Becoming a Homeowner, Pt 4

Note: This part was written on September 1st. Currently, it’s the last in the series, but I suspect there will be a couple more parts coming. Those ones should be written and published in real time. While this one was written on Sept 1, I do my best to catch you up on everything that happened (SO MUCH) since part three. And yes, it’s as lengthy and rambly as usual.


Part 4: In which I, the incessant rambler and over-thinker, finally become a homeowner.

Welcome to our new home! We own it 🙂

That’s right: I AM A HOMEOWNER!

How insane is that? Even more insane, it’s not the townhouse we first fell in love with.

Let me catch you up, because so much has happened in less than a week.

So last Saturday, Colin and I went to see the townhouse and fell in love (part 3 of this series). The next day, we went back to the townhouse with Margie, Colin’s mom, and our realtor, Leslie. 

We pulled up as Leslie was just coming out of the house. She greeted us and then very quickly said, “Well, they’re definitely overpriced.”

I was intrigued. Did that mean we could get in for way less than we thought? Score! But then she continued to list some of her concerns with the house. Things we hadn’t noticed, like older appliances and a hole in the basement ceiling, came to light. Leslie also mentioned how busy the open house was, how the sellers had only lived there a year and how the realtor didn’t have any strata documents for her to look at.

To say we were deflated would be an understatement.

So we went to tour the house again and it was kind of painful. While Colin and I tried to point out all the parts of the townhouse we loved, Margie and Leslie continued to voice their concerns. There were the uneven floors, the heat in the second bedroom, the paint in the basement, and so on. It hurt to hear people talking bad about our house.

Despite the issues, Colin and I still felt that if we could get it for a good price, it would be worth it. We loved the location, the amenities, the space and the fact that a townhouse gave us three separate levels. But we were ignoring some of the issues. The complex is old – built in 1970. And there’s upkeep with a three-storey 1500+ squarefoot house. Plus, all the issues like ceiling holes and slanted floors we had missed the first time we toured.

So we drove off, feeling a bit less keen on our dream house but still holding out a bit of hope. We decided to check out another open house by Gateway station. We were in the neighbourhood, so what’s the harm, right?

As we pulled up, Colin and I noted how much we liked the look of the complex. The complex, Access, is right by the skytrain, but off on a quiet road. It was much newer (built in 2002), looked great from the outside, and was a four-storey condo complex, which we like much more than the high-rise condos.

We arrived intending to look at just one apartment but ended up touring three.  The first was a one bedroom plus den loft apartment. We knew that wouldn’t be enough space for us but the realtor was waiting outside happy to show the space, and we were excited to see a loft.

We loved the loft! It was awesome to have the levels and the super high ceilings. And there were even mountain views! Unfortunately, it was more of a home for one person or two people without much stuff. A two bedroom loft might be an option but we’d get priced out of that pretty soon.

The next was the apartment we had come to see – a two bedroom on the third floor for $375,000. While I loved the wood laminate in the living space, the layout was what I’m calling “skinny rectangle.” It seems to be the default condo layout. The skinny rectangle is when you walk in and it’s just one straight line of space for the kitchen, dining room and living room. Everything always feels very tight and would be impossible to try and put desks or even a proper table in there.

As we were planning to leave, someone mentioned that there was another two bedroom having an open house in the next building over (same complex). We figured while we were here, we might as well check it out. Funny how a fluke tip to check out the next building would totally change everything for our house hunt.

We headed up to the apartment on the second floor. We stepped in, and immediately we were all smiling. The space was big, it was bright and, most importantly, it wasn’t a skinny rectangle. There were multiple spaces, little corners and tons of windows. The bedrooms were a good size, there were lots of closets, and the floors were nice. The kitchen was good and the balcony was large. We were pretty impressed. Until we heard the price.

$409,800.

Well, that’s why we hadn’t seen this place online. I generally ignore everything over $400,000. I understand paying over four in New West but in Surrey – c’mon! But at the same time, we had never seen a layout like this before.

I mentioned to the realtor that she was priced over $30,000 more than the other two bedroom we had just seen, and she replied that it was due to the space. She also slipped in that they would be reducing the price the next day. I nodded politely, assuming this had been a wasted open house for us since there’s no way we could afford it.

So we emailed our realtor and casually mentioned that we were interested in this place and the potential price drop. We also sent a couple more apartment complexes that we were interested in, Ethical Gardens and Pacifica. Our realtor let us know that this unit in Access had actually been on the market for over 40 days, which was a promising sign. On Tuesday, they reduced the price from $409,800 to $398,000. Our ears perked up.

At the same time, we were dealing with all of our mortgage issues.

The main issue was our push to use the mortgage professional we had been working with and Margie’s reluctance. To do our due diligence, we agreed to take a meeting with her bank. On the way there, Colin and I agreed that we would keep open minds, but not sign anything. We wanted to be loyal to our mortgage professional who had been so helpful thus far.

To our surprise, the meeting at the bank went way better than we thought it would. Margie’s guy, Saj, was personable, knowledgeable and definitely looking out for her best interest. He broke down all the numbers, was able to offer us a great rate and was patient with any questions we might have.

To summarise a lot of back and forth, we ended up going with Saj and Margie’s bank for our mortgage. We felt bad that we couldn’t continue with our mortgage professional. But having Margie’s support was important for our mortgage. And for Colin and me, we wanted to make sure we were getting a good rate and working with a good person. We get both of those things from Margie’s guy at her bank.

During this time, we also let go of our townhouse dream. The age of the complex and the issues brought to light were starting to make sense to us. And the fact that both our realtor and Margie were against it wasn’t a good sign. Colin and I agreed that our next home could be a townhouse, but we could let it go this time.

So on Thursday, we arranged with our realtor, Leslie, to go back and visit the unit at Access again. We were excited to tour it again and liked it even better the second time. I didn’t let myself start thinking that it could be ours yet – I didn’t want to get disappointed. But I was definitely getting attached to the place.

Leslie really liked it. She pointed out how rare the layout and location of the unit in the building was. She understood why they were trying to price high but believed there would be some wiggle room. It was really reassuring to hear Leslie speak so highly of the unit as she’s had experience in that complex. She said she hadn’t seen anything like that one before. We got even more excited.

We also checked out a unit at Ethical Gardens. I could tell as we were walking through, Colin was already sold on Access. While there were some pluses about Ethical Gardens, like a super long kitchen, giant closets and proximity to the mall, there were some noticeable downsides. For one, the living space was tiny and likely wouldn’t hold a couch and a dining room table. It wasn’t the one for us.

Ethical Gardens. Lovely building, but not the right one for us.

So as we walked back to the car, Leslie gave us some more info and said to call her if we wanted to put in an offer on Access. We headed home to crunch some numbers but I think we both knew what we wanted to do by then.

We called and officially put in an offer.

And then that’s where the real drama and waiting by the phone began. There was a counter, and another counter. There were multiple contracts to sign. There were emails. There were calls with the realtor, with the bank and with each other. And there were rushed texts and constant inbox refreshing.

All to say, just over 24 hours after our initial offer, we were signing the final contract. We accepted their latest counter and we were officially buying a house. Ahhhhhhhhh!

Of course, there’s a little asterisk next to that. We have the next week to remove subjects which means we need to do the home inspection, appraisal and make sure all our financing comes through with the bank. If no red flags come up, we’ll pay the deposit next Friday and officially be homeowners. And then we pay up on October 5th and get the keys October 6th.

How crazy is that?

It’s insane to think how fast everything has gone. In the big picture, it’s a little crazy to look back and see all that has happened in a year. Next Friday, the day our subjects are removed and we officially get the house, is September 8th – a year to the day when Colin’s dad, Randy, passed away. I would have never believed if someone told me at this time last year that by now I would be living in a condo in New West with Colin and our dog, working fulltime as a freelancer, and now buying a home. Unbelievable! Colin joked that we might as well get married and have a baby this year just to get it all done.

And while it feels like I’ve been looking at homes forever, this part of the process went way faster than I thought it would. I’ve been looking online at homes for a few months. And in that time, we’ve probably been to about a dozen or so open houses. But I never would have imagined that we’d go to an open house, schedule a viewing, put in an offer, go through negotiations and have a signed contract on a house in less than a week. We saw the place for the very first time on Sunday and had a contract signed before Friday night’s dinner. Insane!

Colin and I were also saying to each other how lucky we got on this one. The very first home we put an offer in was the one we got. Of course, our first offer wasn’t accepted; we had to negotiate. But still – it was all with just the one home. And we weren’t in a situation with multiple offers where we had to outbid someone else. I always assumed if we bought a home in the Greater Vancouver Area, we would be searching for months, putting in offers on a few places before one worked out, competing with multiple offers and being forced to pay way above list price. But nope, none of that happened! Maybe that’s why people move to Surrey…

So yeah, that’s my life right now. I still can’t truly believe that we have a house – that we are homeowners. It sounds so crazy to me. I’m not sure it’ll feel real for a while yet. I wonder if it will feel the same as just renting in a new place. I hope not. I hope it’s different. I hope it feels like home. And I hope we’re happy there for a long time. Or a long-ish time.

And until then, my brain gets to be filled with all of the logistics and stuff we need to get done. For the next week, we hold our breath and wait while the financing, inspection and appraisal get done. We cross our fingers and hope that nothing bad happens and we can get everything finalized on Friday. My mom is also coming in from Toronto on Friday, so we get to bring her to the place, which is even more exciting.

And then there’s all the fun of moving. We have to tell our landlord we’re ending our one year lease super early and hope he’s forgiving about any penalties we have to pay. We have to switch our internet over, which was such a headache when we moved here from Kits. We have to cancel our utilities and start new ones in Surrey. We have to figure out home insurance. We have to pick paint and hire painters. We have to get boxes. We have to rent a uhaul.

I sort of feel like we just moved – which I guess we did, since it was only Feb 28 that we moved in here. So crazy that we’re going to be doing it all over again in such a short amount of time. But hopefully after this one, we don’t have to move again for a long time.

I’ve never lived in the same place for very long, and even less so in my adult life in my own homes. The longest would have been 14 months at my place in Kits before this one. So it’s interesting to think that this is going to be a long-term move. We don’t think this is our forever home, but it could be good for a long time. There’s enough space for us to be comfortable there as two with a home office/guest room and space to move the office into the main room, should we want to put a kid in the second room sometime down the line.

And it’s a move to Surrey, which is bittersweet. I know Colin is so excited to be closer to his friends and close to work. I’m excited for him. And I’m excited we’re by a skytrain so I can go and see my friends. And I know our neighbourhood is just going to keep getting better. The sad part is being just that much farther from Vancouver and leaving New West after such a short time. If we are going to be looking for more space for less money in our next move, it will likely still be in Surrey or even farther out. So New West isn’t really in the cards, at least not for a long time. Maybe we can come back here as retirees 🙂

But it’s all exciting! It’s nerve wracking and there’s still so much to do and wait on. But it’s exciting! We bought a house. We’re homeowners. That is just bananas!

Advertisements