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Well this is a bummer...

Last post I mentioned that we were going to talk to a guy about what it would take to get a home. Our credit being good, despite Andy's foreclosure and my incredibly high student loans, we still could get a home loan. However, that 3.5% down payment is still WAY out of reach.

Housing prices being what they are we'd have to come up with at least 12K, but more likely 15K if you take into account the closing costs. We simply don't have that much and are unable to come up with it.

So when I was saying, well we couldn't be making that much less than our friends that are buying, what have they got that we don't got, apparently the answer to that question is parents capable of "gifting" down payment.

I know for a fact that this is how at least one of my friends was able to get his house. I've also read from other friends trying this process that this is what mortgage people commonly ask "So can you get the down payment from your parents?" I knew to expect it, but I didn't realize this is the only bright idea the industry has when it comes to coming up with a down payment. For those of us whose parents are not firmly middle class enough to have tens of thousands of dollars tucked away somewhere, I guess we are just SOL. Andy had a second conversation with the guy about the down payment yesterday and I guess the guy was like "I understand your parents are deceased but there's still Miranda's parents you can ask." As if it's a matter of us not wanting to trouble them or being afraid to ask as opposed to that money simply not existing.

It's a sad state of our generation when that is how we are expected to get a start in this world. That even in our 30s and 40s we are expected to resort to crawling to our parents for a loan or gift to get our starter home. It's even more upsetting when people don't understand the meaning of the words "my parents don't have money"

So it looks like we have no choice but to endure weathering this shitty rental market and hope that our rent doesn't go up too much and we get another year in Crown Hill.

As for making a plan, the thought of leaving the Seattle area entirely is looking more and more attractive. One can't help but feel as though if you can't afford to live here the city wants nothing to do with you. If you're not happy to pay out the ass to live in a tiny apodment for the privilege of having a Seattle zip code, then you're just a fucking NIMBY that's part of the problem. Despite being practically a native, I feel like the secret about this beautiful place is out and it's going to be the next San Francisco/Bay Area of have and have nots, but without the public transportation to sustain the outward movement of people. On the other hand, I do really like my job and though I would like to make more, (probably going to ask for more during this current review period), unless we move to a college town and I get a similar gig, I'm not going to make much more in a town that has a cheaper housing market. And remember I pay a third of my income to student loans so it's not like I can take a huge pay cut. There's also the fact of abandoning this town's really great comedy scene but I'm already seeing those folks being priced out of here too so who knows how much longer this scene is able to even last. (Not that I'm deep into it, but I've got a show that people enjoy doing and keeps me tuned into to some of the talent this city has...for now). But then also my parents are getting up there in years and would I feel right abandoning them?

Okay I'm officially rambling now so I'll stop myself. Point is, it doesn't look in the cards to buy a home here lest we win the lottery prize or something. *sigh* I still want to use this information to sit down with Andy, come up with goals and make like a 5 year financial plan. I really do. But it sounds like in order to do that we still need to think about where we really see ourselves in that 5 years. Is that going to be in the Seattle Metro area? It's hard to say. In the mean time. we're just going to have to bend over and take what is given and accept it. 

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