Wednesday, July 14, 2010

The biggest decision I've ever had to make...


The biggest decision I've ever had to make is whether to use Grape Jelly or Strawberry Jelly! lol! Just kidding. My big decision is that I have been propositioned to buy a condo. MY VERY OWN CONDO!!! I never have been interested much in buying a house because A)I can't afford it & B)The maintenance on it omg! C)I really don't know how to do yard work at all. So condo it is. Let me tell you about what I would be buying...

It's a studio apartment with 3 closets, a large walk-in with shelves, a linen & a smaller closet for coats; the kitchen is it's on separate room with enough space for a small dinette attachment; second floor so I don't have to hear people above me; free laundry; parking space; one large living area with an open ceiling towards the stairs & I know the people because the condo is in the same development as my parents. Yeahhh that would seem like a drawback because I don't want another "Everyone loves Raymond" deal but I'm not in the same building or parking lot. It would be enough space.


I...well it's completely do-able. I can afford it, I might be able to be approved for a 4.125% mortgage rate which is a steal. The common charges are low...and most of all, I'D HAVE MY OWN PLACE!! I could decorate it however I want, I can have whoever stay over *Cough* CJ *Cough* & I'd be out of my parents house. I don't want to rent ever because it really doesn't pay for me. My mortgage payment + internet bill + electric bill would be less than renting this condo. It's just that...this is a big step. A *HUGE* step. Am I ready to take this plunge?

It wouldn't bankrupt me doing this either & I would even get money for closing costs free & clear. I feel like I'd be a fool to let this opportunity go to waste but if I buy something & CJ & I's relationship gets more serious would he move in with me? Or would I have to rent this out & move in with him? I don't know. There is alot to figure. It's not the largest of spaces but for me, it might be just right. This is really happening fast & I don't know if its too fast. I'm honestly terrified. But like my boss said, "You have to take big risks to get big rewards."

It's normal to be scared about buying your first place right? I mean I feel older than I am, having 4 surgeries in 2 years & drama that could take days to write does make you feel jaded but this is real. This is really happening. I'm not sure about this making this decision. I'm going to see it again tomorrow & maybe CJ will see it too to help me out on the choice.

I would love a place of my own...I've been dreaming of it for like ever. I want to decorate & make it my own. Maybe this is it? Maybe? I'll keep ya posted. Any Advice would be fabulous or tell me about your first place? Were you scared? I need all the help I can get!

32 comments:

Abby Kihano said...

dont do it ! jk
good luck girly!
it sounds like so much fun buying your own home and what not.

Lu Lu in Los Angeles said...

Do it.

I bought my first condo when I was 25 and lived there for 7 years and have been a homeowner ever since. You won't regret it, you'll probably never go back to renting.

I'm happy for you, I hope it works out!!!

Alicia said...

that's so exciting!! and lady, i was 24 when we bought our house. it was a giant leap of faith and it was the best decision we've made! i hope that you get it all sorted out and do what's best for you! good luck sorting it all out :)

Diana Mieczan said...

I think its normal that you are worried but I think its a great decision and you should so go for it....It looks like you know what you getting yourself into ( financially) and don’t worry about the rest....Property is a great investment...believe me:)
I am so happy that everything is falling into place for you, darling :)
Muah

Madeleine said...

It sounds like you've been thinking through all the pros and cons of doing this. I wish I was in a position to buy my own place. But in the end, only you can make this decision. So think long and hard. If it's right for you, you'll know.
Best of luck. xx.

Erika ~TiptoeButterfly~ said...

it's BIG when u get ur own place - i was scared - it's A LOT of responsability and then your finally a "grown-up" - and well i just never really wanted to be "one" of those .. but having ur own place is something u end up being SO proud of, and everyone around you will be too! - and it's SOOOOOO much fun decorating and MAKING it your own! .. i think u'll LOVE IT in the end!


*kiss kiss*
Erika
~Tiptoe Butterfly~

perfectionishuman said...

I say do it!
It's completely normal and even expected to be a bit hesitant because it *is* a big deal for you..it's a huge step.
If it feels like the right thing then theres no looking back! Good luck :) xx

Bathwater said...

I think it is a good idea. A condo is a good place to start, you can always rent it if things change.

It sounds like it is in a good location which is the most important thing. And get a feel for how much it will cost to heat and cool the place too if you can you don't want to be surprised by that.

just call me jo said...

There should be some consternation involved with such a big purchase. I was always scared spitless every time we bought a different house. I love owning my own place. Always have...Good luck. Sounds as if you've done good research. Keep us posted. I'll be thinking of you.

Little Ms Blogger said...

BUY IT!!!!!!

You can always rent or sell and have a nice downpayment on something bigger down the road.

It's a tax break and will give you a huge sense of independence.

Do it!

Katy Mary said...

Totally normal to be scared and nervous! I say go for it!! It's not everyday you find something afforable that could also fit your lifestyle. And like you said, it's cheaper to own it than rent it so if you did move in with CJ you could rent it and make money!

tess said...

go for it! be independent! I know its scary, but you can do it! you rock, Mel, so I know you'll rock this too!

Tayebug said...

It will be the best decision you've made. DO IT! Now is a great time to buy, sounds like a great rate AND it isn't permanent. It's not like you can't sell it years down the road AND make a profit.

Audrey Allure said...

It could be scary - but it's a good scary! This sounds like a perfect opportunity & such a great deal :)

bananas. said...

that's awesome melanie! you should DEFINITELY do it!!! and at that rate, it's a steal!

owning a home is a big step and you're bound to be nervous but once you just do it and start living the mortgage lifestyle, you really do feel like a grown up. plus it's YOURS and you can do ANYTHING you want to it. that alone should convince you to do it.

Same Sweet Girl: Memoir of a Southern Belle said...

This is so exciting!!!! It definitely sounds like you have done research and thought about this. It isn't like you are jumping in to something silly. It would be great to have your own place and of course it's normal to be scared. It's a big change and you have more responsibilities...BUT it's necessary to move on in life and take those steps. It will be hard sometimes but you will find it is def worth it!! Good luck girl! :)

drollgirl said...

DO IT!!!

i want to buy my own place, but can't quite afford it. it is frustrating. but renting from a twat landlord is SUPER FRUSTRATING, and i'd rather just have my own place. someday. hopefully!

i hope this all works out!!!!!!!!!!

Meghan said...

YES! Do it! It sounds like an amazing deal!!! Seriously, I do not own yet and I am dying to - it's way better than renting!

Jaime @ La vie...J'aime said...

Wow- congrats to you! I wish I was financially stable enough lol ;)

Rachel {Inspiration in Italy} said...

Congtats, that is so exciting!!! If you like your job and don't plan to have any dramatic career path in the near future than go for it! Also if you love the area that you live. For me, I was looking to buy a condo or house in San Diego but I'm so glad that I didn't because it would have been very difficult to sell when moving to Italy. I had no idea that my life was going to change so dramatically, but I knew that I didn't like my job and would want a change in the near future. But I'm a completely different case, I'm crazy! haha Buying a condo sounds so amazing.... Good luck! :)

xoxo
Rachel

C'est La Vie said...

oh man i wish i could tell you what to do! you're being smart figuring it all out! just make sure you are prepared if something happens :) congrats!!

woodlandsblonde said...

Although there are some more costs associated with ownership, having property in your name is a HUGE plus. You can almost guarantee that having this as an investment - that the price of the condo will increase = money in your pocket in the long-run. Even if you and CJ work out, you can rent the space and have someone else paying your mortgage. If it's affordable, that means you're putting money in to something that you will OWN! This is awesome!!!

I say, definitely look at the pros and cons - and do some research, but I plan to buy (if I'm ready) as soon as possible!!!!! DO IT! :0)

Plus it's your own space- you will find so much clarity - that alone is worth it.

Juggling Thoughts @ One Fine Wire said...

Girl, you need to GO FOR IT! Congrats on the proposition :) The hubby and I just bought 2 1/2 months ago and are loving our new home! Good luck with the process!

Stop by One Fine Wire if you get a chance, I'd love for you to check out our new house!
www.finewire.blogspot.com

So nice to meet you!

Tights Lover said...

I was horrified when I bought my first condo. There are a lot of expenses, and things will sometimes go wrong...but...(here comes the financial analyst in me) building equity is important..especially at that interest rate.

There'll most likely be some tough times, but for the most part it will be rewarding. There's nothing like owning your own place. I think you'll be happy if you do it.

You can always sell or rent and upgrade if you need more space someday.

Kris said...

So exciting! LIVE IT UP!

angel6033 said...

sounds like an amazing opportunity, its only normal for you to be apprehensive and scared, it is a very big step. It seems like such a dream though, if after thinking it through it still seems like such a great deal I say go for it! after everything you have been though I am sure you can deal with owning a place of your own:)

Sheri said...

I think it sounds like a great idea! If all of your finances and such are great and your job is secure, it is a def. yes for my vote. :) Owning is so much more beneficial than renting! I'll never rent again. Good luck with everything ::hugs::

CAPow! said...

I'm jealous! M & I are trying to save up for our own place....we are so over apartments!

Aron said...

owning a house is awesome, but it does tie you down. I think you should want to live there for at least 5 years.
Good luck!

Golden said...

That place sounds like a steal! I don't know how old you are but I think moving out of your parent's nest will do you good. Not only will it make you responsible but you'll get to feel how to live in the outside world. Go for it hun, as long as you can afford the place. I don't see anything wrong with it. :)

By the way, I am currently holding a giveaway. The winner will win $40 gift certificate. I hope you don't mind joining it. Here's the link to the giveaway:

http://www.goldensdiary.com/2010/07/take-home-40-gift-certificate.html

Thank you!

Lots of love,

seriouslyright? said...

DO IT!!!

<3

Heather Taylor said...

You must get this place!

I was terrified when I first decided to rent a place and sign my name to a lease with my roommates, but it has been so, so worth it! This is going to be great for you, with tremendous opportunities!

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