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Bought house mid-2023, then my income decreased. Have roommates but feel anxious. Options?

I (single 28m) bought my townhouse at peak pricing in my area with a 2-1 buydown in mid-2023. I was making more money than I'd ever made in my life and felt that would continue. Mortgage is about double what I could rent the place out for, and will continue to increase over the next two years due to the buydown. I feel that I was too trusting of coworkers who urged me to hurry up and buy anything I could get instead of continuing to rent my small apartment, and told me to get roommates since I wasn't comfortable even at that time with the monthly payment, because buying houses is the way to financial success.

Shortly after buying my income drastically decreased due to me being in sales, paid by commission, and my company making bad decisions.

Now I have had no problem maintaining paying roommates since literally the same week I moved in to the place, and my expenses are still lower currently than when I was renting an apartment (although that won't be the case once this buydown period is over) because of the income from my roommates, but the fact that without roommates I could not afford this place and groceries at the same time terrifies me.

Zillow estimates the value of my home has decreased by $5k since I bought it.

The home has an unfinished basement that I have partially finished with the intention of renting out to further supplement the mortgage, but then I got severely injured in an accident about a month ago which is preventing me from finishing it the rest of the way and also obliterating my emergency fund from medical bills.

I know I will probably just get told I'm an idiot (I know I am) but if anyone could provide some advice it would mean the world to me. Do I just continue on in this precarious situation until the market brings prices to where I can sell and break even? I cannot afford the loss of selling right now I don't think.

submitted by /u/BesselVanDerKolk
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1bk10sq/bought_house_mid2023_then_my_income_decreased/
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