scared to be a homeowner?

Are there any other soon to be home owner's that are scared out of their minds? My husband and I have analyzed our monthly budget over and over again so as to make sure we don't take on a mortgage that is to much for us. But now that we have signed a contract for our future home I am feeling a lot of anxiety. This is a normal reaction, right?

Re: scared to be a homeowner?

I think so

Re: scared to be a homeowner?

totally normal... its bound to be the biggest purchase you'll ever make... so its only natural to feel that way... we didnt know if we'd be able to swing the paymentsd plus all the bills, but we're doing just fine... you have to trust that you've done your calculations and are a-okay with the payment... and i wouldnt worry TOO much bc there is always something to cut back on if you do find yourself in a little trouble... you'll watch your spending more, etc

Re: scared to be a homeowner?

i am totally freaking out!! on paper we can make it work financially, but i'm afraid about what is REALLY going to happen each month! i don't want to stop living our lives, though i know we can't do or get everything we want when we want it like we sometimes do now! plus add babies on top of that!

somehow everyone makes it work, so think positive!!

Re: scared to be a homeowner?

Totally normal! I was terrified—like no sleep, night sweats, hyperventilating—kind of terrified.

We've owned the house for 14 months now, been living here for about ten months and we're totally fine. In fact, we pay a few hundred extra on our principle every month.

I love coming home to my house.

Good luck.

Re: scared to be a homeowner?

I'm a new home owner
closed 6/29 - moved in about 2 weeks ago. I know we can afford the payments but we are starting to run out of money to fix things, and every week so far there has been something to fix

Re: scared to be a homeowner?

umm...yes. I am extremely scared.

Re: scared to be a homeowner?

totally normal, I found it to be very nerve wracking. And to be honest, after you close things will come up that you didn't anticipate that will continue to stress you out. BUT in the end it was all worth it. I love having this place to call my own, flaws and all! Good luck!

Re: scared to be a homeowner?

Totally normal! It's a very stressful period and lots of emotions involved aside from just money. Good luck!

Re: scared to be a homeowner?

its 100% normal. I don't know how anyone can make the biggest purchase of their life and not be nervous about money.
we just did what was most comfortable for us. we bought the house based on Dh's salary only, even though they took mine into account, and qualified us for it, we didn't spend as much as they told us we could.

Re: scared to be a homeowner?

I think I calculate what we bring home vs. our soon to be expenses as homeowner's every day (I just did) and every day the numbers reflect that we can comfortably afford our home, but for some reason I can't shake the OMG feelings. I think it's natural to be a little apprehensive--I've never spent this much money. I HATE spending money. There are so many expenses that I have no clue about incurring, yet we're sure to have them. DH and I are such savers, and yet here we are about to submit ourselves into total debt...





But it's totally worth it!

Re: scared to be a homeowner?

I think it's natural to be nervous and scared and worried. I also think everyone should be a little bit when going through this process. Look at all the people who didn't and are now short selling or foreclosing!

Don't rely on what the bank says you can afford-even in this day and age of the banks being much more conservative.

Figure your expenses and always round up!

I'll bet your gonna be just fine, and as soon as you close you're going to feel great!

Re: scared to be a homeowner?

Totally normal!

After a few months, you'll get into a groove with what to expect of your monthly expenses and feel more comfortable.

Re: scared to be a homeowner?

i can't tell you the amount of times i went over the #s.....i was so excited about getting a house but also really nervous....i lost a lot of sleep over it

i think it's normal...it's a huge commitment, this market makes it a little scary (i am in FL so i worry about decline still) and my DH and i relocated, so we had a lot to worry about besides our finances...i had to leave my job, DH transferred his, we had to leave friends and family - all that on top of "can we do this financially" it was scary stuff...but we did it!

you will be fine, everyone goes through it, i think you'd be crazy NOT to be scared as a first time buyer...but if you've worked it out on paper you will be ok

Re: scared to be a homeowner?

Thanks ladies...its nice to know that others have gone through it as well. DH and I have been used to always being able to buy what we want when we want it..or go on vacation once or twice a year.

I know that we are going to have to cut back on that kind of stuff. I'm glad to hear its normal to be nervous..but i'm still feeling nausous! LOL

We just had the house appraised today..won't hear the results til Friday so that is causing me some stress as well...

Thanks again!

Re: scared to be a homeowner?

It's totally normal. I was near panic attacks prior to purchasing our home last year. It's a LOT of money to invest and it is very scary. And a lot of the time, it doesn't seem to work out on paper....but the fact is you know how much you take in from your salaries and by now, you're mortgate broker should have given you an idea how much your monthly payment will be. Add in misc bills and you're going to be ok.

Re: scared to be a homeowner?

Message edited 11/27/2011 1:48:11 PM.