Buying vs. Renting is still on my mind. I tend to get obsessive about things, and this is no exception. Thank you to those who left me comments, a lot of the things you mentioned helped clear things up in my mind, and we seem to agree on many of your points.

So, I’m still thinking. Due to some scheduling conflicts I still haven’t been able to set foot in any of the apartments I saw listed, but we’ll get to that soon. It’ll help give me an idea of what I’m getting into. Plus its given me time to compile a checklist of sorts of things to look for or to ask about each unit and building.

I wanted to expand on a couple of thoughts/comments, too…

The only reason why I feel as though I’m taking the “easy way out” is because I’d been so sure I wanted to buy in the past. Prices are low, and I think a couple of years from now (if things keep getting better) they won’t be this low anymore. Not to mention the $8k incentive the government is offering. I’ve had my downpayment sitting in the bank for more than 6 months. Its making me anxious. I’ve run the number so many times, and yet it feels like now that “the time” is getting nearer I’m just ducking and running after seeing just a few ugly houses. That’s what it FEELS like. I also agree that while its what I thought would happen, that doesn’t mean I should make it happen if its what I no longer want. We’re all free to have a change of heart, right?

Another weird thing happened the other night, which just makes me freeze in my tracks (and duck and run for cover as well). My dad asked me if I wanted to buy our house. As in, the house we’re currently living in that my parents own. I definitely don’t want to, but knowing that I have that definite answer makes me feel guilty. Like I don’t want to help them. Technically I could buy it, it’d be mine, I pay the mortgage….but what happens to my parents? I want to move out, not to just “buy” a place…I want to live like a proper adult would….ON MY OWN. I also wouldn’t kick my parents out. So its still a no….but this just really tells me that my parents are in trouble. My dad would never suggest that unless it were the case, and I’m not sure what kind of role I should be playing there.

In my previous post Nick asked what is “wrong” with a one bedroom apartment. Nothing’s really “wrong” with them….but if I was going to buy a place I wanted to make sure I would be in there for the long term, and having two bedrooms gives me some breathing room if we need to expand (like for a home office, or something….) I don’t know exactly what the future holds for me, so some extra room would be nice. Now that I’ve started thinking about one-bedrooms I realize it’d be the best thing for me to control my “stuff”. I’ve been trying to unclutter for a while now, unsuccessfully, and a small space would force me to. Plus, knowing that I only am obligated to stay there for a year makes it seem less daunting. If I moved into a larger place right away….well, I’d fill it up right away. And that’s probably not the best thing to do.

My hesitation is definitely a huge sign that I’m not ready. But….I’m still reluctant to admit that to myself. I’m going to get yelled at here for saying this, but I wanted to buy. I wanted to own my place. Yes, its what got our country into this mess, but with my numbers I think I could do it. And so I wanted to….”because I can”. Yes, a dumb reason, but I think that was a part of it. In a way I wanted to prove to everyone that I’m not a total loser….”I’m living with my parents to save money so that I can buy a place. And what have you done?” * (Yeah, just a little pent up resentment there….excuse me, I’m back to myself now…) What I understand now, is that even if I’m financially ready (kind of) it doesn’t mean I’m ready to buy a place psychologically.

Although now I’m running into an altogether different dilemma. I’m afraid that now I’m trying to buy into a lifestyle. I want to move into one of these fancy-schmancy buildings, under the guise of them being close to work, but I think I’m really just excited to be a part of that lifestyle that I’d dismissed after graduating from college (when I realized how expensive it would be to buy one of those units). I always wanted to live in a loft, and while these aren’t lofts, its the same idea….either way, I feel like a hypocrite. 

Finally….I’m worried that maybe I’m addicted to saving?! I know I’m probably appealing to the wrong crowd here, and it might really be a ridiculous suggestion, but sometimes I get the feeling that I’m being greedy with my savings. Its hard to explain. For the past three years I’ve been used to saving more than half my income. I’m just so used to that now, and I almost take it for granted. (I know! Shame on me!) When crunching the numbers to buy a place that number went down to $200 for personal savings, and $500 for retirement. That’s $700. Way more than most people I know get to save every month. And I was still nervous about bringing that $200 so low**.

Do you think there’s such a thing as saving too much? My logical side says there’s no such thing and I could always do with spending less and saving more. But then the other side of me thinks “You’re missing out on the opportunity of owning property on account of your savings? Many people don’t get to save that much each month and they’re doing ok!” ***

You’d think that as a money-obsessed PF blogger I’d think there’s no such thing as saving too much, but I can’t help but think I’m clinging to money like a security blanket and hiding behind it, when its really not going to fix my problem, whatever that may be.

Anyway, I didn’t mean to turn that so much into a therapy session, just to lay out a few of my thoughts on the matter at hand. More updates when I finally get to set foot into one of these buildings. I do want to say though, if I decide to rent I want to be moving by July 1st. I’m stubborn like that. More on budgeting when that decision is finally made….

 

 

*I know some people are going to want to comment on this. Keep in mind that when I write these posts I’m looking into my own behaviors and trying analyze and try to explain what I think is going on in my head. Sometimes these explanations will be a bit exaggerated just to get my point across.  Just thought I’d throw that out there.  😉

**By renting at $1200 I bring that number up to $400 for personal savings, and I still have room to give my parents $180 (or more if I lower the $400). If I buy, I can’t afford to help my parents at all.

***Keep in mind I don’t really have conversations with myself, I promise, I’m just trying to portray as clearly as I can some of the thoughts running through my head.

Advertisements