Paleck.com

For about the last month or two I’ve been deciding and looking at different options. And through looking at all the different options for loans, terms and contracts (and anything else I have forgotten), I’ve decided two things. First that you have to be crazy to even think about buying a house and second that you have to be crazy to not buy a house.

Going back to the first thing, you would have to be crazy to buy a house. Searching for a house is hard enough. You basically have to make your decisions based off of a 5-10 minute tour of the property. Let me put that in context for an $150,000 condo/house and a seven minute tour, each of those minutes are worth approximately $21,428.57. Next up you put together an offer with your real estate agent. This is probably about 10 pages of legalese of how many different ways you can screw eachother over. Yes, I understand that a lot of it is to protect the buyer and seller from eachother, but still. If anyone else has bought or sold a house you know what I am talking about.
IF your offer is accepted or countered(which I am not going to go into) then you still have about a month’s worth of work. Now if memory serves once you agree on the terms and the price next you have to go apply for your loan if you don’t already have financing. Then there is a whole slew of things that need to be done. Property inspection, appraisals(so you know how much you are being screwed by), getting a title company. The list goes on and on and on.

Now if you opt for never buying a home and only renting you are still crazy. This one is much easier to explain. Say you pay $750 in just rent every month, that is $9,000 dollars a year, $45,000 in 5 years and $90,000 in 10 years. In other words you are throwing $9,000 down the toilet every year. It’s not doing anything for you. It’s going to someone else to pay off their mortgage or into someone’s bank account for them to retire on.

So now that I am going through this I am beginning to the think the homeless have it right, sleep on the streets with no rent or mortgage to pay. As for me I’ll continue my quest to become homeowner, broke with no room for error and utterly insane. In other news I am planning for my insanity early, if anyone is looking for a condo to rent I may be able to accomdate them as I will have a new address at the closest Mental Hospital.

This entry was posted on Wednesday, May 10th, 2006 at 9:15 pm and is filed under Life, Pointless. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.