AIBU to be really scared of buying a house?

[Willow108]

Apologies to anybody who is not in the financial position to be about to buy a house and would like to be. I do realise that I am fortunate in this regard, have been very skint in the past and do realise the circumstances many people are in.

However, I am on the verge of buying a house with DH. He has previously owned his own house but we have rented for the past few years, partly because we couldn't afford to buy and partly because we moved areas several times due to work. We now have a reasonable deposit saved, are earning decent salaries and in the area we are living in can buy a fairly decent house based on the mortgage we can get. Our children are in very good local schools.

BUT- I am terrified. I have got well into my 30s without ever owning my own home. It feels like such a massive financial commitment. It will mean clearing out our entire savings, which have taken years to accumulate, overnight. It means committing ourselves to this area for a substantial amount of time. Am I mad to feel this way? I was much less nervous about other major commitments like getting married and having children, I'm not sure what is wrong with me. Can someone reassure me that these kinds of nerves are normal? It seems like most people are excited and really pleased to be on the verge of buying their own home and I feel nothing but anxiety and dread.

YANBU. I bought my first house last week. I loved my old rented flat. I feel terrified and am wondering what I've done. I wish I hadn't bought now. I only did it because I inherited a bit of money and didn't know what to do with it.

Gosh thanks everyone for sharing and for reassuring me that this kind of anxiety is also experienced by at least some other people. Its also so helpful to be reminded of all the advantages and positives that come with buying a house. It just feels like a huge step and I have left it so late, I am probably blowing it out of proportion. We are actually going to view a house later today that has a good chance of being one we make an offer on. I know I need to jump in and take the plunge and hopefully I will be glad later on that I did. Maybe buying is just like the difficult birth part and I will love it all once its over! Thank you again for your kind and wise words (smile)

And tkndnv I hope your feelings are temporary and that you will settle into your house soon and feel like you are home.

Don't look at it as wiping out your savings (though try to keep a contingency fund back if possible). Look at it as savings in another form - invested in property. No longer liquid cash until it is sold, but still there and still yours nonetheless. As the property value appreciates over the long term, so does any money you ploughed into buying it.

We bought our first property in December 1989 and I remember feeling just as nervous about it as you. Glad we did it though.

keep some money back. Fixes, repairs, job loss, improvements.

but especially fixes; boilers, roofs, things like that. The delights of home ownership!