looking upward
The more I look at houses and mortgage calculators, the more I realize that the amount I had in mind for a down payment and closing costs and emergency fund is too low, if I want to have the kind of security I want to have going into the mortage. I could press forward with what I have, but I would feel better if I had more money to work with. I’d rather overestimate than underestimate.
I am talking myself out of being disappointed.
Actually this is cause for joy. It’s better to know this now than later.
On another note, I’m looking forward to further career development. I’m working on a volunteer project that will: 1) help someone in need, 2) give me valuable experience, 3) help me network with other like minded colleagues. I’m still waiting to hear back on the interview I had, but I can expect to wait a little longer before hearing back. I’m consistently looking at the market, but it’s tight right now - all the more reason for me to believe that this job I’m waiting to hear from has my name written on it. Often, the good things come with a little patience.
I think you have to do what makes you feel comfortable. I had friends who could not understand why I was going through a home buyer’s program to buy my home when I could have done it much easier and quicker through a regular bank or broker. But I knew that the classes I had to go through and the forced savings and budgeting would benefit me overall. Going through that program allows me to have a mortgage in the same amount as my rent without a lot out of pocket verses going the quick and easy way and paying a higher interest rate and my own closing costs, etc. The only person that can determine for you what you should feel comfortable with is you.
Comment by S23 — July 15, 2008 @ 6:39 am
It’s definitely better to know and revise your numbers upward now than when you’re smack in the middle of making offers, etc. I find myself revising my numbers depending on the circumstances a lot, and I feel a lot better knowing that I’m making decisions on purchases based on a realistic view rather than what I thought would happen 6 months prior.
Good luck with the volunteer project!
Thanks!
Comment by Revanche — July 16, 2008 @ 2:40 pm