May 2017

May 2017 (NET WORTH POSITIVE!!)

 

I have finally done it! My net worth is out of the red and finally into the green! The month of May was a big one for me for multiple reasons.

  1. Finally I reached a positive net worth!
  2. I made an offer on a house!
  3. Quickly learned that an inspection of a house is always important when purchasing a house.
  4. Didn’t buy that house
  5. Went to a festival with my friends that I haven’t seen in awhile and had a great time
  6. Hoping my next offer on a new house will be accepted. Inspection already completed.

I am hoping to get into real estate shortly. As you can see below I have liquidated a lot of my assets and now hold them in cash. This is for a down payment or deposit on a home. It has been tough finding a property in this crazy market but I think I have one lined up.

If you are looking to purchase a house I highly, HIGHLY recommend having a home inspection done, no matter the age of the home. Home inspectors go in with a negative eye and shed a lot of light on areas you may have missed during your initial walkthrough with your realtor. Spending $500 and probably saving myself $50,000 in repairs was invaluable to me. I had no qualms walking away from that deal, which was already near the top of my budget.

May 2017 Update

Assets May 1stst, 2017 June 1st, 2017 Change
Cash $4,130.53 $10,170.01 +$6039.48
Emergency Fund $2,742.98 $5,000 +$2,257.02
RRSP $12,752.71 $12,937.25 +$184.54
TFSA $3,820.31 $0.00 -$3,820.31
Questrade TFSA $1,715.26 $1,399.06 -$316.20
Lending Loop $630.52 $636.76 +$6.24
Other $900.00 $3,906.42 +$3,006.42
Total $26,692.31 $34,049.50 +$7,357.19
 
Debts      
Student Debt $29,929.46 $30,009.28 -$79.82
CIBC Credit Card $0.00 $0.00 +$0.00
AMEX Card $0.00 $297.70 -$297.70
Total $29,929.46 $30,306.98 -$377.52
 
Net-Worth -$3,237.15 +$3,742.52 +$6,979.67

 

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