Monday, August 20, 2007
It's been a long(ish) haul. After about 4 months of looking at properties, being outbid twice, being turned down once, we finally had an offer accepted on a townhouse.
We removed 3 pages of subjects on August 17, 2007. We signed the "removal document," visited the bank the next day to sign off on our mortgage details and hired a notary public to handle the rest. Closing date is August 27. The inspection was done on August 15. Home inspection that is. Yep, I'm buying a home. There is no turning back now. I've already begun to frown at price tags and walked away from things "because I have a mortgage now." I hope that ends soon. I don't want to live my life house poor. I hope to never utter the following statements:
"Sorry, I can't do that because I have a morgage."
"Sorry, I can't eat there, I have a mortgage."
"Umm sorry, but are you not aware that I have a mortgage?"
I recommend that people heed the warning that closing costs are surprisingly high. The Property Transfer Tax (PTT)* alone is a killer.
It feels good to be in the market. In Vancouver and in a home we both love.
*NOTE: If you are a first time home buyer and your property is under 375,000 the government waives this tax. Unfortunately, I didn't qualify.