Team Green PDX gets cozy with several Portland residents about home buying. Our first interviewee is Matthew Cuda, an MBA/ Environmental Scientist. He currently rents and lives on the eastside. He may or may not enjoy long walks on the beach.
Q: What is appealing to you about owning your own place?
A: The appeal to owning my own place is that it would actually be mine and that I could make changes to it that suit me. For instance, in my current rental I have this tiny kitchen sink that is not very deep. Water splashes everywhere and it makes it a pain to wash large dishes. If I owned my place, I would be willing to invest into a sink that is functional. The other appeal to owning my own place is knowing that the money I pay each month to a mortgage is going towards something I could own one day (an investment). I like the idea of having the control and security to make changes and not have to worry about an increase in rent or having to move.
Q: What is scary about it?
A: The commitment is probably what scares me the most. I think I could get past the idea of a huge loan, but feeling like I couldn’t move or change jobs easily scares me. Another fear is that relates to the commitment of owning a home is what if I can’t make the payments. My whole idea has been to have a job that I “liked” and was stable to make me feel good about buying a home. There are plenty of nice homes on the market that are within my price range, but I just am not confident with the overall job market. It’s the fear of the unknown……….
Q: What is your ultimate dream home?
A: A dream home? Or a home I could afford? I would love to have a house with a nice size landscaped yard, a nice large patio, a fire pit, and even a pool J. I would like to have 3-4 bedrooms with 2+ baths and a large garage. I would love to have a house that was 2 stories’, including a basement. I like the character of an older home that has been updated but am open to new construction as well. The Laurelhurst neighborhood with its craftsman style homes and large porches are very appealing. I think I could definitely find a dream place there! Overall I want a house with nice outdoor space as well as good indoor entertaining space where you don’t feel cramped. I could go on and on about other things I would find in a dream home if I had the opportunity.
Q: What do you picture buying for your first house?
A: I picture buying an older home (or condo) with some outdoor space. I definitely don’t picture myself purchasing a home that is fully updated with all the amenities and finishes I would like but probably something that is nice, livable, and a work in progress. I have seen some homes on the market that have the basic updates like windows, siding, carpets/flooring that are affordable. I don’t want to buy some place that requires a ton of work or that I won’t be happy in until I make changes.
Q: Do you feel adequately educated on the process?
A: Not really….. I have talked with a number of first time buyers and I think until I really commit to finding a place I won’t become better educated. I lack the knowledge of what I can afford and how much a monthly payment would be at each price range. I definitely feel I have more to learn.
Q: Any advice on renting/ buying for your lil’ brothers and sisters (those coming up behind you)?
No advice on buying obviously but renting, I would say rent in areas that you think you may want to buy in at some point. Make sure you realize that if you are in a long-term rental that it may be worthwhile to buy.
Thanks Matt for your candid input; your dream house sounds pretty rad! Here's a cute Laurelhurst home that may fulfill some of those Matt's wishes...now we just need to fix the job market!
