Whining and More House Talk

May I whine for a moment?  Okay, thanks!  🙂

OOOWWWWW!!!!  My arm HURTS!  Stupid tetanus shot!  Surprisingly, it’s worse today It’s like someone hit me in the arm…with a baseball bat!  If I sit perfectly still it’s slightly sore, but if I move my arm and engage that muscle at all, it’s painful!  MUCH worse than the pain of actually getting the shot!

Okay, done whining.  Thanks for listening.  🙂

So I’ve been thinking some more about this house issue…of course…and the idea of the tax credit is “selling” me just like the idea of a good sale.  I feel like I should hurry, like I should absolutely do this now!  Whether I want to or not.  Whether I’m ready or not.  Whether I can afford it or not.  It’s the same feeling as the temptation to apply for a store credit card, or buy something I don’t want or need just because there will be no interest for 12 months.  The tax credit is an excellent incentive…and I think that’s a bad thing for me right now.  I think I need to consider this issue apart from the tax credit, just to make a rational decision rather than feeling hurried into it.  If it is the right decision for me to buy a house, the tax credit will be a huge perk.  But if it’s not the right time for me to buy a house, $8000 won’t make it right.

Questions I need to answer:

-Can I use part or all of the $8000 as my down payment?

-How much should I plan for things like home inspections, closing costs, etc?

-What things can be figured into my mortgage, and what things will I need to pay for out-of-pocket as I go through the process?

-How much will it cost to break my apartment lease, if I do end up buying a house before December 1st?

 

Believe it or not, I’m leaning toward a decision of no, this is not the right time.  Two reasons: One, despite the fact that all my friends are doing this, I don’t particularly want a house.  I don’t despise the idea of having a house, but I don’t prefer a house over an apartment, owning over renting.  I’m fine with the status quo, my 800 square feet of pure joy right here.  🙂  Reason number two, at this moment, it seems as though I can buy a house, or start graduate classes, but not both at the same time.  I’m not confident that I can handle the costs of the home-buying process along with tuition, and as you know, I intend to pay for my graduate classes as I go, rather than acruing more debt for the tuition costs.  If I buy a house first, and wait to start on graduate classes until I’m settled in my new budget, it would work just fine.  On the other hand, if I wait to buy a house until I’m done with my masters, it will be two more years.  On the other hand, if I buy a house first, what if all my “extra” money is going toward house projects and I never do start classes?  On the other hand, what does it matter?  There’s no deadline for either one.  There’s no law that says I have to ever get a masters or buy a house, if it’s not the right thing for me! 

However, despite knowing all that, my gut feeling is the sooner the better on either of those courses of action.  Owning a house, I will be building equity and putting my monthly rent money toward something.  With a masters, I will be on a higher column of the pay scale.  Either way, having done the thing I decide to do will be of benefit.

If I own a house, I will be somewhat stuck in this course of action, of course.  I probably won’t be able to go teach at a Catholic school if I want to, for example.  I won’t have the freedom to change my source of income, or to quickly change my plans and move to Texas or something.  That doesn’t really sound like a big deal, though.  I like teaching in a public school, and I like living here.  I don’t want to change those things.

The discussion continues…

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1 Comment (+add yours?)

  1. Mom
    Jul 15, 2009 @ 21:07:41

    If you decide to go for the house over the master’s degree, you may not have as much time to work on the master’s later. You will be doing things like mowing the lawn, pulling weeds, trimming bushes, and making minor repairs (or waiting for the repairman to come). But you will probably have a quieter place to study for the college classes over an apartment.

    Reply

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