It’s finally happened guys! I found my home!
Ever since the “Smart Woman Blog” was born in January, 2015, one of my dreams and goals had been to buy my first house. I wrote a ton of stuff on my feelings about home ownership and my slow progress towards making this goal a reality since I created this blog. Here’s a quick recap:
My ‘First House’ Hunting Story
- We Almost Bought A House – December, 2015
- My Biggest Money Lessons in 2015 (including a revelation about home ownership) – January, 2016
- The Hunt For Our First House – April, 2016
- The Real Reasons Why We Have NOT Bought A House Yet – August, 2016
- Update on my Down Payment Goal – August, 2016
I have been on the roller-coaster about whether to jump into home ownership or try renting first and investing the rest of my cash; an added incentive was that rental markets are awesome here in Calgary right now.
I’ve also dabbled with putting off home ownership until my student loans are completely paid off – right now, I have $18,200 left on my $40,000 loan that I started chipping away at 2 years ago.
On top of my own hesitations about committing my finances to a single home for the next 25 years are the new knowledge I learned about the realities of buying a house. I’ve read tons of articles why buying is a smart idea if you can afford it in this economy and tons more highlighting the merits of renting and the downfalls of owning. If you were looking for a single correct answer, you would never find it.
If you look at the last two posts I wrote about home ownership – the reasons we haven’t bought yet and my down payment goal update – I came off pretty pessimistic. That’s because I was getting tired of looking at house after house, getting beat out at bidding wars and then getting frustrated at if I’m even making the right decision in buying a house (cue student loans and the sucky economy…).
I was ready to take a break and hustle at saving more money and paying down debt instead.
But the universe has a funny way of working… kind of how you find your partner when you aren’t looking sort of thing.
This cute little house showed up in our emails and it totally sounded too good to be true. I even questioned whether they had somehow put a typo in their asking price (that they actually meant $537,000 not $437,000) or that it must have been a grow-op. Man, I was skeptical to the max!
Long story short… within 3 days, we went to see the house, put down our max offer, crossed our fingers while waiting and won the bid for the house on September 27. 😀
A New ‘Can of Worms’
With the sellers agreeing to sell to us, a whole new whack of learning experiences were coming my way.
I’m about to buy a friggin’ house!
What came next were the adventures of applying for financing, completing the purchase and conditions with the sellers and going through the proper steps to set myself up properly for this new responsibility.
I’m in the middle of reworking my budget and shopping around for amenities and utilities for the house. My coworkers (on a lovely not-so-busy Thanksgiving night at work) helped me create a list of “absolute essentials” I’ll need to start with. Having never lived on my own before, I’m basically starting from zero – both a positive and a negative I think.
I plan to acquire furniture slowly for the house because I want to make sure I’m only buying furniture and things that I’ll actually use (I mean, decorative pillow are nice but do I need 50 of them on my bed??!).
I am absolutely excited and extremely nervous about living on my own in this home. My lifestyle will change and I’ll be going through a huge transition in the coming months.
But hey, I’m kind of excited about paying my own bills now… (famous last words?)
If I’ve disappeared for extended periods of time, know I’m probably just at home meal prepping or shovelling my driveway in the winter – getting used to taking on 100% responsibilities of owning this home (but really only owning 7% of this home).
Oh and if you’re wondering what’s the deal with this post’s title… The possession date happened to fall on November 2, which is my 25th birthday. So this is, so far, the biggest birthday gift I bought for myself.
I think it was just meant to be that this house happened upon us at this time… I mean, things just lined up so well this time (it’s kind of freaky but I never question the powers that be).
In the next coming months, expect tons of new posts about this new chapter of my financial life – think new budgets, goals balancing and transitioning type of posts. This drastically changes things and we’ll see how we deal with all the new stuff. Let me know if there’s anything you’re curious about as well!
Are you a homeowner? Do you remember what it was like when you bought your first place? Do you have any words of wisdom to share with a new “mortgage-owner” like myself?