So, we made an offer on a house.

Small place on a small lot (750 / 2500sf), but close to a nice little park, in an area slated for major improvements (New elementary school going in by 2006, demolishing several large apartment tracts). Hardwood floors, 1-car garage, very private backyard, super cute and clean throughout.

Had to bump up our price range signifigantly and do some ‘creative’ financing to make it work. The places in a reasonable price range were either trashed, thrashed, or dashed to the ground. This place is move-in ready.

All I can say is that this is definitely the scariest thing I’ve ever done. Sometimes, you gotta just hold your nose and jump in.

This whole thing really forced me to question what I’m working for and why. To take your hard-earned cash and plunk it down on a property – all for the prospect of doubling your rent payment – is a sobering thought.

Looking at your finances on an annualized basis, including all your debt and tax liability, you begin to see why people buy homes. Suffice it to say that as long as you are willing to stay in the same place for 5-7 years, you should – even with the most conservative appreciation rates – come out ahead in the end. Keep em’ crossed, kiddies.