Why can't I get motivated to look for a house? Has this ever happened to anyone else?

Question

I'm a CPA in Michigan and I wish I had a dollar for everytime I heard the following (as if, despite being a CPA, I didn't know):

1. "Well it's a buyer's market right now - you can find a really good deal" (The houses I really want and would feel comfortable owning are still about $100K more than I can get)

2. "Well by renting, you're just throwing away money... Don't you want to build equity? You can get such a great write off on your taxes too, from the interest... (No - really? I guess even though I passed the CPA exam, I didn't know all that - thanks - and yes, the people that say this one are close relatives who KNOW I'm a CPA...) My husband and I have been renting an apartment since mid 2002 and I know part of it is inertia... I spent years trying to pass the CPA exam and now that I have, I just want to relax after work -- why do I feel this house hunting is such a chore? My husband keeps sending me links to different houses etc. Hello? I don't know he's finding these...

(I'm an auditor so it's pretty important to me to know what the population is, what kind of criteria were used to make a selection etc. etc. etc. - it is SO frustrating! I know I have to take the driver's seat with the search so that I know how we're selecting houses -- but I am just not motivated! To date, we've been pretty "anti-real estate agent" and today this older woman at work (who is married to a real estate agent) practically badgered me about why I don't want to use one etc. etc. etc. The truth is, I just can't get motivated enough to even think about it and I don't want to be hounded anymore about it. I pay my rent after all - nobody else does!

Plus it's depressing because the houses I really want are out of my price range... but they WOULD be in my price range if my husband were making the same income (or more) than I am. Right now his income is negligible at best and I hate it - I don't want to settle for a tiny *** house like a couple of my friends have, where everyone who visits you has to park on little streets etc. I mean really - my dad has a Cadillac and my uncle has an Audi - I wouldn't want them to have to park on those litte streets - you know what I'm talking about...

Answer 1

1. Contact a REALTOR (not a real estate agent, a REALTOR is more qualified and connected), they will do the homework FOR YOU if they're doing their job. They should be able to pin your dreams within 5 homes.

2. Ask for new homes- builders offer more incentives than a private seller ever can; often you can close with $0 down. PLUS it's always less drama and you can move into an inventory home they need to move within 30 days.

GOOD LUCK!

Answer 2

I'm sorry I have to answer this one to pump a little common sense into the subject. First, renting isn't "throwing money away"? Then what is it? You are paying someone else's mortgage. For what?

And the "only reason to buy is for equity"? Really? You mean not to furnish and landscape everything and anything you want to do to your own property?

And how can you predict what the housing and stock market is going to do in 5 years? Geez you must be a whiz and a super rich! WOW.

Sorry, had to comment on some of the answers. Now for the real question:

The fact is you want it all now. I know the feeling. It's the society we live in. Get it all, get it big and get it fast! Don't worry about not being motivated. If you like where you live, why move. But it sounds like me your head is telling you it is a wise decision to purchase. But your heart wants more than you can afford. Fact is, most people feel the same exact way. Fortunately their head usually wins. My wife and I were in the same boat. We were making decent money but not enough to afford that beautiful dream home. We ended up with a great smaller home and have already gained $50,000 in equity (in 8 months). It was the best decision we have made. In a year or two we will either rent out our current home and buy a larger one or build on to our current home and expand it.

You should have a good qualified Realtor that does his homework and finds areas that are good buys now. Fact is any stock investor will tell you owning real estate will almost always net you a larger return than investing in the stock market. Homes ALWAYS increase in value. Look at history. The longer you wait the more you'll pay. It does take dips and the "buyers market, sellers market" don't always last long. You can find a good deal in any market.

Make a good decision and don't get pressured. Since it doesn't seem that you NEED to move most likely you can find something you love in your price range even if it's not your "dream home". Just be smart.

Answer 3

If you're not interested in buying a house, why are you worried about it? I don't get this. You prefer to just rent, so just rent. Lots of people only just rent, it's much more convenient, and makes it easy to move around.

The only compelling reason to buy a house is that most people acquire equity in this way. But the fact is, the stock market will be doing better in the next 5 years than the housing market, because the housing market is burned out and won't recover for a long time. You can seriously invest in the stock market without ever leaving your home.

Answer 4

Ok--what's the rush? Renting isn't exactly "throwing money away." You are paying for a place to live. In addition to that, renting usually costs less than a mortgage so you have the opportunity to save more money for a down payment.

If you want to take a breather and relax, then put off the house hunting for six months or so, until you start to feel motivated.

Buying a house, especially for the first time, is a huge harrowing experience. It's natural to not want to deal with it. What's your passion? Find a way to fit that into what you want your home to be and try looking for that.

Answer 5

Well, what do you want us to do, come over and light a fire under you? If you are not motivated, then you are not! Send your husband looking and then accept what he finds. And if he finds something you ar enot comfortable with, then don't move. I mean really, what do you want us to tell you? You are an adult and must make your own decisions.

Answer 6

took me 20 years to buy a house.......could it be Drugs