No House

Wow, how life can change in just a few days. Last week, I was feeling pretty confident in my job, pretty confident that I could buy a house right now....This week--as of Monday, actually--I have lost confidence. We had a round of layoffs on Monday....and this time the selection was very surprising.

We last had layoffs in February--shocking in and of itself, as we had no warning, no idea, and the company had only had layoffs once before in its nearly 20-year existence. It seemed like more of a "trimming the fat" kind of deal, getting rid of low performers and such. No real surprises in who they chose to let go, though sad and a shock all the same.

This time, four months later, was a total shock. They had told us in February that they expected we would be okay, they had gone with a very conservative model, etc. Well, apparently it wasn't conservative enough, and we were NOT okay. Rumor has it that the company that bought us is looking at our numbers every quarter--hence the timing of this second round of layoffs. Makes me feel like I have a pretty good chance of losing my job come October!

What does this have to do with my house? Well...Monday was the last day of the option period, in which I could opt to terminate the contract, with minimal cost to me. Needless to say, I took the events and upheaval of the day, and the timing, as a sign that I don't really need to be buying this house right now. I did consider all my options, looked at everything from every angle--I considered that if something were to happen, I could get a roommate, I could lease the house out, I could sell it, or I could hand the keys back to the bank (NOT recommended!). After careful (but quick!) consideration, I chose to opt out.

My current living situation is such that if I were to lose my job, I could work something out. And believe you me, the relief I feel is far greater than the disappointment at not buying a house. It stinks a little, though, because I had an awesome rate, and I already had a closing date scheduled.

Oh well. I'm good with it. I hate my commute, but my rent is cheap (and could be cheaper if need be). It could well be worse--I could have a mortgage I could no longer afford, I could end up foreclosing....I recognize that buying a house is always a gamble, but right now I really am not up for gambling with that kind of dough.