It has actually happened. On the 28th of April, Peter and I put an offer in on a house and it was accepted. Today was the final day of the conditions and the sale will be official at 9pm! We have house #2!! Still can’t believe this has all happened so fast. It has been just over a month since we started looking and now it is a reality. We had a bit of a hiccup with our financing, but it all worked out in the end. We ended up having to dip into our savings to pay out my car loan and we were good to go after that. I know now that car loans are BAD debt and to never do that again! Hey, at least I learned, even if it was the hard way. I don’t regret the purchase of my car though because I absolutely love my Matrix!
The inspection was on Monday and it went pretty well. Nothing major to report except that the hot water tank/heater had evidence of a little leak. There were some cosmetic things that would need to be fixed, but no rush for those. The house was built in 1985, so a little fixing up was expected. We are lucky that Peter and his Dad know how to do most of the work themselves. It will save us a lot of money. However, we still managed to get an additional $1500 off the purchase price because of the hot water tank.
In regards to our first home (and the one we are currently living in) we plan on renting it out for a few years. We have just under 4 years left on our mortgage term with the bank and around that time is when we will think about selling. We’ll have to see what the housing market is like and if the construction behind our house is complete. Our possession date for the new house is August 1st, so we have 3 months to pack and get our current home rental ready. We have a few minor things to fix here too.
I am a bundle of nerves and anxiety, but I am also very excited to take possession and start our next journey at the new house.
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