One of my goals is to eventually be able to purchase a house. Many of my nursing colleagues are purchasing homes that are worth $450,000, $500,000 or even more. Sadly, my budget is about half of that or even less, which means the houses I have to choose from are not appealing. Most of them are small, old, or both.
I am just curious how other nurses manage to purchase decent houses? I've been looking through my income, and I just can't find a way to make it possible to incorporate such a house into my budget. I am salary, so there are no opportunities for overtime.
What are other nurses' experience with buying houses? How did you make it work? Did it require switching jobs? Inquiring minds want to know!
Still looking at the housing market. Just the other day, someone had mentioned again about owning a townhouse or even a condo versus trying to buy an entire house. While I am sure they had good intentions, I can't help but think: What could be more damaging to one's self-esteem (when it comes to home ownership) than to be a townhouse or condo owner? As I mentioned, many of my nursing colleagues live in very nice homes...so there has to be a way. Has to be something better, I just have to figure out how to get it.
owning a townhouse or even a condo versus trying to buy an entire house. While I am sure they had good intentions, I can't help but think: What could be more damaging to one's self-esteem (when it comes to home ownership) than to be a townhouse or condo owner?
Boy, this brought back memories....after graduate school I feel in love with a condo. I can still remember what it looked like...just loved it. I cried in the realtor's office when my finances where discussed and the condo was way out of my price range. (I had NO price range, just renting was in my future) A couple of years later, I moved into another city and there I was able to save up for my downpayment for a "fixer-upper". I so loved that house.. still love that house and through my labor and design, I was able to make a tidy profit. I got married and used the sale of my little bungalow to invest in a great house. Then Used my and my husband's labor and have made this a fantastic asset and an even more comfortable home to live in.
SilverBells, I know right now your life is tough, really toughand it is hard to see anything positive. Okay, but dissing any type of house design that you are not accepting of and labeling it as a self esteem issue is hurtful
16 hours ago, SilverBells said:
What could be more damaging to one's self-esteem (when it comes to home ownership) than to be a townhouse or condo owner?
2 hours ago, Merrie82 said:
You are sounding like someone looking for a reaction, any reaction, positive or negative.
There, you got my reaction. I had a cat that craved attention -- attention for being good and attention for being bad. I used to say any attention is better than no attention.
Specializes in Nurse Leader specializing in Labor & Delivery.
My previous post was deleted, so I will try again.
Silverbells, have you considered why your behavior, actions and opinions are the way they are? I'm not sure if you realize that your words are coming off as elitist and insulting to others, but that's how they're being perceived.
Now is the not the time to buy a house! You don't want to buy a house before you know you are settled with your work and personal life. You want to buy a house close to wear you work to cut the commute out.
This is frustrating. If it is not time for a house (or a wedding, marriage, babies, etc), then what is it time for? I'm running out of options
The thing about condos or even homes in "planned communities" is that you cannot have a garden or even plant a flower. I just wanted to plant some wildflowers (since this is something I often advise my patients to do for depression). I recall from my travel to Swiss and France a few years ago how even many of the stop signs had flowers planted around them and how it made for a somewhat "better" happier feeling. I have been watering them for the past month and feeling pretty good. Today they were mercilessly cut down and I must admit I thought about murder for a good long time. The feeling has passed. However, I realize we need to get out of this addition and to someplace where I at least have a small plot where I can garden.
Are you kidding? What an insult to those who own such dwellings. And by the way, townhomes and condos are very nice places in many cases. You are incorrigible. I give up.
Didn't mean to insult anyone that is living in these types of housing. The comment was directed towards myself, as owning a condo or townhome while other are buying larger homes would only make me feel worse about myself.
Ehh...I figure if people in their twenties are buying brand new houses, it must be possible. There's more than one example I can think of, too, so it's obviously possible and not rocket science. I just haven't figured it out.
One example I can think of is a colleague who is actually 3 years younger than me. Has two daughters, just recently built own house for over $400k. Another colleague of mine just had a son; bought a house for $450k. I know of another colleague who has two children; I don't know how much her house is worth but it is very new, and based on its appearance, I'm pretty sure I would have trouble affording it, if able to at all. My ex's new girlfriend/fiance/wife/whoever she is just bought a new house, too--single family home simply by working as a postpartum nurse, so they're not living in a townhome either.
So, theoretically, I should be able to figure out a way, too.
2 hours ago, londonflo said:
Boy, this brought back memories....after graduate school I feel in love with a condo. I can still remember what it looked like...just loved it. I cried in the realtor's office when my finances where discussed and the condo was way out of my price range. (I had NO price range, just renting was in my future) A couple of years later, I moved into another city and there I was able to save up for my downpayment for a "fixer-upper". I so loved that house.. still love that house and through my labor and design, I was able to make a tidy profit. I got married and used the sale of my little bungalow to invest in a great house. Then Used my and my husband's labor and have made this a fantastic asset and an even more comfortable home to live in.
SilverBells, I know right now your life is tough, really toughand it is hard to see anything positive. Okay, but dissing any type of house design that you are not accepting of and labeling it as a self esteem issue is hurtful
Sorry, my wording probably isn't coming out right. By no means do I wish to insult anyone else. For some people, living in a townhome or a small house might be fine. For me, I wouldn't feel good about myself if I did those things.
Everything aside it is an almost indisputable fact that owning a home takes a relatively larger percentage of one's paycheck today than it did say in 1950. Homes are becoming relatively less affordable. The best one can do is to buy in a more affordable area. Also states like Wyoming, Florida, Nevada, New Hampshire, and Tenn. with no income tax may help somewhat. Consider that a family earning 100K living in California would pay an extra 10K in state income taxes. That same 100K in Tenn could be used towards the mortgage payment and $800.00 per month is not an insignificant amount to aid in that endeavor.
My previous post was deleted, so I will try again.
Silverbells, have you considered why your behavior, actions and opinions are the way they are? I'm not sure if you realize that your words are coming off as elitist and insulting to others, but that's how they're being perceived.
Sorry, not meaning to insult anyone. My opinions pretty much stem from the fact that I hold high standards and expectations for myself. There are simply accomplishments in life that meet those standards, and things that do not. For some people, a townhome or apartment may be great. For me, ownership of either one would not fulfill the high standards of success I have set myself.
1 hour ago, myoglobin said:
The thing about condos or even homes in "planned communities" is that you cannot have a garden or even plant a flower. I just wanted to plant some wildflowers (since this is something I often advise my patients to do for depression). I recall from my travel to Swiss and France a few years ago how even many of the stop signs had flowers planted around them and how it made for a somewhat "better" happier feeling. I have been watering them for the past month and feeling pretty good. Today they were mercilessly cut down and I must admit I thought about murder for a good long time. The feeling has passed. However, I realize we need to get out of this addition and to someplace where I at least have a small plot where I can garden.
That is also one of the appeals of having my own house; being able to plant whichever flowers, plants or trees I would like. I am also an animal lover, so want the freedom to have as many pets as I want.
Have you considered the fact that other people simply have different financial status and means than you do? Many young people have financial support from their parents, and it is easier to afford a house in a dual income household than a single income household.
It’s not healthy to compare yourself to others. Or use objects as a mean to elevate your self esteem.
I think it would depend on your nest egg whether or not you want to be a renter or not. People that have a secure steady income after retirement might want to rent. Germans don't like being in debt and most are renters instead of home owners, but they have a good safety net there and a strong economy. There certainly can be reasons to rent, like mobility, one payment rather than a mortgage, condo association fees and upkeep, etc. Sometimes I think my home is a money pit and miss the days of renting.
However, one thing to consider is that part of your nest egg can be your home. Something I really didn't consider until talking to my financial advisor about my future. He said that if and when I might need an ALF or nursing care selling my home would be a significant help as is part of my long-term after retirement plan.
Certainly whether one has a home vs. a condo or townhome has nothing to do with self-esteem and aren't better than anyone else.
I agree not everyone should rush out to buy a home. If you don't have the savings both for the down payment and also for maintenance you can end up in a jam. Especially for younger workers I would advise them to save their money and then when you are ready to settle down decide where you want to live. Buying a house isn't always practical or feasible for everyone, especially if their income doesn't support the mortgage, taxes, insurance and maintenance.
But being a renter for your whole life is risky too. There was an article in my local newspaper that 50% of rentals are owned by corporations and as you can imagine they are not renter friendly and will be the first to evict someone. Also some city areas, the rental properties are substandard, even unsafe, yet the landlord won't make repairs. Some landlords make money from the govt itself by offering "affordable housing" and the govt kicks in and pays most of the rent. But these same landlords don't always take responsibility for the upkeep of their places.
New apt and condo buildings are invariably luxury units meant for maximum profit. I always wonder who lives there and what jobs they have to afford such places.
Personally, I think a condo or townhouse can be an excellent idea for an older person or a city dweller that likes the nightlife and doesn't want to spend time on landscaping, mowing and maintenance. But I wouldn't choose it for myself because I love gardening, esp my flowers. Also a lot of condos and home associations have all sorts of rules of what you can display etc and I wouldn't want to be restricted like that.
I do love my little storybook brick home. It was originally made by a local architect and has lots of character. I'm sure I could never afford to build such a house in this day and age.
Yes your home can function as an additional safety net if you have equity in it thru either a HELOC or reverse mortgage in your later years. So most homeowners have a higher net worth than renters.
Subee2, BSN, MSN, CRNA
308 Posts
Actually, no you don't.