Friday, September 11, 2009

The big purchase

For a good couple of weeks after returning home, we debated endlessly. I wanted it. He didn't. Just when I was about to give up, he'd light the fire again by suggesting that maybe he was into it. I'd get all revved up again, and we'd go back and forth, back and forth.

Eventually we decided to put in a really lowball offer, just to see what happened. The asking price was $39,500. We figured that if we could get it for way less, it might just be worth it. We contacted agent Mike and let him know we were coming through with an offer after all, but that it would be a lowball. I drafted an email for him to show the vendor, detailing all the things the house needed immediately and wild guesses about what it would all cost. We figured the highest we'd be willing to go was $28,000. So we put in an offer at...wait for it...$19,500. I felt ballsy and daring, and thought we might just get flat-out rejected. The optimist in me thought that we might get lucky though (or would that be unlucky??!).

The counter offer came back (a good sign). The vendor came down a lot, to $24,500. I was ready to just sign the dotted line right then and there, but Chris, ever the cheapskate, thought we should try and get it lower. We countered at $22,000 and then finally settled at $23,000. I couldn't believe it. We'd just bought a house (albeit a total dump) for $23,000. In PEI, like we'd always wanted.

Fast forward two months to mid-July, and we had another $500 knocked off the final price for the plumbing not being hooked up in the bathroom. The water test had checked out fine, and we were driving down to the Island again with an appointment with a lawyer for the Monday after we arrived. We'd be picking up the key to our new house. Lots of plans in our heads and a line of credit burning a hole in our pockets!


  1. Holy cow! I didn't know about this adventure! I would have been like you, tossing and turning as I envisioned the possibilities. My DH wouldn't have divorced me, but he might have had me committed LOL. I love old houses too... *sigh*

  2. A house in a beautiful place for under $25,000! Amazing! I can't wait to hear all you're able to do with it.

  3. Jen + Chris, I commend you!!
    You are both very brave and I admire the kind of courage it takes when people act on an idea instead of just talking about it. You're livin' the dream, kids - dry rot and all!
    No doubt you will have some doubts over the next little bit, but what the heck, you only go around once and you'll never know if you don't try it.
    My dad grew up on the Port Hill Rd. and if he was around today, I'm sure he would be able to tell you who lived in your house back when it was cared for. It's nice to know it's going to be cared for again.
    Good luck and enjoy next summer - we'll be reading!