Reflections on Life Decisions and Housing Choices

I have always been risk averse and the thought of borrowing a large amount of money to buy a house frightens me. My anxiety also causes me to be hesitant about selling my current house and finding another one at the same time due to the pressure involved. Therefore, I saved as hard as I could for a long time to buy a house that I could see myself living in for a long time.

In 2013, I found an amazing house and made an offer. Despite feeling it was an acceptable risk, the offer was rejected and the house was sold to someone else for a bit more than I was earning annually. This was a devastating moment,especially considering that I was dating a lady at the time and we planned to move in together.

Relationship and Real Estate

During our relationship, I continued to save diligently, and even received a small inheritance that allowed me to buy some properties without a mortgage. However, my girlfriend lost interest in viewing houses with me since we had seen 5 properties that we couldn’t agree on. She preferred to stay detached from decisions regarding real estate.

In 2018, I saw a house that looked like my dream home. Despite needing to borrow about 1.5 times my salary, I considered it worth it for the incredible value and low interest rates. However, my girlfriend was not willing to accompany me to view the property, and we reached a stalemate in our decision-making process.

The 2013 House and the Pandemic

Just before the pandemic, the 2013 house re-entered the market at a slightly higher price. Although I had the financial means to buy it, I decided not to view it again. I thought I would have plenty of opportunities in the future if I could persuade my girlfriend to come with me. However, the pandemic brought unexpected changes. While initial predictions suggested falling house prices, experts were incorrect, and prices skyrocketed. My girlfriend got fed up with me, and we had to split up. I became homeless overnight.

Reflecting on the situation, I realize that I have been wrong in several aspects. First, even though I had a better financial position to buy the 2013 house the second time, it was still 35 more expensive. Secondly, I was not assertive with my girlfriend and missed several chances to buy my dream home. Third, I saved frugally, neglecting to consider more productive uses for the money, such as raising our children.

Learning from Life’s Lessons

For years, people advised me to buy a property, but I assumed I didn't need to because I was saving at a better rate than the house prices were increasing. Only now do I realize the mistake of my ways. I should have tried harder to buy a property sooner, using the money more efficiently than just maintaining inflated savings.

Looking back, the years of our relationship could have been spent more productively if I had bought a house sooner, even if it meant borrowing slightly more than I was comfortable with. Others often borrow significantly higher proportions of their salaries to buy property, leading to more fulfilling lives. I have certainly learned this lesson the hard way.

Current Financial Impact

Now, I am looking at properties that cost 20 to 30 more than the 2013 house I missed. They are nowhere near as nice and will cost me five times my salary. Even if I had the opportunity to increase my offer, the people who bought it might have still outbid me. The financial cost is huge not only because of the amount spent but also due to the difference in the values of homes I could have and would have had before.

These reflections and financial regrets remind me of the importance of making informed decisions and not letting fear and hesitation prevent me from pursuing my goals. The pandemic has been a harsh lesson, but it has also provided me with valuable insights into life and real estate decisions.