first mortgage payment

Posted on April 28, 2007. Filed under: Condo Things |

Well, my first mortgage payment finally came out. I’ll be counting pennies for a while and even did up a handy expense sheet to see how much I’m accustomed to spending — a bit scary. Hopefully I’ll be able to up my payments. Even if I can increase them by $25 per payment, that’s $50 a month, which is more than an extra monthly payment per year. But I’m going to hold off on that just in case any unexpected expenses come up.

On another bright note, one of the other 5 units that have been for sale for ever in my building finally sold this morning. That makes me feel a bit more comfortable and it will be nice to not have to stare at the ugly sign for much longer. There are still 4 available and I’m actually kind of surprised that someone hasn’t scooped them all up to rent them out. I could easily rent this place out for double what I pay a month for it. Though I’m already so attached to it that it would be hard for me to find someone suitable, who would treat it well, to move in. Hopefully I’ll have a year or two before I have to think about selling or renting.

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3 Responses to “first mortgage payment”

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Pay that mortgage off early, Good luck and a smart move.

Might I suggest, if you can manage it, to pay you mortgage the way I do it. I get paid every two weeks, I pay 1/2 the mortgage out of each paycheck and by the end of the year I am one full payment a head. They say this will pay off the mortgage a full seven years early.

Con gratulations on your new home. I am sure it wonderful – Enjoy!!

Thanks Carey — I do already have it set up on bi-weekly payments. Definitely the way to go.

And thanks too Russell — fingers crossed that it will go well. I managed to not have to rent beforehand, so…so far so good.


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