How big a house should I get?

[RabidPony]

It is highly likely that the gf and I will be moving soon, most likely to Indiana. We are looking at renting a house this time around as opposed to an apartment or condo. There's the two of us and two medium sized dogs and we have a fair amount of stuff for two people so we need some space. We are looking at somewhere between 1750 to 2500 square feet including a minimum of a two car garage. What size house would you folks suggest?

[Maddawg]

500 sq ft house, 6 car garage.

[RabidPony]

500 sq ft house, 6 car garage.

I should also mention I need enough bedrooms to have a spare to set up a home cinema/gaming room/man cave.

[Maddawg]

I should also mention I need enough bedrooms to have a spare to set up a home cinema/gaming room/man cave.

Right, its called a 6 car garage, lol.

[HeckaTrebeka]

I would suggest something between 1750 and 2500 square feet.

[Maddawg]

If you're thinking 4 bedroom, I would think nothing smaller than 2500 sq ft. Otherwise the bedrooms are going to be very small.

[vt_maverick]

Take a look at your budget, determine the max you could pay for rent + renter's insurance (which will be higher on a free-standing house than an apartment) and then subtract 10% or so to cover rent increases. Once you've done that math you'll have a solid idea of your rent ceiling so then get the nicest thing you can find at or below that price.

[RabidPony]

That's the thing. Cost of living is soooo much lower where we are looking, we can get a nice 3000 square foot house for less than we are paying for our current 1000 square foot apartment. Taking into account heating, cooling, lighting, etc it would probably end up about the same if maybe a smidge more. And more is fine since this would be a sizeable increase in income for her. I'm just trying to figure out how big would be good without being excessive.

[vt_maverick]

In that case you need a line item in your budget for saving/investing and/or paying off debt. Far better to let your savings goal drive your expenditures than the other way around. Obviously a 1000 sq. ft. apartment has been adequate until now so it should really be all about how much you want to save out of the excess you're about to have.

[Maddawg]

Gauge your payments on one income only, the lower income. Unless you have considerable savings to back you up in the event of a job loss you could find yourself in foreclosure.

[RabidPony]

Even though we are moving up to a house from an apartment, we will still be renting. It's likely that we will only be at the new location two or three years. My gf is pretty much being put on the path to corporate by her higher ups.

[tomdietrying]

My gf is pretty much being put on the path to corporate by her higher ups.

Well, if that's the case. First, I think you should be thinking about putting a ring on it.
Second, living should be living quarters. lol
Peace.
Tom

[RabidPony]

Believe me, I am trying. She has marriage issues but has said yes, just won't put the ring on.

[Cobrajet]

500 sq ft house, 6 car garage.

Some may think this is a joke, but a proper 2-car (or larger) garage was my priority when I was house hunting. I ended up choosing the 3-bedroom house I have over the same floor-plan down the street (on the lake) because that house had a structural post running through the middle of the garage. I have room for my VX, my Torino, my motorcycle, my lawn tractor and all my tools and parts. Just wish I had a bigger garage for my Mustang!

[Vendetta]

If you plan to purchase in a few years, then get something comfortable but not excessive. This should be pretty easy since you're coming into a single family home (assuming) from an apartment anyway. Put the difference in savings to work for you in some instrument with reliable gains, and then use the sum to augment the down payment on your new home.

Congrats on the relo. When it comes to subjective questions like this though, it's the judgement of you and the ol' lady that really counts. Good luck!

-V