Just a quick update this morning -
We are now permitted to spend the funds we had been required (by our bank) to allocate to closing costs. While Jordan and I knew that our closing costs would only be beer/pizza/uhaul rental (so max $500) we were required to have 1.5% of the value of the mortgage available for closing costs.
Jordan and I have moved some money into our emergency fund, Christmas fund, and new home furniture fund as well as made a large credit card payment.
yay!
Tracking Bars Updated
Related Posts:
Home Value is Up!I didn't show it in my Networth post yesterday - but Jordan and I have more good news on our overall net worth. Last year we connected with a real estate agent and found that on the market our home was worth $377,000 - … Read More
This ChristmasThis Christmas was hard.
It was the first without my dad. It was also the first without my brother (he's moved to Winnipeg). It was Jordan's first without his mom and his brother (they were on a trip to… Read More
Our Homes Updated ValueI have been waiting to write this post for a long time. This is the post where I get to tell you that our homes value has dramatically increased since we bought it in December, 2011.
Up until this point, I have been us… Read More
Mortgage PaymentsIt's so so sooo tempting to increase our mortgage payments - but with the loan sitting at 3.39% and our Escape at 6.90% - it's hard to justify that over the Escape. But now that we've changed our payment scheduled to ac… Read More
The Big Backyard Project is Done!! Check it out!
The final piece to the project is done!
… Read More
Thanks so much!!
ReplyDeleteClosing costs are normally legal fees, title transfer, agent commission etc - was that not included in your "closing costs" with the builder?
ReplyDeletejoanne
@ Anon - yes, you're right - normally closing costs consist of the things that you mentioned. Jordan and I built new and our builder assumed all of those costs :D That's why our only expense was the truck rental, pizza and beer.
ReplyDeleteHey Jessie -
ReplyDeleteDO you have actual mutiple savings and bank accounts for each of your funds? We are just starting a renovation budget/savings and aren't sure how to go about it. Right now All we have is a joint chequing acct (for mortgage) and we each have individual bank accounts and 1 savings accounts each that we use as our emergency funds accounts. Just wondered what you would recommend.
Thanks!
@ beingirene - we use ING (so just the one bank) and then we have several accounts with them to keep everything seperate
ReplyDelete