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I haven't updated this in a very long time. Like whoa. So here's what's happening with me. I'm trying to buy a house. I did this once before, but I had a husband at the time, which made it significantly easier. Also, the last time we were shopping in north Texas. Now I'm shopping in Westchester County, NY. Three times the amount I paid for a nice,
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I am sort of confused about why people are pushing you to buy a house if you wouldn't be able to make a down payment on something halfway decent at this point. Housing prices are totally insane around here, and I know what you're saying...I realize that it will be several years, if I make the salary I think I'll be making over the next 5 or so years, before I have enough to even consider buying something modest.
But "buying a house" doesn't mean buying *any* house to me, it means buying something that you would be happy living in and something that will be likely to go up in price in the future, something you'd be able to resell. Something that you would need to invest at least another $100k in to fix up that is located in a terrible neighborhood is not any of those. I don't see how any of these people could possibly be advocating that.
Maybe they're talking about saving up over a few years to get something that's OK?
In any case, buying a house is not the better choice for everyone, whether if it is because they truly don't have enough money to absorb the risks involved in being a homeowner, or if because they simply don't want to buy something or use their money that way. I wouldn't feel pressured to do something just because people told me to do it, especially something big like this. Or if I did choose to do it, I wouldn't just do it any old way, I'd do it the way that was comfortable to me, you know?
Sorry to hear about your car...I hope it's the battery, too, or something small....
And have a good holiday trip!
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Well, I think the big thing is taxes. Financially, I'm being gobbled alive and will continue to be until I have a mortgage. Right now, everything in Westchester, and specifically in a few places, is going to increase in value. And, there's every likelihood that if I could just get into a house, between the tax break and a few other factors, I could afford something substantially better in, say, five years. But not if I wait. If I wait, the money will slowly drain away like it always has, and the rent money will be paid for nothing, and then the opportunity will be lost.
So that's why the pressure. It's just going to take a while to find the right one and I am not blessed with much patience or a capacity for delayed gratification, as your friend will no doubt agree.
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