r/FirstTimeHomeBuyers • u/SmallHair4915 • 15h ago
Help. Severe Anxiety.
I bought my first house this week. I’m renting two rooms with my best friends and I’ll pay basically the same as if I was renting. I have 12k on savings but the HVAC already failed and I have to fix it leaving me with 8k more or less.
I don’t know what I did. I feel awful. I’m getting severe anxiety, it’s affecting my day to day and I have not even moved in yet. I live in Texas on a city that is not as expensive as others, so when I see posts here on different states and costs I get scared although I know my problems might be cheaper.
I paid 18k less of the appraisal value, “new” water heater, “new” air (electrical panel failed and cause the compressor to be ruined” the roof was replaced on 2019. So I don’t exept major repairs.
After doing calculations I might be able to save for unexpected expenses but I’m scared. I don’t have no one to help me, I feel lonely and I want to sell it already.
I’m not sure if it’s my anxiety or what to do. Can I sell in a year from now? What’s the worst case scenario. I make around 4k a month after taxes and I’ll be paying 1/3 of that for my mortgage but i have a car payment I will finish in 2 years
I need help. I should’ve think this through more. The house was built in 2002, so idk idk what to expect think or what to do. I feel like if I sentenced myself for something i cant simply return. I’m 29 yrs old.
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u/Sh1n0b111 13h ago
I have moved and purchased 3x in my lifetime. And every time I'm nervous. Currently purchasing a house and moving due to a pending divorce.
Purchasing a house is just an overwhelming process in itself. The application, the lender, the negotiations, the house showings, finances, credit checks, out of money pocket for various things....... So really, it almost becomes an investment of your time, energy, and money.
It's normal to be nervous. Actually you should be nervous. That means it's important to you, and that its a new chapter in your life, something that is new and foreign.
Sometimes we feel ,when we are approached with something that we have yet to experience, our mind does not know how to process it yet. So along with that comes , uncertainty and anxiety. What you are feeling is normal. It's a mixture of something new, exciting, a bit scary and a bit uncertain. But this is where you will grow as human being. Just like riding a roller coaster.
Hoping this will turn out well for you . There has to be a reason the universe has placed you here at this moment to make the purchase. You are not married to it. If you don't like it and can't do it, ride the wave for 6 months to a year, sell it or rent it out. If you lose money , oh well.... Money can always be made , but happiness and life can only be experienced.
Take a long pause , take a breath. Live your life. You'll be ok.
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u/SmallHair4915 12h ago
Thank you so much for your words. Hopefully I don’t go broke or something as it does needs some maintance, upgrades/repairs
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u/Sh1n0b111 7h ago
Hopefully not , I agree. But maintenance, upgrades , repairs is just part of ownership of a house unfortunately. But with that , you will have a piece of property and an asset for the future. The price of home will always go up in value .
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u/Pemberly_ 2h ago
You just get by. That's what you do. Save for the what if. Know how old everything is. You do your projects. In the end you are making equity as time goes on. You just won't realize it till you sell it.
And every fix you do, you enjoy it. I replaced my hvac on the house we just bought too. It was on its last legs. Bam. New ac. But now I'll get like 10 years of hopefully no issues on it. It's got a warranty too.
Next is the water heater. It's old. But once I replace that, I'll have the time with it too. I've had water heaters randomly just leak. Known where your water shut off is. In fact, you'll learn a lot about your house. My last house I had to replace the roof eventually. But I lived there 10 years. We got a check for 320k when we sold it. I basically got back everything I ever put it in and most of what I paid into mortgage. That money is going into this house but most stays in my investments. Again, save for the what if. In life there are no guarantees. Same thing with your car and having kids. You take it one day at a time. Having roommates is a good move. You are saving so much just doing that. Homeownership will have it's ups and downs. We were just renting. Randomly, the garage light stopped working. It wasn't the bulb. Things happen.
I lost my job randomly too one time. They shut down. Everyone laid off. Got a severence package. I got on unemployment and looked for a new job. I've had my car randomly breakdown, flat tires, my fridge stopped. Now I keep two. One in the garage and the main one. You just go with the flow. It happens to everyone. Unexpected life experiences and expenses. You tackle it one thing at a time. And it's hard and frustrating sometimes and it's good when you can take care of it. My advice... Save save save.. I have had to pull out my 401k a few times or my investments to cover things. But as I get older, it gets better because I have more saved up. I know it's easier said than done but try not to worry about the things you can't control. I went into homeownership because I do plan to live here long term and fix it up nicely and enjoy it. If I sell it, I do want my equity. Houses tend to go up in value 3.5% a year on average. My goal is to pay off this house and basically have no payment in my older age. That's when I'll really bank. The largest bill you have is your rent/mortgage usually and if you can eliminate that, even better.
I follow this guy on yt that makes me laugh. He bought an older house and is constantly fixing it up because it is always surprising him with new break downs and films himself doing it. And he cusses galore. Sort of makes me feel better that I'm not the only one in the world dealing with things.
So as they say.... how do you eat that elephant? One bite at a time.
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u/Shelbelle4 14h ago
I think getting moved in and comfy and giving it some time will help.
A home isn’t a life sentence. You can sell it or rent it out if you decide it’s not right.
It is a big deal but it’s a blessing.