We’ve been planning on moving (which may sound odd in other places in the world where it’s known as “shifting”) for 6 years. Yes, it’s really been that long.
When we first bought this house from my parents, we got it with a dirt-cheap “5-year-fixed then adjustable-rate” mortgage and the strong intention to move before the rate became adjustable. Well, that time has come and gone, and it’s about time to get out of this house and into something new.
We met with the realtor last week. Jean is a very jovial spirit, and is very enthusiastic for her team to help us with our move. (Something we hadn’t considered is that a real estate agent would come pre-grouped with many people: One to sell our house, one to help us find the best house to buy, one to help with the financing.) Part of the process is obviously finding someplace new to live, and so last night we reviewed a web site that Jean forwarded to us so that we would have some places to tour over the holiday weekend.
We were excited to see the lists of houses, but the initial chart puts most of the new homes in the $350k-$450k range. This was much higher than I expected, and I questioned the sanity in this when I saw that our mortgage payments would be somewhere above $2000 per month.
The broker is a bit crazy, saying that we could easily afford a $500k house. Seriously, that’s a half million dollars. One half million. One wonders if these huge numbers are solely commision-driven and whether there is any actual sense incorporated in their figuring. But I’m told that the numbers all work out.