Buying A Home
kimberlygo
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Scared?
I am a first time home buyer. We close in early May. I am getting married in May as well. I'm feeling very overwhelmed - especially financially. I've always lived very comfortably in an apartment with cheap rent. I've been able to buy what I want when I want and have still managed to save a good amount, but things are about to change. I've cleaned out most of my savings to pay for a down payment and closing costs. While I know that I can afford what we've purchased, I'm definitely going to have to make a lot of cuts and my lifestyle is going to change. I have been told this is normal, but its totally new territory for me. I love our new condo and I think this is the right time to buy for us, so I'm glad we decided to move in this direction, but it is going to be a big change. That, mixed with general uncertainty about the economy, etc. is making me so nervous. Anyone else feel this way and can commiserate?
Re: Scared?
I know the emergency fund police are going to follow me soon, so hopefully you still have some savings in case of an emergency (I'm assuming you do based on the fact that you were financially savvy enough to put yourself in position to buy).
Yeah, I'm scared too. We close in early April and I've been feeling like I'm at my breaking point between getting everything squared away and thinking "dear god, what have we gotten ourselves into."
Our pre-house lifestyle allowed for a large monthly clothing and entertainment budget far beyond what is reasonable, so I feel fine about cutting that. H and I are well employed and upwardly mobile and should be okay. It's just such a big thing. All of a sudden we're responsible for this big hunk of wood and concrete and holy cow, what if it was actually a huge mistake?
We have to get our apartment rented ASAP so we can get out of our lease and not carry it. Once that happens I think I'll feel better. I did speak to my land lady and she told me that it's always scary to buy and that the night before they closed on their townhome she couldn't stop crying.
I asked my doctor for a xanax prescription, and I have to say that it works wonders for the crazier moments. We're waiting to hear back on whether or not they're going to fix things we found during inspection and I'm only slightly inclined to assume the fetal position and hide in a corner.
Establish a budget and work to build an emergency fund. Both will help you feel a sense of security and know what are your spending limits. (some non accountable personal spending money for each partner helps alot). Looking at your new place will also help when you have to wait to buy, or need to pass. It will be worth it.
Your question and all of these responses make me feel so much better! We are only in the negotiating stage, but everytime they counter I can't help but think "ok good we can just walk away now and get our check back..." Every other day I swing between needing/wanting/being able to afford a house to not wanting/I can't afford this!!! type mood swings.
Glad I'm not the only one!!