Super Nervous about Buying

[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.

[earlyretirement]

The answer is fairly simple, IMHO. On ANY investment (not just a home) if you are “really nervous” about making the investment then you shouldn’t do it. You have to go into any investment being fully comfortable. If you aren’t then you should wait until you are comfortable.

I agree with the others. This isn’t the type of economic environment where having only 6 months worth of savings is enough. I know several former executives that have been out of work for over 1 year.

If you are that nervous about it, don’t do it. Just continue to rent.

[earlyretirement]

The answer is fairly simple, IMHO. On ANY investment (not just a home) if you are “really nervous” about making the investment then you shouldn’t do it. You have to go into any investment being fully comfortable. If you aren’t then you should wait until you are comfortable.

I agree with the others. This isn’t the type of economic environment where having only 6 months worth of savings is enough. I know several former executives that have been out of work for over 1 year.

If you are that nervous about it, don’t do it. Just continue to rent.

[earlyretirement]

The answer is fairly simple, IMHO. On ANY investment (not just a home) if you are “really nervous” about making the investment then you shouldn’t do it. You have to go into any investment being fully comfortable. If you aren’t then you should wait until you are comfortable.

I agree with the others. This isn’t the type of economic environment where having only 6 months worth of savings is enough. I know several former executives that have been out of work for over 1 year.

If you are that nervous about it, don’t do it. Just continue to rent.

[earlyretirement]

The answer is fairly simple, IMHO. On ANY investment (not just a home) if you are “really nervous” about making the investment then you shouldn’t do it. You have to go into any investment being fully comfortable. If you aren’t then you should wait until you are comfortable.

I agree with the others. This isn’t the type of economic environment where having only 6 months worth of savings is enough. I know several former executives that have been out of work for over 1 year.

If you are that nervous about it, don’t do it. Just continue to rent.

[earlyretirement]

The answer is fairly simple, IMHO. On ANY investment (not just a home) if you are “really nervous” about making the investment then you shouldn’t do it. You have to go into any investment being fully comfortable. If you aren’t then you should wait until you are comfortable.

I agree with the others. This isn’t the type of economic environment where having only 6 months worth of savings is enough. I know several former executives that have been out of work for over 1 year.

If you are that nervous about it, don’t do it. Just continue to rent.

[rent4now]

It has been discussed but the economy seems to be in worse condition now than it did 6 months ago?

Right now my job is pretty secure but who knows how things play out in the next couple years.

If we do not buy soon we will certainly stock pile the cash reserves.

I would not be surprised if the RE market drops another 10% or more so it could really work for us to wait and save.

[rent4now]

It has been discussed but the economy seems to be in worse condition now than it did 6 months ago?

Right now my job is pretty secure but who knows how things play out in the next couple years.

If we do not buy soon we will certainly stock pile the cash reserves.

I would not be surprised if the RE market drops another 10% or more so it could really work for us to wait and save.

[rent4now]

It has been discussed but the economy seems to be in worse condition now than it did 6 months ago?

Right now my job is pretty secure but who knows how things play out in the next couple years.

If we do not buy soon we will certainly stock pile the cash reserves.

I would not be surprised if the RE market drops another 10% or more so it could really work for us to wait and save.

[rent4now]

It has been discussed but the economy seems to be in worse condition now than it did 6 months ago?

Right now my job is pretty secure but who knows how things play out in the next couple years.

If we do not buy soon we will certainly stock pile the cash reserves.

I would not be surprised if the RE market drops another 10% or more so it could really work for us to wait and save.

[rent4now]

It has been discussed but the economy seems to be in worse condition now than it did 6 months ago?

Right now my job is pretty secure but who knows how things play out in the next couple years.

If we do not buy soon we will certainly stock pile the cash reserves.

I would not be surprised if the RE market drops another 10% or more so it could really work for us to wait and save.

[pencilneck]

“If you are that nervous about it, don’t do it.”

I have no particular advice but I think that feeling nervous in this environment is particularly healthy.

[pencilneck]

“If you are that nervous about it, don’t do it.”

I have no particular advice but I think that feeling nervous in this environment is particularly healthy.

[pencilneck]

“If you are that nervous about it, don’t do it.”

I have no particular advice but I think that feeling nervous in this environment is particularly healthy.

[pencilneck]

“If you are that nervous about it, don’t do it.”

I have no particular advice but I think that feeling nervous in this environment is particularly healthy.

[Author]

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