Aquaman Posted December 1, 2022 Report Share Posted December 1, 2022 Reditt lo post My husband and I purchased a home in a hcol area on Sept 2022 and I feel stuck every day since then. Here is why: We put 20% down payment which was about 80% of life savings. Now we have about 6 months of living expenses worth of money left We are paying about 60% of our combined income. So if one of us loses their job then we will be eating out of pocket. Right now the remaining 40% is enough to live by but not really possible to put money aside. Im not loving the home but I dont hate it either. It is livable. It requires some work but we put most of it off because we dont have enough money. Im really worried about the recession. I think the house will lose its value and we will lose our lifesavings or stuck in this home for 15 years or so. We planned to stay in the house about 5-7 years but probably we will lose money during that time period Last but not the least: I feel like I lost my freedom. Before this house I had a luxury to quit my job and enjoy life a little and come back to work. I have never done this but the possibility of it was enough for me to relieve from stress. Now that is gone. I’m also an immigrant and one of the main reasons to buy a house here was to make a long term investment. However I feel like I overcommitted to something Im not ready. I know that I will live here for at least 3 years but the rest feels blurry. I have not been able to enjoy the home ownership since day 1. How do you deal with these feelings and stress? The idea of making the biggest financial mistake in my life and losing all our savings is really burdening me Quote Link to comment Share on other sites More sharing options...
Popular Post Sarvapindy Posted December 1, 2022 Popular Post Report Share Posted December 1, 2022 ammesko mari 1 1 1 Quote Link to comment Share on other sites More sharing options...
Aquaman Posted December 1, 2022 Author Report Share Posted December 1, 2022 2 minutes ago, Sarvapindy said: ammesko mari need to make financial decision carefully to avoid stress pindi kaka. e post Redditt lo nunchi lifted, naku inka peli kale 🤣 Quote Link to comment Share on other sites More sharing options...
Hitman Posted December 1, 2022 Report Share Posted December 1, 2022 Look for 2nd Job. After hours Job. Or UBER driver. Or ABNB half of the house. Quote Link to comment Share on other sites More sharing options...
Sarvapindy Posted December 1, 2022 Report Share Posted December 1, 2022 1 minute ago, Aquaman said: need to make financial decision carefully to avoid stress pindi kaka carefully ante recession vaste evadem seyaled ga..unavoidable situations Quote Link to comment Share on other sites More sharing options...
Aquaman Posted December 1, 2022 Author Report Share Posted December 1, 2022 Just now, Sarvapindy said: carefully ante recession vaste evadem seyaled ga..unavoidable situations If you already made big commitments before recession, extra stress ga. Ya, unavoidable things. Quote Link to comment Share on other sites More sharing options...
quickgun_murugun Posted December 1, 2022 Report Share Posted December 1, 2022 17 minutes ago, Aquaman said: If you already made big commitments before recession, extra stress ga. Ya, unavoidable things. Iga avanni antey kashtam… skill penchukoni career lo growth chuskovatamay best route ! Middle class doesn’t have the luxury to quit jobs and relax until old age . 1 2 Quote Link to comment Share on other sites More sharing options...
Thokkalee Posted December 1, 2022 Report Share Posted December 1, 2022 May be a woman… oorike tension paddam enduku… just go with the flow and enjoy the home.. they have enough savings which many people don’t have.. But paying 60% of combined income to mortgage is a terrible idea, not sure how they decided to go for that home in the first place.. it should never be more than 30-35%.. my rule is 1 out of 4 (if both are working) paychecks can go to mortgage and not more than that.. Quote Link to comment Share on other sites More sharing options...
LadiesTailor Posted December 1, 2022 Report Share Posted December 1, 2022 8 hours ago, Aquaman said: Reditt lo post My husband and I purchased a home in a hcol area on Sept 2022 and I feel stuck every day since then. Here is why: We put 20% down payment which was about 80% of life savings. Now we have about 6 months of living expenses worth of money left We are paying about 60% of our combined income. So if one of us loses their job then we will be eating out of pocket. Right now the remaining 40% is enough to live by but not really possible to put money aside. Im not loving the home but I dont hate it either. It is livable. It requires some work but we put most of it off because we dont have enough money. Im really worried about the recession. I think the house will lose its value and we will lose our lifesavings or stuck in this home for 15 years or so. We planned to stay in the house about 5-7 years but probably we will lose money during that time period Last but not the least: I feel like I lost my freedom. Before this house I had a luxury to quit my job and enjoy life a little and come back to work. I have never done this but the possibility of it was enough for me to relieve from stress. Now that is gone. I’m also an immigrant and one of the main reasons to buy a house here was to make a long term investment. However I feel like I overcommitted to something Im not ready. I know that I will live here for at least 3 years but the rest feels blurry. I have not been able to enjoy the home ownership since day 1. How do you deal with these feelings and stress? The idea of making the biggest financial mistake in my life and losing all our savings is really burdening me Very common scenario for home owners.. indulo stress avvadaniki em ledu.. alavatu chesukovali and expenses thaginchukovali… wife job quit ane word marchipovali… until unless its a health issue… simple ga American dream ante pay bills until you die…. That’s it amma 1 1 Quote Link to comment Share on other sites More sharing options...
Vaampire Posted December 1, 2022 Report Share Posted December 1, 2022 Ento ee home owners kastalu. @Spartan @csrcsrplz educate her 1 Quote Link to comment Share on other sites More sharing options...
JollyReddy Posted December 1, 2022 Report Share Posted December 1, 2022 this is the cause We are paying about 60% of our combined income. Quote Link to comment Share on other sites More sharing options...
toranam Posted December 1, 2022 Report Share Posted December 1, 2022 35 minutes ago, LadiesTailor said: Very common scenario for home owners.. indulo stress avvadaniki em ledu.. alavatu chesukovali and expenses thaginchukovali… wife job quit ane word marchipovali… until unless its a health issue… simple ga American dream ante pay bills until you die…. That’s it amma Ee valayam nundi evadu tondarga bayatapadi .. financial freedom Tecchukoni ind chekkeatado vadu thopu naa drusti lo 2 Quote Link to comment Share on other sites More sharing options...
sarfaroshi Posted December 1, 2022 Report Share Posted December 1, 2022 General Rule, dont exceed ur mortgage more than 25-30% of your household income. 1 Quote Link to comment Share on other sites More sharing options...
vamprie Posted December 1, 2022 Report Share Posted December 1, 2022 10 hours ago, Aquaman said: Reditt lo post My husband and I purchased a home in a hcol area on Sept 2022 and I feel stuck every day since then. Here is why: We put 20% down payment which was about 80% of life savings. Now we have about 6 months of living expenses worth of money left We are paying about 60% of our combined income. So if one of us loses their job then we will be eating out of pocket. Right now the remaining 40% is enough to live by but not really possible to put money aside. Im not loving the home but I dont hate it either. It is livable. It requires some work but we put most of it off because we dont have enough money. Im really worried about the recession. I think the house will lose its value and we will lose our lifesavings or stuck in this home for 15 years or so. We planned to stay in the house about 5-7 years but probably we will lose money during that time period Last but not the least: I feel like I lost my freedom. Before this house I had a luxury to quit my job and enjoy life a little and come back to work. I have never done this but the possibility of it was enough for me to relieve from stress. Now that is gone. I’m also an immigrant and one of the main reasons to buy a house here was to make a long term investment. However I feel like I overcommitted to something Im not ready. I know that I will live here for at least 3 years but the rest feels blurry. I have not been able to enjoy the home ownership since day 1. How do you deal with these feelings and stress? The idea of making the biggest financial mistake in my life and losing all our savings is really burdening me Idhi Indian expats lodhi ga reditt antavu Quote Link to comment Share on other sites More sharing options...
Complex Posted December 1, 2022 Report Share Posted December 1, 2022 buy what you can afford. Quote Link to comment Share on other sites More sharing options...
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