Home Sweet Home

April 13, 2012 at 12:03 pm (Uncategorized) (, , , , , , )

It seems like everyone I know is settling down.  While I was visiting home last weekend, I went to a housewarming party for a high school friend of mine and saw her first ever purchased home.  It was really, really nice and the pool table in the basement/woods in the backyard/1950’s refrigerator were all nice features.  The next day I viewed the brand spanking new house of my cousin and her growing family and again, was blown away by the space and newness of it all.  Something else I was blown away by was the price – realizing that monthly mortgages on homes run roughly what I pay in rent for my one bedroom apartment was a bit of a rude awakening.  Sure, these houses are in Southern Indiana and I’m in the heart of Chicago but still.  The truth sometimes hurts.  I could own my home in Chicago for these prices but I’d be neighbors with hobos and my garden would be growing under a bridge.

Which direction are you going in?

Not to say people don’t buy in Chicago.  A few of my close work buddies own condos and a good friend of mine who is in the midst of planning a wedding is also now planing to purchase a place (in my neighborhood, which is awesome).  It’s exciting to talk about this with people but I still don’t know if it’s for me.  I like the idea of being able to call someone when my dishwasher stops working or my drains get backed up and I really like the idea of someone else shoveling snow off my front walk.  That being said, the older I get the more I see the benefit of owning your own home.  But the problem is this – as old as I’m getting, I still don’t feel old enough to do it.

Fixed mortgage rates?  Brokers?  Itemized deductions regarding your home on taxes?  Association fees?  Equitable assets that could demoralize your life savings?  I’m not even sure these are all really things but given the knowledge I have on the subject, they very well could be.  Why isn’t this type of stuff taught in high school?  Or perhaps it was, and I skipped that day.  Whoops.  Regardless, this is all serious business and it makes me really applaud the people who have made these types of purchases.

As for me, I’m glad that Scott and I just renewed the lease on our apartment.  After all, my dishwasher isn’t going to fix itself!


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