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Newly1
I love my baby boy!
Member since 6/08 2804 total posts
Name: H
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i feel SO sick to my stomach regarding going into contract...
did anyone else feel this way??
DH is getting so frustrated with me, and we keep arguing b/c i'm not 100% "with him" on this...i can't help but be nervous...i mean, i love the house but we got it at the max of our budget and there are repairs we need to do that we were unable to negotiate with the seller on....
on top of that....we just found our we are expecting, and we have that added financial strain. If it wasnt for then i would feel totally fine financially, knowing what we would have leftover after the mortgage and bills (we already made a spreadsheet of everything)...but now we have to pay for daycare as well. our monthly savings will be stripped!
Dh keeps telling me we will make it work...but do you really think that is true?? i mean, once the baby starts daycare, we will have maybe $500 at the end of each month after all our bills/expenses. I know we will both be getting raises, and i can easily work extra and make real good money if we need to. (although i'd rather not have to...) currently i am pulling in an extra 2K a month and only working an average of 5-6 hours extra a week, i just don't know if i can/or want to keep up with that once the baby is born.....
any words of enlightenment?? we love the house, the location is perfect for us!
Message edited 3/22/2009 6:04:25 PM.
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Posted 3/22/09 5:41 PM |
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Prudential Douglas Elliman Real Estate
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Tabitha
Member since 2/07 2029 total posts
Name:
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Re: i feel SO sick to my stomach regarding going into contract...
congrats on the !!!
i would suggest sitting down with DH and asking him to lay out the new projected expenses on a spreadsheet. maybe seeing the hard numbers will help you feel at ease. if the numbers do NOT work out, maybe you can discuss alt options
i hope the house works out for you, esp since you seem really excited about it!!
Message edited 3/22/2009 5:45:49 PM.
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Posted 3/22/09 5:45 PM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name: Mommy
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Re: i feel SO sick to my stomach regarding going into contract...
It is tough. When we bought our house we knew we could afford it and have money in the bank as long as I continued to work. Four months later we got pregnant.
Now there is not a day that goes by that I don't regret buying this house. I love my house but I would much rather have a smaller cheaper house and be able to stay home with my daughter. If we could I'd sell it tomorrow.
I saw your post on parenting and between daycare, formula, diapers, and such we are at our max financially.
Could you find a cheaper house? I know you said that it is at the top of your limit. $500 a month left over doesn't leave a lot of room for emergencies...and with a house and baby there are always emergencies!
Good Luck with your decision
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Posted 3/22/09 6:15 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name: Me
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Re: i feel SO sick to my stomach regarding going into contract...
honestly, i'd be a little too nervous, but i am very fiscally conservative. what if the cesspool goes, or you need to replace the heating system...we bought a house that we could afford on one salary alone, though we both plan on working when arrives in june. i'd feel more comfortable with a smaller, cheaper house, and less stress over finances should something happen to the house or cars.
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Posted 3/22/09 6:43 PM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name: Jackie
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Re: i feel SO sick to my stomach regarding going into contract...
Don't worry . It sounds like you have a good head on your shoulders, and you know your finances. Also it seems like if money gets tight you can make extra money somehow so you will not be left broke with nothing.
Congrats on the house and baby
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Posted 3/22/09 7:02 PM |
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pandaworm
LIF Adult
Member since 8/08 1125 total posts
Name: bethany
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Re: i feel SO sick to my stomach regarding going into contract...
i know how you feel. dh and i just paid off a LARGE part of my student loans, and while i logically knew it was the best choice for us, i couldn't help but panic seeing our savings depleted like that (we still have a lot, just not as much). i kept thinking "what if something happens, what about the baby?" we eventually had a long talk where he just let me talk out all of my fears and weigh the pros and cons so i could see that we really were making the best choice. i really think it's just the motherly protective instincts kicking in early.
try making a list of pros and cons (as cliche as that sounds) so you can physically see it. that should help you become more comfortable with your decision, whatever it may be.
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Posted 3/22/09 7:12 PM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: i feel SO sick to my stomach regarding going into contract...
We actually just went through the exact same situation (except DS is 17 mos old). I had major cold feet anyway and then we found big ticket repairs that needed to be done. We decided in this housing market that there was no reason why we should pay for them and it wound up that the buyer took another offer because we wouldnt back down. I feel like a 10 ton weight was lifted off my shoulders and am chalking it up to a huge learning experience but we're very happy we didnt go through with it...
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Posted 3/22/09 8:26 PM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name: j
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Re: i feel SO sick to my stomach regarding going into contract...
You really need to crunch your numbers again. When it comes to owning a home, something ALWAYS comes up. If you DH is handy...great, that will help. When we bought last year, we purposely bought a less expensive house (that needs updating) because we knew we would have daycare expenses. But we still struggle sometimes...so if we would have bought at the top of our budget, we would have been in big trouble.
There are so many things that have come up that I didn't factor in. You really need to leave yourself a good cushion each month or you'll end up working OT for extra $$$ or using credit cards to make up the difference.
Good luck!
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Posted 3/22/09 9:31 PM |
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