We’ve only been in this house for 3.5 months. When we moved here I figured we’d stay for several years, but that could always be chalked up to the hellish experience of moving with two small children. I say this because for the last little while I haven’t been able to get it out of my head that I really, really want a house of my own and renting one just isn’t going to cut it for me much longer.
I can talk about rent vs. buy, I can crunch the numbers, I can use all sorts of logic to explain why we are okay renting right now…but the bottom line is I want something that is ours. I want our monthly payments to go to something, even if it is mostly interest at first.
But the truth of the matter is that DH and I started our lives together late. And due to a divorce on his part and a long stint at university on my part we basically had nothing when we came together. Given that houses here are about $700k for a “starter home”, even with a respectable savings rate it will take us probably 5 years to save up a respectable downpayment and even then we’d have to take on huge monthly payments for a mortgage, essentially shackling DH to his current job and adding to the pressure should he ever have to leave it. The alternative is to wait for a grandparent to die and leave us some money and the only one who really has anything worthwhile to hand down is my mother, who I’d gladly trade all my inheritance for to have her in my life for another 20 years. But what really gets me about all this is not just how much debt we’d have to take on to get a house here, but what exactly are we getting for all our troubles?
Yep, you faithful readers know where I’m going with this don’t you: I want some land. Now check out the photo on the upper right of my blog: doesn’t that seem more like what you should get if you fork out a million dollars and work your ass off for the rest of your life? If we’re going to save up money and buy something, wouldn’t it be nice to feel like we really got something special? Something wonderful? Something that felt worth it all? Ultimately, a house in the city is just a roof over your head with windows that look right into your neighbour’s living room, and a patch of dirt that you can’t do anything with unless you have ten permits and your neighbour’s permission first. Unless you have about $10 million to spend on housing you’re not going to get much more than that here (albeit a very fancy roof with lots of toys inside). How about a forest, or a lake, or a big field with horses? How about being able to walk through wooded trails without having to drive to them? Now *that* seems like something worth going into huge amounts of debt for!