Aunt B. has been talking about buying a house, but it’s a bit daunting.
Okay, so, I’ve been talking to everyone I see in person about buying a house, everyone except for a banker, because I just don’t want to go in and waste time if I can’t afford a mortgage. And so I’m playing this f**ked up game in my mind where I talk about getting a house and I dream about getting a house, but I go to the mortgage calculators online and they say that I can’t afford a house.
Never mind that every month I write a check that is a house payment. Hell, it’s probably more than the payment on this place.
Is it a good time for her or not? There are plenty of real estate folks out there who might be able to give her some logical good advice but also remember, buying a house is also about our inner emotions and fears about setting down roots.
What does one do?
Look, look and look. If you find a house that feels right financially and aesthetically then move forward.
If no, it’s not the right time.
If you can afford monthly rent without breaking your budget AND you can find the downpayment (probably back up to 10% for most mortgages of the type you’d want) AND the mortgage agreement is clear, concise and fair–go for it.