The Roof

Today we met with a realtor to discuss our home-buying options. The good news is that yesterday, we negotiated our rent down to a manageable size. The bad news is that we have to sign a year-long lease. The reason this is bad news is because in order to plan future financial security, buying is a better option. Rent is money thrown away. We get a roof over our heads and a place to keep our stuff, but what a damn expensive roof.

With homeownership, we build equity, get better tax deductions, all that crap. And although we haven’t done the preliminary mortgage inquiry, the other bad news is that all we would probably be able to afford at this point is a one bedroom condo that’s not much bigger than what we live in now. It’s a crazy mixed up world.

The other bad news is that in our market, home prices don’t go down. So next year at this time, we’ll be looking at homes that we could have bought today for $100K less. Sigh. Unfortunately, we just can’t afford to do a short lease and house-shop this winter, which is what I would like to do. Of course, if we can pay down some of our debt in the meantime, we might qualify for a bigger mortgage.

This is boring, and I apologize. But it is kind of nice not to think about the impending wedding for a minute of my life. At this point, I just wish everything I have to do would be done and the day would just come. I need a montage.

Of course, I know it’s going to go fast, and after it’s all over, I might regret this desire for its swiftness.

In other news, my email server is a bitch.

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3 thoughts on “The Roof

  1. Lee says:

    If it’s any consulation, there’s no such thing as a market that only grows exponentially… I don’t know what things are like over in your neck of the woods, but houses in sunny LA are way, WAY overpriced, and the real-estate bubble will be a-bursting. And when it does, we’ll be there to scoop up *something* reasonable (i.e. more than one room for less than 300k… )

  2. Sara says:

    The problem with living in/near DC is that the Federal Government won’t be packing up and leaving anytime soon, so either there’s growth or there’s leveling off in this area. Not likely to be any droppage. Sigh. I’m hoping we can find something reasonable next year, or at least have enough good credit to get a huge ass mortgage approved. Yeah.

  3. Stacey says:

    At some point, the bubble is going to have to burst everywhere. The reason being that if our generation can’t afford to buy the houses of the generation ahead of us, they can’t move into the nicer houses of the generation above them, which goes on and on until you get to the point where people who are retiring and moving into nursing homes (and downsizing) can’t sell their homes. The bubble bursting action will have to happen to put things on an even keel again — it’s just a matter of when. It can’t go on permanently. But, in the meantime, we’re all screwed.

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