Huge Tracts of Land!!

Signs of A Super Dad: A man with a child’s book in his hand.

There are a few major steps in life. Things like graduating high school, graduating college, getting that first “real” job. My family and I are about to delve into the next big step: Buying a house. Our original plans had us saving money for another year or maybe two, but since there is now an 8,000 tax credit incentive to buy a house we just figured we couldn’t pass it by. Eight grand is a lot and is worth pushing our plans ahead. Plus, let us not forget we are in a buyers market. The housing market has tanked and prices are way lower than a year ago. I am sure things will turn around but who knows when. It could be another year or maybe five. I get a feeling things will start turning around by next summer and housing prices will begin to rise. I think striking within the next six to ten months is a good idea. Of course, at this point I have completely been bitten by the home ownership bug (well not really owning since you don’t “really” own it), so that might be clouding my judgment.

My wife and I have been combing the internet for housing information. A lot of information needs to be digested in a short period of time. The tax credit is for can only be claimed for people who purchased a house before November. In our research I have discovered, well not really “discovered” per se since I am sure this was taught to me sometime in school, but more relearned just how big a racket the mortgage business is. For instance, over 30 years paying on a home mortgage you really pay almost 3 times more then the original price of the house. Most of you probably already realize this, but this is quite the shocker to me. It is no wonder this country’s economy went to crap after the housing market fell through. Tripling an investment over a 30 year period is pretty nice. I really need to get into this whole mortgage business, knowing all I know about mortgages and all, which is less than nothing. I could do well, don’t you think?

But, you really can’t think about it like that. It is not as if you can wait 30 years to raise that money. Well, probably more like 10, but I am sick and tired of living in cramped apartments with no yard, the same furniture we had since college and a kitchen that barely fits one. Plus what if I felt like taking out this wall next to me? Well the landlord sure in hell wouldn’t just let me. With house I just have to deal with the wife, which now that I think about is a little more difficult. I want a pool table. I want to sit outside on the patio during the summer. Sit out their and just look at my small little yard. Not think about anything, just relax. I want to go outside and have my kids play in the yard instead of a parking lot. I want grass.

I want the ability to use high powered tools that I have no business playing with. I want to use those tools to build a finished basement that’s never finished. I want build a wrap around deck that falls apart, just to have me try it again. Because even though that deck might look like crap, I still built that. Having a house is about having pride that you have really reached adulthood. At least that’s what it feels like to me. Yes I have no doubt the house bug has bit me and I am excited!

Even though my excitement is growing exponentially I am still grounded. On the internet you can find mortgage calculators. They tell you what you can afford with your current salary and debt. Most of them have giving us a similar amount that we aren’t going to use. My wife and I have decided to go much lower then what those amounts tell us. It’s just smart fiscal policy.

And if you really think about it, owning your first house is like having your first kid. There’s always seem to be a “better” time, but what is “better”? You’re always going to have issues you have to deal with, waiting just changes them. Is putting it off till later just a way to put off something you‘re to scared to commit too?

Well thanks for reading.