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My Future Home

Yesterday, as part of my birthday festivities, we went to scope out a new community in the city that we are thinking of moving to.  We’ve spent quite a bit of time thinking about what it would mean to move into a community like this, and we’ve also thought of the reality that I will (most likely) be staying in this city for my residency.  While that is still all up in the air, an amazing opportunity to live in an area close to the university, close to the main hospital, close to schools and parks for the kids, and in a new home that meets all of our specifications has come up.  It is a potential HUGE change, in many ways.  First, it means that I’d be staying here for residency (we were leaning towards that anyway).  Second, it would mean a bigger mortgage payment.  Third, it would mean making a huge commitment to this city that neither of us liked in the first place and that, when we moved here 7 years ago, we swore we would get out of ASAP.  Well, we’re still here.

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While it’s not really “officially” part of my birthday celebration, we decided that we are going to go ahead and move to this new community.  Nothing will really be final until after March 5, when I will know for sure where I will be doing my residency, but we have decided to put down a deposit on this piece of land.  Yesterday we went out to take a close look at it now that the roads are open up there and I finally got to celebrate the fact that we will (hopefully) be living here in about a years time.  Notice me jumping exuberantly for joy!

The desposit we are putting on this lot is completely refundable until the day they start building the house.  Building should start in the fall, probably in October.  At that time, we would have to put a 5% down payment on the value of the house (that we get to design) and it would be ready for us to move into sometime next summer.  We know that based on what we can sell our current house for, we shouldn’t have any difficulty getting approved for the mortgage we would require for this new house.  If, for some reason, we change our mind or I go to a different city for residency, the builder will give us all our money back provided he can sell the house for the same asking price.  Considering that we are not looking for anything ridiculous or extravagant in a house, we are pretty confident that he will have no problems doing that.  This amazing lot is almost double the size of our current lot, it faces a future playground, and it backs onto a berm that will be landscaped with a walking path.  The only minor drawback is that there is a road on the other side of the berm.  Regardless, we are super pumped about all the amenities, schools, paths, playgrounds, etc. that we will be near by moving into this neighbourhood!

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This is a shot from the back side of the lot, while standing on the berm.  The Fire hydrant is the fat left hand side of our plot, and we will have the small utility box on our plot as well.  While you can’t really see the right hand border of our plot, the whole lot is just over 16m wide (about 53 feet).  That big rock off in the distance… that marks where the playground will be.

Despite my exuberance over this new, huge decision that we’ve made, I can’t really tell anyone about it.  We have decided that we are keeping this move a secret to everyone we know, mostly because it’s still not 100% certain.  It also means that we would have to admit to my mom that we are not moving back “home” despite how hard she has been praying for that to happen.  The biggest reason, however, that we don’t want to tell anyone is that we don’t want our excitement to be overshadowed by everyone else’s judgement.  Since we are both “technically” students, we are always being criticized for how we spend our money and how we live our lives.  I guess you could say that we live a little beyond our means, but that’s because we have very little means that are not in the form of student loans.  We are in a unique position in that we hold a large amount of equity in our current home, and we have been approved for a mortgage based on that (and the fact that I am a medical student… banks like that).  When it comes time to apply for a mortgage on this house, I will have a residency contract and my husband will most likely have a contract in place too.  Things are changing fast for us now, and that is our business.  No one else will be happy for us, so we can celebrate privately!

 

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