Hello fellow tempers,
First of all thank you for taking time to read this!
I have been thinking of buying a house for a while now, i just never knew if i can actually afford it, single man with no other debt the only thing i spend money on is food, gas and videogames (barely buy clothes because well the ones i have are good enough lol). Recently i went to look for houses just to see what's out there, maybe my first mistake is that i actually got contacted by an agent and let her do most of the process... and a week later i submitted an offer, this offer got accepted and suddenly i found myself in a very tricky situation because well..
I DO NOT KNOW IF I CAN ACTUALLY AFFORD A HOUSE
According to the lender i am pre-approved for x amount of money and that's fine and dandy BUT they always base their numbers on gross pay and not the actual money i get home.
Doing the math i think i am able to afford it because i dont spend on anything and save a lot of the money i make, my fear comes with the unknown, not knowing if i will still have a job in 5 years, inflation, markets crashing etc etc... And what would i do if that case were to happen, im afraid of losing the money i spent on it if the bank were to take the house away.
I am a big worrier, I worry about everything all the time, so this is nothing new to me, to have these worst-case scenarios in my head.
How many of you have gone thru this process? By yourselves? Because i see most of the people around go and buy a house with their partners which i think for me would be SOOO much easier but I'm forever alone and will have to suck it up.
Please some advise would be greatly appreciated, there is an inspection on the home today and as far as i know if i dont get a loan the whole contract thing falls apart but this scenario makes my head spin and go two ways:
1. If i get the loan then fuck!!! I am getting a house, its freaking happening.. can't get sick now, can't spend money... gotta work work work until i pay it off, the sooner the better because interest rates are going to eat me alive.
2. Okay no house, gotta keep living with my annoying roommate who complaints a lot because of my livestreams fon YouTube... will keep paying rent and basically throwing money away because rent money never comes back.. i could keep saving up money until maybe i can afford a house upfront (7-9 years from now).
Maybe i should make a pros and cons of getting a house?
Again, thanks for reading and apologies if the post is all over the place, that probably is a good indication of how my head is at the moment. lol
First of all thank you for taking time to read this!
I have been thinking of buying a house for a while now, i just never knew if i can actually afford it, single man with no other debt the only thing i spend money on is food, gas and videogames (barely buy clothes because well the ones i have are good enough lol). Recently i went to look for houses just to see what's out there, maybe my first mistake is that i actually got contacted by an agent and let her do most of the process... and a week later i submitted an offer, this offer got accepted and suddenly i found myself in a very tricky situation because well..
I DO NOT KNOW IF I CAN ACTUALLY AFFORD A HOUSE
According to the lender i am pre-approved for x amount of money and that's fine and dandy BUT they always base their numbers on gross pay and not the actual money i get home.
Doing the math i think i am able to afford it because i dont spend on anything and save a lot of the money i make, my fear comes with the unknown, not knowing if i will still have a job in 5 years, inflation, markets crashing etc etc... And what would i do if that case were to happen, im afraid of losing the money i spent on it if the bank were to take the house away.
I am a big worrier, I worry about everything all the time, so this is nothing new to me, to have these worst-case scenarios in my head.
How many of you have gone thru this process? By yourselves? Because i see most of the people around go and buy a house with their partners which i think for me would be SOOO much easier but I'm forever alone and will have to suck it up.
Please some advise would be greatly appreciated, there is an inspection on the home today and as far as i know if i dont get a loan the whole contract thing falls apart but this scenario makes my head spin and go two ways:
1. If i get the loan then fuck!!! I am getting a house, its freaking happening.. can't get sick now, can't spend money... gotta work work work until i pay it off, the sooner the better because interest rates are going to eat me alive.
2. Okay no house, gotta keep living with my annoying roommate who complaints a lot because of my livestreams fon YouTube... will keep paying rent and basically throwing money away because rent money never comes back.. i could keep saving up money until maybe i can afford a house upfront (7-9 years from now).
Maybe i should make a pros and cons of getting a house?
Again, thanks for reading and apologies if the post is all over the place, that probably is a good indication of how my head is at the moment. lol
