First Time Home Buyer

It’s been so long since I owned my own home that I now qualify for the First Time Home Buyer Program here in Canada. I’m a full-time student working part-time for a church, so this information isn’t of any real use to me. Not yet.

I’ve owned as opposed to rent for the majority of my adult life. I was married when we bought our first home, for $96,000, in 1998. You probably couldn’t buy that house for less than $225,000 now! After the divorce, I wound up cohabitating with a boyfriend and selling my house. I used the proceeds to buy into his house. When that didn’t work out, and once he had his credit score fixed, he paid me out from that house and I used those proceeds to buy my very own little bungalow which I nicknamed the Hobbit House. I loved living in that house.

Another failed relationship later and I bought a 2600 sq ft, four bedroom home near the kids’ high school. I rented out the bungalow. This new home had two decks and each deck had a lilac tree growing beside it.

I sold my sweet bungalow to pay off all my debts once the kids had both moved out.

I sold the larger home to put money down on a condo with yet another boyfriend. When that ended, he wasn’t able to free up money to give me back my down payment and couldn’t qualify for the mortgage on his own. So I started renting, for the first time since I was 26. I moved to a co-op, which was a drastic change from the exclusive condo lifestyle. I spent a year in the co-op, and then three years in a lovely one bedroom apartment with a splendid view.

Now for two years I’m living in my friends’ house while they’re out of the country. This keeps the rent very low and allows me to go to school, while keeping their house safe and well-tended. I am so glad to be back in a house. I am also glad to have had a break from taking care of a house, but it’s good to be back. When these two years are over, I’ll want to buy a house again. With the home buyer plan, I can use RRSP for my down payment without tax consequence, and save on some transfer tax. I’m gonna need an income though! So all that said, I better get doing my school work so I qualify for a mortgage when I graduate.

This post brought to you by second term looming procrastination.

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