Don't we all ask about the Woulda Coulda Shoulda every once in a while?
If I woulda taken this short cut, I coulda saved a couple of minutes...
If I coulda met with the buyer on this day instead of that day, they shoulda gotten an offer accepted...
If I coulda talked with this person, I woulda saved a lot of time and energy...
If I woulda locked in my rate on this day, I coulda saved so much over the life of the loan...
Every situation has a Woulda Coulda Shoulda, but you can't live your life always thinking back.
When I first found out last summer we were going to move, rates were at 6.75%. YIKES! Those are high rates!! Comparatively speaking. When I first got into real estate back in 2000, an 8% was considered a good and "low" rate. The rate on my first house was 7% and I thought that was awesome.
But to have to "suffer" with a 6.75% was a lot to take.
Back in the summer of 2005, I bought a house and eTrade was offering a loan that you could take with you on your next purchase. There was no time frame in using this rate. If you moved in 2 years, you could take it with you. If you moved in 20 years, you could take it with you.
At that time, in order to obtain the movable loan, eTrade was charging about 1/2 point. Then we had to run all the scenarios as to why we would want to pay $X amount each month for the "just in case" rates went up when we bought in the future. The rate was "only" 5.5%.
Last summer, my husband and I were kicking ourselves over and over again about "We SHOULDA taken that movable rate! We COULDA saved so much money if we WOULDA done that!"
It took 9 months for our house to be built. Do you know what happened in those 9 months? Rates dropped and dropped and dropped.
Even though we beat ourselves up over and over again during all these months, we watched rates drop below the movable rate, and even below the rate on our last house. Between the original rate of 6.75% and the rate we locked in at last month, we're saving approximately $500 a month!
Once rates dropped below the movable rate of 5.5%, we then "flip-flopped" saying how glad we were that we didn't spend the extra money each month to be able to move that rate. The difference between the movable rate and the previous rate we locked in was about $400 a year. We were in that house for 3 1/2 years. That's $1400 extra we would have paid to NOT be able to use it for that "just in case" scenario.
So, even though we spent months kicking ourselves, it turned out to be the better decision in the end. Second guessing every decision and choice you make is not good. You can't go back in time and change them. You can't run every "just in case" scenario and expect to always come out ahead. Just listen to your instincts, and you SHOULD be fine.
**Are You Packed Yet?**
Austin, TX and the surrounding areas of Lakeway, Bee Cave, Westlake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Whether you're buying or selling, I'll be with you through the entire process.