I have learned a lot about upkeep, purchasing and the real estate process and wanted to share it with you. So from the start I looked at over 20 homes before I found the one I wanted. I ended u0 choosing one that was brand new in stonebridge, Saskatoon. I liked the idea that I was the only one to live in it. It was actually about the same costs as a townhouse anyway so I went for it. It was 430,000 but I negotiated it down to 415,000 with the inclusion of them building a detached two car garage and walkways. We would design the yard ourselves. I purchased on October 31st in 2013. That would be the day my whole life changed because I was officially a home owner. It came with a lot of envy from friends and close relatives though. But the perks Of security where worth it for the four years I stayed there. It cost me $1500 a month for the mortgage and $300 for utilities. The Taxes increased as I lived there and when I sold it in 2016 to my grandparents I was paying $250 a month for property taxes. Then I also had to pay home insurance it was 110 a month. But there where a lot of extra costs associated like curtains for all the windows that costed me $250. My grandparents did help with the landscaping of the yard as a gift which estimated $10,000 and I did really appreciate it because it was a creative undertaking. Another cost I did not expect was the cost of installing the appliances. Which was $250 and they came late when we ordered them. The appliances came with a 10,000 cheque from Montana’s homes from purchasing from them. This house stayed on the market for six months and they wanted a quick sale. I put down 20 percent of the house value. Which was $80,000 and then mortgaged the rest of the home. Being a landlord and finding good tenants was another hassle I never expected would be so challenging. There was a lot of bounced cheque’s, people walking out on their lease because they found cheaper rent and the disrespectful attitude from older tenants because they envied my achievement and it made them feel inadequate. They would also try to go behind my back and get cheaper rent by convincing my grandma to talk me into it but my way or nothing was my attitude. I was nice at first but if they disrespected me I would not renew my lease and had to kick someone out after 6 months three times due to the fact they lost their job and would have parties without asking permission and expected me to stay in my room when I’m the landlord. I would say that owning your own home is rewarding as much as it is challenging. I had a cost of $4000 for everything before entertainment or anything extra that had to be paid. I also made the mistake of trusting people before they would screw me over. Tenants would sign a year lease and would call me names and then would expect me to give then there damage deposit back when they wanted to leave after six months after job loss. I gave it back twice and it shorted me for my mortgage payments. But I just did overtime at work to make up for it. I am happy for the experience but I would never be a landlord of a home I lived in because it complicates your own personal life.
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