- 2 years ago
- Wedding: August 2016
Hey there! I tried posting this before but it failed miserably some how, hopefully someone will read this and maybe sympathize with me. Hubby and I are what you might call “middle class poor”. We’re uni grads, he’s employed (a very secure job, so no worries there), I’m unfortuantely disabled with fibro (with no help from the gov’t, thank you very much Ontario) I try to make money selling on Etsy but I make very little. We’ve successfully managed a good relationship for ten years, married for two, and had big dreams of being financially stable, but like most graduates are still paying off student debts and struggling to get ahead. I have constant reminders from my parents that they did x, y, and z by the time they were 23 and here I am at 30 renting and wasting away lol.
Hubby was pre-approved for a mortgage at a whopping $250,000 – this isn’t surprising since it’s based on his income alone and thankfully his student debt is through his parents, thus not on paper so it didn’t affect the pre-approval. It’s definitely smaller than it would be if I was working full time and not owing a few thousand dollars. We have managed to save for a down payment of at least 5% (10% on some homes if they’re low enough). Yet even at the 250 mark we’re aiming lower just to ensure we don’t end up house poor and can save for unexpected expenses because that’s what smart people do.
The hard part is finding anything in our price range. We’re looking at small towns outside of our city because things are so much cheaper there, yet the housing market as a whole seems to be weaker in terms of numbers, and in the last five months I’ve seen like maybe seven houses in our range, most of which with damning issues (I’m looking at you black mold and electrical re-wiring!).
So I have to ask, anyone in a similar situation, how long did you wait before you found anything? Did you settle for signifcantly less? We refuse to buy into semi-detached or townhouses as we’ve lived in both and had nothing but awful experiences throughout, so it has to be detached, yet I fear we’ll never find anything decent. I’d love to make an offer some houses becuase some seem genuinely overpriced but they don’t last on the market very long any more. :/