Tuesday, June 9, 2009

I bought a condo

The real estate world moves quickly. Earlier today I submitted an offer to buy a condo and expected the sellers to counter. They did not. They accepted the offer and I am now the "almost" new owner of a condo. I still need to remove conditions - inspection, financing, lawyer, etc - but don't expect any surprises.

This is exciting. Only last Friday I was worried about having a house that I couldn't sell and not having any place to live at my destination. This takes a lot of the stress off and allows me to move forward and meet my obligations to my employer.

The new condo is a three story walk-up, row house style. It is on a very nice street and is only a few steps from the canal and about 10 minutes walk to work. The unit itself has lots of small rooms - enough for all my activities. I believe the correct description is pied-a-terre. Small city house.

When I started my house search my expectations were that I could find a lot more house for my money. I was disappointed to see that there were problems with all the properties in my price range. This meant that I had to make a lot of compromises - more than I had originally anticipated.

Luckily, I did not have to compromise on location. This is a highly sought after location so it will be great to live in and will hold resale value. The condo is in good condition so there are very few maintenance issues. It is also somewhat unique, unlike those offered for sale in the many high rises around.

Well, the next step is to meet all the requirements of the purchase agreement and arrange to move all my utilities, etc. Lots of work to do.

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