Couples in Ontario, Canada, initially had a $150,000 home purchase budget: because of this loan exemption
Jessica, 31, is a hairdresser and stay-at-home mom; Philip, 27, an apprentice carpenter, met through friends in 2017.
At first, Jessica lived with her father in Newmarket, while Philip lived with his aunt and uncle in Richmond Hill.
They were fast, and a few months after meeting, Jessica moved into Aunt Philip's house. Initially, they planned to move out within a year and rent a house together.
But Aunt Phillip's house was big enough to have four bedrooms and four bathrooms, so they planned to save up for a nearby house. Philip was working as a manager at a hotel in the city center, while Jessica worked as a hairdresser in a salon.
House prices in the Greater Toronto Area rose rapidly, so they suspended their purchase plans.
In 2018, their first son, Valentin, was born. They set up a nursery in the study in the master bedroom where they lived. Unfortunately, her son was diagnosed with type 1 diabetes shortly after he was born, so Jessica stayed home to take care of him, occasionally going to work at a hairdresser's shop.
In 2020, they welcomed their second son, but Philip was forced to lay off due to the epidemic, and in January 2021, he began training courses for carpenter apprentices.
In March 2021, Jessica found out she was pregnant with her third child and they realized it was time to buy their own house and that their aunt's family was not enough to live!
Their home purchase budget was limited, only $150,000, so they had to leave the city.
One day, Philip saw an article about the cheapest city in Ontario.
Thunder Bay was on that list and they realized that this place was ideal for them. The city is affordable, close to nature (the whole family loves hiking), and there are good medical facilities for the eldest son's diabetes care.
In April 2021, they contacted a real estate agent. Philip had a contract as a carpenter in the city center at the time, and he had a hard time taking 15 hours to drive north to see the place. So they decided to conduct a virtual house search.
The couple wanted a house with at least three bedrooms, a backyard and a finished basement. There weren't many houses on their budget, and it wasn't until July 2021 that the broker took them on a virtual tour.
This is a three-bed bathroom house in the McKellar Park neighborhood for $159,000. They submitted a $150,000 offer on the condition of financing and a home inspection. But the latter showed severe fire damage in the attic, so the couple canceled their offer.
Realizing that there were too few houses to choose from on this budget, they raised the budget to $250,000 thanks to Philip's new job as a carpenter apprentice.
A few days later, their realtor took them on a tour of a three-bedroom and three-bathroom house priced at $219,000. It is located in McKellar Park.
The façade of the house is brick and stucco, and the front door has a balcony that leads to a corridor with wood paneling.
The main floor has a living room, dining room, study and powder room, and the whole room has a lot of wood decoration, such as oak cabinetry and more wood paneling in the dining room. Jessica and Philip loved that it made the home feel rustic and comfortable.
On the first floor there are three bedrooms and a full bathroom.
The basement has been completed and has a room, recreation room and bathroom with shower.
There is a small yard for the kids to play, a separate garage for two cars, and a small workshop for Philip's carpentry project.
Jessica and Phillip submitted an offer for the house on the same day for $240,000. Because they heard that there were other bidders interested in the property, the seller accepted!
But when the couple tried to secure financing, the bank turned them down because Philip's job was too far from their new home. They approached Philip's aunt as a co-signer, and instead she gave them 200,000 knives.
Add in their own savings, which means they can buy a home without collateral. Philip thinks it will be easy to get a new job at Thunder Bay after the family move.
Couples still drive to the house in the end and are more satisfied! They wanted to complete some renovations before moving in, such as replacing the roof, tearing off the carpet in the bedroom and installing vinyl hardwood, demolishing the kitchen of the upstairs bedroom and repainting the entire house. These renovations cost them about $20,000.
On November 10, 2021, their daughter was born. Then, on December 31st, they moved to Thunder Bay forever! And signed up for skating lessons for his eldest son.
Their new home is close to groceries, just a few minutes away, and the eldest son is also studying at a nearby elementary school.
In February 2022, Philip found a carpenter apprenticeship at a local company that built houses from containers. It only takes three minutes to drive to his place of work. Jessica plans to start hosting hairdressing clients at home after the children go to school or daycare.
While they miss their friends and family in Toronto, Philip and Jessica say their neighbours have been so friendly and welcoming so far. One of the women on their street even offered to take care of their children!
