How does anyone buy a house?!!

So we put in an offer on a co-op last night and this morning it was accepted. So now we have to do all of the mortgage stuff and all that and it got me thinking about what would happen if I lost my job. Now I'm totally psyched out and more stressed than excited.

I don't THINK I have to worry because my institution is trying REALLY hard not to lay anyone off and I'm not the newest in the office but you never know. I'm also getting a promotion and a raise soon but there's still some part of me that's so cautious (I get it from my mom).

Last week i was anxious because I wasn't sure if the co-op was any good (Forest Green in Islip). Then some very helpful brides gave me good feedback and we went to see it and it was nice and the price was right so we said okay, let's go. But now I'm all freaked out about money. Sigh.

Just needed to vent and see if anyone has felt the same.

its always going to be scary no matter what but you cant live like that....as long as you have a bit of a cushion for emergencies you'll be fine. Congratulations by the way!

We have actually been looking for a house since June. it's funny how they say there is so much on the market, there is, but it's over priced crappola !!!
Congrats for finding something !!! Don't worry about it though because now is the perfect time to buy if you can afford too, if you wait until things are more stable, the window of opportunity may close and then you maybe not be able to afford what you can afford now !
Thats how we look at it

---

Posted by gporka23

Its good that you are cautious. I am too!! FH and I bought a condo last year and if I lost my job we would seriously be screwed and would not afford the mortgage.

---

That's my worst fear right now! I guess we could always just sell it to get rid of it but it's causing me so much anxiety. It would nice to have a little money saved as a cushion and a little less debt but we're spending almost everything on this co-op. Ugh! I think I need a hug from my mom.

I pretty much have to go through with it because FH would probably dump me if I chickened out. I already chickened out on moving to NC (although I got a great raise and promotion out of it), he wouldn't handle it well if I didn't go through with this.

---

Posted by MrsList09

---

Posted by gporka23

Its good that you are cautious. I am too!! FH and I bought a condo last year and if I lost my job we would seriously be screwed and would not afford the mortgage.

---

That's my worst fear right now! I guess we could always just sell it to get rid of it but it's causing me so much anxiety. It would nice to have a little money saved as a cushion and a little less debt but we're spending almost everything on this co-op. Ugh! I think I need a hug from my mom.

I pretty much have to go through with it because FH would probably dump me if I chickened out. I already chickened out on moving to NC (although I got a great raise and promotion out of it), he wouldn't handle it well if I didn't go through with this.

---

Its ok! I say do it... I know how you feel. I used all my savings on our Condo and FH had no savings so we basically live paycheck to paycheck at the moment. I am hoping after the wedding we can rebuild the savings!! It is really scary to think how I could lose the place if something happened to one of our jobs but at the same time we own a place and that is awesome!!! You have to start somewhere. It is always going to be scary cause its a HUGE investment. So don't worry about what the future holds... cross that bridge when and if you get to it. You never know where life is going to take you honestly and sometimes you just have to roll with the punches!! So continue being cautious (thats AlWAYS a good thing) but don't pass up on the opportunity to own a condo. Trust me once its done and the closing is out of the way and you are moved in you will be SO excited.

---

Posted by gporka23

---

Posted by MrsList09

---

Posted by gporka23

Its good that you are cautious. I am too!! FH and I bought a condo last year and if I lost my job we would seriously be screwed and would not afford the mortgage.

---

That's my worst fear right now! I guess we could always just sell it to get rid of it but it's causing me so much anxiety. It would nice to have a little money saved as a cushion and a little less debt but we're spending almost everything on this co-op. Ugh! I think I need a hug from my mom.

I pretty much have to go through with it because FH would probably dump me if I chickened out. I already chickened out on moving to NC (although I got a great raise and promotion out of it), he wouldn't handle it well if I didn't go through with this.

---

Its ok! I say do it... I know how you feel. I used all my savings on our Condo and FH had no savings so we basically live paycheck to paycheck at the moment. I am hoping after the wedding we can rebuild the savings!! It is really scary to think how I could lose the place if something happened to one of our jobs but at the same time we own a place and that is awesome!!! You have to start somewhere. It is always going to be scary cause its a HUGE investment. So don't worry about what the future holds... cross that bridge when and if you get to it. You never know where life is going to take you honestly and sometimes you just have to roll with the punches!! So continue being cautious (thats AlWAYS a good thing) but don't pass up on the opportunity to own a condo. Trust me once its done and the closing is out of the way and you are moved in you will be SO excited.

---

Thank you for the pep talk! i really appreciate it and it does make me feel better. I IM'd my crazy rantings and concerns to FH and he just responded 'We're doing it'. So that's that!

look at it this way, whether you are renting or own a home and pay a mortgage, you would be in the exact same situation if one of you lost your job. Even if you paid rent you still have to pay that every month and you still have all those bills. Not like your landlord will be lenient about it.

When you own something, if god forbid anything happened you can refinance if you REALLY had to. Its more of an investment and youre putting money into something that you will get money back from in the future, and all the money you pay each month is going towards that investment, not into somebody elses pockets.

congrats...

I worry about the same thing with my fh... he owns his own home and though he can pay for it on his salary, if he lost his job right now i don't know what he would do... i'm currently not working (i'm a full time nursing student) but i worry about it all time ...

I'll be much happier when i graduate and i can finally work !!!

---

Posted by jen919ifer

We have actually been looking for a house since June. it's funny how they say there is so much on the market, there is, but it's over priced crappola !!!
Congrats for finding something !!! Don't worry about it though because now is the perfect time to buy if you can afford too, if you wait until things are more stable, the window of opportunity may close and then you maybe not be able to afford what you can afford now !
Thats how we look at it

---

DITTO! All we keep hearing is how great this market is for buyers and here we are ready, willing and able to buy a house and we can't find a decent one! It's making us both very frustrated!

---

Posted by MrsList09

---

Posted by gporka23

Its good that you are cautious. I am too!! FH and I bought a condo last year and if I lost my job we would seriously be screwed and would not afford the mortgage.

---

That's my worst fear right now! I guess we could always just sell it to get rid of it but it's causing me so much anxiety. It would nice to have a little money saved as a cushion and a little less debt but we're spending almost everything on this co-op. Ugh! I think I need a hug from my mom.

I pretty much have to go through with it because FH would probably dump me if I chickened out. I already chickened out on moving to NC (although I got a great raise and promotion out of it), he wouldn't handle it well if I didn't go through with this.

---

If you're that worried about it then maybe you should get a part-time job to put away a nest egg for a rainy day. Like maybe waitressing or bartending on a weekend for a couple of months? I know it's not ideal, but having a couple thousand save for a 'what-if' isn't a bad idea and could save you both from financial ruin if the worst case scenario ever did happen...I think cautiousness is healthy. It's what can keep you from disaster in the future. Don't ignore it - Embrace it and do something about it. Save for that rainy day. Eventually, it happens to us all. Just make sure you have a really good umbrella!

---

Posted by Nitania13

---

Posted by MrsList09

---

Posted by gporka23

Its good that you are cautious. I am too!! FH and I bought a condo last year and if I lost my job we would seriously be screwed and would not afford the mortgage.

---

That's my worst fear right now! I guess we could always just sell it to get rid of it but it's causing me so much anxiety. It would nice to have a little money saved as a cushion and a little less debt but we're spending almost everything on this co-op. Ugh! I think I need a hug from my mom.

I pretty much have to go through with it because FH would probably dump me if I chickened out. I already chickened out on moving to NC (although I got a great raise and promotion out of it), he wouldn't handle it well if I didn't go through with this.

---

If you're that worried about it then maybe you should get a part-time job to put away a nest egg for a rainy day. Like maybe waitressing or bartending on a weekend for a couple of months? I know it's not ideal, but having a couple thousand save for a 'what-if' isn't a bad idea and could save you both from financial ruin if the worst case scenario ever did happen...I think cautiousness is healthy. It's what can keep you from disaster in the future. Don't ignore it - Embrace it and do something about it. Save for that rainy day. Eventually, it happens to us all. Just make sure you have a really good umbrella!

---

Well I have to go to school at least half time so I don't have to make my student loan payment (I get free classes because I work for a college). Plus with the holidays, the house buying and the wedding, I'm not sure I have time right now for a second job. I'm already freaking out as it is. But it's definitely something I've considered for the summer. FH is thinking of takign summer classes anyway so he wont' be around. I think we'll be okay but thank you to everyone for the support! It's nice to know I'm not the only one with mortgage anxiety.

Fh and I just moved into our new house in september, and we had the same fears: how are we going to do this, what if we can't do this? But once you're in the house, it gets easier and easier! We have actually been able to SAVE MONEY!!! you will make it work, and you will be fine!

It's really exciting!!