Sunday, February 1, 2009

Stepping into unfamiliar territory

We have had our condo listed for sale for 4 months now and we are in need of a move soon. We are looking at renting our condo now and then moving to a place that has 3 bedroom (or more), 2 toilets (son's request), good sized living space and a basement to rent out (hubby's request). We are also in need of a garage and would definitely like some outdoor space (younger son's request). I have searched and saw that for what we want it would be available in the range of $300K or more in our city. We can definitely afford that as we pay mortgage plus condo fees plus storage and all that in one property and payment would be great.

Our passions and interests are in need of a place where we can do them. I love to garden and with hubby's handy work that involves painting and fixing stuff, as well as his interest in motorbikes and wanting to fix up the one he has, we are limited in what we can do in this condo. Definitely we were made for having a garage =D. We are at a place where we want to be doing the things that interests us and the season to be doing them is fast approaching. Spring is upon us in just over a month and as the freshness fills the air, we will want to be doing what inspires and enriches us even more. Our minds our set and there is no going back and with that comes a level of impatience and frustration as well.

I had booked for us to go and see a property yesterday. It was not exactly what we were looking for, but could work with some creative thinking and the right person to rent. However that property got an offer after I booked to see it and the offer is pending. With not having all our "ducks in a row", we are not able to make a move in that situation and did not go to see it. SO we went to see another home that was "similar" in the area and it was NOT going to work for us. After viewing that property, our realtor had one for us to see that he has listed on the market. It was a nice place and my hubby really liked it. We met back at our place to run through the scenarios that would help us to not only have our place as a revenue property, but would allows to purchase a new home for us as well.

All this financial and business information is not my area of study (I took art and science), so there is a lot of information to put together in a way of thinking I'm notfamiliar with. Also, as the information comes to make more sense to me, I desire to know more so that I am able to make all this work to our benefit. So what to do when you have questions in stuff you don't know fully about? Approach the experts. And not just one. Go tot many sources so you can get a fuller picture and tap into the info that everyone has figured out. Not every mortgage broker goes about doing mortgages the same way. Similar, not every doctor practices the same approach to medicine, but their focus is still on the health of the human body. I will go to the experts that are in business, that own revenue properties, that deal with mortgages and how to get money to do what they want in business ventures and get the info. Time to become a student in a new class, and I plan on getting a passing grade =D.

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