SRS Okay to be Scared about owning a home....

Discussion in 'On Topic' started by the slowness, Jul 16, 2005.

  1. the slowness

    the slowness OT Supporter

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    Well I'm going to be closing on my home on 072105...Is it normal to not feel happy/kinda getting cold feet:o:hsd:.I've wanted to get into a house for some time,but now that it's going to happen, I feel a bit scared:o....It just seems like a whole lot of money for a house:hs:.Well homeowners let me know if i'm crazy or if this is normal.Feel free to share your experiences:x:
     
  2. AmCo

    AmCo Haters goin' Hate

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    I'm not a homeowner yet but are you buying the house yourself? or married? I'm pretty sure with such a large purchase you will experience cold feet. Its like opening a new door in life for many people (getting married, settled, etc).
     
  3. the slowness

    the slowness OT Supporter

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    No i'm not married(only 21:hs: ).Well I'm buying the house by myself.I'm going to be
    able to afford it on the salary I make.It's just when I saw how much in interest I
    was going to be paying:eek4: I wanted to stab myself:o.Only cool thing about
    getting the house is that alot of women really like a guy with his own house:naughtyd:
     
  4. beanolo

    beanolo It does a body good!!!1

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    Just be sure about your reasons for buying the house is not for the women ;)
     
  5. the slowness

    the slowness OT Supporter

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    Mos def it's not for the women...I'm getting a house b/c I want to be on my own.(currently living w/the rents:o)
     
  6. AmCo

    AmCo Haters goin' Hate

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    I would love a house but i don't know where im going to stay in the next few years :)
     
  7. beanolo

    beanolo It does a body good!!!1

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    Same here. Also don't think im ready to spend half a mil on a 1 bedroom apartment. :big grin:
     
  8. the slowness

    the slowness OT Supporter

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    both of you need to move to texas....150k will get you a pretty nice 4/2/2 home:cool:
     
  9. ItchyDog

    ItchyDog Guest

    Its a big investment, its normal to be scared. ;)
     
  10. Darketernal

    Darketernal Watch: Aria The Origination =)

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    Congratulations on your new home :) You have my blessing. :wavey:
     
  11. JordanClarkson

    JordanClarkson OT Supporter

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    It's really great to have your own home. Don't be afraid of it
     
  12. Vay

    Vay New Member

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    Well I have to say congrats to getting a new house and at only being 21. It is a really big step to getting a house, but I say it is well worth it. Also I can get a nice 2 bathroom, 3 bedroom house for $112,000.00 where I live ;).

    Anyways let us know how everything goes!
     
  13. punkerjim

    punkerjim Guest

    owning a home is the best thing you can do for yourself

    i've been a homeowner for 3 years now and it's great... except the constant home remodeling that I've got to do about every other weekend.
     
  14. beanolo

    beanolo It does a body good!!!1

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    :rofl: I don't think even the projects have houses for 150k here.. :big grin: lucky bastid ;)
     
  15. Toasty

    Toasty Naked people have little or no influence on societ

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    $115k won't even get you a glance here in Hawaii either. You suckers better not complain. :nono:
     
  16. the slowness

    the slowness OT Supporter

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    I've thought about moving to Wisconsin(inter office transfer).I'v heard that Madison is a nice city,but I couldn't deal with the winters up North.That was an awesome price you got there.
     
  17. johan

    johan Active Member

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    Home ownership is a pretty big step, it's the largest thing any of us will purchase (usually). Well, whatever you're buying is already a done deal by now since you've only got 3 days till closing. But just be cautious of being "house poor" where you sink so much of your money into the monthly mortgage, you can't do anything else.

    I know some people who have a simply superb house, but now can't afford to go out anymore because all of their money goes to service the mortgage. Just something to be cautious of.
     
  18. RyeBread

    RyeBread If you tell the truth you don't have to remember a

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    if you are scared of paying all that interest over the life of the loan - simple solution. pay extra principal on each monthly payment. Get a raise? sink 1/2 of the raise into the extra principal, and the other 1/2 into your 401(k) plan or other investment.

    while you're not married, and don't have kids, get crazy with trying to put yourself into a position of serious equity. My wife's grandfather paid off his 15 year mortgage on his first house in 6 years. This was in the 50s...

    few of us are really able to make more money off of investments that we pay in mortgage interest - especially after capital gains and other income taxes. Our nation is also way too heavily a "borrower" nation these days - buck the trend, don't be a sheep - go for equity :)
     
  19. the slowness

    the slowness OT Supporter

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    Thanks for the info.I actually took a homeownership kind of course and that was
    one of our main focus pay extra principal if can afford it.So that is my plan.:)
     
  20. the slowness

    the slowness OT Supporter

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    Yes I'm going to make sure that I do not blow to much money on the house.Good thing is that it was just remodeled,but I still have a itch to put some nice ceramic tile or hardwood flooring:hs:.well only three more days:x:
     
  21. copperkali

    copperkali Mrs. Nicklk

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    Yes, I was scared shitless going into closing...I think I had an anxiety attack.
     
  22. KatWoman

    KatWoman •••••••••••

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    Congrats on becoming a homeowner, one of the biggest steps into the real world :big grin: Yes it is normal to be happy/scared/feel weird all at once...it's a large commitment, and not one to be taken lightly. Make your payments on time, stick to a budget, and live only WITHIN your means and you will do well.

    I bought our first house 2 years ago, a few months before I got married...it was easy because at the time I bought it from my mother, so of course all I had to do was go to the bank and ask for the loan. It was smooth sailing, but I knew next time would not be as easy.

    The past 2 months my husband and I had our first experience of selling the house and buying a new one. The AZ market is crazy right now and you literally need to sell your house first and then go shopping for a new one while you are in escrow, and pray that your next house closes in time so you can move in as soon as the deal closes on the house you are leaving. It's been frsutrating/crazy/exciting all at once.

    Last month, a woman made an offer that worked for us and we accepted. She was living in a month-to-month lease place and her lease is up at the end of this month. She wanted to close on the 12th of this month, but agreed to let us stay here til the 29th...so our house (the one we sold) closed last week and we will now just pay her a daily rental rate til we leave this house. Our new house closes on the 27th, next week :noes: and if we can get the keys early enough in the day start moving that same day :)


    Oh, I also just found out from our agent that the lady buying our house has EIGHT kids :eek4: The neighborhood will be hoppin' for sure!
     
  23. the slowness

    the slowness OT Supporter

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    Damn:mad::hsd: closing got pushed till next week!!
     
  24. KatWoman

    KatWoman •••••••••••

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    Here's how my day has been so far :Ownedd: :

    My house (the one we sold) closed last week. Friday the profit $$ was supposed to be wired to my account. As of this morning it still wasn't. Called the title company, they forgot :mad: They told me they would have it in by 2pm, it got there at noon.

    Ok now for the new house, (which is scheduled to close a week from today)

    Two weeks ago I hand-delivered a check to the appraiser, because he was adamant about having money in hand before doing the appraisal (which seems to be the norm here). He told me it would be done that following Monday (it was a Friday I paid him). That didn't happen. Last week he told our agent that the sellers weren't being cooperative about letting him get there to do the appraisal. I don't believe it because they've been very accomodating to every other request our side has made. So today he calls our agent and says he doesn't want to work with the comps they provided him. He said he'd probably appraise it at a price that was $20K below what we offered the buyers anyway :ugh: The asshole never even went to the property. So our realtors scrambled to find someone else who could do it today. Fortunately this person was gracious enough to schedule the appraisal for today, but won't release the info til he has a check...so I am sending one out certified mail to him and it should get there tomorrow. And yes, the assface appraiser (1st one) will be sending us a refund.

    And now even more fun...I checked my huband's and my credit reports online last night, and noticed an address showing up that wasn't ours. It was an address of a home ON THE OTHER SIDE OF OUR BLOCK and we were like :eek3: :wtf: So my husband happens to mention it to the guy taking care of our home loan. He was like :hsugh: Well it turns out HE flubbed up entering our address, and the reason he found that out was the people living there received our loan papers :rant: Fortuntately they were honest enough to NOT open the mail and they turned it in to the bank we are working with. So my hubby told him he needs to get his crap straight....at least it wasn;t a case of someone stealing our identity....hopefully these people don't get any more mail in our name at their house.

    SO yeah, one week to close and everything seems to be getting farked up....but the last big thing is hoping the house appraises for what we are paying. A coworker told me that it might be a hint that we are paying too much, but on the other hand she tried twice to refinance her house and her bank's appraiser BOTH TIMES appraised her for $30K below market value. People are assholes sometimes :madfawk:

    So as long as your home has appraised and your finances are in good order, you should be good to go :big grin:
     
  25. the slowness

    the slowness OT Supporter

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    God I thought I had it rough:o....Buying a house the biggest pain the ass ever.To many damn people are involved:mad:
     

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