putting my future to the people. also, i want to buy a house.

[unappropriate]

so i've hinted at it a little bit in my day-to-day life (which, by and large, is where i focus when i'm not on facebook and twitter - i feel like i legit barely update anymore!), but i'm in the process of buying property.

i'd initially fallen in love with a magnificent mid-century modern bi-level (or quad-level, depending on where you're from)

Comments

[unappropriate]

i'm not going to apologize for where i come from and the opportunities that that has afforded me. if i took it for granted, that would be something else entirely, but i absolutely do not.

[unappropriate]

that's what we're trying to figure out. i think i could and could still live comfortably, but it really depends on what happens when i hear back from the mortgage people. but the answer, so far as i know at this point, is yes. i think the difference is that i really don't have any debt. if i did, you can bet your ass this would stay firmly in daydream territory.

and it's not being nosy - i did put that bit out there first. :)

[breaking_open]

I agree with JA, in that my biggest concern would be whether you can actually, really realistically swing it financially, since thinking about it in theory is a lot different than the reality will be. If you could, I would go with condo over LASIK.

[unappropriate]

the way it goes is, i would be using money from the trust for the downpayment. then, depending on the price of the condo, i would either pay the mortgage directly from my paycheck or rent out the second bedroom and use that income to cover part of the costs. really at this point it just depends on how much i'm approved for for the mortgage.

[desertbriar]

Would you consider a one bedroom? In an area like Boston, that will hold its value better than in a "traditional" market. You also might want to look into some of the FHA programs that are out now for first time buyers and for lower income buyers.

Also, don't mess with anything but a fixed rate mortgage. You can always re-fi down the road, but at least your payments won't go up.

You need to also keep in mind that in addition to your monthly payments, you need to set money aside for repairs. I just dropped five grand to fix dryrot in my roof.

In terms of Lasik or, it's kind of apples and oranges. I'd say if you can afford a place, go for it. You get to write off the interest, and it is a far better investment than paying rent.

[unappropriate]

well that's the thing - i have a one-bed now, and i'd really like the additional space. plus, the second bedroom is handy in the event that i should need to rent it out for the income.

still, those are valid points, and good things to think about, so thank you. :)

[urban_faerie_]

All of these things are the reason why every few years I start to think about buying property and stop. I want to own my own home, I can't afford anything in the city, but I'm not ready to move my life out into the suburbs

[unappropriate]

i get what you're saying, i do. at the same time though, for me personally, i'm at a place where i feel comfortable doing it, and if i was to buy, now would unquestionably be the time. i know things can break and damage and issues, but i've already set up a savings account that is growing quite nicely.

i don't think i could ever be a manager myself though. a lot of people do it, and they seem to have good fortune, but... yeah, not me.