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December 20, 2003
Becoming a home owner.
I'm tired of apologizing for not posting enough, but I am sorry. I haven't posted partially because I've been busy, but also because I knew what I wanted to write about wouldn't be easy.Sarah and I have been looking into buying a place for some time, but finding a reasonably priced place in Mammoth is tough. We had ruled out buying a house, due to high prices, and were looking at condo's instead. The problem with condos up here is that they all have really high HOAs (home owner's association fees), like in the hundreds of dollars per month. Money you are basically throwing away.
On Monday, the realtor we have been dealing with called us to tell us about a building for sale. It's a duplex with two 3bdr, 2bath units, one of which is already rented. There was already a tremendous amount of interest in the place, so if we wanted it, we had to move fast, which we did. We made an offer immediately. They countered our offer along with another buyer's offer and we responded first. They accepted our offer. What does this mean? It means if we don't back out, we've got the place.
I have a lot of mixed feelings about all of this. I have only begun to really solidify them, but I wanted to get them out sooner rather than later, it already being later than sooner.
First of all, I don't like to be rushed, especially on such a big decision. Being rushed immediately makes me feel suspicious. This is one of the minor issues.
Secondly, the place needs a lot of work. We wouldn't necessarily have to do any or all of it, but I think we would. This would likely amount to a large time and money drain for the foreseeable future. This is a larger issue to me. I have aspirations and ideas on how I want to be spending my time and not spending my money over the next many years. My ideologies lead me to believe that we should pick an choose the responsibilities we adopt based on what will help us as individuals to reach our goals and/or help others around us. It doesn't seem wise to me to adopt responsibility just because thats what you're supposed to do. Given that we would be landlords at this place and that we would probably feel compelled to fix it up, I could see how my responsibility to this place could become sizable.
This brings up an issue I've been meaning to write about, but I'm not sure if this is the proper post to do it in. I have been thinking lately that almost all possessions require maintenance of one form or another. The maintenance may be tangentially related such as needing space to put that something in, or it may be direct, like having clothing that requires dry cleaning. Given what I said above about being discerning about what responsibilities we adopt, I think we should be more careful about what we require, considering the ongoing cost be it time, money, or otherwise. I'll write about this later though.
My third issue is a bit more nebulous. I feel guilty. I live in a very expensive town with 2 classes. Lower class and upper class. There is almost no middle class here. The upper class is represented by second home owners, who cavort up here for the weekend leaving their million dollar home vacant most of the year, and home owners, who's only concern is the appreciation of their property, even at the expense of the townspeople. I have friends, who are older than I, who have worked just as hard as I, who can not even dream to afford a place in Mammoth. Why can I? If we do buy a place, will we too have our vision clouded by dollar signs voting in ways and making decisions which are detrimental to those who can barely afford to live here already. The lower class in Mammoth represent one of the leisure class in the famous quote, "At either end of the financial spectrum there lies a leisure class." They have come here to get away from the pressures of the city. Most of them do not believe money is the source of happiness or that they have to follow the dictated American dream as mandatory service in this life. Most eventually feel the pressure of age and begin to think twice about the role of money in their lives. This transformation is a common, sad one to watch in the individual. It is almost never greeted with gladness, but with melancholy defeat as an inmate returning to server the rest of his life sentence.
When the realtor told us how much the other tenants were paying in rent, we knew they were getting a good deal. The realtor, of course, suggested we could immediately raise their rent. Sarah seemed perfectly willing to do this, to offset what would be a higher cost of living for us. I didn't feel right about it, however. I know how hard it is already in Mammoth, and I have been at the receiving end of a large rent increase. I saw this debate as epitomizing one of my great fears as stated above. Money corrupts. I want to make sure it doesn't corrupt me. Through actions, instead of words.
My fourth issue is unreasonable. I enjoy our current situation. I love where we live, the space we have, and living with our roommates. Its been a great experience. The idea of giving that up to become an owner is a tough one. This emotional issue is unreasonable however, as our current situation won't last much longer anyway. The building we live in has been sold, and our new landlords will likely raise our rent or kick us out.
Fifthly, I am worried about slowing being assimilated into the American dream, which is NOT mine. I am worried about slowly being forced to become a consumer, working hard for someone else, for the right to consume. I began writing another entry some time ago about this issue, but have not completed it. Suffice it to say, I am skeptical about the true need to fit the American mold. I try and view it from all angles. I try and play the devils advocate against myself. What this means practically, is that I try and poke holes in my ideologies and how those ideologies manifest themselves in the act of living. I try and explain to myself that my current beliefs on what is important are unreasonable and that if I do not shape up now and get on the bandwagon, I will find myself left behind later in life. As much as I try, I can not convince myself the traditional way makes more sense than the way I've been steering towards. The only convincing argument I've come up with is that the system is too entrenched to fight and that being right doesn't matter. Because who wants to be right and alone or unhappy, when you could be deluded and content. The best example is the scene from the Matrix Cypher admits he would rather be in the made up world tasting steak than eating gruel in the world he knows is real.
Finally, I just have a bad feeling. I don't know why, nor if it my feeling is reasonable or not. I just don't feel good about it. I'm worried about the outcome and don't know why. I have a hard time trusting my own irrational instinct. Not irrational in the sense of being bad science, so much as I can't back it up with fact or reasoning. This whole thing comes at a strange time for me as an individual as well as for Sarah and I as a couple. Its a huge decision which will affect the next many years of our lives. Its a huge decision we have less than 2 weeks to make decisively. It also comes at a bad time as it is Christmas time, the busiest time of the year for both of us. It will be hard to get inspectors and/or other people we need to verify this is a good purchase.
On the flip side, the price is good for Mammoth. We wouldn't have to pay HOAs. The place would almost certainly go up in value over the next couple years. Our monthly mortgage payment would not be much higher than our current rent payment if would could at least maintain the current rent income the place already has. The place is definitely big enough for us (though it doesn't have a lot of closet space, nor does it have any outdoor storage like a garage.) The place is close to our work and I could still walk to work when needed.
I have to figure out what position I'm going to take. Right now, I'm still not sure.
Posted by wonko at December 20, 2003 11:11 AM
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Comments
It looks like you already knew the answer. Maybe all you needed to do was get it out.
Posted by: ginabeanna at December 20, 2003 12:42 PM
I appreciate your feelings toward buying a place and being a landlord. I understand what you're saying. I don't want to say that what you feel is wrong because feelings are not wrong. However, you're wrong :)
You feel bad about doing something because you think you're going to hurt other people. The truth is, you can't change society, so fighting it is only going to hurt you and your family. If this really is a good deal for the house you want to buy, than absolutely, you should buy it. You may not want to take it because you feel bad about raising rent for the tenants, but someone else will buy it do the same thing.
When you were at Cnation, the owners were always the last to take a paycheck, or get a raise. That was nice, but it hurt the owners more than it needed to. Do something for yourself and your wife this time. Buy the damn building and raise the rents. Then, if you want to, make up for it by being the coolest damn landlord in Mammoth! Good luck!
Posted by: Gamera at December 20, 2003 12:47 PM
I found your site when my refrigerator compelled me to educate myself about the Vons strike. I am one of the "baby boom mass", fatigued by life's struggle, attempting to live in ignorance until driven out.
Your insights and look at the world are so refreshing. A truth seeker. I hope you don't succumb to any pressure to change.
Posted by: Patricia at January 1, 2004 06:24 PM
Well, I keep trying, but its difficult. There's tremendous pressure to trade in my youthful exuberance for 'maturity' and common sense. As much as I try, I can't find a way to justify a sedintary life as making sense. At the same time, it seems doing just that and succumbing to the pressure would make life easier. Or would it? That depends on whether most people are happy or not. Are they?
Posted by: Wonko at January 1, 2004 09:14 PM
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