Tuesday, July 24, 2007

Anxiety Ridden Tuesday

The good news is, that I was pleasantly surprised by how much I enjoyed "The Mask of Zorro". The bad news is, that I've got butterflies so bad this afternoon that I feel like I could throw-up. I'm not comfortable with the volume of lines I have to read, or the choice of dialogue for the character. The more I practice the script, the more awkward I think it sounds. GAHHHH!

And to make matters even more lined with anxiety, we're going to look at a town house in Brampton tonight. The thought of buying a home is both exciting and frightening. I don't know if I'm ready. I don't know if our financial state is ready. It'd be nice to have a yard for the boys, and a place of our own, instead of throwing rent money at something we'll never own. But we know nothing about real estate, and the market (from what I can tell) is really scary right now. Is there anybody who could back me up on my theory that it might be better to keep renting until the market cools or falls? 'Cause right now... my little real-estate-ignorant brain is telling me we could end up paying way too much for a starter home and then not be able to sell it for more than what we paid. Is that off the mark? Mind you, the little place we're looking at is relatively cheap at 150,000. I just don't know much, y'know?? (Ted just called me to say our appointment to see the place has been moved to tomorrow - so at least that's one iota of anxiety belayed.)

Blah... wish me luck staying in character.


Misster Kitty said...

OK well here's what I say to you and Ted. Meet with someone at your bank first to review your financials, see what you could be pre-approved for in the line of a mortgage and work from there. If they laugh, well you have your answer, if not then you'll see what you should realistically be looking at and for.

I am a firm believer in ownership over renting... even if you're paying a couple hundred more right now... The longer you put it off (if home ownership is really what you want) then you're just throwing your money away.

It ain't easy, but sometimes you just gotta jump...

Anonymous said...

I had virtually no intention of ACTUALLY buying a house and then BOOM I had bought a house. I think the reality is that you worry, you buy, you have to adjust, but in the end you go, "Oh. I guess I COULD afford it after all."

iandouglas736 said...

Remember too that just because they pre-qualify you for a given dollar amount doesn't mean you have to SPEND that dollar amount. I've heard of horror stories of lenders who PQ people for a dollar amount, they go spend that dollar amount, and then realize they couldn't really AFFORD to pay the kind of payments.

And hey, be thankful you don't live in California right now, condos here start at about $350k for 600 square feet. Elizabeth and I are waiting for the foreclosures to hit next year before we go look at anything ... you can bet banks will have property to offload at lower prices 'cause they're not in the market to sell real estate... they'll want to offload the foreclosures quickly.

John said...

Thank you to everybody who offered advice and e-mailed me about this. It helps to have friends to offer encouragement and tips, when you're considering a big step.

We're going to see the place tonight. I'll keep you posted.

Hugs to you all.