Is it a bad idea for me to buy a house?
I've wanted to for a long time, but the prices kept going up and I felt like I couldn't afford it. But lately I've been running the numbers since the interest rates are really low right now. So I wanted to see what it would be. Dave Ramsey recommends your mortgage payment, property tax and insurance to be 25% of your monthly income, after taxes or less. I looked and I see houses sometimes I like for about $140,000. And when I ran the numbers on that with taxes and insurance it comes to just a bit over 25% of my monthly income. Plus I usually make a bit more but I didn't count it since it comes in bonuses that can vary. When I subtracted everything I could think of out of my monthly income I'd still have about $600-700 a month after food, gas, utilities, mortgage and insurance, car payment, cell phone, etc.
I'm not sure though, since I'm always worried how I'd afford it if I lost my job and had to take a part time one. Plus I hate change and I've always lived with my parents so the idea of being somewhere else, taking a different route to work, plus being alone so much seems a bit daunting to me.
What bothers me is if the prices keep going up and then the interest rate, then I might never afford it. And I'd really like the space of having my own place. Not so much the maintenance though and those expenses.
I've been at my job 6 years this spring. Plus I do have good credit last I checked which was last December.
It's funny because I think about this almost every weekend. But on Sunday night/Monday I'm glad I don't have a mortgage. lol
Underneath the cold November sky, I wait for you... As the pages of my life roll by, I wait for you... I'm so desperate just to see your face, meet me in this broken place...
Be a little brave for a little bit of time.