Tuesday, July 12, 2005

Love in the Time of the Housing Bubble, Part II

After a good sleep and encouraging read of an article in the Wall Street Journal's Marketplace on how schools are filling up MBA programs in real estate, I've decided that I need more research. This whole thing stems from my situation a year ago, where I needed to get out of my "severely water damaged" apartment (as dubbed by the Housing Department when I called them in to inspect). I was single and inspired by my friend, a public school teacher and single at time, who bought her own apartment around the corner from me. If she can do it, I thought, I can do it. In the meantime, I moved across the hall into my charming little one-bedroom apartment full of light and space enough for the dog, cat and sewing room.

But I started working the family, letting them know of my intentions. "Mom, I know you were married at 23, and owned your home soon after, but I'm 27 and there's no sign of marriage yet, so why waste over $1000 every month? So that my landlord can sit on the profit and not do an adequate job repairing the leaky ceiling/roof?" She was agreeing, and started gently talking to my dad. It all came to a screeching halt, on my part, when David and I started dating. The biggest move we made was moving in together - which was his first and my second. My first was to a college fiancé who later didn't work out, obviously, and I had to enlist family members to help me move out.

But thank goodness we didn't get married. Right? I think of it as a test. The boxes donated to me from a friend who worked at Parma High in OH had printed on them "A learning experience." So my current thought of the morning is this: it's easier to get out of property ownership, I would think, and hopefully less painful then untangling a marriage (oh, to think! let's not even go there). I'm going to go with the flow of what's necessary (and fun) in today's economy. If that means owning before marrying, than maybe that's what that means.

It's all about timing, really, and decisions can move at a snails pace here in the upper upper west side. The idea is still half-baked, but I'm still going to go to some open houses, just for practice. David and I already looked at a $1.6million dollar apartment just for fun last year. Anyone want to come?


MidWest Cousin said...

Wow! There is no rush. You have moved apartments how many times in the past few years?? Look at a few places, do some research, if the price is right and you fall in love with a place- buy it. But make sure that you can afford it with or without a man (even if it is a fabulous man!!!). 28 is hardly old. And keep the questions of buying a home and buying a diamond seperate!! :-) Good luck and happy hunting!

Mista said...

Love your advice. Excellent.

Let's rehash. I have moved apartments 3 times in the past 3 years (but at least the first three were in the same building), 4 times in college, and once after graduation before moving to the Big Apple. I hop like a bunny ;-)

But the home and diamond are separate for sure. As a bonafied Guy/Girl (that equals a girl who does not obsess about weddings and such, but does know about some acceptable rules), I have taken my home-goggles off, am back to normal and will take your always solid advice. Thanks!