Guess what?! We bought a house!
It has been a crazy couple of months as we went from deciding to save for a car, and then deciding to look at cheap homes, to then buying a triplex where we will be landlords! We are very excited to share this news with you as we were waiting for our closing date which was July 31st.
Back in January Evan and I were both grateful to be working full time (well for me full time hours), and we decided that we should save money for a car. We kept putting money aside for this and looked at a bunch of cars in our price range and weren't too excited about spending our money. At the beginning of June we impulsively looked at a house in the Old East Village because the owners were connected to our friends. After looking at the home and crunching some numbers we realized we were in a position to actually consider buying a house. We met with a real estate agent (highly recommend Tony Scarpelli) a mortgage broker (very highly recommend Jeff Teed) and we got started on the process. We looked at about 8 houses and then decided that we definitely wanted an income property. We found our house at the end of June and put in an offer right away.
The house is a triplex, and there is a unit on the upper level, the main level and a bachelor apartment at the back. The house is more than 100 years old and has been updated although it could use some love in the next few years. We will be occupying the upper unit which has three small bedrooms. Our moving date will be the end of September because we have to give the current tenants enough time to move out. The house is in London, and is close to Wortley Village and the Fork of the Thames.
THANKYOU to those who were involved with this decision for all of your advice and support. We are very excited and also a little nervous about not only being homeowners but landlords as well! We will have you over once we are all moved in!