So, our slipping home value is another worry that keeps me up at night. How much has it slipped? Let's say, close to 30%. That's a whole lotta money.
Some of my poor friends and family (sorry, Anna! sorry, Mom!) hear me lament this nearly every time we're together. It's one of those things that forms a cold, hard lump in the pit of your stomach and won't budge. As they say, hindsight is 20/20, yada yada. But I wish we had been just a teensy bit more patient when buying a home. As it was, we broke a lease just to get into this place. Having just moved from California, where home prices were mind-blowingly out of whack, this house felt like a steal at the time. We wanted to 'get in on the market' before it was too late. Result: overpaying, even at the peak of the bubble.
Things like our recent re-pipe escapade lead me to fantasize about the brand new home we could have bought now, complete with brand new pipes and a shower that doesn't leak into my daughter's bedroom. The impending sale of my parent's home, the home I grew up in and which my mom would wish upon me if she could, also makes me wistful for what could have been (more room, stunning neighborhood, etc....).
I try to remind myself about the good things we do have, and I am grateful for them, really! We have a good home with adequate space in a good neighborhood, the one where Christian grew up. Things could be much worse. Unfortunately, the lump in my stomach won't listen to reason.
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I completely understand where you are coming from. We too bought our place at the peak of the market, right before it started to tumble. 20-20 hindsight says we never should have bought it, especially since it's now being rented out and the rent money doesn't cover the mortgage payment. With our ARM set to reset early next year, the worry of owning a home (one that we don't live in anymore) grows, especially with the possibility of rising payments! We are grateful that we had a decent place to live that we could decorate as we wanted, but there is still that lingering sense of regret and worry. Yikes!
ReplyDeleteYour mom is selling her house??? I did not know this... where will they live? Oh, jeez, I really need to call her.
ReplyDeleteThey're moving to an 55+ community in Deland. So, they are getting away from Jeff, and hopefully he won't try to make it difficult.
ReplyDeleteOh yeah... I definitely need to call her.
ReplyDelete