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jic: Daniel Jackson (SG1) firing weapon, caption "skill to do comes of doing" (Default)
Why is homeownership important to me?
Because it is a sound investment.  Because I no longer have to consider the landlord when making upgrade decisions. Because this home has space for the things I want to do, like have my friends live with me and throw parties.  Because homeownership is (to my subconscious, at least) an indicator of adulthood and security.

How do external factors like family, friends, and social pressures impact my decision to buy?
No one is pressuring me to buy.  Social pressure, yeah, but my urge to rebel is outweighed by the SWEET deal I'm getting here (seriously - $150k in equity a year rafter close? sign me up)

Can I afford it, and is my job secure enough to make the purchase at this time?
Yes. It was a little iffy for a hot minute, but I'm paying off a bunch of debts this month, and that will improve the picture quite a bit.

Will current economic conditions impact my ability to maintain mortgage payments?
Only inasmuch as they do everyone.  My employer is stable.  I just got an Exceeds on my quarterly review.  Boo-yeah.

What benefits will homeownership provide that I cannot achieve from renting?
  - personal satisfaction, stable costs, investment, tax benefits, autonomy, agency
Drawbacks - increased cost in the first few years. Have to pay water/sewer.  Less mobility.  Possibility of foreclosure. Maintenance.


Am I going to stay in this home for 5 years?
Yes.
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Comments

dine: (harvest moon - lanning)
[personal profile] dine wrote:
Nov. 7th, 2014 08:27 pm (UTC)
wow - that's a huge step! but it sounds like you're considering all the important stuff, and for the right reasons.
jic: Daniel Jackson (SG1) firing weapon, caption "skill to do comes of doing" (Default)
[personal profile] jic wrote:
Nov. 8th, 2014 06:00 am (UTC)
It is pretty huge :)