Super Nervous about Buying

[rent4now]

Wanted to get some outside perspective on if now is a bad time to buy?

We are a single income household with 2 kids.
With the uncertainty of the economy, jobs etc i’m really nervous about pulling the trigger on buying a home right now!

On one hand we love the location where we live even without a yard and a lot of room. But we are quickly outgrowing our current townhouse.

The other part of me would love to get back in the market and have a bigger place for our family.

Would it be prudent as the sole financial provider to stay put and have a good nest egg in case the economy tanks even more?

[carlsbadworker]

Income is not an issue here, liquidity is more important. Unlike corporate bond, mortgage payment won’t rise when you lose your job/income. It depends on how many months you can live without getting a single paycheck anywhere.

[carlsbadworker]

Income is not an issue here, liquidity is more important. Unlike corporate bond, mortgage payment won’t rise when you lose your job/income. It depends on how many months you can live without getting a single paycheck anywhere.

[carlsbadworker]

Income is not an issue here, liquidity is more important. Unlike corporate bond, mortgage payment won’t rise when you lose your job/income. It depends on how many months you can live without getting a single paycheck anywhere.

[carlsbadworker]

Income is not an issue here, liquidity is more important. Unlike corporate bond, mortgage payment won’t rise when you lose your job/income. It depends on how many months you can live without getting a single paycheck anywhere.

[carlsbadworker]

Income is not an issue here, liquidity is more important. Unlike corporate bond, mortgage payment won’t rise when you lose your job/income. It depends on how many months you can live without getting a single paycheck anywhere.

[rent4now]

I plan on having 6 months of reserves after our downpayment/closing costs are payed.

A couple of my friends have lost their jobs recently which was a big wake up call.

If the economy continues to tank and more jobs are lost I think it would be better to sit on the sidelines with cash?

[rent4now]

I plan on having 6 months of reserves after our downpayment/closing costs are payed.

A couple of my friends have lost their jobs recently which was a big wake up call.

If the economy continues to tank and more jobs are lost I think it would be better to sit on the sidelines with cash?

[rent4now]

I plan on having 6 months of reserves after our downpayment/closing costs are payed.

A couple of my friends have lost their jobs recently which was a big wake up call.

If the economy continues to tank and more jobs are lost I think it would be better to sit on the sidelines with cash?

[rent4now]

I plan on having 6 months of reserves after our downpayment/closing costs are payed.

A couple of my friends have lost their jobs recently which was a big wake up call.

If the economy continues to tank and more jobs are lost I think it would be better to sit on the sidelines with cash?

[rent4now]

I plan on having 6 months of reserves after our downpayment/closing costs are payed.

A couple of my friends have lost their jobs recently which was a big wake up call.

If the economy continues to tank and more jobs are lost I think it would be better to sit on the sidelines with cash?

[zzz]

this has been discussed quite a bit, but 6 months isn’t enough in reserves in this type of economy, what happens if there’s unforeseen expenses. if the economy continues to tank and you lose your job, it may take a lot longer than 6 months to find a job and you’ll be paying the exorbitant costs of cobra. since you have a family, its not like you can just run out of cash and go crash on a buddies couch. you should have at minimum 1-1.5 yrs in reserves if not more.

it doesn’t sound like a good move to buy when you have little in cash reserves and job uncertainty.

[zzz]

this has been discussed quite a bit, but 6 months isn’t enough in reserves in this type of economy, what happens if there’s unforeseen expenses. if the economy continues to tank and you lose your job, it may take a lot longer than 6 months to find a job and you’ll be paying the exorbitant costs of cobra. since you have a family, its not like you can just run out of cash and go crash on a buddies couch. you should have at minimum 1-1.5 yrs in reserves if not more.

it doesn’t sound like a good move to buy when you have little in cash reserves and job uncertainty.

[zzz]

this has been discussed quite a bit, but 6 months isn’t enough in reserves in this type of economy, what happens if there’s unforeseen expenses. if the economy continues to tank and you lose your job, it may take a lot longer than 6 months to find a job and you’ll be paying the exorbitant costs of cobra. since you have a family, its not like you can just run out of cash and go crash on a buddies couch. you should have at minimum 1-1.5 yrs in reserves if not more.

it doesn’t sound like a good move to buy when you have little in cash reserves and job uncertainty.

[zzz]

this has been discussed quite a bit, but 6 months isn’t enough in reserves in this type of economy, what happens if there’s unforeseen expenses. if the economy continues to tank and you lose your job, it may take a lot longer than 6 months to find a job and you’ll be paying the exorbitant costs of cobra. since you have a family, its not like you can just run out of cash and go crash on a buddies couch. you should have at minimum 1-1.5 yrs in reserves if not more.

it doesn’t sound like a good move to buy when you have little in cash reserves and job uncertainty.

[Author]

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