Quote:
Originally Posted by Gh0st
Best of luck Gerbs. Have enjoyed your posts and transparency around your RE purchase.
Not sure what your monthly burn rate is but having a secondary income (preferably from your partner) and dropping car payments may provide you more peace of mind if holding RE is important to you. However, relationships are difficult, and having nice toys can also be very important for the mind and soul.
I have had to make compromises. I know, not ideal but I'm making these decisions for my family. Got rid of my bikes and cars and consolidated. It's not all that bad though as I expect in 2 years when we've built up our nest egg again I'll pick up an older 911 and call it a day. Currently driving a 12 year old car in return for a detached house. As others have mentioned, moving to AB you can have all the above! I have deep roots here so it is hard to pick up and go but I have definitely contemplated it - Calgary/Edmonton to be specific.
Either way keep us posted. It's an interesting time in the market rn and I hope you get top dollar! Cheers.
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Thanks, I appreciate it! After listing, I realized I really appreciate my current home compared to everything else that's out there. Current place has everything I want for my lifestyle at the moment.
A partner moved in with me recently to help out on costs slightly, since her condo was empty most of the time anyways if she's over. She's helping with 40% of housing costs and groceries (As she should). But at 26 years old it's probably not smart to be comfortable relying on a partner for secondary income.
Here's my current run-rate, I've been keeping track of all this for close to 8 to years now. I think it's hard to make personal finance conscious choices when you're also into cars, travelling and experiences.
Housing
Mortgage -1,680.00
Strata -434.25
Insurance -55.59
Property Tax -100.00
Utilities -55.00
Internet -50.40
Total: $2,375
Living
Phone -36.19
Groceries & household -500.00
Gym -38.00
Haircut -36.00
Eating Out -220.00
Entertainment / Bdays -200.00
Clothes / Misc -125.00
Total: $1,150
Auto
Car -630.00 (VeloN, needed a winter toy to stay sane)
Insurance -216.67
Gas (12,000KM) -216.67 (WFH, so this is all leisure use)
Oil Change -16.67
Maintenance -41.26
Total: $1,120
Close to $4,645/month or $55,740 after-tax a year.