Home Buying Dilemma

It is just going to be another entry on my home hunting thoughts. Recently I have been quite troubled with the whole saga - choosing the right home to buy is certainly not easy. There are just too many factors in it. House or unit or town house? Free standing or semi-detached? 2 or 3 bedrooms? Location location location? With or without the car space? And most importantly, how much it costs?

I think what makes me struggle the finance itself. When we started looking around a month ago, we were mainly looking at the units or town house around Eastern suburbs - ranges from north to Kensington, south to Maroubra, east to Coogee and west to Mascot. I figured out that I should be able to get myself out of debt in 10 years if we settle for a unit or town house. I don't like the feeling of "owing" someone something.

But then someone older in FOCUS suggested us to look for a house with its own land, for the reason that it is the land that is valuable in the Eastern suburbs. It would provide kids a backyard to run around, and you have freedom to do whatever on top of your land. And a house is better for ministry in FOCUS - you can invite people over (I failed to see how a unit/townhouse differs though). Due to his influence, we have been looking at free-standing/semi-attached houses over the past 2-3 weeks.

However, the cost would bump up quite a bit, simply because houses with land cost much more than similar sized units/townhouses. With a bit of calculation, I would still struggle to reach debtless in 15 years, even at the condition that reserve bank does not introduce some outrageous interest rates. Due to my lack of trust (in myself anyway), I don't sit comfortably in the situation where I need to budget every penny in order to survive.

I started to reason with myself why it is not good to buy a house. If it makes me financially stretched, I might be more attached to work, which leaves me less time. Because it is a house, I need to spend time fixing this or that, doing the the gardens, etc, which leaves me even less time. I won't be so involved with FOCUS as a result. So at the end it is not a good idea...

For there is a time and a way for everything, although man's trouble lies heavy on him. For he does not know what is to be, for who can tell him how it will be?
Ecclesiastes 8:6-7 (ESV)