05/02/2024
Life update
I decided to bake a cake made of 100% icing. In the background you can see five full canisters of Betty Crocker icing, and I’m still only halfway done filling the cake pan! Don’t tell my dentist.
Obviously, this was a very bad idea. But I see people do this all the time when buying a house.
The real estate equivalent is buying (or staying in) a house only because it “has a great interest rate.” The property is the cake, the mortgage rate is just the icing on the cake.
If you love the neighborhood, the floor plan and the school district—don’t let the interest rate stop you from buying your dream house in your dream neighborhood. Hopefully you can refi later if rates come down!
Likewise, you shouldn’t automatically STAY in a house that doesn’t work for you anymore, just because you locked in a low interest rate.
Life changes happen! Kids eventually move out and we need to downsize. Sometimes the opposite happens and you need a bigger house because your family is growing. Sometimes you need to move across town (or to a different town entirely) because of a job change. It is what it is. Everyone’s situation is different.
I guess what I’m saying is that the interest rate (and thus monthly payment) should be PART OF your decision making, but it shouldn’t be the only variable.
Don’t put the icing before the cake! 🎂
Here's my personal cell if you have questions about buying (or selling) a home here in the Tulsa metro area: (918) 557-9154
- Christi
