8/14/2009

Home Ownership - A possibility?

I few months ago I wrote about buying/renovating my Aunts place, this is still something we talk about every day. We spend a lot of time at her place taking care of the yard and doing other miscellanious things that she can no longer do for herself, and we also spend a lot of time at home depot and open houses trying to get ideas about what we would want to do with the place and how much it would cost.

Her place would need a total renovation if not restructure. In the 30 years that she has lived there the ONLY maintance was a new roof a few years ago. She and her recently passed husband also chain smoke(d).

We're thinking of approaching some design students to see if we can get some ideas on what to do with the place. At this point we're not sure the best plan of attack, or if we should just figure it out ourselves (or try to?).

In my head I know that we should not get too excited about it because it could be a long way off, but it may also not be.... let me explain.

She has told us that she want's to have AT LEAST one more Christmas in the house... well, Christmas is 4.5 months away. We don't know really what her plans are (I doubt she knows)... I've read about a lot of different ways you can mortgage a place or buy property off family, but again I don't know how she would want to do all of this.

Part of me hopes that she takes the next 3-5 years before she moves, but the part of me that really really really really wants to own a home and have a back yard.... wants her to decide sooner.

It can be pretty overwhelming even to think about, let alone write about, so I'll stop here. I will show you some pictures though!
















The front of the house is on the left the back of the house and a view of the garden is on the right. There is a garage further to the rigt that you can't see. There is also a large deck that you can just see the corner of on the left hand side of the right picture.

Back of house and garden... there is a garage to the right that you can't see...

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5 comments:

  1. I would wait for the design student (which is a good idea) until she decides. And the longer she takes the more steps you are toward affording everything and still having a life- date night. Be patient, grasshopper

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  2. I got all excited this morning (as I do) and spoke with a couple people of work about it. A. actually brought it up b/c of the current house market where we live.

    I was thinking maybe this weekend we could say something like..

    "I know we laugh a bit about Jordan and I buying your home when you're ready to move, so we thought we would go to the bank just to see what we would be approved for in terms of getting a mortgage...we were thinking we would probably tell the bank we're looking at buying within the next year or two - do you think that's feasible, or will you likely want to stay in Calgary for a few years longer?"

    What do you think of that? it was G's suggestion......

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  3. What a cute little house! It's good to plan for the future. :) And to have a house remain in the family is such a nice idea!

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  4. that looks like a nice house! it's cute and looks like the yard is massive, which gives you options. and although it hasnt had tons of upkeep, you know it hasn't been abused or anything like that :)

    how much are houses going for in your area?

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  5. Our city has huuuge variences depending on if your in the good or bad side (among other variables)... but the average prices for a NEW 2 bedroom, 2 bath bungalo(such that is pictured above)that is new would go for about $450-$550,000... some renovated units go for about the same. My Aunt wants to sell us the above for $200-$300 depending on how everythign shakes down....

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