?

Log in

No account? Create an account
Roy Janik [entries|archive|friends|userinfo]
Roy Janik

[ website | Parallelogramophonograph ]
[ userinfo | livejournal userinfo ]
[ archive | journal archive ]

house, schmouse [Dec. 11th, 2001|03:04 pm]
Roy Janik
So we (my realtor and I) made the offer on the big, nice house (157,000 plus the sellers contribute 4000 to closing costs). Vague feelings of unease had already started, but as soon as we made the offer, I started getting a horrible sense of anxiety. I couldn't remember why I wanted a house at all. Knowing I wasn't going to sleep for awhile, I went back to work and stayed until about 3:30 in the morning. Got a counter-offer today (158,900 plus the 4000 for closing costs), as my heart started racing and getting all fucked up. So I talked to my realtor about backing out. He was nice as always, and talked with me about frankly about interest rates and my fears and such, and helped to separate emotion from finances. My biggest point of anxiety is that I'm not putting anything down as a downpayment. To me, that sucks. So we worked out a way, with the 4000 they're fronting for closing, for me to put down 5%. We're going to get my mortgage guy to run some new numbers using these latest figures, but honestly I think I just want out of this whole mess. At this moment I have no desire for a house.
LinkReply

Comments:
[User Picture]From: cailin23
2001-12-11 01:31 pm (UTC)
Don't you have some sort of xmas bonus to use as a downpayment?
(Reply) (Thread)
[User Picture]From: zinereem
2001-12-11 01:39 pm (UTC)

Re:

Nah, bonuses don't come until March. And payraises and such come in May. As do promotions, for that matter.

So I save what I can until then, and then re-assess my situation. That's one possible scenario, anyhow.
(Reply) (Parent) (Thread)
[User Picture]From: cailin23
2001-12-11 01:50 pm (UTC)
...of course that house will surely be gone by then. But maybe a better one would be available? Or the desire for a house will be all but gone? I know how debt makes you feel, Roy. As great as this house sounds, I can only imagine you feeling suffocated under the strain of all that money you owe.

But what do I know?
(Reply) (Parent) (Thread)
[User Picture]From: zinereem
2001-12-11 02:00 pm (UTC)
Indeed. It's silly, because there's a severe difference between credit card debt and house debt. In fact, buying a house in Austin is almost certainly a good investment. Maybe a great one. but still. God. My back gets in knots just thinking about it.
(Reply) (Parent) (Thread)
[User Picture]From: nekomouser
2001-12-11 02:23 pm (UTC)
Motley Fool: Not all debt is bad
(Reply) (Parent) (Thread)
[User Picture]From: zinereem
2001-12-11 02:30 pm (UTC)

Re:

Right, Right. I just read that article, like 30 minutes ago, to remind myself of this fact.
(Reply) (Parent) (Thread)
[User Picture]From: swordfish
2001-12-11 05:13 pm (UTC)
Cry me a river.



sorry, i had to.
(Reply) (Thread)
[User Picture]From: zinereem
2001-12-11 08:59 pm (UTC)
Good point. This is nothing compared to real suffering.
(Reply) (Parent) (Thread)
[User Picture]From: moregankira
2001-12-12 07:44 am (UTC)
Let me know how this all turns out Roy. I too am thinking of buying a house this summer. I am scared beyond anything I have ever known.
(Reply) (Parent) (Thread)
[User Picture]From: zeitgeist
2001-12-12 03:12 pm (UTC)
I know this has occurred to you, but I'll remind you:
Think about the difference in what you're doing with your money. Paying for a house will get you, in several years, a house. Paying rent, which I imagine will only be slightly cheaper than a house, will get you, in several years, jack shit.

<shrug> It's easy to make decisions with other people's money, but I understand your hesitation. The important thing to do is to figure out if you *really* can afford it comfortably, and still have enough money to enjoy life the way you want to. It shouldn't be terribly hard to figure that out. Also, don't necessarily trust what the realtor tells you. His job is to sell houses. You should talk to some older adult(s) who you trust - your mom? dad? Tom? - someone who's done this before, and get their perspective.

Finally, the point that will sound stupid: It really, honestly, helps to lay out a budget. Tamara and I started one in October, and it's amazing.. once we wrote down what we were spending money on (embarrassing sometimes), a lot of the waste stopped and cash seems to be appearing from nowhere. heh.
(Reply) (Thread)
[User Picture]From: zinereem
2001-12-12 04:36 pm (UTC)
Ah, well, that's the thing. Right now, my rent is 295 plus 1/4 of the utilities, and I like all my roommates. My house would have run me 1469 a month. So it's nothing to sneeze at.
(Reply) (Parent) (Thread)