Friday, February 23, 2007

Incredibly Lazy or Genius?

You decide.

For the past several nights I have been sleeping in my guest bed (there is no guest in it ;). It is a very comfortable bed. But that is not the reason. The reason is that I have not changed my sheets in my regular bed. Sure, they are clean enough to sleep on, but I thought there is a perfectly good bed with fresh, clean sheets already on it just a few feet away. The first night was because I got in really late, and didn't feel like changing sheets, and I had just gotten out of the bath and felt clean. So I slept there. It was good. The cats were all excited - something new in their routine. The second and third nights, I thought I already slept in this bed and should wash the sheets any way for the next guest, so I might as well sleep in them a few more days to make it really worth the trouble.

On a sadly similar note, I felt like taking a hot bath after a strenuous night of tennis. And while my shower is clean enough for a shower, I wasn't sure about how I felt about soaking in the bath. You guessed it, I used the guest bath. I know that it hadn't been used since I cleaned it last.

I know in the long run, it will mean more work for me - extra load of sheets and scrubbing two baths, but when it was 10 at night, it felt oh so right.

Sunday, February 18, 2007

It's starting to feel more real.

I went house-hunting for the first time! Not with the intent to actually find a house, but more to see what is out there. A friend drove me around an area that has some newer housing developments between 2-10 years old). It was close to the Trinity River and railroad, so not exactly sure that is a plus and in the area I want, but it was fun anyway - aside from the slight feeling of carsickness after an hour.

There were several houses for sale, but not many had the little fliers out front so I could see details. I think if I can find one with about the square footage I want, it should be in my range. But hard to tell as none really matched my needs.

Also, I had a short talk with a friend's father, who is a financial advisor. We didn't go into detail into my whole financial decision, but I just asked him one question that I wasn't sure of. I was half hoping and half not hoping he would laugh at me and say that I shouldn't buy a house, silly girl. Thankfully or not thankfully, that didnt' happen. My main question was whether I should take some money out of my previous job's retirement account to supplement my down payment so it would be 20%. Of course, there was not an easy answer. He said I should take the old account, put it in my new job's 401k, and then take a loan out to myself. While that sounds cool - borrowing from yourself and paying the interest back to yourself - the loan has to be paid back in five years. So now, I need to figure out how much I should take out and if I can affort to pay both a mortage and a loan payment to myself. Depending what kind of house I can find, I might not need to borrow too much, so it could be doable.

I am also in another dilemma, as he said two things that contradict my situation. He said he highly recommends putting 20% down. But he almost never encourages people to borrow money from their retirement plan. Unless I win the lottery in the next few months - which I don't play - I will not have enough for 20% and closing costs and money for any minor things which I will need. Some might say that then I shouldn't buy a house, but I dont' like those people. They aren't living in an apartment right now.

Thursday, February 15, 2007

Thursday Thirteen: Feb. 15th.

Thirteen Things that I want/don't want in my new house

1…. I don't want the garage to be the dominant view from the front of the house.
2…. Crown molding
3…. Built in bookshelves and nooks
4…. 3 bedrooms (1 an office with french doors) and 2 baths
5…. A utility room big enough to put the litter box. I'm tired of it being in my bathroom
6…. A fairly new house...less than 5 years would be awesome...less than 10 great...less than 20 acceptable...less than 100 - better be free
7…. No formal living area/dining - would probably be wasted on me
8…. Not too big of a yard
9…. Not too small of a yard - don't want to be looking into the neighbor's windows from my window
10…. Big bathroom. And I want a window in the bathroom. And a window in the kitchen
11…. Big master closet!
12…. Hopefully the yard will already have some basic landscaping done.
13…. At least 1 bay window. I would love to have a sitting area in the master bedroom.

Now I need to figure out which of these are must haves, and which are negotiable.

Saturday, February 10, 2007

They don't give me enough credit.

I just did my taxes, and I owe a lot of money this year. I don't know how that happened. Last year I got back an almost equal amount of money, and nothing major changed in 2006. I had no credits to speak of this year: no college expenses, no dependents to claim - I wish I could claim my fat cat who insists on eating twice a day - and certainly no homestead exemptions or deductions.

I'm looking forward to doing my 2007 taxes next year. God willing, it will be the first year I will realized the American Dream of itemized deductions. Everyone always raves about the deductions and credits that come with a house. They use big words I don't understand, like points, equity, escrow, mortage interest, capital gains, and something called a tax refund. I'm going to spend so much on improving my house that my tax credits will be more than my income. Don't know how I will afford to eat, but I'll worry about that later.

But still, it does seem odd that people talk about how spending $100,000 on a house is worth it to get a very small percentage back in tax credits. That's like telling your husband that it was a good thing that you just spent $500 at Anne Taylor because you saved him $100 since it was all on sale. It's all about how you word it. The government has been doing it to us for years. Getting us all excited every April about getting money back that we rightfully earned, that was in error deprived from us monthy, that we have not been able to earn interest on because good ol' Uncle Sam is capitalizing on it for us during the year. All this talk about taxes is making me feel a little patriotic. (Cue Pollyanna singing with the Stars and Stripes in the background...."from sea to shining sea".) I guess we don't have it so bad. Ask me again next year when I have to pay real estate tax. Maybe there's a credit for that.

Friday, February 2, 2007

Saving myself...for my first house

I am proud of myself for the amount of money that I have saved for the down payment when I look at the total in my savings accounts. But then I divide that by the years that I have been working, almost 7 now, and consider the very good salary I make (I think I am way overpaid, but I won't let my employer know that), and it doesn't seem like enough.

I think of the times I have blown my money away on stupid stuff that I didn't get much enjoyment out of. I think of the idiotic financial advisor at the bank who lost almost one-third of the amount I invested in the stockmarket. I could be so much closer to my goal of home-ownership. However, since I cannot go back in time and change my choices, I can only look to the present and change my current behavior. I need to enjoy my life now, spend where I will get the most benefit, and keep on saving.

The only "savings" grace I can find in this came in the mail yesterday. I received the yearly statement from the church with my donations for tax purposes. (Sidenote: I give a regular amount monthly to the church. It is nowhere near a tithe. That is a personal goal I am working on. I have always given a regular amount, no matter what is going on, and it has gone up as my salary has gone up, so at least there is that.) I'm not telling you this to brag or so that someone will say, good job. It is what is expected, and the least I can do. I'm only telling you this because it made me feel somewhat better about my savings. While the amount for the year was not 'build a new family life center in my name' worthy, it was a pretty good chunk. If over the same 7 years, I had not been making a check to the church, but rather to my savings account, I could have been living in a house by now, probably. However, would He have blessed me with a continually increasing income and a new job? I don't know..probably. I don't think he works that way. But would I feel good about myself in my new house? I don't know...probably not.