Ok, so I'm asking all ur opinions because i've met some great down to earth people on here and I value ur advice so here goes. My hubby and I need to downsize due to financial reasons and we're renting now. We have managed to save a little bit and have been looking into foreclosures. We live in a townhouse now with a garage and we can cut our payment from rent to a mortgage and save about $400-$500 a month, plus cut utilities since its smaller. my familys making me feel guilty about looking at a condo on a 3rd floor and not having a garage, they say we're being too picky and should slow down and try to find a smaller townhouse. Problem is the longer we wait the more savings we go through and the less we'll have to spend in the long run. Help!!! Should we take our time and look more? Its only been 3 months or should we go for the one we found? Yes giving up a garage and a 3rd bedroom is going to be a sacrafice but we still have each other and he won't have to work 18 hours 7 days a week anymore.
Think about you and your hubby. Will having the condo enrich your lives? (i.e. give you more time together, less stress, etc?)
I read something in of all places the Costco Connection, about some questions to ask before any major decision. 1. What is the best thing that can happen if I do this? 2. What is the worst thing that can happen if I do this? 3. What is the best thing that can happen if I do not do this? 4. What is the worst thing that can happen if I do not do this? Take some time to imagine...
Also, as for unhelpful family and friends' comments... they may want things for you that you do not want for yourself. Evaluate if their desires match your own.
From a purely real estate frame of mind - this is a great time to buy if you can afford it. The gov't credits help a lot. You can plan on staying in the condo for 3 years and then look for a new place once the economy starts recovering.