Post # 1
DH and I REALLY wanted to be in a new house by now. I had a “starter home” before we got married. We’ve now relocated for work, so we’re living in an apartment in a new city, but I can’t unload my old house. I’ve tried to lease it, but I can’t get renters in there either, so now I’m paying a big mortgage payment every month for a house I don’t live in. And so our plans to buy a house in our new city AND TTC are on hold. 🙁 It just feels like an albatross around my neck. We can’t do anything we want to do and all my money just keeps flying out the window!
Ok, that was a rant. I feel better now. Anyone want to commiserate?
Post # 3
Ugh, I’m with you. I am so so sick of living in an apartment. I’ll keep my fingers crossed you can get rid of your old house!
Post # 4
Sometimes I feel like we’re “stuck” because we have a house, but I think I’d feel that way regardless of the current financial climate. Honestly, I don’t know where else we’d be if we weren’t here, so I think it’s just a case of the grass is greener, for us. I know it’s just hard when housing prices are dipping down, but I can’t complain because our mortgage is still insanely affordable (we’d at least a few hundred more to rent an apartment).
I think you just have to remember that lots of people are in your same situation, and count the blessings you have, as corny as that sounds. Luckily you can afford to keep paying your mortgage, and not have to totally walk away from your investment. I know you’re not in your ideal housing situation, but why should that stop you from TTC? Babies are blessings, and in the past, people have made due with a lot less space to raise them. All you need is a roof, crib and mom’s milk/formula… just think of all of those NYC bees who have their babies in studio apt or 1 bedrooms! Sorry you’re feeling so blue, hope things look up for you soon. 🙂
Post # 5
We are trapped in a different way, DHs ex passed away without refinancing the home they owned together and now they are saying that DH has to pay the back morgage for a house that we signed a quick claim dead for. We can’t do anything with the house legally, but they still expect us to pay for it. We are going to buy land and are hoping to get the old bank off our backs in the next year so we can build, but right now, everything has to be in my name so we cannot build until this is all gone. We have sent them a copy of the divorce papers, but they still will not admit we are not responsible for it, now we may have to incure more legal expense to get out from under that house. Taking up money for building 🙁
Post # 6
That’s so stressful! Thankfully we were able to rent out our old house so we are starting to look for a new one.
Try not to think about it as money going out the window, you are paying for a place to live and this way you don’t have to be paying all the upkeep on two homes.
I hope you figure out what to do with your old home soon.
Post # 7
Wow, thanks for the fast responses. You guys have a good point – I needed some perspective. Thank you! And the TTC delay isn’t cause of space issues. It’s more cause of finances. Paying rent on an apartment + mortgage is kindof a big drain, so I wouldn’t want to add baby expenses on top of that too. But yes, you guys are so right. It could be worse. Time to start thinking positive. Tomorrow may be the day we get an offer on the house! 🙂
Post # 8
I totally feel your pain! My husband bought our house at the peak of the market in 2007. It’s worth about $80,000 less than we paid for it. His mortgage is interest only for a few more years (he did this because he was planning to stay 5 years max), so we haven’t even paid down anything on it yet. Ugh. Then it rolls over into a 30 year fixed, but thankfully it’s not one of the really bad balloon mortgages. It’s so frustrating because if he had waited, we could buy twice the house for the same if not less. That’s how bad real estate has taken a hit here. So now we feel like we’re never going to get out of it. We’ve been trying to make the best of it with some minor improvements and personalizations after realizing we’re stuck. It’s tempting to just walk away, but that certainly wouldn’t help our credit to get a new house. What’s worse is that my husband has been beating himself up over it, wishing he had waited, but at the time how could he have known? His mother was being horrible to him about it the other day like ‘what were you thinking? You just HAD to buy a house then, didn’t you? Your brother just bought a townhouse and it’s brand new and 1/3 of the cost of your house’. Um, I’m pretty sure that she had no idea that was going to happen either. I seriously wanted to slap her because she knew how bad he was already feeling about it.
Sorry for that long story but it feels good to vent about it! I can’t imagine what it must be like to HAVE to move while being stuck with a house in another city. We’re lucky that my husband has a decent job here and we can stay in the house although we’d prefer not to. I have my fingers crossed for you that it sells soon!
Post # 9
We’re trying to sell our house too. In 2007 it seemed the the market was bottoming out and that it was a good time to buy. Who could have guessed the home-buyer credit and the big bubble burst was just around the corner?!?
Lucky for us, we’re still able to live in our house and don’t have to pay rent. But the commute to work is getting old (we now both work on the other side of town). Fingers crossed that someone will buy our house soon, so we can buy a bigger one, start a family and have a short commute!
I think the housing problem is such a bottom-up issue. Person A needs to sell their house to downsize, Person B wants to buy House A but needs to sell House B first, all the way down to Person F who is a first-time buyer that we need to buy a house to get the domino started!