First time jitters normal after closing?

[Eric P.]

We finally closed on a perfect house for us.  Its a little big now, but we plan on growing a family in it.  Now that we've moved in and are unpacking I find myself feeling uneasy.  Like this constant feeling of "OMG what if I suddenly can't work and can't pay for this anymore?!"  Now both my wife and I have good jobs, her for the state, and me with a small company where I handle all operations so we are quite secure (knock on wood).  We could limp by on just one of our salaries if need be, and we have about 6 months worth of mortgage/tax/insurance payments in the bank.. But for some reason I can't shake this feeling.. Is this normal??? I hope it goes away sooner rather than later.

[Jane A.]

Just build higher reserves to feel more comfortable. Everybody has different feeling about accepting risk. By the way, when you will start building your rental portfolio banks will like to see your cash reserves at your bank accounts and Roth IRA accounts (my preference is Roth as you could take back your initial contributions tax free if you need to). Rental will be adding passive income and responsibility as well :))) try to find what level of leverage is comfortable for you, and what is your possible plan B. The beauty to have a bigger house is - it is appreciating better, you could take financing against it if you need to to buy more rentals and in the worst scenario you could rent out rooms for students :))) or develop bed and breakfast business :))) congrats on your first house !