If this is what I wanted...why am I so nervous?

[CrazyKell]

Since I moved back from England I've been staying at my parents until I was more secure in a job and could afford to move out.

I've been toying with the idea of buying a small house but I don't feel ready financially (I've really been taking steps to get that side of things in order).

I've seen some absolute DUMPY apartments and figured the search would take quite a while.

Quite surprisingly I found a place and they have offered it to me. I accepted.

So why am I so nervous/anxious/feel as if I want to wait? :screwy:

I'm really bummed I can't buy a house right now. Well...I guess I could but it would put me in a situation financially that I don't want to be in (house poor). I don't want to be stretched too far and would like to live quite comfortably.

I just can't shake this feeling even though I loved the apartment. :idk:

[zed]

some advice I've been given before was don't do anything you are unsure about.

[Corey]

Maybe you're just in a groove and need a little bump to move forward. I think once you get into the new lace you'll find your new groove and the anxiety will pass quickly.

[Dave]

Maybe you're just in a groove and need a little bump to move forward. I think once you get into the new lace you'll find your new groove and the anxiety will pass quickly.

lace? i demand to see kell in this so called new "lace!" ;)

[Smittie61984]

Move to America and buy about $100,000 over your head and stop making payments.

I use to move pool tables into homes all day long. I've seen some house poor people and you don't want to be them.

[derf]

I nearly walked out at the closing of my house I was that nervous. If your gut says do it and you can afford it go for it.

or just mooch off your parents for as long as you can

[CrazyKell]

or just mooch off your parents for as long as you can

I'm not exactly mooching! :ps: I pay rent here too it's just less.

My parents would like me to buy but I don't think they understand how hard it is on one income.

I just know that I could afford to buy a house....but I would be left with absolutely NO savings at the end of the month.
:nono: I definitely don't want to do that. Too many of my friends are "house poor" (although not terribly so) and I just don't want to go down that road.

My company matches 9% of my 401K so I'm going to contribute my butt off and buy a house in a couple of years.

I think I'm just nervous about being on my own. :idk:

[wildchild]

many times you get the nervous feeling just from moving on. It's hard to go from a "comfort" zone into unknown territory even though you know in your mind you'll make it and it's the right decision. Alot of time the heart would rather just stay with status quo, it's the easy decision.
no one succeeds without taking a risk or going into the unknown






and if all else fails just post photos of you in the new "lace". Someone will offer up a place for you to stay. :drool:

[ericr]

I think I'm just nervous about being on my own. :idk:

You won't be all alone Kell, you've got us!!! :D

I'd say if it's a financially sound deal and you like the place, it probably is just a little case of nerves. You'll feel better once you do it I think.

[Archren]

Too many of my friends are "house poor" (although not terribly so) and I just don't want to go down that road.



Smart move. After I moved in with my mom after my dad passed away and took over ALL the house payments/household bills... on only my income, it's been very difficult. Hopefully I can pay down the debt I incurred from moving out of the ex's house once I deploy.. but for now it's like I'm just treading water. :panic: I do NOT like this one single bit, but honestly I'd rather be in debt than still be in that marriage. :lol:

[CrazyKell]

Smart move. After I moved in with my mom after my dad passed away and took over ALL the house payments/household bills... on only my income, it's been very difficult. Hopefully I can pay down the debt I incurred from moving out of the ex's house once I deploy.. but for now it's like I'm just treading water. :panic: I do NOT like this one single bit, but honestly I'd rather be in debt than still be in that marriage. :lol:

I know what you mean!

Everyone is pressuring me to buy but I just don't feel ready. I have NO savings so if I lost my job or something else happened I'd have to rely on my parents. I just don't want to do that. :idk: I want a sizeable chunk of money in the bank before I even consider buying a house.

Sure I'd rather pay a mortgage than rent but not if it means I'm putting myself in a worse situation financially.

I've entertained the idea of asking my parents if they wanted to split a house with me, but I just don't know how they'd take to that idea. :idk:

[Papa_Complex]

Sounds fairly normal to me. The two most stressful 'normal' activities that you can do in life are change/lose you job and move.

[askmrjesus]

some advice I've been given before was don't do anything you are unsure about.

Sorry, but that's really crappy advice.

If you're sure of everything you do, you'll never do much, or you're a damn fool.

In other words, go big or stay home.

JC

[Librarian]

Sorry, but that's really crappy advice.

If you're sure of everything you do, you'll never do much, or you're a damn fool.

In other words, go big or stay home.

JC

What AMJ is trying to say Kell, has been said by others before:

Life is made up of a series of judgments on insufficient data, and if we waited to run down all our doubts, it would flow past us. -- Learned Hand

Party like it's 1999. -- The Purple One :rockwoot:

[CrazyKell]

Well after weighing all the options I decided to decline this apartment.

The anxiety I was feeling wasn't merely because I was afraid of moving forward (so not an issue for me) but because something just didn't feel right. I am confident that something will feel right soon in the housing department.

My original plan was a move-in date of June 1st. I'm going to stick to the plan!

[Particle Man]

lease = commitment = fear ;)

[wildchild]

guess this means no pics of new "lace" huh? rats.

probably a good choice. the gut-o-meter is often right if it's mroe3 then just the normal jitters.

[Apoc]

Im looking at homes too kell. Im sure their a fair bit cheaper here, i can get a fairly new, 3 bedroom, 2 door garaged home here for 100k. But the thought of owning a house is hella scary! lol.

[HokieDNA01]

I wouldn't purchase a house till you have 10-20% of a down-payment. That is why the market in the US is so bad now (low rate interest loans too). People put nothing down then when the housing market fell, they owe more than the house is worth. I think it is worth it to wait till you have some savings to put down. And remember, home ownership is more expensive than what you put down on paper. When something breaks, its on you...and stuff always breaks.

[cbrchick]

Im looking at homes too kell. Im sure their a fair bit cheaper here, i can get a fairly new, 3 bedroom, 2 door garaged home here for 100k. But the thought of owning a house is hella scary! lol.


I'd jump on that in a heart beat. Going to look again at a 75 year old house for 329....

[Cutty72]

I'd jump on that in a heart beat. Going to look again at a 75 year old house for 329....

My place
Built 1978
3 bed 1 3/4 bath
Rambler, 1200 sq ft per floor
Finished basement
Almost 1 acre lot
Oversize 2 stall detached garage next to house
1 stall garage in the back yard

$126,000 :rockout:

And the garages are full too :panic:

Granted, had I bought a house in the "big city" of Fargo, same thing would have cost me over $200.

[Homeslice]

I wouldn't buy unless you have a job that could keep you happy for at least 3-4 years, and that you could easily replace within the same city if you got laid off.

[Cutty72]

I wouldn't buy unless you have a job that could keep you happy for at least 3-4 years, and that you could easily replace within the same city if you got laid off.

Very true.

I got laid off less than a year after buying. Had an available job in another town, but no way could I afford to sell.
Lucky for the guard to give me full time employment here! :dthumb:

[racedoll]

I was always told, "if in doubt, don't do it".

Owning a home is a lot more than most people think. Here you have property tax, the upkeep of the lawn (buying a tractor/mower), etc.

I forget the exact rule of thumb but it's something like 6 months worth of mortage payments in savings as a backup if it's needed.

Good Luck in your search.

[CrazyKell]

Well I found another apartment and I feel SO much better about it. This is what it's supposed to feel like!

As of May 1st I will be in a one bedroom upper apartment of a century home! :)

[Particle Man]

Well I found another apartment and I feel SO much better about it. This is what it's supposed to feel like!

As of May 1st I will be in a one bedroom upper apartment of a century home! :)

sweet, first a party at Tommy's place and then a party at yours.

:lol:

good for you.

[OTB]

Just to muddy the waters a bit:

http://www.mtgitright.com/qs/page/8338/7762/-1

"For years, Canadians have envied those lucky Americans: they have tax-deductible mortgages. But a growing number of smart Canadian homeowners have figured out that they can have tax-deductible mortgages too. In fact, savvy financial advisors have been designing tax-deductible mortgages for their clients for years.

Essentially you restructure your mortgage to do three things: save on your interest dollars; pay down your mortgage debt more quickly, and build a handsome retirement portfolio along the way; all without increasing your total debt load. It's a different way to look at a mortgage, one that makes Canadian tax laws work for you. You see, Canadian tax laws allow the deduction of interest on loans made for qualified investment purposes. With careful planning, you can convert your non-deductible mortgage debt into tax-deductible investment debt."

Another alternative is to purchase a home with the express purpose of renting a portion of it out. As all economic situations are local, you would need to see what kind of properties rent easily and what kind of vacancy rates you can expect, and then plan accordingly and see if the numbers make sense. Here in the states it's an easy financial decision with the deductabitity of interest and real property taxes, but Canada is a different ketttle of fish.

Sit down and talk to an inverstment advisor and see what you need to know in order to run numbers that make real sense.

[racedoll]

Congrats Kelly! Sounds like you found a good place... and the right one.