Thursday, December 13, 2007

fun for one?

so i'm 28. i have a really solid job. it's not what i want to do forever, but it's a great place to work, i'm paid well, my boss loves me, and i was recently promoted(again). i don't have any debt, i don't have a car payment, and my rent is ridiculously cheap. i should have a big chunk of change in my savings account, right? it's not really a chunk. more like a chip. instead of a chunk, i have some pretty nice clothes, a good music collection, and a few other random things.

i'm ready to change that. i was thinking i should probably buy a house, so i need to start saving some cash. even if i don't buy a house, beefing up my savings account is a habit i'd like to be good at. things like grad school, a wedding, some kind of cool vacation, etc, would require some cash.

the house thing has been on my mind a lot lately. i'd looooove to be able to paint and tile and do all those kinds of projects. have a studio with a sink and a floor i could spill on. have a yard i could enjoy. have an actual big comfortable leather couch. but... the thought of owning a house all by myself is kind of... something. scary? intimidating? maybe.

they say you shouldn't put off the things you dream of doing just because you're not married. but what if you're pretty freaking sure you'd enjoy them a lot more with a spouse? the house thing, for example. it seems like so much more fun with a spouse. all those projects... by myself? sure, my dad would help, but that doesn't seem the same.

and on top of that, while i want a house, is that really the best use of my time/money? could i better serve god by remaining in my apartment and doing other things with that money?

i guess these are things to think about while i save money over the next year.


The Learner said...

When I was your age (gosh that makes me sound ancient!) I felt the same way about buying a house, that it is better to wait until I am married for all the same reasons you gave. So I found myself still single in my late 30s, having paid tens of thousands of dollars in rent with no lasting value for my money. Even though it was scary I entered the house hunting market and found a place that is perfect for me. It is a great investment. The tax advantages alone make it worth while. Don't let being single keep you from living your life :)

Even said...

I agree with the learner. First the tax advantages are great. Building equity is smart. And being able to do whatever you want to your place is great. You know I would much rather have a wife to work on and make decisions with, but I don't and I think that it is a mistake to think that you should wait to get married before buy a house. I mean you could live at your apartment for another three years and wind up being tens of thousands of dollars in rent. As for what better ways your money may be used for God... saving is a very biblical principal that he wants you to practice. You know that I have just recently begun saving and it feels so great. Take it all in small steps and just get out there and start serving and loving others. Like the Holiday party.

Anonymous said...

I bought my townhouse 6 years ago when I was 27 - best thing I've ever done hands down. I've had roommates the whole time and that has helped with the mortgage. I don't know when I'll get married, and home prices always go up over time, so it has made a lot of sense. Taking care of it has been easier than I thought - don't let that stop you. The main thing is to get smart financially (to prepare to buy) and learn about home repair. You don't have to know how to do everything, but you do need to have a good savings cushion. That way, if your heat pump dies two months after you move in, like mine did, you have the $2K in savings to take care of it. I can't say enough about home ownership and how it has helped me feel more financially secure about my future. And having roommates has enabled me to put more toward repairs, upgrades, and has made tithing easier. Go for it!

Anonymous said...

I have advised my son to seek out other single men with whom he might form a contract in which they pool their resources in order to buy a percentage of interest in a home; with terms of the contract allowing members of the partnership to sell out of the contract if they find a buyer. This might also work for single christian women.

However, he and a friend are moving in here in two weeks (which might mean my blog gets revamped, brought up again, and called "single christian men blog").


single/certain said...

thanks for all the advice, everyone! very helpful. i think i will probably go for it, but it'll spring/summer at the earliest. i need to save up some more cashola first.

Amir Larijani said...

S/C: Just save your money. In a year or two, you'll be able to buy one with cash (or with a very small loan). This crash is going to be butt-ugly.

Anyone with an interest-only lown, a balloon loan, or an ARM, is going to get slaughtered.

I bought a house this year. While I am happy with my house--and I managed to get a good fixed rate--I probably should have stayed in an apartment and rode out the housing crash. That would have allowed me to get a much better one than I have now, at a lower price.

But anyone who asks me if it's a good time to buy, I would tell them no. Hold on to your money. Keep saving it. The market still has plenty of room to crash.

And when that happens, you will have some REALLY NICE deals.

single/certain said...

yea, amir, it'll be spring or summer before i am ready, and that's at the earliest. i have to see how good i can be at this whole saving money thing. :-)