- 3 years ago
Ok, maybe I am just a constant worrier and planner, but maybe I am not alone?
We have been saving up for a home for about 2 years and are about 7 months out from our new house being built/finished. We are buying well within our means and all housing expenses (mortgage, interest, insurance, prop taxes and utilities) will be below 30% of our monthly income. But….it still seems a little daunting.
I guess the biggest concern I have is that we are almost doubling our monthly housing costs. Now, it is for good reason because right now we are living in a 1,100 sq ft duplex that has super cheap rent in a different area of town. Our home will be 2,300 sq ft, single family home with updgraded finishes in a really good area of town. So, it’s hard to really compare…but it still seems like a big jump!
We are putting down a good downpayment and will still have a large amount in savings, but I still worry a bit! DH is not worried at all apparently. I guess now that we will have a mortgage, my mind immediately jumps to….what if we lose our jobs (fwiw, we have been in stable jobs for a few years now) or what if something crazy happens (accident, etc)?
Now, I have never been one to fear the unknown or decide based on what ifs…but the weird things is, I have never even worried about this before. I guess the thought would have been, if something drastic happened, we could always find a cheaper place to rent (mind you, we might have to break a lease).
Ugh, I feel like the likiliness of any of these things happening is slim to none, but I guess making the biggest purchase of our lives has got me thinking of a lot of “what ifs.”
Did any other bees worry about this stuff? Or am I just overthinking it?
ETA: I have no reservations about loving the home we are building. We looked at 20+ homes and this was the home…I guess it just the large sum of money part that I am worried about.