More House Disappointment

Well... I honestly thought I found myself a house. I went to see it Tuesday night and I liked it. It was quite big, with the potential for an apartment downstairs and a driveway and double garage (one half of it being a workshop). It was a great shape, the only apparent thing that would have to be fixed before I could be insured was upgrading the hydro service from 60 Watts. The house is in great shape, with the downstairs apartment needing some work to bring it up to code. It even came with appliances for both floors. Yesterday at lunch I brought my dad to see it and he liked it as well. We were even at the point of starting to talk about making an offer.

And then I called my mortgage broker. The house is no longer in my price range now that I have a car loan. I could get my dad to sign on with me, but he and I did a little number crunching and that would stretch my salary and current bank balance to the limit. It would definitely be a risk to try and buy the house, upgrade the hydro, bring the apartment up to code, and then find someone to rent it from me. And at that point I haven't even factored in furniture, phone, and internet.

I dunno... I guess the nails aren't quite in the coffin of that house, but it seems like a big risk right now. I guess I need smarten up and pray about this one.

Matthew.