So I bought a house… Now what?

April 14, 2016

As I mentioned here, here and here (I’m so exciting lately) I bought a house at the end of 2015. December 21st… 4 days before Christmas, I forked over a hefty down payment for a house I probably couldn’t afford. But I was determined (and naïve) and I made it happen! Go Emily!

Fast-forward almost 5 months. I’m currently half living in the house, half living in my parent’s basement where the food and electricity are free. (As A has pointed out, we are living in a freezer because SURPRISE SURPRISE – Electric heat is expensive and I was hit with a $850 bill for the months of January and February) Second surprise – I was NOT prepared to cover this cost and my bank account dropped significantly. What is a savings account? I wouldn’t know because I’ve had to basically empty mine to cover the extra costs that come with owning a house that you refuse to acknowledge when you JUST WANT YOUR OWN SPACE.

All of my plans for fun home DIY projects have been put on hold. Travelling has been put on hold – hell eating has basically been put on hold because OWNING A HOUSE IS STUPID EXPENSIVE. Yes our house is zoned R2 which means we can turn our basement into a rental unit which will basically cover the cost of our mortgage (yay) but do you have any idea how much it costs to renovate a house? I didn’t. I’m still not totally sure I understand what things cost. But one day… one day we will have a tenant and our mortgage will be paid and we will live for free. Or not. BECAUSE THERE IS STILL PROPERTY TAX, ELECTRICITY, HOME INSURANCE, INTERNET, CELL PHONE BILLS…. Not to mention the credit card debt I have to try to pay off each month.

Every time I get a bill I spend like 4 hours searching the Internet for a second job, ways to make money, looking through my closets for things to sell. Will anyone buy my eggs? If I sell my bed I can probably pay my next mortgage payment but then where do we sleep? I guess the couch is comfortable enough but will I have to sell that next? I opened a bill last night, my property taxes, and had another mini (okay full blown) panic attack. HOW CAN I AFFORD TO PAY PROPERTY TAXES AND FINISH RENOVATING MY HOUSE? Oh yeah… I can’t. Last weekend we went out for dinner and I spent $40. FORTY DOLLARS. A few months ago that was nothing. Now, that’s $40 I could have put towards my bills. Or spent on groceries that would have got me more than one meal. Life lessons.

Okay so I’m not poor. But right now, I’m definitely pinching pennies – which is funny because Canada no longer accepts pennies – and I’m trying to budget better, eat out less, save money when I can and finish renovating our house. We still have a LONG way to go – not a single room is finished… but it’s starting to feel like home and that’s a start. Right?

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