Buying first home–feeling anxious

[bearishgurl]

[quote=walterwhite]Ah it’s no big deal. I don’t remember getting uptight about it. You guys are exaggerating[/quote]

scaredy, hello?? Look me in the eye. You had a lot of Compadre Piggs holding your shaking hands during the bulk of your l-o-o-o-ng escrow (and also during some of your offers that didn’t gel). As well as substantial liquid refreshment utilizing the world’s finest mixers.

But you came thru it all like the champ you are :=]

[scaredyclassic]

I wasn’t even slightly nervous. Ok but seriously I was fearful and nauseated. I don’t aim to calm you down since your terror may be instinctually correct. First you should expect to have your entire downpayment lost as soon as you write the check. It’s like a loan to an untrustworthy friend you’ll feel better if you kiss it goodbye. Second you should be ready willing and able to live in this dump a long time. Third you should have zero expectations of good things happening financially in the future. Once you relinquish these things you can relax.

[scaredyclassic]

I wasn’t even slightly nervous. Ok but seriously I was fearful and nauseated. I don’t aim to calm you down since your terror may be instinctually correct. First you should expect to have your entire downpayment lost as soon as you write the check. It’s like a loan to an untrustworthy friend you’ll feel better if you kiss it goodbye. Second you should be ready willing and able to live in this dump a long time. Third you should have zero expectations of good things happening financially in the future. Once you relinquish these things you can relax.

[scaredyclassic]

I wasn’t even slightly nervous. Ok but seriously I was fearful and nauseated. I don’t aim to calm you down since your terror may be instinctually correct. First you should expect to have your entire downpayment lost as soon as you write the check. It’s like a loan to an untrustworthy friend you’ll feel better if you kiss it goodbye. Second you should be ready willing and able to live in this dump a long time. Third you should have zero expectations of good things happening financially in the future. Once you relinquish these things you can relax.

[scaredyclassic]

I wasn’t even slightly nervous. Ok but seriously I was fearful and nauseated. I don’t aim to calm you down since your terror may be instinctually correct. First you should expect to have your entire downpayment lost as soon as you write the check. It’s like a loan to an untrustworthy friend you’ll feel better if you kiss it goodbye. Second you should be ready willing and able to live in this dump a long time. Third you should have zero expectations of good things happening financially in the future. Once you relinquish these things you can relax.

[scaredyclassic]

I wasn’t even slightly nervous. Ok but seriously I was fearful and nauseated. I don’t aim to calm you down since your terror may be instinctually correct. First you should expect to have your entire downpayment lost as soon as you write the check. It’s like a loan to an untrustworthy friend you’ll feel better if you kiss it goodbye. Second you should be ready willing and able to live in this dump a long time. Third you should have zero expectations of good things happening financially in the future. Once you relinquish these things you can relax.

[jpinpb]

I might add, if you are really worried and it’s your first home, why not just do FHA? Yes, you will have to pay PMI, but if you are so concerned about losing your downpayment, then it might be worth paying the extra monthly.

I mean, to give you a scenario (not to scare you, but worst case) property values lose more than 20%. You may end up not only losing 20%, but paying PMI anyway. Been there, done that when I had my place in Carmel Valley way back in the day.

For the bulls, to give you a positive side, if you went FHA and the market improved and the value goes up, you can try to get rid of the PMI, even though you didn’t put 20% down of your own money.

[jpinpb]

I might add, if you are really worried and it’s your first home, why not just do FHA? Yes, you will have to pay PMI, but if you are so concerned about losing your downpayment, then it might be worth paying the extra monthly.

I mean, to give you a scenario (not to scare you, but worst case) property values lose more than 20%. You may end up not only losing 20%, but paying PMI anyway. Been there, done that when I had my place in Carmel Valley way back in the day.

For the bulls, to give you a positive side, if you went FHA and the market improved and the value goes up, you can try to get rid of the PMI, even though you didn’t put 20% down of your own money.

[jpinpb]

I might add, if you are really worried and it’s your first home, why not just do FHA? Yes, you will have to pay PMI, but if you are so concerned about losing your downpayment, then it might be worth paying the extra monthly.

I mean, to give you a scenario (not to scare you, but worst case) property values lose more than 20%. You may end up not only losing 20%, but paying PMI anyway. Been there, done that when I had my place in Carmel Valley way back in the day.

For the bulls, to give you a positive side, if you went FHA and the market improved and the value goes up, you can try to get rid of the PMI, even though you didn’t put 20% down of your own money.

[jpinpb]

I might add, if you are really worried and it’s your first home, why not just do FHA? Yes, you will have to pay PMI, but if you are so concerned about losing your downpayment, then it might be worth paying the extra monthly.

I mean, to give you a scenario (not to scare you, but worst case) property values lose more than 20%. You may end up not only losing 20%, but paying PMI anyway. Been there, done that when I had my place in Carmel Valley way back in the day.

For the bulls, to give you a positive side, if you went FHA and the market improved and the value goes up, you can try to get rid of the PMI, even though you didn’t put 20% down of your own money.

[jpinpb]

I might add, if you are really worried and it’s your first home, why not just do FHA? Yes, you will have to pay PMI, but if you are so concerned about losing your downpayment, then it might be worth paying the extra monthly.

I mean, to give you a scenario (not to scare you, but worst case) property values lose more than 20%. You may end up not only losing 20%, but paying PMI anyway. Been there, done that when I had my place in Carmel Valley way back in the day.

For the bulls, to give you a positive side, if you went FHA and the market improved and the value goes up, you can try to get rid of the PMI, even though you didn’t put 20% down of your own money.

[CA renter]

jimmyle,

It is perfectly normal to be nervous when buying a house, especially if it’s your first house, AND considering what we’ve been through with the bubble, you’d be crazy NOT to be nervous.

You’ve been around awhile and should know your market pretty well. If you think you’re getting a decent deal, and if it’s perfectly affordable to you under various, negative circumstances (loss of job, medical emergency, etc.), then you should relax and enjoy the buying process.

Congratulations on your new home. Hope escrow goes smoothly, and that you enjoy your home for many years to come.

[CA renter]

jimmyle,

It is perfectly normal to be nervous when buying a house, especially if it’s your first house, AND considering what we’ve been through with the bubble, you’d be crazy NOT to be nervous.

You’ve been around awhile and should know your market pretty well. If you think you’re getting a decent deal, and if it’s perfectly affordable to you under various, negative circumstances (loss of job, medical emergency, etc.), then you should relax and enjoy the buying process.

Congratulations on your new home. Hope escrow goes smoothly, and that you enjoy your home for many years to come.

[CA renter]

jimmyle,

It is perfectly normal to be nervous when buying a house, especially if it’s your first house, AND considering what we’ve been through with the bubble, you’d be crazy NOT to be nervous.

You’ve been around awhile and should know your market pretty well. If you think you’re getting a decent deal, and if it’s perfectly affordable to you under various, negative circumstances (loss of job, medical emergency, etc.), then you should relax and enjoy the buying process.

Congratulations on your new home. Hope escrow goes smoothly, and that you enjoy your home for many years to come.

[CA renter]

jimmyle,

It is perfectly normal to be nervous when buying a house, especially if it’s your first house, AND considering what we’ve been through with the bubble, you’d be crazy NOT to be nervous.

You’ve been around awhile and should know your market pretty well. If you think you’re getting a decent deal, and if it’s perfectly affordable to you under various, negative circumstances (loss of job, medical emergency, etc.), then you should relax and enjoy the buying process.

Congratulations on your new home. Hope escrow goes smoothly, and that you enjoy your home for many years to come.

[Author]

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