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Bought my first home tonight

Discussion in 'Canada' started by tbakowsky, Jun 27, 2005.

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  1. tbakowsky

    tbakowsky F1 World Champ
    Consultant Professional Ferrari Technician

    Sep 18, 2002
    19,948
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    #1 tbakowsky, Jun 27, 2005
    Well..I just did the scariest thing in the world..I bought a home,(well a freehold townhome). Not really anything to blow you out of the water..but its perfect for me an my girl. The house is 11 years old and backs on the green space. Party finished basement, fresh carpeting through out, and all appliances are included. Lots of nice tress in the back yard, and nicely landscaped.

    I'm in a bit of shock right now, but I have been looking for over a year. I really like the layout of the house and I think for what I paid, I got a heck of a deal. Buying in this market was one of the toughest experiances I have ever had. You just don't know what to do. I was palnning to wait out the boom..but there is no end in sight as far as I can see. My closing date is August 19th..so it comes up might fast.

    Its just incrediable. This is one of the best days of my life but one of the scariest. No more rent!! I'm now in the realestate market!! Crazy..its just amazing how fast you can grow up in a matter of hours!! I don't think I'll be sleeping tonight..
     
  2. LetsJet

    LetsJet F1 Veteran
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    May 24, 2004
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    #2 LetsJet, Jun 27, 2005
    Well, I'll be the first to congratulate you.
     
  3. Sheldon

    Sheldon Formula 3

    Apr 18, 2005
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    Sheldon
    #3 Sheldon, Jun 27, 2005
    Awesome. Big day!
     
  4. Carrera_gtcrazy

    Carrera_gtcrazy F1 Veteran

    Oct 24, 2004
    5,389
    Munich, Germany
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    Stephan Bauer
    #4 Carrera_gtcrazy, Jun 27, 2005
    Congradulations!!!! It sucks renting a house, we do it aswell! Glad you bought a house! :)
     
  5. Titanboy_24

    Titanboy_24 Formula 3

    Dec 28, 2003
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    Lucas Scarfone
    #5 Titanboy_24, Jun 27, 2005
    congrats Tom! Are you still in the Oakville area? I can see why you sold the F-car now, gotta have priorities.
     
  6. tjacoby

    tjacoby F1 Rookie

    Nov 1, 2003
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    #6 tjacoby, Jun 28, 2005
    a 308 for your own place, great call. PM pic's when you have a sec and your hands aren't shaking! hmm, took about six months for me on our first place. I was just debating this with my brother a few days ago - there's never a perfect time to buy, roll the dice and see what happens. sounds like you got a great place.
     
  7. jamie140

    jamie140 F1 Rookie
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    Oct 17, 2004
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    #7 jamie140, Jun 28, 2005
    Tom, the Western edge of the GTA is on steroids and will continue to grow for the next decade. I can't imagine prices going down. Congratulations on your purchase!
     
  8. 4RE Bob

    4RE Bob Formula Junior

    Feb 7, 2004
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    #8 4RE Bob, Jun 28, 2005
    Congradulations! (Plus the parts are cheaper)
     
  9. gerritv

    gerritv Formula 3

    Jun 18, 2001
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    #9 gerritv, Jun 28, 2005
    Hi Tom
    Congrats. Think of all the wall space to hang Ferrari prints :)

    There are some major milestones in life, buying your first house is one of them. It is part of the "it's not what you make, it's about what you keep" philosophy.

    Gerrit
     
  10. T.O. Dino

    T.O. Dino Formula Junior

    Oct 30, 2004
    350
    Toronto Canada
    #10 T.O. Dino, Jun 28, 2005
    Congrats, Welcome to the world of debt. You think renting was expensive, HA.
     
  11. MS250

    MS250 Two Time F1 World Champ
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    #11 MS250, Jun 28, 2005
    Great news Tom !! All the best in your new pad !!
     
  12. goldyF355

    goldyF355 Formula 3

    May 30, 2004
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    #12 goldyF355, Jun 28, 2005
    Good job, and don't sweat not waiting out the market, Ive seen alot of "smart" guys get screwed that way. Besides, at these interest rates....I'd be more worried about missing the boat on those then anything else.

    And just think....you can use this asset 12 months out of the year. :)
     
  13. cmb

    cmb Karting

    Mar 19, 2004
    52
    Toronto
    #13 cmb, Jun 28, 2005
    congrats!
     
  14. Nuvolari

    Nuvolari F1 Veteran
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    #14 Nuvolari, Jun 28, 2005
    Good job Tom. Make sure to keep a space in the garage for your next F-Car.
     
  15. Dino Martini

    Dino Martini F1 Rookie

    Dec 21, 2004
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    #15 Dino Martini, Jun 28, 2005
    nice!, congrats
     
  16. tbakowsky

    tbakowsky F1 World Champ
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    #16 tbakowsky, Jun 28, 2005
    My thanks to everyone!!

    My stomach is still in knots but I can feel it subsiding..a little. I had a really hard time falling asleep last night..but finaily nature took over and did her job.

    All the positive comments have really helped. Thanks again!
     
  17. ClassicFerrari

    ClassicFerrari F1 World Champ
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    #17 ClassicFerrari, Jun 28, 2005
    Tom you did the right thing buddy. Real estate is an awesome investment! Enjoy in good health.

    Vasco
     
  18. AzN-TriNi

    AzN-TriNi Formula Junior

    Oct 24, 2004
    373
    #18 AzN-TriNi, Jun 28, 2005
    hey, congrats on the new house!
     
  19. MuJo

    MuJo Formula Junior

    Jan 5, 2004
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    Toronto, ON
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    Joel R.
    #19 MuJo, Jun 28, 2005
    All the best to you and your girl Tom. When the dust settles and you get more Countach's in the shop, I'll come by for a peek. :D
     
  20. wax

    wax Five Time F1 World Champ
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    #20 wax, Jun 28, 2005
    When that day comes, just don't forget to carry her over the threshold.

    A high threshold for pain helps. DON'T tell her that!
     
  21. tbakowsky

    tbakowsky F1 World Champ
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    #21 tbakowsky, Jun 28, 2005
    You don't need to wait for the Countach..I have another one at the shop right now!! You may know the car. Its the famous Bun King CT..
     
  22. tbakowsky

    tbakowsky F1 World Champ
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    #22 tbakowsky, Jun 28, 2005

    Thanks Wax!
     
  23. tjacoby

    tjacoby F1 Rookie

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    #23 tjacoby, Jun 29, 2005
    it took 12 months before I didn't dread the mortgage payment, but after 18 it starts getting easier. Well done! I'm guessing 348 maintenance goes up now there's a mortgage?
     
  24. audionut

    audionut Formula Junior

    Apr 25, 2003
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    Adrian Low
    #24 audionut, Jun 29, 2005
    Congrats Tom! Good for you. Like the man said " if you think renting was expensive..." lol. Just kidding man. Best wishes, and when's the move in party???
     
  25. Ferrariguy2

    Ferrariguy2 F1 Rookie

    Apr 5, 2004
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    #25 Ferrariguy2, Jun 29, 2005
    Congrats dude! You've made a very wise investment. All the best.
     
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