Conditions are Waived!

This morning we officially removed conditions on the house we are buying.

In my blog post from May 20th, I talked about buying a house. The title of that blog post was ‘motion’, and I talked about the importance of creating it. At the time, we were looking at either the house we were renting or the house right next door. I detailed it two months later in another blog post, this one titled “Pros and Cons’.

We decided to go with the fix-er-upper’, the one we’ve been renting.

We love it. We’ve been living here now for nine months, and it’s been great. There is something satisfying in the having a park right next door, and also satisfying in restoring and fixing the house. Simple things like under-the-cupboard lighting, locks, staining the fence, etc. It’s got character. I suppose the same could be said for a person -> healing, getting stronger, bringing out lost potential.

And we scored 20% down, avoiding CMHC fees, and an interest rate of 1.89%. Right away, we save about $350 a month from what we’ve been paying in rent. Beauty. I think most of that and more will get swallowed up in renovations, but that’s ok. I consider that a bit of a ‘forced savings’ account, if done correctly, meaning we’ll see it on the selling side, if we ever do. We also have a large margin there, as you might have read from previous posts, in that I was approved with just my salary (not including my wife’s) for approximately $100,000 more than what we paid for this place.

That said – I’m going back to the jet! If you haven’t learned, I’m a pilot, and I think everyone knows COVID was pretty hard on the aviation sector. So I got bumped out of my jet position onto a prop position, and now as things start to recover (hopefully?) they’ve reaclled me back. And I’m back in a part-time position, otherwise known as a reduced-block pilot position. So that means instead of upwards of 16 days a month of work, I’ll be capped at 8, and I’ll get about 2/3rds the pay.

Yes, yet another pros-and-cons list.

But in this instance, living in a margin has helped! We’ll likely see how the first couple paycheques shake out and see how much of that margin has evaporated.

At least it was there to begin with! And now I can enjoy some time with Baby 1 and Baby 2.

The view from the ‘new’ place

Motion

My Pastor has explained the importance of creating motion. Once you are moving, it’s easier to be redirected. And right now, I feel like we are in motion. My last blog post I was talking about our new tent camper, and how we’ve had to figure a few different things out. One of them, last night (and this morning), was how to work the furnace. We just keep figuring it out.

Sometimes, in the thick of it, it can be a frustrating thing. I don’t like ‘giving up’, but as Pastor Craig Groeschel says, sometimes the way forward is to take a step back. Notice, however, there’s still motion involved. You don’t come to a stop. You can’t redirect something that’s not moving. The key is to just keep chugging along, and pick up different things as you go.

Right now we are thinking about buying the house we’ve been renting. So I approached my landlord, and he suggested we get an appraisal done. And that happened earlier today, and I should get a number early next week. We have a ballpark number we are willing to pay for the house, and I’m really curious to see where it comes in. Problem is, the landlord wants his costs covered – legal, mortgage payout, etc.

But right next door to ours is another house, similar format to ours. Backing into a park, on a cul-de-sac, garage, etc. But much better renovated. And the people in there used to rent the place we are currently in, and the owner is also a pilot with the airline I work for (and I actually flew with him, back in the day). They are planning to move end of summer, and the owner is open to selling that place as well. Which would save us a bunch of reno’s, and having to pay out the mortgage above (I think?).

So all I know is we get that number, and we should have a pretty good sense on if that’s close. Then we need to re-approach our current landlord, and then possibly the neighbor. One step at a time, but it’s clear what direction to go and now I just execute and go through the motions. It’ll be fun to see where we end up for Christmas!

You see, there’s always some sort of crisis that needs solved. Whether it’s dandelions in the backyard, restoring a 1961 Austin Healey Bugeye Sprite, fixing up an old tent camper, figuring out what stocks / ETFs / etc. to buy, sorting out a schedule, sticking to a budget, what to eat today, the list goes on and on and on. The key thing is to create a formula, and to not get too overwhelmed, and take it one step at a time (whether that’s forward, or sometimes sideways, and even backwards).

Stay in motion!

Photo courtesy of https://www.thoughtco.com/what-are-newtons-laws-of-motion-608324