Bookstore, hormones, apathy… and I’m outta here
Note: I’ll be away all this week… without a computer. Shocking, I know! But don’t worry, I’ll be back by the weekend, hopefully with some semi-warm-weather stories to share. I wish I could say this was a vacation, but alas, it’s a dorky business trip. Hope I don’t get sick on the plane!
This weekend was fairly uneventful, particularly since I’m still recovering from my massive, plague-like, all-encompassing, germ-a-palooza of a cold. Ewww. Isn’t it ironic that as soon as I finally got some good news about my general health, I got slammed with a stupid cold??? Oh, Alanis, I think you were on to something with that song… Anyway, aside from spending much of the past week in bed, I did actually make it to the bookstore today, one of my favorite places to hang out, as you know. I always get a kick out of stuff I find at the bookstore, and today was no exception. I almost puked as I passed the “Plan Your Wedding” table (barf, barf, barf!), but I literally laughed out loud when I saw this little gem sitting at the end of an aisle: “Dating Makes You Want To Die: (But You Have to Do It Anyway).” Hilarious! There is a little quote on the back cover that says that being attacked by a wolverine is better than going on a date. Clever, and so true. Hahaha. I didn’t read the book and have no idea if it’s any good or not, but the cover certainly caught my eye.
I wanted to pick up something semi-interesting to read on the plane tomorrow, and I wound up wandering the aisles for a really long time before I finally honed in on something worthwhile. First, I picked up a Martha Stewart Living, which I always enjoy. Damn, I wish I could be more like Martha! She is so perfect, and all her little cookies and decorations make me drool with envy. Perhaps one day I will reach Martha-level perfection. Until then, I’ll keep writing this blog. : ) Anyway, after much hemming and hawing (I never use that phrase, BTW), I finally decided on an interesting read… are you sitting down? Are you sure??? Well, I warned you… here it is: “How to Buy a Condominium or Townhouse.” Whoa. I know.Â
Now don’t go getting all excited and getting your panties in a bunch. I am NOT ready to actually buy anything yet, but I AM ready to start thinking about it a little more seriously. I’m almost 30, god damn it, and it would be nice to get this little (HUGE) milestone out of the way already. I figured that a nice, long plane ride or two would be the perfect time to figure out what the hell I should be doing. One step along the path to getting all my shit in order. Granted, the biggest problem with my little plan is gathering up enough dough to make it happen. I’m sure I’ve mentioned this before, but my dorky salary is not exactly enviable, so it will be a slow but steady process. Anyway, I was kind of proud of myself for picking up this book instead of, say, “War and Peace,” which I still really, really want to read one of these days. So I’m still forging ahead…
In other news, my hormones have been doing some strange things lately. I know I’m not pregnant (not getting laid has one advantage, I guess), so I wonder what’s up… Things have been a little out-of-whack on the female biology front these days. WTF???
Wait… was that too much information? Sorry, guys.
As a final note, this blog is getting really fucking depressing, don’t you think? All I have to write about these days is illness, medicine, song lyrics, and my general state of blah-ness and total apathy toward basically everything. I’ll tell ya, I miss my old self. I’ve been in this crap-tastic funk ever since “the incident” (which was FOUR MONTHS AGO, by the way), and I can’t seem to shake it off. Damn it! Perhaps I really do need some professional help (as many real-life people have suggested recently), but I just can’t seem to justify spending my real estate fund on a therapist. Ahhhhh… choices. Such is life.
Anyway, I’m off to sunny Florida! I really, really hope it’s warm down there, because I am SICK of the winter. I’m done with this bullshit!!! Winter, you can kiss my sweet little ass.Â
Hope you all have a good week. : )
As far as buying goes, I have always thought it was a stupid waste of money. Once adjusted for inflation, homes do NOT appreciate over time but merely break even. While you might break even if you sell the home eventually, as the current economic crisis makes all too clear – you might not.
Also, since you need a 20% down payment any more to get a decent place at a good rate, let me tell you, there are TONS of other ways to invest that money that will provide a far bigger return (say, 7%) than merely breaking even will. Why would you tie up $20-30K at the minimum that you could invest in an IRA, 401(k), or something else that will definitely provide a return?
I was THRILLED when the BF came around to my way of thinking on this. When we are getting ready to retire and have enough money to buy a home outright and really have it be ours, then we will do it. While we are young and want to be mobile, we would rather have the flexibility of renting rather than “owning,” which is really just renting from the bank anyway, since you don’t actually own anything until you’ve made the last payment.
Home ownership is for suckers and fools, IMO. But I’m glad you’re getting over your cold and onto someplace warm! And I think your mental health (i.e., a shrink or whatever) is a FAR better investment than a home.
Honey’s last blog post..10 Twitter Hotties You Should Follow
February 1st, 2009 at 1:06 pmHope you are are having a little fun and sun with ur business trip. Can’t wait till u’re back. =)
NewWrldYankee’s last blog post..Woohoo!!! Oh…yea….
February 2nd, 2009 at 10:13 amWhile I don’t agree with all of Honey’s post, unless you have a down payment and will be staying in the condo/ house you buy for at least 5 years, then it really isn’t worth it.
I bought a place right before I went to law school. I thought “well, I’ll be here at least three years so I might as well get some equity as opposed to paying rent.” Then I met my (now) fiance three months later and had to sell my place to move in with him two years later. I lost money.
Because he also owned a place, when we moved out to MA we tried to sell it but the market was awful. So we now have renters. There are A LOT of things to think about before buying…..
KT’s last blog post..Superbowl
February 2nd, 2009 at 4:01 pmI dunno I bought a house with no money up front and 5.5% interest 3 years ago. So I obviously disagree with Honeys for fools thing ideal. My house is also worth 20 thousand more then when I bought it so when I do move I should be just fine. Besides it sure feels nice knowing that something is yours and you can do anything you want to it.
February 2nd, 2009 at 4:37 pmYeah, homeownership is tricky and has it’s own can of worms. But at least it’s going back into an investment; apartment rent is basically throwing money away. Unfortunately an apartment or rental sometimes fits some means better than others. While I can only rent right now, it is my goal to own my own home someday, too.
If for anything else, so I can crack up my music/movies as loud as I want and not worry about bothering someone adjacent.
February 2nd, 2009 at 10:53 pmHoney is dead wrong. A mortgage + maintenance fees on a condo doesn’t cost much more than rent, and instead of making someone else rich you’re building your own equity. A wise real estate investment will go up at a higher rate than other savings mechanisms, plus you get the added utility of getting to live there. If you rent all your life, you probably won’t be able to buy a house for cash when you retire. Take advantage of a mortgage as an investment mechanism.
To KT’s point, it is a long-term purchase. It’s extremely important to get exactly what you want, because moving is kind of a big deal. (lawyers, real estate fees, moving costs, land transfer taxes…)
I just bought my first condo about six months ago. Best thing I’ve ever done. I got exactly what I wanted and now live in the centre of the universe (ok, my universe).
The best advice I can give:
- Look at LOTS of places. You’ll start to get an idea of what you like and don’t like, which will help to narrow your search. [I eventually settled on one building and waited for something to come up for sale] Don’t let a real estate agent talk you into buying what you don’t want. They only care about getting their commission, not if you’re happy. If your agent isn’t listening to you, fire their ass and get another one.
- Create a monthly budget to figure out what you can afford. See your banker and get an idea of how big a mortgage they’ll give you. Take advantage of these low interest rates. Lock in your mortgage so you can plan your expenses. Interest rates WILL be going back up — you could get screwed if you have a floating rate. Don’t let the bank talk you into getting one of those evil mortgages that you can “top up” like a line of credit. You’ll never pay it off.
- Be prepared for tight cashflow and strict discipline for at least your first year. Dramatically cut back your spending now so you’ll know what life will be like — put the difference in a savings account and start building your downpayment. E.g. Those shoes you want but know you don’t need? Don’t buy them. Put that $400 in your condo fund. Repeat.
* DON’T SETTLE OR COMPROMISE.
February 2nd, 2009 at 10:55 pm“A wise real estate investment will go up at a higher rate than other savings mechanisms”
WISE being the key word. Buying in this market is not.
In inflation-adjusted terms, RE appreciates on a long-term trendline of about 1% per annum. It always comes back to the trendline after a deviation. In fact, “deviation” doesn’t even begin to describe what just happened. Buckle-up.
I want to buy too. Badly. I have about a year’s salary saved. I’m not putting a single dime of that money in front of the real estate trainwreck.
February 7th, 2009 at 7:02 amAll – Thanks for all your homeownership advice. Truth is, I am definitely not educated enough about this issue to contribute meaningfully to the conversation. Hence, buying that book to begin the process of educating myself and figuring out how the whole real estate thing works. It is a huge undertaking, and something that I’ll be considering very carefully. While I may be impulsive and foolish when it comes to men (hahaha, I’m hopeless when it comes to men, actually), I am extremely cautious with my money. We’ll see how it all pans out. For now, I just need to get educated and take it one step at a time.
The Dateable Dork’s last blog post..Back
February 7th, 2009 at 3:41 pm“hahaha, I’m hopeless when it comes to men, actually”
Not in the slightest, my dear. You have a much more extensive fan club than a girl could ever ask for.
February 8th, 2009 at 12:08 am