Todd Dietrich

I’m Not Ready

I’m not sure why, but there are more than a few people who don’t seem to understand that I’m just not ready to buy a house yet. Maybe it’s because I’ve been educating myself about it for so long, or because when they bought their houses they were less prepared than I am.

It’s not that I don’t want to buy. Trust me, I’m more than ready emotionally, but as I referenced in a previous post, I just haven’t saved up enough. Well, that’s part of it. The other big issue is the monthly payment. I know what my net pay is, I know what houses around here cost, and I know how high real estate taxes are in the Lehigh Valley.

I’ve run the numbers and I can afford to pay a mortgage, taxes, or utilities, pick any two. Of course, you need all three or it’s not going to work. I’m a single guy so with one income it makes it a lot harder for me than for my married friends with two income earners. It was suggested to me that I look at a renter to help make the monthly payment more manageable. That’s not a terrible idea, but I would never want to put myself in a situation where I was relying on someone paying their rent in order for me to be able to pay my mortgage.

So until I find a screaming deal on a house or I find a way to dramatically increase my income I’m going to keep saving up and learning. There are plenty of ways for people to help me on my home buying journey, but trying to shove me into it isn’t going to work.

Todd

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4 responses to “I’m Not Ready”

  1. In a speech written by William Safire- Spiro Agnew called the critics of the Nixon administration “Nattering Nabobs if Negativism” don’t listen to the critics unless what they say comes from full understanding and from a place of helpfulness and hope. I live by the rule that only 2 opinions matter; Mine and the person who signs my paycheck (and only then if it is about work). You will know when the time is right and you will do the right thing at that time

  2. First let me say that I certainly hope you don’t consider me to be one of those people pushing you into homeownership. Second, you & only you will know when you are ready…until then you just keep doing what you’re doing!!

    • Certainly not. You and I have different ideas when it comes to borrowing, but the advice you’ve given me has been sound and you don’t seem to have “commission fever” like most real estate professionals I’ve spoken to. I’m sure people have differing motivations for pushing me, but this is something I need to do on my own timeline.