So, Rory (my long term boyfriend) and I are taking a hard look at the possibility of home ownership. I can't condone renting any longer. Why pay off someone elses mortgage when you don't have to? Mind you, I am trying to get a place with a separate suite to have some other poor schlub to pay off mine, so really, I can't hold it against my landlords. But holy smokes, what a responsibility!
They should be teaching a life skills class in high school just to prepare you for this! Land taxes, land transfer taxes, lawyers fees, mortgage rates, housing insurance, renters insurance, making sure the suite is egress, and the list just goes on and on. Is the roof good? How old is the hot water heater and furnace? Is there water damage? Hows the foundation? Separate utilities for the suite? The thing that got me the most though was having to pay an inspector just to LOOK for external things that could POTENTIALLY be an issue, and pay him REGARDLESS of whether you buy the house or not.
Geeze... New floors, drywall, renos, renting, painting, moving.... I'm getting exhausted just thinking about it. Will the buyers accept my offer, how much is too much? I just want to scream ENOUGH!
... and maybe I will.
Maybe I'm not ready to be that grown up yet.
I guess we will see.
