Quote:
Originally Posted by gamecock43
Because I have 20% of my ideal purchase price range in the bank but am not sure I could make the monthly payments once all was said and done.
And because there are a million people out there who are going to 'help' me buy a house and make money in the process off me and I am starting to learn how much money gets spent on interest, taxes, insurance ect that renters dont pay.
And because I realize this is a long term comittment and will be officially giving up the chance to say "you know I like it here, I want to move here" when I visit Key West, Texas, or Alaska.
Also I will be starting a career in the next year and am not sure about being tied down to all the jobs in just one city.
Also because I am not handy at all and think I might spend more han the average homeowner calling people to fix things that others can do for themselves.
And I worry that I am in love with the idea of homeownership but the reality of it might get old and I will have regrets.
And I worry that I am too young/inexperienced/uneduated/poor/and I will end up making every mistake in the book, and it will be my ass moving in with my parents- in -law with maxed out creditcards. I worked very hard for this down payment/ I worked hard for excellent credit/ I worked hard to be in a position of independence and I am afraid that I will be one broken water heater away from losing it if I give in to friends telling me to buy now but not having the sense to really see if I should buy now.
Maybe now is the time for 'people' to buy, but I still have issues to resolve before I know if its the right time for 'me' to buy.
|
A sane, reasonable person (not your average American) will do their research before buying a home and know if they can afford it or not. All of your points are valid, but if you know how to take care of your finances and don't buy more house than you can afford, home ownership is not the black hole that is so often portrayed in the press these days.
Banks and realtors will (or at least used to) provide people with plenty of rope to hang themselves, but you don't have to accept the offer.
Is there a difference between your "ideal purchase price" and "what you're able to afford"? It sounds like there is, if you worry about being able to make the payments.