Oh man, I did not think I would ever be writing this blog post. And I especially did not think I would be writing it so soon after confessing my ultimate heart break from being out-bid on the first offer we ever put on a house. But last week, we bought a house (and by house I mean the top floor of a 3-unit heritage building).
The house itself is beautiful. It’s in one of our favourite neighborhoods (what what Mount Pleasant!), across from a giant park, 16-foot ceilings, a deck, open concept kitchen…and our life long dream of in-suite laundry!
It’s the perfect home for us right now. However once again, I was completely unprepared for the emotional shit storm that descended upon us. Let me explain.
It all happened insanely fast. We saw the house last Sunday, Monday we scrambled to put our best offer in as we heard 4 other people were writing offers, it was submitted in person by our real estate agent … and at 10 pm on Monday night our offer was accepted.
All day on Monday I was emotionally preparing myself for the heartbreak if it was not accepted, but I was floored by what I felt when it was accepted: A GIANT FUCKING FREAK OUT. I mean of course the first moments were of true joy and tears of happiness and I was so glad not to have my heart broken like the last time, but then that intense joy turned into intense fear as the weight of the giant life step sunk in.
And I have come to realize this: That no matter how sure you are about this house being the one, with every fiber of your being and deep in your gut as you fall more madly in love with it every passing second and can’t fathom how you will survive if your offer isn’t picked, that once someone says yes to that offer, you will still freak out and doubt what you are doing. That even if you believe in the home with your whole heart, the concept of sinking all your savings into one basket is still unsettling.
So just recognize that a freak out is ok. And then do your best to believe everyone when they say real estate is a wise investment.
Oh, and there are 2 other very important things I learned in the last few days I wanted to share with the Grown-Up Party community that were crucial factors in making this dream a reality for us:
1. HAVE A TEAM OF PROFESSIONALS ON YOUR SIDE. Our real estate agents (the truly incredible brother duo of Doron and Gabe Bandel) and mortgage broker (Shaun Zipurksy) literally moved mountains to make this happen for us. Doron presented our offer to the seller in person convincing them to choose us, and Shaun somehow convinced the bank to give us the loan. Those are not easy feats, and we really felt like they were our knights in shining armor fighting the battles for us so we could win the war.
2. HAVE LIQUID ASSETS. To make our offer look more enticing, we prepared a cheque for 5% down to hand in with our offer. Finding a big chunk of money that was not tied in up in RRSPs or TFSAs was not easy. Make sure all your money isn’t tied up in investments if you are really ready to buy a gem (that will most likely have many offers) so you can access a portion of your savings immediately if need be.
These past few days have been a wild, tumultuous ride, but now that the freak out has mostly passed, we can’t wait to turn this house into a home. And stay tuned for many future blog posts on home renovations!
(Which speaking of home renovations, you may have noticed that Grown-Up Party’s home has had a major overhaul! I’ll be writing more about the blog’s redesign soon, I just had to share the home ownership news first as I feared I would explode from excitement.)