u/Opposite_Budget2459

My Partner and I plan to divide the costs of buying a house fairly even based in our incomes. Both of us want to keep our finances separate for different reasons. I am aware we are to set money aside for upkeep. Im more focused on bills.

1. I will be handling the biweekly mortgage payments

- $1100 approximately

- $200 lump sump

2. She will be handling all other expenses monthly

$45 Life insurance

$400 property tax

$400 car and house insurance

$150 hydro

$50 water

$100 gas

Am I forgetting anything??

Cellphones, internet, gas for car, pet food etc not included.

Lets not focus on details on why we have agreed to keep our finances separate.

Would you rather a Semi or a Detached

As have expressed interest in a Semi-Detached or a neighbour who plans on listing. We also have an opportunity to maybe get a detached house that is in the neighborhood.

1. Semi-Detached is a backsplit. Not on the market yet. Seller is aware of need to replace retaining wall and has gotten quoted of $45,000k and is going to factor that into the price, retaining wall is failing and falling apart

- 3 floors are renovated but 4th floor basement level isnt

- house has 2 egress windows but no walkout

- Maybe able to get couches that already exist and a few others things we dont currently own

- Fence not in best shape but estate said they are going to replace it

2. Detached is a typical bungalow. On the market and just had offer fall through.

- House is fully finished

- No egress windows and no walkout

Both houses are roughly the same total square footage, 2200sqft

Both houses are roughly same area

If we could get the Detached for $675,000 would that be a better deal then $570,000 to $590,000 for the semi but then cost of repairing retaining wall.

We could save some of our down payment to repair the retaining wall.

UPDATE: Realtor doing a showing when I drove by

We have a house in our area come up.

We dont do renovation ourselves so we would hsve to pay for it all.

Could we realistically do this house for $100k to $120k?

https://realtor.ca/real-estate/29732325/681-upper-horning-road-hamilton?utm_source=consumerapp&utm_medium=referral&utm_campaign=socialsharelisting

Im dumb forgot to post link

My girlfriends FHSA is not invested in anything and sitting in cash.

Could she realistically get rbc to cash it out to use as a deposit?

Thanks

Some banks offer special offers with incentives.

If these banks offer cashback why would someone not go with them??

RBC for example has a great offer at the moment, but Scotiabank has nothing

anyone seen the ice tea recently

Kirkland Signature Diet Green Tea

Item: 521456

Hello,

I read somewhere that you can sign a limited use with a realtor. There is a house my girlfriend and I want to put an offer in.

The offers are all due Monday.

Right now we are floating 2 options. 1 is a possible private sale with the neighbour and the other is this house that needs an offer Monday.

How could I go about getting a realtor for just this one property? I dont want to sign a contract for 30 days whatever normal contracts are.

Thank you for any advise and help

Update/Edit:

The house was originally listed for $840,000. They lowered the price to $600,000 and we are fully aware this is an attempt to do a bidding war, or get multiple offers. However, it puts it close to our budget.
We are offering $620,000 with a 5% deposit, payable within 24 hours if they accept. Conditions are house inspection and finance, with either condition falling through we will get our deposit back in full, with no fees.

We decided to use their realtor, and we signed no contract with them, and explained our intention was to use them as a one off, which they agreed and acknowledged. I understand people were against it, but we aren't actually expecting to get this house. At this point its just going to be for the experience.

Thank you for all those who commented, I will come back here Tuesday to post the update.