This topic is of particular relevance to me because I have been looking at options for San.  He is in the real world – works full time and is paying back his school loans.  He was only considering renting because he does not make a lot of money, but I started to do a little research on condos in the area and found that, with the help of many foreclosures, he could probably afford to buy if he wanted to.  Of course, along with condos come association fees which can tack on a couple hundred dollars to his mortgage, but if he got a two bedroom condo, he could live with a friend and still pay about what he is paying now.  The upside will be that if it is a foreclosure, in a couple years he will hopefully get all of his money back plus some extra, but one can never be so sure with the economy being so bad.  Plus, he will build credit along the way – something we are both interested in because we want to be strong contenders when it comes time for a house, car, or other big purchases in the future.  However, if he were to lose his job or move, this would not be a good option.  He would need to stay there at least a couple years if not more, and being as young as he is, it is hard to make the kind of commitment.  With an apartment, at least you can get out of the lease, but you will pay for it.  Who knows if he would ever be able to sell the condo if an emergency occurred and he can definitely not pay for two places at once.

There are many resources to turn to about this debate.  Here are some examples:

The New York Times has a great online resource where a person can enter their current monthly rent and compare it to a home price they could afford as well as the down payment, mortgage rate, and annual property taxes in order to determine whether it would be a smart idea to purchase a house or if they are better off renting.  According to this, San would be better off renting, but that is only because he would be out a couple hundred dollars.  It does not seem to take into account foreclosures which will probably appreciate a lot more because they are purchased for less than they are worth.

Yahoo Finance weighs in on “The True Cost of Home Ownership,” “How to Tell if You Can Really Afford to Buy,” and “An Appreciation for Ownership.”  They also have a handy buy vs. rent checklist.  These are important reads if you are thinking about buying or renting or helping someone else make the decision.

And lastly, although there are many resources out there, Yahoo Real Estate breaks the pros, cons, and costs savings down into useful charts which make it easy for anyone, even the financially naive (like me), to make an educated decision.

Now I’m wondering, do you buy or rent?  Did you buy or rent when you were on your own for the first time?  If you are not on your own yet (like me – although I suppose my on-campus apartment is considered renting) what do you plan to do when the time comes?  I find these big life decisions fascinating, so if you wouldn’t mind sharing, I’d love to know where you stand!

However, what happens when we realize that we are hoarding?  I do not want to make light of hoarding, but I have noticed that I hoard some things.  I definitely do not have piles of stuff blocking my windows and doorways, but I have noticed trends in the things I buy.  I buy things I don’t need, but I buy them over and over because I am really like them.

What things do I hoard?  Can you guess by this picture?

I’ll do the counting for you – there are nine cardigans in this picture.  The three in the bottom right corner I just bought this weekend.  Most of them I have picked up for $10 or less, but I still find it a little strange to have this many.  I feel like I can justify each purchase, however, because I really do wear them a lot (some of them at least, like the black one with the white stripe around the opening in the bottom left corner).  I also tell myself that when I am teaching, cardigans will be my staple item that I will wear for all sorts of occasions.  Plus, they really do help me transition my spring and summer clothes into fall and winter, meaning I am wearing most of my clothes year-round instead of seasonally.  However, I still feel like this cardigan obsession of mine is slightly out of control.  I always tell myself I don’t need anymore, and then I end up buying another.  I had a couple more, but I am selling them at a garage sale.

Another thing I find myself buying time and time again I actually spend very little on, but money is money and I need to save as much as possible.  I usually buy the next item at garage sales.  Let’s take a look at past photos from garage sales I’ve shared on the blog to see the pattern.

Nope – it’s not an ironing board obsession (right now, anyway)…

Remember when I turned this pedestal bowl into a makeup brush holder?  Half the reason I did that was so I could feel that I wasn’t buying things with no purpose (although I know I really do buy all of these things with no purpose in mind – only because I like them).

I love colored glass.  It doesn’t even usually matter what the color is – if it’s colored and cheap I’ll probably guy it.  Now, some of you may say that buying things in bulk like this is not hoarding, but rather collecting.  Well, I am not displaying any of these things as a collection and I don’t buy them with the intention of “collecting,” so for me I really am hoarding them, although I am getting enjoyment and use out of some of them.  I think some people do collect things which I would not consider hoarding, so this post does not refer to those people or that kind of buying.

Now that I’ve noticed this trend in my buying habits, I have decided to monitor myself more and only buy things I have space for (which won’t be much in my studio apartment this fall) and things I really need or want.  With both of these requirements, I don’t think I will be buying many cardigans or colored glass pieces which will make me and my wallet very happy.

Now, I’m dying to know if I am the only one with minor hoarding symptoms.  Do you buy anything repeatedly even if you don’t need it?  Please don’t make me feel like I’m the only one!

Wait, what am I talking about?

I’m 21!  The big party-hard birthday ‘everyone’ looks forward to.  Except, I’m no partier and will probably not even drink anything alcoholic today.  I’m having a get together with my closest friends on Saturday, however, where we will be eating Mexican food at a local restaurant, sipping a margarita, then going to a bar or two where they will urge me to get completely drunk (which won’t take much, I’m sure), but I plan on remembering my birthday celebration, so I will do my best to stay classy.

What I look most forward to about this birthday is not having so many limits.  When I go on a date with San, I can have a strawberry daiquiri without having to mention anything about virginity.  When my friends go to the bars, I can go too, even if I don’t want to drink.  Most bars in the Twin Cities require you to be 21, so I couldn’t even go along to be the sober driver.  I can today, though!  Woo to the hoo!

So that’s my excuse for no good question.

Well, okay, I’ll ask you this – what is your favorite drink?  Now that I’m completely legal, I want to try some fun ones!  Don’t hate me, but my first shot is going to be a “Redheaded Slut.”  I have no idea what is in it or if it’s even good, but I just heard it once and decided it would be my first legal shot.  Are you still reading or have you lost all faith in me?

So, if you’re still with me, let me know your favorite alcoholic beverage and you can even throw in a story about your first legal drink or any funny (or sad/shocking/happy/boring) drinking story.  I’m sure none of my perfect angel readers have ever touched alcohol, though, but just in case feel free to share!

Photo Source: Flickr

I’m now on the hunt for a new one and want to know if you have any recommendations. I’m looking for something used and pretty inexpensive (think around five grand or less). I want something I can haul a good amount of stuff in because I will be moving a lot in the next few years, but I don’t want a gas guzzler. All wheel drive or four wheel drive would be great since, let’s be realistic, Minnesota is not seventy degrees all year long and many accidents happen in the winter (which lasts six months around these parts).

I’m thinking a station wagon, a midsize SUV, or a ‘stylish’ (I hope you know I’m kidding) van. I don’t mind being a college student who drives a van. All in the name of practicality…

So, what do you drive? And even if you don’t drive anything that fits my description, I’d like to hear about it because I like to be educated! And, just for fun, what car would you drive if you could take your pick from any car ever made.

I’m thinking either one of these…

Rolls Royce

Or a restored one of these…

Vintage Car

Note: My AC Adapter for my laptop has seen its final days, so my blogging will be sporadic until I get a new one. It should come next week, but you never know when buying things online.

Yesterday, I posted the first part of the Minnehaha Parkway neighborhood tour.  I promised I would show you the more colorful houses, which I am doing in conjunction with my Think About It Thursday post.  After seeing all the more subtle colors on the homes yesterday, I want to know what you prefer – neutral or colorful homes.  Would you rather have a home with neutral colors and use landscaping and accessories to bring in color (or bring no other color in at all) or use color on the house itself and limit the color in other areas?  Or, do you like color everywhere and cannot get enough of it?

Let’s look at the second part of the tour so you can be the judge of what looks best.  Again, for the first part, head over to yesterday’s post.

Light blue shutters and a red clay tile roof. Very pretty!

I’m loving the turquoise!  Think of how bland this house would be without the splash of color. The red looks so great next to the brick on this house.  Great choice!

Okay, so this house has no color, but the black and white are so striking on this house compared to the beiges and tans found on all the other houses.  I had to include it! A colorful door always makes my day brighter!  Does it for you?  I want to know whether you like colorful houses or not – weigh in in the comments section.

I think it’s probably obvious that I like some color on the exterior of houses, although some houses are so beautiful they can be very neutral because the architecture stands out.  My parents renovated an Amish house we lived in for over ten years while I was growing up which was very beautiful on the inside but not so beautiful on the outside because it had white siding and nothing to spice it up a bit.  They added a wrap around porch on the front and a long deck on the back and used dark stain to add contrast.  Before moving, they added burgundy shutters and it made a world of difference.  I’m a color girl!  What about you?