Quick move?

[ironphoenix]

Tomorrow, soul_diaspora are going to look very seriously at a townhouse in Kanata, and we might even sign. It's about a mile and a half from where I work.

It's a bit... scary? exhilarating? Both?

Advice welcome!

Comments

[ragnhildr.livejournal.com]

Buying or renting? Scary/exhilarating sounds like buying. If that is the case, I was very pleased with both the lawyer and the inspector I found when I bought my house, and can offer recommendations. I was also quite pleased with my real estate agent, but you sound like you're probably past that phase.

I learned that despite how it feels, your head won't actually explode! ;-)

[con-girl.livejournal.com]

She used my lawyer. I wished I had her inspector when I bought.

[ironphoenix.livejournal.com]

Buying, yes. I'd especially like to get the home inspector's contact info!

Yeah, the head-explodey feeling is there, although talking to people about it and hearing from folks like you that it's manageable is helping!

[metawidget]

If you want options, we were happy with ours, who works on both sides of the river: http://www.dagenaisinspections.com/

He walked us through everything, was quite down-to-earth, and gave us a big binder of pertinent information and notes when he was done. He gave us a bit of a heads-up on a few non-urgent things and the peace of mind was worth it.

[ironphoenix.livejournal.com]

Any chance I can get that home inspector's contact info? E-mail to mike dot myusername at gmail please!

[metawidget]

Get a house inspector to take a look (you can make your offer conditional on an inspection); it costs $200-300, but it's worth it to get an idea of what you'll need to do to take care of the place in the years to come.

Walk around the neighbourhood while you're out there and try and pick up the vibe. Look inside the shops.

Also, variable-rate mortgages are your friend.

[ironphoenix.livejournal.com]

*nods* Thanks!

You favor var-rate mortgages, so you don't think the prime rate will go up fast either, eh?

[metawidget]

250-300 basis points is a huge gap unlikely to close soon, and you're only committing to the variable rate for five years, usually. Even if the variable rate surpasses today's fixed rate in 2-3 years, you will have saved great gobs of cash in the meantime.

[ziggy-b.livejournal.com]

You can also switch from variable to fixed if rates start to look worrisome, but you can't go the other way. I can understand choosing the fixed rate if finances are tight and a person wants peace of mind by avoiding the risk, but if it's a matter of logic and numbers then go with variable. I went with fixed the first time (because of peace of mind) and variable the second, and I have no regrets for either choice but from now on I'll always choose variable. You'll always get speculative warnings of changes in fixed rates and can change over to fixed within minutes so there really isn't much risk.

[writer-gal-007.livejournal.com]

No advice, sorry.

Okay, stupid 20-year-old advice, move if you're unhappy or have a good reason to move. Otherwise, if you're content, don't do it just for the sake of change, that's a pain in the ass and stupid, just move your furniture around a bit. :P Also, only move to a place you can actually see yourself living in. (Reasonably good advice: Think about what living in Kanata may do to your social life, to your commuting time, etc. MV was unhappy living in Orleans because he felt it was very isolating, being away from his friends and the constant action of downtown. Something to consider!)

Maybe this was good for a laugh (ah the naivete and simplicity of youth?). ;) Sorry I'm not actual help. :P

[ironphoenix.livejournal.com]

Most of what you've said makes sense, and is the stuff we've been thinking about.

Big reasons for the move are that this building is starting to pall (getting noisy, less well-run), and equity (rent money vanishes, mortgage money becomes lasting value). The particular location is good in that my commute becomes a longish walk or a short bike ride, which frees up the car for soul_diaspora. Our lifestyle is a mix of social and not-so-social, and I think that this will work out okay for it.

[bastetschylde.livejournal.com]

Most of Kanata is damn near impossible to get anywhere by bus -- it'll be hard for friends to get to you unless they get rides.

[kali-kali.livejournal.com]

Oh no, not another one! Soon most of the people I know will be living in Kanata. And just a few years ago, most people I knew were trying their hardest to get *out* of Kanata...

Now, since you work in Kanata, it makes more sense for you, since you'd be closer to work, but I have no idea why so many people I know have moved there, and then proceed to complain about their commute downtown. I'm allergic to commuting - if I have to travel more than half an hour, or switch buses, it's not worth it.

Anyways. If you like it, go for it. If it makes you happy, that is the main thing.

[ironphoenix.livejournal.com]

A car makes a huge difference. Also, when buying a house, what you pay for what you get is very different in or out of downtown. The same house would cost half again as much 10-15 km further East.

[frenchzie.livejournal.com]

What...? In Kanata, the very Far West...?!!

No, more seriously, one of my criteria is the location: I have to be walking distance from downtown. You're currently on the Transitway; if you have one car, make sure that the other one doesn't feel trapped (how's the transit outside peak hours?)... And it may be less attractive for some gamers that are using transit... ;)

For the balance: mortgage pre-approval (metawidget says: "variable-rate mortgages are your friend", but check BMO's "petit taux", which was listed at 3.59% but ended up to bu 3.45% for 5 years in my case...), licensed house inspector (check the background and complaints with the provincial professional association) and comparison with what's on the market should be the key elements...

You know how to reach me should you want to discuss more of it... ;)

Good luck! :)

[ironphoenix.livejournal.com]

Thanks!

Location/transit: see my more recent post!

I have a decent offer (better than 3%) from my bank... I'll still shop around, though, and if others offer better, I'll try using that for leverage.

House inspector: I'm trying to get ragnhildr's, since he(?) comes well-recommended. The builder seems perfectly fine with this, and will arrange walk-throughs of the place at several useful times during construction.

[ancalagon-tb.livejournal.com]

definitely an independent house inspector - not sure how you find a good one, but it's really worth it, so I hear.

Kanata... not so fond of that location. Try to be sure you are close to the transitway. But that's really a decision you have to take. Walking around the neighbourhood to get a feel of the place is not a bad idea either.

Finally, be aware that this may not be a good investment - look at it as a dwelling first. The market in Canada will crash if interest rates go up quickly.

[ironphoenix.livejournal.com]

Thanks!

I think the BoC will be hesitant to jack rates up too fast, because of the currency effect against the weak USD. They will probably climb, but not quickly. Also, I expect more expensive houses to be more vulnerable to an interest rate hike. As long as the place holds its value, I think we're likely to come out ahead.

[bastetschylde.livejournal.com]

I don't think it's just the "townhouse in KANATA" (place I avoid like the plague and if I had to live there I'd be more agoraphobic than I am now!) part that's making me want to run... but this is the first time you are considering looking at a home and you are seriously looking at it tomorrow?

I'd pace it out, check other places, try what other people who have experience have to say (i.e., home inspectors, check out the area, consider how it's going to affect your social life, etc.).

Fools rush in, :P.

(But looking at places is awesome... the moving experience is crap!)

[metawidget]

This: look at at least half a dozen places that fit your criteria if you can! You don't need to pull in the house inspector until you're at the offer phase, but a bit of informal (but in-person) data gathering is good :)

[soul-diaspora.livejournal.com]

This is not actually as sudden as it appears. We've been researching and discussing the move for months--it's just not something we blogged about until now.

[ilanikhan.livejournal.com]

Knowing somewhat about the situation, I know that this isn't the first thing that you've looked at, that the location meets many of your criteria and that you probably don't need an inspector.

Instead, I think you should talk to button_girl, since she has experience with buying a not yet built house.

[ziggy-b.livejournal.com]

*Always* get a house inspector. New-builds, cookie-cutter townhouses (the next door neighbour had his checked recently so why should I bother?), recently renovated... it doesn't matter the excuse - get an inspector! Mine was a woman who had been in the business for a long time so while I don't remember her name you should be able to find her easily from someone who knows inspectors (I'd heard of her and as soon as I said 'female inspector' to my real-estate agent she said "Oh, definitely, she's great"). I liked her because she was thorough and logical - if something didn't look right she'd find the source of the problem rather than only commenting on the result. Make the inspection conditional on the purchase.

I didn't think that I had much advice but now that I'm reading others' comments:
If it's a condo then be careful about the fees and the rules and board of governors. I looked at some places where the fees were $600+ (usually large older buildings) with ridiculous rules. I chose my place because they were reasonable and slightly conservative (for example I can put hardwood everywhere but my neighbour upstairs has to have carpet right above me) and the fees were quite low while still being healthy (if they're too low then they have a special assessment every time something needs fixing).

Definitely variable rate. I initially went with a fixed rate as money was tight, and PC (through Superstore) has the best fixed rates that I found anywhere including mortgage brokers, other banks, ING, etc. I took their rate and brought it to my bank, and my bank gave me their lowest rate possible in order to try to be competitive and I went with them. Variable rates were pretty consistent, at least in comparison to the fixed.

Try to be within reasonable walking distance of shops, and if possible transit as well. I have always lived within 10 minutes of a grocery store or similar shop, and I greatly disliked it when I stayed with friends who were further away. Winters are cold, and 10 minutes each direction is a good limit for me.

I bought my place irrelevant of the short- and long-term market. It has increased in price which is nice, but I wouldn't have cared either way. Don't buy it as an investment but more as a 'it's better than paying rent' option.

[ironphoenix.livejournal.com]

Thanks!

*nods* Inspection is a normal part of the game, it seems; they were unfazed by the question, certainly.

It's freehold; the only "condo-ish" stuff is for the private road, etc.

I'm with you on the variable rate, and I expect to do something similar to your negotiation strategy.

Groceries will generally involve the car, I think!

Yes, "it's better than paying rent" is a significant motivator.

[jagash.livejournal.com]

Ok, I will try to offer some relatively balanced advice on this front. I spent 18 years in Kanata so I have dealt with some of the realities of that area.

1) It will be a challenge to live with a single car unless you are _certain_ that you will be able to walk to the office nearly every day. The walls will close in _very_ fast unless you have a car, since the bus service is relatively terrible and there is little within walking distance.

2) Some of the sections of Kanata have aluminum wiring, fyi, so check for that.

3) Note that you will have a challenge hosting boardgaming off the Transistway in Kanata North. I assume you have thought of this already, but it could come up.

4) The park and ride can make the multimodal transportation (bus to the park and ride then get picked up) far more feasible.

5) My personal opinion is to lock it in and lock it in hard. I suspect that the USD will inflate to reduce debt which will _sink_ all of our industries unless we match them. That will inherently raise interest rates, not that they can get any lower at this point. Its a steal at this point, even locked in for 5 years.

6) The neighbourhood should be very crime-free, with the exception of petty theft of vandalism. Major plus here.

7) Far fewer options for eating out, compared to your current neck of the woods.

8) University attendance might be a bit more of a challenge, though the bus will offer plenty of reading time.

9) Living near were you work certainly would be beneficial.

10) This might have some relatively severe consequences on both your Akido attendance and your attendance at your specific church. There are at least 2 RC churches that I know of in Kanata, but I donèt know if you would be interested or willing to switch.

Hope this helps you out to some extent. My personal preference is to stick within the greenbelt, but I also work in Hull so I am in a different place in my life.

[ironphoenix.livejournal.com]

Thanks!

Walking/biking generally won't be a problem, and there is a single-bus solution between home and work if necessary.

Aluminum wiring would generally be in older sections, I would expect.

Multimode and rides will be helpful in getting gamers!

I disagree that the dropping USD will push our interest rates up quickly... there are also ways to switch from var to fixed in mid-stream if necessary.

Eating out is something we should probably do less anyway! When we do, I suspect it will be less "offhand", and more geared to The Good Stuff.

If university is a factor, we'll work out transportation... there is express service.

Aikido will be the big tricky thing, transportation-wise, because it will involve scheduling handoff of the car.

[cristofcanada.livejournal.com]

Being able to walk to work is great and all, but Kanata is hell to travel about without a car. Yes, you have a car, but there are two of you, so when you want to go to different places, one of you is inevitably screwed. I'd go so far as to say that moving to Kanata means looking at buying a second car too. Being trapped in Kanata is not pleasant, as I recall (though I'll admit I never had access to a car whilst I was there). Even on the transitway in Kanata you're forty minutes away from Ottawa for all intents and purposes. :(

I'm guessing that price is low enough, and being able to walk to work is a big draw. Just remember it gets pretty damn cold here, too. =p

[ironphoenix.livejournal.com]

Thanks!

It gets "cold" here if you're from Toronto; if you're from Jonquière, it gets "cool". It's typically about 6 deg. "cooler" there.

I don't think we will need a second car, given our lifestyle, the work access, and transit access, unless I get a job somewhere well away from here.