A Money Coach in Canada

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What a weekend.  Thanks so very much to the many people who left me comments on my blog and facebook.

When all was said and done, yesterday I decided not to proceed on buying the gorgeous place.  The three main reasons were:

  1. The rush factor.  As many commenters pointed out, and I agree, rushing into a financial decision of this size is simply not a good idea.  It probably was a fantastic opportunity, and a very fair deal.  But the point is, I don’t know that.  When I bought in Vancouver, I had all my ducks in a row (oops!  except naive about legal fees – ouch!), I knew the market, and had looked at easily 20 places.  When I bought  “the one” it was a well-informed, grounded choice.   I may regret not having jumped at this place, but I’d rather consistently make my financial choices as an fully informed woman.
  2. The bank said I would get the mortgage, but only just.  It would nearly max me out on my ratios.  This would preclude any other opportunities for the foreseeable future.  That’s too tight for my comfort.
  3. The last reason is extremely simple:  I realized it was a bit more space than I need, and would require a lot more furniture purchases.  I’m used to living fairly simply (although elegantly!) and I don’t have a lot of Stuff. I want to keep my life that way.  I would have had 3 unfurnished rooms in this place, and then knowing me I wouldn’t resist furnishing and then I’d need to go find myself a financial coach!

So thanks again, so much, for all your thoughts, support and well-wishes.

And that’s the end of this story!

Have a great week,

Nancy

About the Author


Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com

4 Comments

  1. Probably the best decision. I’m glad you got the excited rush, though!

    [Reply]

    Aug 10, 2009
  2. brad

    Phew. I think you made the right decision too. I think if you fall in love with a house it’s okay to rush into buying it, but only if it’s reasonably affordable and won’t stretch you too much. Sounds like that wasn’t the case this time.

    Now with that bit of excitement out of the way, maybe we can get a post from you on the reasons behind the demise of Citizen’s Bank? What a shocker….

    [Reply]

    Aug 10, 2009
  3. E

    Totally agree with Megan … I got a bit nervous for you there … 🙂

    [Reply]

    Aug 10, 2009

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