That's right, you heard me.
I am HOUSE HUNGRY.
My coworker debates buying Jazz tickets or putting that money into his house fund.
Another coworker just bought a brand new custom home.
My blind date last night is in the market. He was looking at townhouses but now realizes he wants a yard.
I mean, I really want a house.
But how do I do it???
The recently mortgaged coworker and I were talking about home buying. She said that with an FHA loan, first-time home buyers really don't need to put anything down. And with good credit (or "excellent," in my case), your monthly payments really wouldn't change too much regardless of how much you put down.
This is good news for me.
But then there's tax. And insurance.
And what about roommates?
Ideally I would get into a situation in which I would not need a roommate to help pay my mortgage. I don't want them dirtying up my house. But! Let's say I wanted one. Or it turns out I did need one for the money. How choosy could I be? Wouldn't I have to learn about landlord laws and all that stuff?
I don't know.
I just want a house.
One with lots of light and counter-space. And room for a vegetable garden.
Any advice?
5 comments:
I want a house so badly. I love going on KSL and looking. My brother says that's when spending money really starts, so as long as you buy either a newer one or are prepared for repairs, and you plan on staying here a while, go for it!
I'm with you though. I want one sooooo bad. It's ridiculous how much we waste on rent. Plus I want a puppy.
Be patient, decide what you want (and how much you're willing to pay for it), save as much as you can and don't settle for anything less.
P.S. Start doing hand exercises for all the papers you will have to sign.
I can seriously talk to my parents about you. ...They help a lot of people our age into houses, and my step-dad is SOOOO good about getting people really good deals and helping them out (cause it's your first home). Just let me know :)
I know exactly how you feel! It would be really, really hard to live anywhere but in a house. With a yard.
My suggestion is to save money right now. You don't want to purchase a home w/ no money down. That's A LOT of debt! Houses tie one down to an area.
So save save save for now. Learn all you can about houses, & buying them.
The day will come. :)
I am only 25, single and I bought a house. I was sick of paying rent each month to someone and getting nothing out of it.
My house is really little. 900 square feet. I have a roommate, I knew her before she moved in, so I knew we'd be ok.
If you can- go for the house. I don't regret it for a moment.
Make sure you don't overshoot though. You think about insurance and stuff, but what about if the water-heater breaks (as it always does), or you get flooded and have to redo carpet?
Just keep those things in mind. Don't get it so that each month you are scraping by to make the mortgage.
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