Though we bought it awhile ago, we’ve done a lot of work on it, so are still in our rental. For us, the exciting part (moving in) is yet to come, so your kind words are very much appreciated. 🙂
We don’t think we’re near the bottom, at least not for this area, but we found what we would call our “dream house,” and bought it at a price that is very much in line with what we were planning to pay while bubble-sitting. We’re as happy as scaredy was when they bought…which is pretty amazing, because I think he and I were the biggest worriers of all. I was also nervous about being almost entirely positioned for deflation, and while I firmly believe that deflation is the primary undercurrent for the foreseeable future, there is plenty of reason to worry about a currency collapse, too.
Also, we had to weigh what we were paying on rent vs. further price declines, and try to figure out how long that would take to play out. As it stands, we’re at about break-even with rent paid vs. price drops in our area. Not sure we’d end up saving any money if the rent we pay is equal to or greater than any realized price drops from here on out. That, and the fact that the kids aren’t getting any younger. We wanted to buy our “family” house while the kids are still living with us.
We intend to live out the rest of our days in this house…so price declines don’t mean quite as much to us. It was a matter of saving money that we’d rather have go toward retirement/emergency savings vs. spending too much on a house. We never had a goal of making a profit on our next house.
