Decisions, decisions, decisions! When I was younger, I totally killed my credit. As many of you may know, credit can be a pain in the arse. In my defense, I was young and stupid, and didn’t realize it would take me a decade to get it back to where it should be. I got lucky, and had a parent who financed my home…which I spent 10 years busting my rear end to pay off. Yay me, I’m a home owner..to a home that needs almost EVERYTHING updated or replaced now. I am at the stage where I wanted to get a bigger house, a better house, a new house with zero work required.
I set about looking at houses and found the perfect house. Five bedrooms, three bathrooms, and a kitchen to die for. I love to cook, so it was pretty high on my list. I looked at financing. I could pay this house off in 23 years and have an interest rate below 4%. The kicker? I wouldn’t have to put a dime down on it.
Here I was, in the middle of a loan application, and it hit me. People call it second guessing. I personally call it realization. I can sign these papers now, and by summer, be in my dream home. Life would be so perfect. However, I would have a house payment I had not previously had. How long before the new wore off? How much would it cost to update my house in total if I did one project at a time? I would no longer be a home owner, I’d be one of the gozillion people in the world that had a mortgage, and worry that if I lost my job, I’d lose everything.
I would no longer have some of the financial freedoms I enjoy. My kids are teenagers that won’t live here forever. What the hell am I doing??? So many people would kill to have what I have, and here I am…trying to throw it all away??? If I can afford this house payment, I can afford to save this much money a month. In two years, I could update 90% of the things I wanted to update on my old house, and I’d still own it.
That new house might be pretty and shiny, but it can’t give me what this old house can…security. If I sign those papers, I’m destroying what I busted my rear for over the last 10 years…security! So, sorry kids, that third bathroom will have to wait until Mom saves the money to buy it out of pocket!