Monday, October 19, 2015

Come back down to earth

I've had to work at bringing DH back down to earth since I mentioned we could probably be in a position to sell this place by next summer. As usual, he only hears the parts he wants to hear and I've spent the last week having him look at just about every home for sale in the area we want to be in. Literally, I'll bet he has looked at every home on zillow.

And of course he gradually kept showing me homes way out of my budget/price range. I said $250-300k....he's now up in the high 300's, even 400k. He's also ready to do it now. "oh look, this place is perfect - it probably won't be for sale long".  "Oh, look, it says the monthly payment is only $1200".

So, I had to yank him back to reality.
1) I SAID that IF housing prices in our area increase the 8% next year, as predicted, between that and what we will be able to pay toward our equity- we MIGHT be in a position to sell by next summer.

2) I SAID we will get a 15 year loan. I am not going to be 52 years old with a 30 year mortgage. Those monthly payment estimates shown on zillow are based on a 30 year loan.

3) The $250-300k range is based on what we would have available for a 20% down payment. I am not putting down less than 20% and also having PMI payments. If he wants to buy a more expensive house, then he needs to realize that is even more cash we need out of our place and that will then take longer to achieve.

4) What we will be able to afford will depend on what job I have - IF I can keep my job and work remotely, well then we can afford a lot more and/or can be in a position to be farther from a city (where it's cheaper). If I can't and have to find a new job, it's most likely not going to pay as much. I am NOT willing to put myself in a position yet to discuss this with my boss just quite yet. I want to know we are within a 2-3 months of being able to sell. And if I did have to take a pay cut, I'd rather it be based on my next years salary and not current. Every little bit helps.

5) We do NOT need a 3500 sq ft/5 bedroom house! I don't care if it's in our price range. I do NOT want to clean a house that big, nor do I want to pay to heat it.

6) You are most likely NOT going to find the perfect place that meets every single one of your criteria (he has a lot!)........not unless we had a million dollars to spend!

I kind of wish I had just kept it all to myself and then next spring, took a look at it all again and then told him about it. I was trying to give him hope, but I should have known he'd try to run with it all right now.

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