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Mid Life Crisis or Cold Feet Buying a Home?

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    #1

    Mid Life Crisis or Cold Feet Buying a Home?

    So I swear I am hitting my mid-life crisis stage early. lol.

    Okay, so the deal is I am buying a house that I have wanted since childhood. For only $50,000.....that is $26,000 less than what it is worth. We know the lady who owns it and she is so ready to leave that she is discounting it because I have known her all my life. Plus it is two stories - awesome factor there. I should be happy right? Yeah, if only it was that simple.

    Originally, I was planning on just giving up my belongings and getting a travel trailer to be a modern gypsy with the renaissance fair groups once I went back to college and graduated. This has been my dream for many years - one I didn't think was really possible until just a couple of years ago when I decided to make it work. This I was working on this when the house deal came up - I jumped on the house deal. Now, I feel like I'm giving up on my dreams by settling down. I mean, there is so much I haven't done - so many places I haven't been. I'm not even sure I want to live in this town really. But this way I am close to family and can start a homestead style life - something I imagined doing after traveling with the fairs.

    I'm getting to the point where I'm very unhappy about everything I've done in my life - or rather what I haven't done. Today, I actually thought about getting in my car and just driving until I run out of gas....just to see where I end up. Living out of my car for a while - just to say I've done it.

    I'm only 26 years old - I shouldn't be hitting a mid life crisis period yet, right? Has anyone else felt this way?
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    #2
    Re: Mid Life Crisis or Cold Feet Buying a Home?

    A house that cheap makes me wonder what's wrong with it, tbh. And if nothing is wrong with it and you're willing to pass up a steal like that then.... Idk. Seems like a difference of lifestyle choices in which case what I say doesn't and shouldn't matter.
    �Experience is what you get when you didn't get what you wanted. And experience is often the most valuable thing you have to offer.�
    ― Randy Pausch, The Last Lecture
    Sneak Attack
    Avatar picture by the wonderful and talented TJSGrimm.

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      #3
      Re: Mid Life Crisis or Cold Feet Buying a Home?

      The only things wrong with the place is one of the bathrooms plumbing is a little messed up and there is a pond in the backyard that looks like a giant mud puddle. She just doesn't want to deal with a realtor and have to tell people the pond is more a snake breeding area after years of skipping on maintaince. Which really wouldn't be hard to fix but she is miss negative.

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        #4
        Re: Mid Life Crisis or Cold Feet Buying a Home?

        I own my home, and sometimes I get that way. I feel a bit disappointed that I probably won't be gapping out for a year and going to Australia or something. Then I think, if I really wanted to, I could rent out my place for a year or whatever. Anything is possible

        Also, I think it's normal to get cold feet before a big change.

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          #5
          Re: Mid Life Crisis or Cold Feet Buying a Home?

          If you can afford it, and it is really that good of a deal, it might be worth buying the house and renting it out while you do the traveling thing. Than when you are ready to settle down the house will be there. Rent on a house can often cover a normal mortgage payment. When you do move in you'll have several years worth of equity in the house.

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            #6
            Re: Mid Life Crisis or Cold Feet Buying a Home?

            For $50k, it's a hard deal to pass up. You can always make it into an investment property - do the 'flipping' thing. As long as you don't put too much more money into fixing it up, when the economy shifts you could make a tidy profit.

            And if you end up not wanting to sell it, it's nice to have a place to come 'home' to.

            Honestly tho, I say travel. Travel now, travel often, and have fun while you're able.
            The forum member formerly known as perzephone. Or Perze. I've shed a skin.

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              #7
              Re: Mid Life Crisis or Cold Feet Buying a Home?

              I've thought about renting it out before, but worry about it being a big deal to do. After all when you rent out a house - you have to remove all of your stuff. I was thinking about turning it into one of those weekly stay rent houses that people get for vacation trips by turning it into a spiritual retreat of sorts. That way I can leave it furnished and only have to remove all the smaller stuff. However, I live in a town very dead to tourism - there is nothing here worth coming to look at. But it would be easy to rent it out to college kids whose parents have money as the town has a nice university.

              I know it is a really good deal plus the property ties it with some recently purchased by my parents. So when my parents pass away, I will inherit about 16 acres with will connect to this 4 acres. I was thinking of turning it all into a pagan spiritual retreat with nature trails, a labyrinth meditation path, and drum circle area. My mom is actually in on all that and is working on making an area near the creek that boarders some of the property into a place for practicing tai-chi and yoga. She is also looking into the building of a labyrinth already. I think it is awesome but is one of those things I wanted to do if I ever had the land but was thinking I would do like 20 years from now when I'm tired of living like a gypsy or something. Maybe I should just feel lucky?

              I hate having mixed feelings about all this. Guess it is time to crunch some numbers and find a way to have both. I'm sure it will all work out but I think last night I was just freaking out.

              Comment

                #8
                Re: Mid Life Crisis or Cold Feet Buying a Home?

                Sometimes, renting it out furnished can be a big plus, especially when you're renting to college kids. They might not have a lot of things of their own.

                Also, 4 acres for $50,000? I thought Berlin was cheap. WOW.

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                  #9
                  Re: Mid Life Crisis or Cold Feet Buying a Home?

                  I've heard that Germany had high prices for property before when compared to the US. lol

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                    #10
                    Re: Mid Life Crisis or Cold Feet Buying a Home?

                    Sounds like a great deal to me. You can always sell it if you want to.

                    Just an aside - lots of people seem to place a higher value on a 2 story house than on a ranch. I don't understand that. I've had both and sure do prefer not to have stairs!
                    sigpic
                    Can you hear me, Major Tom? I think I love you.

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                      #11
                      Re: Mid Life Crisis or Cold Feet Buying a Home?

                      I'm not a fan of stairs either, but this one is built into a hill. Accessible from the ground at both levels - a big bonus. In fact, when you enter the house you are on the top floor unless you walk down the hill to the back door at the bottom.

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