Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

1 Bump

Anyone fearful to purchase a home, but then happy they did it?

My husband and I went round and round for the last few years about buying a home. He got a job that is secure, training soldiers, meaning there's no chance of him loosing his job in this economy. So we decided to buy a home. We should hear back from the bank tomorrow. Have 3 homes picked out, then go through the process with the VA and the bank.
Anyways, I always argue, what if something huge breaks and we have to fix it? Rather than a landlord having to fix it. He says, we're throwing our money away now that we will be planted somewhere, owning is better than renting....and acutally $200 - $300 less a month for a mortgage than rent where we will be.
I was fearful, but am now getting excited that our babies will grow up in a home. I have moved every year of my life since I have been 18, it's getting old. I'm 32.

Did anyone have the same reservations like me, but then glad you made the decision?

 
2BlondeBabies

Asked by 2BlondeBabies at 9:01 AM on Jan. 2, 2011 in Home & Garden

Level 25 (23,069 Credits)
This question is closed.
Answers (7)
  • It is very stressful buying a home. It is very normal to be afraid and doubting your decision. We bought our home in 2003. I was pregnant with our first child. We had to buy a new car because mine was totaled. So we had some very big changes all at once. It was stressful but I am so glad we bought our house. I love it! This is OUR home.
    Snewo

    Answer by Snewo at 9:19 AM on Jan. 2, 2011

  • Absolutely, the house I live in was purchased 4 years ago and it was the best decision of my life. I LOVE owning this house. As to you having to fix things instead of the landlord it's actually quite nice, since you can get stuff done when YOU want to instead of when the landlord decides to... Make sure you have all your numbers down, since I know our boiler conked out quite a bit at the beginning, but it turned out (even though I was panicking like a mad woman) that it wasn't that big a deal and it was quite easily fixable. The repairman even taught us a bit so we could do it ourselves.

    Just remember to enjoy your new house! Good luck!
    leah_rai

    Answer by leah_rai at 9:06 AM on Jan. 2, 2011

  • I think everyone is fearful to make that big decision. I never rented basically lived with my mom, and then went right into buying a home. I just could never see putting money out for something I did not own. So, renting never really was right for me. Of course, when buying a home you will have your fix-it but it is all worth it in the end. You will know and have peace of mind that you are fixing things for yourself and your home. My home is older 1952- and I absolutely love it!! Good luck on your new home!!
    Kellyjude1

    Answer by Kellyjude1 at 9:10 AM on Jan. 2, 2011

  • It's always scary to make a huge financial decision. But I love my home and I wouldn't trade paying on it for anything in the world. I am proud of what my husband and I have. If you are worried about something breaking, there is always a home warranty, which is usually no more than people are generally paying in renters insurance. Usually a realtor will offer you one when you buy a home - and that's something you can ask for when you write an offer for a house - I think ours was $250 for a year's warranty? Also - you could take the extra 200-300 you would be spending in rent and put that into savings for just in case something breaks.
    missanc

    Answer by missanc at 9:15 AM on Jan. 2, 2011

  • Very normal feeling you're having. I think most people feel this way. It's a big decision and probably the biggest purchase you will make in your life, so it's important to think it all out carefully, then once you've made the decision, you'll be fine. If your mortgage is less than your rent was, you'll be fine. One thing many people don't consider, is that you will most likely get a big tax refund back, because of home ownership. Another to think about is that rents go up each year and your mortgage payment won't, so in a few years, it will seem very small. Also, if something breaks, which doesn't happen often, you will have money, from the difference in mortgage payment and what rent was.
    SweetLuci

    Answer by SweetLuci at 9:19 AM on Jan. 2, 2011

  • I think it's par for the course to be nervous in owning your own home, to which I HIGHLY recommend you paying the couple of hundred dollars to have an independent HOME INSPECTION conducted BEFORE you close! Make sure that the inspector is NOT a "friend" of your realtor--look them up in the phone book and call their references!

    You'll feel so much better knowing that you bought a solid home and the inspector will tell you about things that MIGHT need to be repaired relatively quickly--some of which you may be able to negotiate with your seller in the form of a discount BEFORE you close!
    LoriKeet

    Answer by LoriKeet at 11:52 AM on Jan. 2, 2011

  • Thanks all, when you get a loan throught the Veterans (VA loan) they actually send in their own inspector, then they appraise what they value the home at. And if they are asking say $150K for the house and it's only appraised at $140 that is all the VA is going to give you. I would rather my dad inspect it, but it's not going to happen, since he is living and caring for my gramma right now. But I have learned a lot from my parents, hence my hesitation.
    2BlondeBabies

    Comment by 2BlondeBabies (original poster) at 2:07 PM on Jan. 2, 2011

close Cafemom Join now to connect to other members! Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN