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summercomfort ([personal profile] summercomfort) wrote2016-11-08 10:29 pm

House buying thoughts

So, there's this house that we're about 2 days away from signing on.

Buying it would involve:
- sinking in 90% of our savings
- sinking in 70% of my parents' savings (which we will then pay back at a 2% interest rate until we decide to sell the house.)

But it's a good location and a good house and basically a place that I can imagine myself, Hoosband, and Rutabaga living in for the next 3-5 years.

Except, with these election results ...

We might need liquid capital, yanno? More importantly, my *parents* might need liquid capital. And whereas before, I feel like we can make back the cost of the house if we sell after 3 years, now I think it's going to be at least 5 years.

Which would mean a lot of our money would be locked in for at least 5 years.

But on the other hand, by having parents help buy the place outright, it means that all of the money that we would have been spending on paying rent or mortgage interest, would then go into a safe savings account. Like, that's an extra $3000 a month that we'd be saving up. And if we live frugally in the next couple of years, we can actually save up a lot of money that way. If our current incomes stay stable, we'd be able to save up the money that parents are lending us in... 7 years. (And still be able to sell the house and get the money back that way.) And by being able to save more, that means we still have a certain amount of liquidity that we can shift around.

It's hard to see through the panic and jitters and project how much a Trump presidency will affect our lives for the next 4 years, but that's kind of what we need to decide by tomorrow 11am.
- health care costs might go down for us and go up for a bunch of people
- the Supreme Court is going to be not-fun, but then again, Scalia was pretty horrible, and I can't imagine someone being THAT much worse than him.
- America will lose the respect of everyone on the global stage and treaties will not be honored. I don't know what that will mean.
- Hoosband's industry might collapse as the government becomes more anti-science and anti-environment.
- Family business might struggle as anti-immigrant sentiment grows and more people go back to China. (On the other hand, Family business might get an uptick as Chinese immigrants start feeling a greater need to have their kids learn Chinese, just in case they have to go back to China.)

49% of this country clearly doesn't like people like me and my friends and family, and that is the most chilling thing of all.

But, states still decide the education curriculum, and entertainment and mass media still follows the consumer demands, and the internet will still function (for now?). :/

So... I dunno. I know that we're not going to move to another country, we're going to stay and do what we can. But is it better to do so while owning a house, or not?
catastrophy: sparkly pink d20 necklace (Default)

[personal profile] catastrophy 2016-11-12 02:31 am (UTC)(link)
So, what happened with the house?