in time for you guys to move in. only 900 a month! I know it's not buying or big enough for a day care, but it is close to school and the bus stop is pretty close by! then you can take your time finding something just right...

Tami said...

To savage fam - thank you so much for your opinion/advice. It's very helpful to get a perspective from someone who is going through a similar situation. We are already down to one car; the program is three years, so spring 2011.
To amanda jane - my program starts on August 25th, but we were planning a move the first week of August. We would be interested in the duplex if it's available, more info? Thanks so much for commenting!

Michele said...

We loved living in the avenues when we where there, holy cow - eight and a half years ago. I have no idea what the rents are like, but the vibe was cool! Plus, the prophet lived in our stake and showed up at stake conference every once in a while. You can't beat that!

T.M. said...

Hey Tami and Dan, This is Mari Gettys/ Boersma. your family is so cute and Noel is getting so big.

We have looked into buying a house but there are alot of extra cost involved like closing cost, having a decent down payment, having an income to qualify for the loan. Right now you guys probably do not have alot of income to even worry about the itemized deductions. Also you are probably not planning on staying in Utah for more than 5 years. I would try to find cheap housing close to campus so you don't have to drive your car very much. Dan can ride his bike to school during the non snowy seasons. I would wait until he actualy makes an income to invest in a house. If you have your heart set on buying a house now go to the hud website to find out what you can actually afford and what you can actually get a loan for with your anticipated income. Good luck!

Chelsy said...

Dan (& Tami too)...congrats on getting in to the U (though now we will have to be bitter rivals!) Found your blog through all the other Casa alum. Glad to see things are going well and your family is adorable. I have run into Callie a few times out here (we are in the same stake). Anyway, just wanted to say 'hi'. Good luck with the move and maybe we'll see ya.

Potters said...

I tend to agree with what many of the others have said. Grad school will be so busy for you leaving Tami feeling like a single mother most of the time. She will really have her hands full. I'd suggest being close to school, find a good ward with other young couples doing the same thing - rent for a while and see if this house thing is really right for you right now. Tami can always baby sit an extra kid here or there, but an entire day care is a lot to take on when you are trying to take care of two of your own. Good luck! Serena

Tami said...

Thank you all for great advice! We were initially really excited about the low home prices and what you can actually get for your money. The rental market out there is pretty high. We are leaning more toward student housing- it would allow us to focus more on school and family.

Anonymous said...

You're moving to Utah?!?!? I live out here too. This is Kristen (Finders) Larsen from Tricks. Hey keep in touch kristenandsean@gmail.com. sussurrodoamor.blogspot.com.

Sara Marie said...

Tami! I am so excited to see you here! I just started a blog this week and am having fun finding old friends! Looks like you and Dan are doing great!

Love,
Sara Haycock-Thomason

colin and brooke thompson said...

Hey guys... We did the opposite. loved our home, neighborhood, experience, financial benifits, learned alot, but as you see... Chris still hasn't finished school. With the program you're in, the new baby, the fact that you have to come back home after the program is over.... I think renting something as close to campus is better. It's so hard making decisions like this, and it's one you have to make with advice from others, but remember it is only advice... not right or wrong. No wrong decisions in this. You make up your mind and then figure out how to always make it work as you go. Man. I'm going to miss you! -Brooke