Wednesday, September 17, 2008

The house hunt is on

I'm 50 and have never owned my own home. It's for a number of reasons, among them the fact that until the past few years, I didn't make enough money, and wasn't sure where I would settle (even though I lived in Timmins for almost 14 years, but low-income years).

I am ready for home ownership, and the switch to putting a huge chunk of my monthly income into paying the freight on my OWN place, instead of someone else's. The timing is good, too, because with the stock market the way it is, home ownership is the only really safe investment that you can count on to give you a decent eventual return on your money. My mutual funds are in the tank.

So I've been pre-approved for a mortgage and have consulted my cousin, the realtor. Tomorrow morning, we go on six showings.

Wish me luck. I'll update as I can.

8 comments:

A. & J. said...

That's fantastic news! Congrats! What area are you looking to buy? Hintonburg is a good area to buy right now, it is piggy backing on Westboro's chic, without the prices right now. + you would be close to work. Good luck with your hunt. I hope you find something you love.

Newsguy Bob said...

I'm sticking to the East end right now. It's where I've been in the 3 1/2 years I've been in Ottawa, and close to relatives.

Thanks for the advice and encouragement.

John Mielke Photography said...

Congrats Bob!

Maria said...

Congrats Bobby! You sure you want to take the leap of home ownership? You know that every last penny will be going into morgage, taxes, maintenance, insurance etc... and may cut into your vacation budget!!HEH!

In any case, congrats once again and make sure to get something big enough for the 4 of us when we come down for tournaments.

Misster Kitty said...

Dude I thought you bought a Condo?!

Newsguy Bob said...

Check today's psot: I put in an offer on a condo.

Everyone thinks the pad I moved into last year is condo, but it's only a rental that will eventually be condo. I don't want to wait. Besides, the townhouse is much roomier. So don't worry, my Little Baklava, there is plenty of room. You and Hub can have your own room, Princess can have one of her own, and Sonny Boy can rock out in the rec room.

Newsguy Bob said...

And, oh yeah: the numbers haven't all been crunched, but one aim of going into ownership is to spend a comparable amount to what I pay in rent right now. So, travelling should be able to fit in to the budget, too, at least until my now seven-year-old car decides to take a crap. But it's a Toyota, so it should be good for a few more years. I hope.

Maria said...

wow that does sound like plenty of room. I think I will just sell the dulpex in montreal and move into your townhouse in Ottawa --- hey its not THAT far of a commute.