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Wednesday, December 1, 2010

Becoming Home Owners: The Beginning

H and I have friends who are in the market for a house, and I figured it would be nice for me to start blogging about our own house hunting experience.  It wasn't all pretty butterflies at first, far from it in fact.  Here's a little background from the beginning...

I had just gotten back from my trip to the Motherland with my parents, and H suggested that we start looking at houses.  I was a bit shocked at first.  How could we afford such a thing when we were no where near ready to even plan and pay for a wedding?  I still hadn't found work yet, and H was the only person bringing in any bacon between the two of us.  Instead of being supportive, I would just sit and pout about how it's impossible.  Yeah I was being a great fiance at the time, right?  Well H was convinced that it would all work out, and he was definitely ready to move out pronto. 

Let's access our financial situation for a bit.  I wasn't too shabby.  While I didn't have any income coming in, I also didn't have very much debt to add to our relationship.  I just completed college, and I had less than $4k loan to pay off from my last year (the number is actually astounding b/c I should have owed them around $10k -- it's a story for another day).  I had plenty of time to slowly pay that off, and I wasn't worried.  H just finished paying off his car and every single debt in his name.  He's pretty awesome like that.  Sure, it took a couple of years, but now here we were with very little debt together.  That was enough to convince H that we were ready.

Now mentally we have been prepared for our own house for quite some time.  I had been living with H for the past two years under his parent's roof.  It's not very romantic (the living with his parents part), but it made a lot of sense for us.  We worked out any kinks that would occur when two people start to live together, and a house was only fitting for the next step of our living togetherness.  Just add in a whole lot more square footage and the responsibility of home ownership, and we would be set.  Okay that sounds a bit overwhelming, but we were prepared for it all.

Why not ease into moving into an apartment or renting a house first?  We saw renting as a form of throwing our money away because we had no return whatsoever.  Renting is a very good step for most relationships.  I figured we had surpassed the renting part by living together with H's parents.  We were technically paying "rent" every month in the form of utility bills, but it was far less fun if we had been completely on our own.

So we have very little debt in our names, but we also didn't have very much money saved up.  That is where Yin starts to panic and sees no use in looking for homes at this time.  Well I should just leave it up to H because he always finds a way for everything to work out. :)

Well it didn't take too long to convince me because I started packing a few weeks after our initial conversation.  We had yet to physically look at houses yet, but I was determined to start packing early.  Crazy Yin.


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