I'm not sure if this should go under real estate/landloring forum but I'll take all the advice I can get.
My fiance and I purchased our first home in August 2018. My buyer’s remorse started the day we got the keys. Since then, I’ve had the worst anxiety I’ve ever experienced in my life; panic attacks included, and I have started seeing a therapist as a result. I realized far too late that I am not mentally ready to be a homeowner.
We purchased a 90 year old craftsman home (in Portland, OR) with nothing known to be wrong. Prior to buying, we had a general home inspection, radon inspection, sewer scope inspection, oil inspection, chimney inspection, and furnace inspection. Since moving in I’ve had a roof inspection to put my mind at ease about the roof, and have had many professionals over (foundation, drainage, hvac, electrician, etc). Again, nothing is known to be wrong with the house but I can’t help but be fearful that we’ve purchased a money pit and I’ll that I’ve worked hard to save will be down the drain.
We bought at $405k and put more than 20% down. Last year I made $320k with this year will be about $300k. My fiancé makes $70k. I have about $400k in investments, savings, and 401k. My fiancé has about $60k in 401k and savings.
Now the question is what to do? I’ve really been questioning if this house is worth my mental health. Every day I think about the home – what could go wrong and the financial impacts. I feel like a crazy person. I'm doom and gloom all the time. Its impacting my relationship with my fiancé and many other parts of my life. We are also planning our wedding and I feel as though I can't enjoy that.
I’ve been going back and forth with selling the house next year (2019). If we sell before our 1 year anniversary, we will pay 35% of the appreciation in taxes. If we make it to Aug then only 20%. I’m not sure how much the house will appreciate within a 1 year or less than a year timespan so I’m not that nervous about those costs. The biggest cost will be the seller’s commission. Regardless, I expect it to be expensive. Financially it would make no sense after paying the closing costs to buy the home (about $8k), what we pay for upkeep this year (we’ve already had the ducting cleaned, chimney cleaned, gutters cleaned and still need to get the roof demossed), and whatever is needed to sell.
What should I do – sell - get my mental health back – and pay (tens) of thousands of dollars. Or try to stick it out for 2 years, hope the house appreciate enough to cover the agent’s commission. But then what kind of life would I live for 2 years? We are 30, no kids, planning a wedding and should be enjoying life!
What to do? If we sell it becomes a money pit. If we don't then i'll be in a state of anxiety/fear/dread that it will become one - and not be able to enjoy my life.