Today I am having a weird day.
the bad things- traffic, my aching back/jackass doctor, insurance bullshit etc, having yet to overcome the fact that is Friday (TGIF).
It's Jenner's birthday, aka, the worlds most calming woman, therefore it calls for passive, heart-warming celebration.
Wait, am I an adult? "passive celebration"? Perhaps. actually, yes. Which brings me to my next point:
I may or may not be looking at houses next week.
no, not to rent.
to buy.
BUT!
don't gasp just yet: I am not likely to buy a house any time soon. (student loan will make sure of that.) But am I ready to start exploring the market. With a friend who is a real estate agent, why not?
crunching the numbers, realistically, if my credit was better I probably could buy a house right now. I pay about $700/month in rent (including my storage locker) and mortgage on a $150,000 home is about 800/month. Add a tenant and a roommate to the mix, and I could technically be making money. But I don't want 100% financing, so alas, I peek at my options with minimal intention to buy.
Andrew, my "not actually" real estate agent specializes in income properties and "fixer-uppers" (flips). Which is ideally what I would be looking for. I couldn't afford my dream house any time soon if I tried, and I need something to build upon so I could add value to the home. and of course, I want to make it my own. If it has good bones and everything functions perfectly, I could live with things being dated as i improve the home room by room.
So, as the experts suggest, the first thing I need to do is really sit back and think about what I would want in a home.
-Income property. (Needs a flat or basement apartment.) Nothing I have to finish myself. I wouldn't mind doing minor improvements but generally speaking, this part needs to be move-in ready. I need someone to start putting money in the bank asap. The best part is that I know I would be able to rent friends no problem, which is ideal because I trust them the most.
-Location. Needs to be located in either Halifax or Dartmouth otherwise I would have to rent to someone I don't know which I am not comfortable with.
-Needs to be located close to a bus route so my tenant has accessible transit.
-2 or 3 bedrooms. preferably 3 but this may be ambitious.
-At least 1.5 baths aside from the apartment
-Hardwood floors, but I could be flexible with well-maintained carpet in the bedrooms. It can even be carpeted throughout if there is original hardwood underneath which I could reveal.
-Decent sized yard
-large closet in the master bedroom
-Bright, eat-in kitchen
-It has to be in good condition as far as plumbing/electrical/foundation/windows/roof goes. Any upgrades I would do would have to be cosmetic.
Some things that I would love but am willing to be flexible about in a first home are a working fireplace (looks good and is cheap heating), and a mud room and/or sun room. That has always been a dream of mine.
This sounds like a lot, but realistically I am not asking a lot. Considering my connections within the design community and my master craftsmen father, I could really fix anything dated for a decent budget. I just need it to be structurally sound.
I had a goal of paying off my student loan and buying a house within 5 years, but I have worked really hard this year and I think I can be honest with myself in bumping that goal to 2 years. 3 years max. Maybe sooner.
Karma baby, Karma.
xo
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4 comments:
this is so amazing
i really hope you do it
i think your goal is fully realistic, and i know you can do it, because you want to.
i cannot wait till the day that you find a place to call your home you own xx
i wish i could have as amazing a goal as that, but my goal will have to be stretched to about 3 years probably.. shit is expensive over here xx
that last comment was me! sorry! i just wanted to say that i think your dream is totally attainable, and if anyone can make it happen its you! I can't wait to see how amazing you will make your little house!
Wow, pal, if anyone can do this, you can.
I'm in no position myself to be buying a house right now, but the idea has still wormed its way into my heart. So many of the things on your wish list match my own, like a sunroom, a fireplace and hardwood floors.
What's encouraging is that a house is often more realistic than many realize. Seg's pal Simon just bought a house in Oakville a month or two ago (Oakville! $$$$!) But with roommates, he's made it affordable for himself.
Someday.....
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