topic Re: Feeling very Anxious after first home purchase in Staying well

Feeling very Anxious after first home purchase

JS23 — Tue, 25 Feb 2025 22:47:03 GMT

Hi there,

This is my first post here. My partner and I have slowly been looking for a place to buy in the last 3 or so months and recently the place we are renting the owners have decided to sell. I ended up going to an auction over the weekend for a place which both my partner and I have seen. We really liked the place and supringsly won the auction. Its within our budget etc but now I'm feeling really anxious and feel like Ive dragged my partner into unecessary debt and feeling buying remorse.

Has anyone gone through this? I was hoping to get some tips of how to process and tackle my anxiety.

Thank you

Re: Feeling very Anxious after first home purchase

white knight — Wed, 26 Feb 2025 00:45:01 GMT

Hi, welcome

I've had several homes previously in debt to high levels in my 30's. My daughter has last year also purchased land and have moved into their new home- with high debt.

I think regardless of your purchase, you've made a wise decision. See, wages rise due to inflation say 3-5% a year and interest rates fall (eventually). My daughter and her husband are $85 a month better off with the recent interest rate drop 2 weeks ago!. And thats on one wage. Significant.

So these two factors result in, over time, more usable income and therefore more financial comfort. It does mean tightened belts for the first 5-10 years but its worth the pain.

Being wise with expenditure is the better way to go also. We recently stopped buying soft drink and purchased soda maker and saved heaps monthly. cooking cheaper meals doesnt mean they cant be tasty too. Reduce restaurants and invite others over more often. Grow plants with cuttings from neighbours. It all helps.

Congratulations on your big decision, try to contain your anxiety and guilt. Worry doesnt produce anything but ulcers....

TonyWK

Re: Feeling very Anxious after first home purchase

JS23 — Wed, 26 Feb 2025 02:23:53 GMT

Thank you the kind words, I guess this is all part of process, dealing with these emotions. It is an exciting time, and Im hoping my excitment will build moving closer to the settlement date. I think I need remind myself of the benefits of finally being able to call ourselves homeowners.

Thanks again