Monday, March 1, 2010

You DO realize that the house crushed the wicked witch of the east, don't you?

Thought I should get on here and write a quick update since I haven't posted in so long. I've had a few blogs I meant to write but never got around to doing. The main thing that has been going on with us is that Stace-Ghost and I have decided to buy a house. We found out today that we don't qualify for First-Time Home Buyers which means we have to put at least 3.5% down, which isn't much but it is when you have no furniture or appliances. I also had a mini-meltdown today when I was going over our finances, as if we were paying the mortgage, and realized that after everything was paid, there really wasn't anything left. This bothers me because I've always been a person who needed some money to play with, not a huge amount, just enough to go out to eat on weekends, see a movie, or buy a CD. It will be a difficult adjustment. I really just hate how expensive it is to live these days. Apparently we make too much money to qualify for First-Time Home Buyer's but not enough to have any money left after we pay for all of our bills and needs. How does that make sense? I'm really wondering if it is the right time for us to buy a house or if we should wait. I'm not comfortable with buying a house when I'm not even in a career because what if something else came along in another state? But, at the same time, I don't want to sign a 1-year lease to an apartment to just buy a house after the year is up; a total waste of money. I don't know what I should do. I just hope I do when it is time to decide.


Delirious said...

I understand the anxiety about the commitment of buying a house. When we bought this house 14 years ago, I didn't see how we could afford the house payments. Looking back I think I was silly because we couldn't possibly have rented as cheaply as living in this house. But at the time, it felt like a lot. I remember distinctly the loan officer making a statement about how he wanted us to be able to eat out once in awhile. I wonder if you could get a short sale. That would sure help with the payments!

Amber said...

well here's my two cents, if you don't have any money left after paying your mortgage you're either looking at houses that are too expensive or you shouldn't be buying, because I got news for you if the value of your house goes up so will your property taxes, and so will your mortgage, and then you'll be in a world of trouble. I also agree with you about the career thing, I think the same thing, that maybe you'll be able to find a career outside of the state. One last thing, I never think paying rent is a waste of money, I think of all the money and time I'm saving not having to worry about the upkeep of a house, because when something breaks you'll be the one that has to pay to fix it, instead of the apt complex. It wouldn't be a big deal at all to rent an apartment for awhile, everybody does it in their life, it's the natural process before owning a house. It's good practice for owning a house too.

Nene said...

I know it's hard to think about renting, but I do agree with Amber. If you don't want to go down in the price of the house you're looking at, then you might need to go look at apartments. You might also see that maybe putting more down on the house might lower your payments. Don't worry about furniture - you can get that cheap enough from garage sales, Goodwill, and family.