Buying First House
- Started
- Last post
- 15 Responses
- Visia
oiy, this is a maddening experience.
I've pretty much decided to take the plunge and buy a place to live. Found a killer loft in the Queen West West village in Toronto.
Love it, great price, killer location, great view, totally perfect.
Now I'm in the middle of the nerve-wracking experience of buying something worth 300K.
Oiy!
- neue75_bold0
holy shit man, had no idea?!?
Fuck, well, congrats, I'm glad you have some nice furniture to put in it :)
You can have my Eames lounge too...
- Crouwel0
all your ottoman's are belong to me.
- grayhood0
i just did the same thing, enjoy it, and try not to think of the massive debt.
- chz0
Congrats dude!... I bought a townhome in Vancouver back in Dec.
It may be stressful now but once the deal is all said and done and you finally take posession you will be in heaven. I've already made 70k off my place in 6 months time!
- chz0
Forgot to ask... what percentage are you putting down and what interest rate are getting?
- Visia0
Neue_75 is the neue Snuggles I see.
Yeah dude, I had no idea myself. It just so happens that this development is going up across from the Drake (yeah, go ahead and laugh) behind the Aritocrat loft building.
The unit I'm going to buy is 800 sq. ft., 10 ft ceilings, full floor-to-ceiling windows on the north and east exterior walls, 1.5 bathrooms, Scavolini kitchen cabinetry included in my choice of finish, 5 stainless appliance (brand to be determined), full-size washer & dryer, fully tiled bathroom in my choice of inch-by-inch glass tile, basin sinks, my choice of stone kitchen-counter top, two bedrooms (for me a bedroom and an office), sliding frosted glass pocket doors for all the doorways, fully mirrored closet doors.
277, 900.
Slightly above average pricing but it's my perfect place. It's exactly what I'm looking for. Not a "loftdo", perfect location, perfect view, full gym, rooftop garden / BBQ. Rooftop waterfall that feeds the counter-current pool for lap-swimming (my fav), a pedestrian bridge that goes over the CN rail tracks and lands in a park just across the street from the soccer stadium in Liberty Village.
The financials are killer though. I can afford it, but there isn't a huge margin left for error. I'm planning on putting down either 10 or 15% depending on how I can work my financials out.
I don't know exactly what my mortgage rate will be. I think 5.75%. But, a life-long friend of mine is a mortgage broker and a CFP so he's taking care of all that shit for me. I know that I'll end up paying about 2K per month including mortgage, maintenance fees and land taxes.
My brain hurts real bad though.
- mrdobolina0
congrats visia, that place sounds great.
- _b_0
thats a crazy low interest rate, you fixing for a term or is that floating?
current fixed for 3 - 5 years rates in New Zealand are 7.6 ish percent and up
- Visia0
oh, I should mention that the north and east exterior walls are full windows. The entire wall. Tonnes of light. Plus, the eastern wall view is a clear, unobstructed (for now) view of the city skyline. Nothing but bank towers and the CN tower. It's kickass.
Plus, an open-concept "rainforest" shower if I choose that option.
Mike, cool shit about the furniture. If you're not planning on ever taking it back then I'll buy it from you for sure.
- neue75_bold0
sounds amazing man. I don't envy the responsibility, but I know where I'm staying when I visit....
yeah, we'll talk about the furniture...
- mrdobolina0
watch out for the couch, I pee'd on it.
- davey_g0
Most solid and low-risk investment you can make. Never look back..never I said!
- Visia0
FNA Snuggles (AKA neua75) rightn now it's the nicest stuff I have in my house. Besides the fucking beautiful Zebra-wood bent ply dining chairs I just picked up from GH Johnson a couple of weeks ago. that's right, no more borrowed bullshit bright red ikea plastic crap.
I gave those back to Kelly and she had serious nightmares and literally put them out on her balcony down on Queens Quay. Fucking weird but shes an interesting girl.
Anyway, heres the rub: I'm buying this place, but am I spending September in Eurpope anymore? Maybe, probably at least 3 weeks. But, it's a huge this and that life altering thing.
I've got to figure out how to do both.
Fuckit, I love a challenge.
- Visia0
and, also, thanks for the congrats and the backup that it is a solid low-risk investment.
It's just so fucking daunting. It's so much cake that it sits you down and makes you think about your whole life.
But, I met a chick at the bar tonight that did the same thing 3 months ago in the previous hot-shot development (Toy Factory Lofts for the Torontonians) and she said that she's already turned 60K and shes a year away from the occupancy date.
So, that was reassuring as well.
- welded0
For some reason I read the topic as "Buying Flying House". Now, as awesome as it is you've found a great place, it's no flying house. Sorry to rain on your parade. :\