Monday, July 25, 2011

Now I want a house

Or more accurately: I want a house, now.

We just helped some friends of ours move into their first house, and then we went to their housewarming party over the weekend. It's a small house, but cozy, and with nice amenities including a big deck and a nice sized backyard. And it's driving me crazy.

I just moved here, and while I love it now, I wonder how I'll feel after six months of winter. We have student loans to pay off. We've been at our jobs only a couple of months, hardly long enough to qualify for a mortgage. We don't have a 20% downpayment saved up. Our apartment is right downtown, where Peanut can walk to work. Everything is taken care of for us by our management company.

I know all of these things, and they don't matter. I am totally house crazy.

I just want to live in a place where I don't share walls with neighbors. I don't want to hear anyone walking above my head, unless I know them, and I don't want to ever hear anyone having sex through the floorboards again. I want a private outdoor space where I can go sit and read. I want to pick out my own wall colors and flooring type. I want a washer and dryer that I can use when I please, instead of waiting on other people or pulling their now-cold clothes out of the dryer after waiting for twenty minutes for them to not show up. I want a place for company to stay that's not on the couch in my living room. I am anxious to get started on a family, and I want to be in a house before we bring a squalling newborn home. (There are NO babies or children of any age in our apartment building, which is weird, and I don't want to be That Family.)

The plan right now is that we're going to start saving really hard for a house and start looking in the spring. How hard is really hard? Well, we're going to try living off of 2/5 of our joint income and saving the other 3/5. We'll keep paying minimums on our student loans, but we will max out Roth IRAs for the year and contribute the max to receive the match on our company retirement plans. This still may not be enough to have a good-enough down payment on the kind of house I want by next summer, but it's the most aggressive and realistic plan we can come up with. And frankly, I'd be content to rent a house instead of buying, but the increased monthly cost plus moving costs would ding our ability to save to buy.

What to do?


8 comments:

  1. Totally understand where you're coming from! We've been our house for the last year and absolutely LOVE IT!! My kids are so happy & we have so much more room... good luck on your plan!

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  2. It's definitely a good time to buy IF you're willing to commit to living there for a long while, no matter how bad the winters get. :)

    Bonnie

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  3. I hear you! I've been renting an apartment for a while and I'm feeling the itch to get our own place. I too want to be able to paint our walls and make renovations that we want. Oh, someday. I think your plan is a good one. Good luck!

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  4. Now would be a good time to start thinking about where you want to live. I really like owning a house because there is a lot more privacy with it. Plus, the Minneapolis housing market has really taken a plunge so it would be a good time to buy.

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  5. I want a house too! But I keep telling myself to pay off debt first, save, and then look.

    Until then, I'm still looking through house ads.

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  6. We moved into a building with a very small number of units, nice thick walls, and always-empty washing machines. Besides being generally unready to commit to the area, I think that quiets an house desire.

    But i totally understand your desire! Keep on saving! Good luck!

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  7. I've had the exact same feeling for quite some time now, but I know that we will be much better off if we pay of our debt first. I would love to have something we could call our own and hopefully when our current lease ends in 18 months we will be much closer to reaching that goal. Keep plugging along, you will get there!

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  8. Since you have a plan just be patient and work with it. Never lose sight of your goal no matter what.

    I can understand how you feel. It will be awesome when you get your own house and start your family. Just take it easy for now.

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Thanks for commenting!