What I’ve Learned From Owning my first...

Shayla Bobala

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

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