WE found a house we love tonight

I just don't know if we are ready...Are you ever really ready???

Re: WE found a house we love tonight

Mentally ready or financially ready?

It is scary but if you have carefully thought this out, and can do it financially (and mentally), the rest of the unexpected stuff will fall into place.

I feel owning a home is one of the best things in the world. Let us know what happens, good luck if you go ahead with a bid!

Message edited 10/3/2007 8:01:04 PM.

Re: WE found a house we love tonight

Thats great Kathleen!! How do you mean ready - do you mean financially? If you don't think you are financially ready, then its not a good time. But if you are just nervous about making the transition from apartment to house - then yes its a scary thing to become homeowner, but very exciting too!!

Re: WE found a house we love tonight

Re: WE found a house we love tonight

Re: WE found a house we love tonight

if ur a planner like me u probably freaked out like i did crying saying we're not ready....if u worked out ur budget and u know u have some leftover money after paying all ur monthly bills (of course including ur mortgage) then u really are ...ur just scared out of ur mind like i was (and still partially am )

good luck

Re: WE found a house we love tonight

Re: WE found a house we love tonight

Posted by JenandMikey

if ur a planner like me u probably freaked out like i did crying saying we're not ready....if u worked out ur budget and u know u have some leftover money after paying all ur monthly bills (of course including ur mortgage) then u really are ...ur just scared out of ur mind like i was (and still partially am )

good luck

Re: WE found a house we love tonight

we didnt think we were ready we planned and budgeted and it was close but we are doing it and we are totally fine

Re: WE found a house we love tonight

Posted by beautyq115

Posted by JenandMikey

if ur a planner like me u probably freaked out like i did crying saying we're not ready....if u worked out ur budget and u know u have some leftover money after paying all ur monthly bills (of course including ur mortgage) then u really are ...ur just scared out of ur mind like i was (and still partially am )

good luck

Did you buy recently???

Re: WE found a house we love tonight

Posted by JenandMikey

Posted by beautyq115

Posted by JenandMikey

if ur a planner like me u probably freaked out like i did crying saying we're not ready....if u worked out ur budget and u know u have some leftover money after paying all ur monthly bills (of course including ur mortgage) then u really are ...ur just scared out of ur mind like i was (and still partially am )

good luck

Did you buy recently???

we r in the process right now....in contract as we speak and going to closing hopefully november 15th

Re: WE found a house we love tonight

Posted by beautyq115

Posted by JenandMikey

Posted by beautyq115

Posted by JenandMikey

if ur a planner like me u probably freaked out like i did crying saying we're not ready....if u worked out ur budget and u know u have some leftover money after paying all ur monthly bills (of course including ur mortgage) then u really are ...ur just scared out of ur mind like i was (and still partially am )

good luck

Did you buy recently???

we r in the process right now....in contract as we speak and going to closing hopefully november 15th

And when did you find the house??

Re: WE found a house we love tonight

Posted by JenandMikey

Posted by beautyq115

Posted by JenandMikey

Posted by beautyq115

Posted by JenandMikey

if ur a planner like me u probably freaked out like i did crying saying we're not ready....if u worked out ur budget and u know u have some leftover money after paying all ur monthly bills (of course including ur mortgage) then u really are ...ur just scared out of ur mind like i was (and still partially am )

good luck

Did you buy recently???

we r in the process right now....in contract as we speak and going to closing hopefully november 15th

And when did you find the house??

found in july...bid on it in july....got rejected in july waited until we found another house we were gonna bid on at the end of august and called the ra to put in our final bid so we would have "closure" and they accepted it to our surprise....went to contract at the end of sept

Re: WE found a house we love tonight

Posted by beautyq115

found in july...bid on it in july....got rejected in july waited until we found another house we were gonna bid on at the end of august and called the ra to put in our final bid so we would have "closure" and they accepted it to our surprise....went to contract at the end of sept

Re: WE found a house we love tonight

Sorry, I am editing challenged. Read the next post.

Message edited 10/3/2007 8:46:41 PM.

Re: WE found a house we love tonight

Posted by MrsMadness

With such a large investment, unless I was a millionaire I don't think I ever would have felt "ready." However, we made sure that our finances allowed us to buy the house while not wiping us out. And honestly, when we bought the house, I thought we'd be living very frugally and that we wouldn't be able to furnish right away, fix the house, etc. However, everything worked out and we were able to do many of the things we thought would have to wait. We've been in the house a year and a half, and I don't regret it at all.

Good luck with your decisions!

Re: WE found a house we love tonight

I think that what you are feeling is totally normal. Even after all of my budgeting, I still did not feel "ready". I called my parents up hysterically crying and my dad said the best thing: What is the worst that can happen? You sell it! It is so true... it is a very big committment and you may never feel ready, but if you planned correctly then go for it! Good luck!

Re: WE found a house we love tonight

I don't think you're ever ready! It is very scary going from an apartment to a house. We are basically tripling our rent. We made sure to buy a house though that was way less than what our bank pre-approved us for, and we just closed last week. We will be able to make our mortgage with no problems, and we will have money left over at the end of the month.

Re: WE found a house we love tonight

I feel your pain!

I questioned this 100X "Are we ready", "Maybe Wait" etc..., but I can tell you that there will never be that perfect time to buy a house. You might be in a situation where you have to and that is a different story, but I think it is something that you just need to tell yourself you want to do it.

If you are financially ready, that is the most important thing. Finding the "Perfect" house might never happen, but you will learn what is important to you when looking for a house, what you can live with and what you can't live without.

Best of luck to you.

Message edited 10/4/2007 8:52:25 AM.

Re: WE found a house we love tonight

Well, as difficult as it is to do, put your feelings about being financially ready aside and look at the numbers.

ARE you REALLY financially ready? You need to have your downpayment + closing costs (3-5% of the purchase price) in cash, plus some left over for unexpected expenses, moving, etc.

Can you afford your monthly mortgage payments, taxes, and insurance? Can you afford the higher utility bills? Can you afford to do any repairs that may be necessary?

While homeownership is generally great, it's not great if you're not in the right financial position. Crunch the numbers over and over and then decide if you're financially ready. If you're not, another place will come along when you've saved enough.

Good luck! It's very scary even when you are ready -- just make sure you're ready!