Wednesday, July 25, 2007

We Bought at the Right Time!!!!

We bought our house in February of 2006. It was the most expensive house we had bought (which isn't saying much, but more on that in a minute). We knew the bank had done a home assessment, but they never told us what the house was worth. We thought the house was maybe worth a little bit more than we paid, hopefully not less, but we had no idea whatsoever.
We are currently in the process of trying to get a home equity line of credit, which requires, you guessed it, a home assessment. Well, THIS time, the company we are working with on getting said line of credit showed us the results. We are very, very, very, very happy....our house is worth about 186% of what we paid for it. That's right.... it's worth 86% MORE than we paid for it! Needless to say, we were shocked and ecstatic. But of course, for those of you thinking we are stinkin' rich or something, let's put things into perspective...
Our first ever house we bought was 3 bedrooms, 1 bath, double lot, small town. Very cheap. Sickeningly cheap to all you poor people who live in, say, Calgary or Edmonton, or the states or something.
Our second house cost approximately 4 TIMES as much, but still not remotely close to what you pay in the places I mentioned above...again, a 3 bedroom, 1 bath, but single lot, not so good part of town.
THIS house cost us nearly FIVE times as much as the second (or over 17 times as much as the first house....what a staggering statistic)....for a 4 bedroom, 2 bath, 1 lot in a good area of town.
Here is the staggering figure to make all you big city, non-Saskatchewan people jealous....if I add up what we paid for all three houses into one sum, I have bought 3 houses for an altogether grand total of $146,500. Not each, not averaged out (that average would beeeee....about $48,333 each) Those of you math whizzes out there can play with this one for awhile. I am giggling with glee and very happy that we live in our wonderful province....with the way our income has been, we never would have even been the owners of ONE house by now in a place like Calgary!
Heh heh heh

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