Just got a house under contract, am I crazy?

[Chris Paez]

This will be owner occupied and is double the size of my current home. We are getting at 20% off retail value direct from the owner. Does that even mean I'm getting a deal in the face of this recession? 

This home is in a A class neighborhood in a suburb of Los Angeles. Im fine living here for the next 10 years with my growing family, so Im pretty secure in waiting out a downturn. Either way, I'm feeling the pressure. Escrow deposit is being made tomorrow so I'm tripping out if its the right thing to do...

I've already had a lender go through my financials with a fine tooth comb, but I'm also weary about the banks coming through on the loan...

Any input or guidance from this awesome community would be greatly appriciated.

[Hector Naranjo]

Hey Chris,

Well not sure if there is much value in my response here as I'm new here and my only real estate experience was buying a single-family home in Buena Park in 2011 and selling it in 2015. But I would say to have faith in what your doing. I have heard from a lot of people saying that Real Estate is forgiving and the fact that you are taking action is always a good thing. I find myself sometimes looking into too many things at once, trying to learn everything and I end up not doing much with it. The greatest advances in my life happened with decisions that pulled me out of my comfort zone. You will do great, and even if something didn't work out as planned, you are sure to get some experience you cannot learn from watching youtube videos.