Purchasing My First Property!

This afternoon I finally signed all the house papers with the notary! I’m now officially a homeowner and a landlord…

The property is a duplex in the NDG (Notre Dame de Grace) area of Montreal. It has 2 structures that have 3 bedrooms each and a basement. My plan (once I save up more $) is to convert the basement into a stand alone living space and I’ll stay there for a couple of years. The negotiations were tough and lasted over a month, but in the end I was able to get the price lowered by about $30,000.

I wanted to get this all done before June 1st, so I could say I bought my first property when I was 25, but looks like I was slightly late! In any case, I’m very happy and (before you ask) I’ll have to speak to the current tenants before I can get some pics to share.

Anyhow, after the down payment and the thousands of dollars in taxes and closing costs, I’m going to be broke for the next few months, but I believe this is a very good investment!!