I haven’t had time to write many new blog entries the past 2 weeks due to 2 reasons:
- Extra hours at the Corporation
- Buying a house
I’m getting married at the end of this year and have been looking for a house for the past year. Home prices in Southern California are absolutely ridiculous. I refuse to pay 450K for a 900 sq. ft. home. But I recently came across an 1800 sq. ft. house that seems like a great value given this market. I made an offer, it was accepted, and I’m waiting for the other shoe to drop. Perhaps the house inspection will turn up why the house is priced so reasonably.
My other concern is that the housing bubble will pop shortly after I close on this house. The bubble is suppose to have popped every year for the past 3 years now, but still hasn’t popped yet. But I want a place of my own and I’m buying for the long term, so even if housing prices take a nosedive, I figure I can wait it out. The house is in a great neighborhood as well, so hopefully the local effects of the bubble popping will be minimal.
The house is not mine yet, but taking on this new huge expense would make my day job less of a safety net. I already feel an extra surge of motivation to get my software released (really close now!), as well as to look into offering more products for sale on my fiance’s wedding accessories side business. I’ve determined that drop shipping suppliers are the way to go for that right now and will be doing research into that area in the near future.
- Thanks for reading
- Car Buying Tips
- Automatic Millionaire, Implemented!
- Get your financial house in order before quitting your dayjob
- Carla Blazek, free from 9 to 5
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June 24th, 2005 at 6:11 pm
I hope your new home turns out to be problem-free. I understand your caution about taking on this new responsibility in such uncertain times.
You are young enough to survive several market crashes and still succeed. It is absolutely true that the biggest regrets are about the chances not taken, not the chances that didn’t pan out.
The fact that both you and your fiancee are developing business bodes well for your future. If you can figure out how to share resources while keeping the business separate, you will probably do very well.
Best of luck, with the house and the businesses!
June 25th, 2005 at 10:53 am
Thanks David! The home inspection didn’t reveal any major defects, so I’m taking the plunge into home ownership. This may postpone my freedom from 9 to 5 a bit, but I think it’s worth it. And I’m still more determined than ever to regain time from a tedious day job.
November 25th, 2006 at 8:58 pm
Eric, I realize that I am posting this comment more than 17 months after your post regarding the “home inspection not revealing any major defects”, but as a long-serving house inspector myself (and one who resides down in clean green New Zealand), I was wondering what sort of costs are involved in obtaining a home inspection in your country? I charge between $180 - $350 depending on the work level involved.
Hope the house AND the business are coming along fine, though:)
Steve S
http://www.propertyinspections.co.nz