Disclaimer: I am not a financial advisor. None of this is financial advice. I encourage you to do your own research.

The big 3-story pine tree was the first thing I saw when we rounded the corner and drove half-way down the hilly street on that rainy Monday morning in June. Behind the giant tree stood the house, a 2001 raised bungalow with a grey brick facade, large windows and a for-sale sign staked into the freshly cut lawn.

We parked on the cracked driveway behind our real estate agent’s white corolla. “I hope you like steps!” Suzanne said as she held her large folder over her head to stay dry. We followed her up the steep drive and then up 13 large winding steps to the front door.

“The nice thing about being on a hill is the views,” she said, fiddling with the lock box.

I turned around and saw that we were towering over the street, the smell of freshly cut grass swirling upwards. Rainwater gushed down the driveway towards the street, and in the distance, a forest of trees bunched together like giant heads of broccoli, under a rolling mist extending for miles all the way across the horizon and down to Lake Nipissing.

Everything felt surreal. I still couldn’t believe we were house-hunting, something I never thought I would get to do as a millennial. But after spending the last two weeks calling around for rentals with no luck, and seeing the reasonable home prices in North Bay compared to Toronto, we had found one house on Realtor that had taken our collective breath away. Now standing on the front porch, the house was even more magnificent in person.

We put on our masks before entering the wreath-adorned glass door and stepped onto a welcome mat and into the front foyer. A chandelier light fixture illuminated the way, creating a cozy atmosphere. Up more steps, into the large living room with stunning views of the trees. Rain water battered the windows. Into the kitchen, stainless steel appliances gleamed, putting our tiny Hamilton kitchen to shame. We padded along the hardwood floors down the softly-lit hallway and into an office, then into a guest bedroom and finally the main bedroom. I gasped as we entered, and I saw one wall painted charcoal grey, the other café au lait, and a four-poster queen-sized bed covered in white and brown pillows and a fluffy duvet. There was a big closet on one side and on the other, a large 3-panelled window, looking out into the landscaped backyard. Through the window I could see a haven of birch trees, maple trees and a spinning air conditioner unit gently cooling the house a comfortable 19 degrees.

“How long has this place been on the market?” I asked as I wandered into the grey and white ensuite.

“One month,” Suzanne said, checking the listing. “But it may have been over-priced. They just dropped it down to 440k”.

Victor and I looked at each other in shock. 440k wouldn’t even get you a decent one-bedroom condo in Toronto, let alone a three-bedroom house with a two-car garage, central air, landscaped yard and sweeping views. Not only was this house perfect, it just felt…right.

“Let’s check out the backyard?” Victor said with a smile. I grabbed his arm as we practically floated outside, whispering to each other how much we adored this house. Soon we were outside in the fresh air.

“That’s better,” Suzanne said pulling down her surgical mask. The three of us stood on a wooden deck with an awning and violet curtains that created an outdoor oasis. The rain had stopped, and the sun was now shining on the owners’ impressive garden. Pink roses, hydrangeas, daisies and a million species of green plants shared the space with little garden Buddhas and an elephant. A large maple tree swayed above us, its leaves rustling softly in the breeze.

“Well we just…” I said, looking at Victor. I was lost for words.

“We love it,” he said. “We can probably give them what they’re asking?”

“Maybe even a bit more in case there’s competition?” I said. Victor nodded eagerly.

“I don’t think you need to go over $10,000,” Suzanne said. Victor and I told Suzanne about Toronto, land of the bully offer, where it was normal for houses to go hundreds of thousands of dollars over-asking. We both secretly knew that while we couldn’t offer that much, we would be happy to offer more than $10,000. We had been pre-approved for a mortgage, and even though the Covid crash was still in play, we were comfortable with the $90k down payment.  

“This is a different market though,” Suzanne explained. “I don’t know that you’ll be able to sell this house for a profit in three years after Victor’s posting is over.” As this was our first real social encounter in North Bay, we were touched that a real estate agent would choose to protect our interests over a potentially higher profit. We decided that we would follow Suzanne’s suggestion and offer $10,000 over-asking. Suzanne said there would be two other showings that day, and the owners would be reviewing offers that night.

“Fingers crossed,” she said, as we made our way back down the driveway. “If you have time to explore North Bay, check out Birchhaven cove park. It’s where we used to have drunken bonfires back in high school. Those were the days!” she cackled.   

Once in the car, Victor and I both exhaled sharply. It felt like we had both been holding our breath in the whole time.

“I love that house,” he said. “I really hope we get it.” I agreed, but not just because the house was perfect and move-in ready. If the owners didn’t accept our offer, I wasn’t sure what we were going to do. There weren’t many rentals in North Bay and this house was the only one for sale within our budget. Victor’s posting started in less than two months, and right now, we didn’t have a place to live.

To ease our fears, we decide to take Suzanne’s advice and check out Birchhaven cove park. We drove down winding, hilly roads lined with pine and birch trees, passing a ski hill on our left, the chairlift suspended in mid-air. I wondered if the ski hill would be open by wintertime, or if Covid would cause it to close indefinitely. Was this new world permanent? I was still in shock at how much our lives had changed in a matter of months. I had gone from frantically commuting back and forth to the office and living in a one-bedroom apartment in Hamilton, to house-hunting in a part of the country that could only be described as a northern paradise, with its fresh air, trees, lakes and kind people. Surrounded by so much nature, I felt an overwhelming sense of relief, as if I had been thirsty for so long and was finally drinking a cool glass of milk. We parked the car on a residential street and followed a gravel path through a thick wood, into a cove with a sandy beach, picnic tables and a calm, swimmable lake. We walked down to the shore, took off our shoes and waded into the cold shallow water which quickly became dark and deep within a few steps. Across the shore, pine trees stood on ancient grass-covered rock formations which continued in twists and turns as the water left the cove and rippled towards the larger, connected Trout Lake.  All around us was quiet, the only sound the soft buzz of a cicada in the distance.

I turned to look at Victor. “I can’t believe this place,” I said, smiling. “It’s just so beautiful!”

Victor pulled me close and kissed the top of my head. “It really is,” he said. “I think we’re going to have a wonderful three years here.” I knew he was right, whether we ended up getting the house or not.

That night we found ourselves back at our 3-star hotel enjoying another dinner of Swiss Chalet take-out when my phone rang. It was Suzanne.

“So, there’s another offer on the table but the owners want you to have priority,” she said through speaker phone. “But they are wondering if they can push out the move-in date to the end of August so they can have time to clean and stuff.”

Victor and I looked at each other with uncertainty. His posting started right after the August 1st long weekend which meant we would need to be in North Bay a few days beforehand. Where would we live for a month? And what would we do with our couch, bed, coffee maker?

“I guess we could stay here,” Victor said, referring to the hotel in which we were currently enjoying our Swiss Chalet. “And put all our stuff in storage?”

“I can make us healthy meals in the kitchenette?” I offered. Although a month of Swiss Chalet didn’t sound like a bad thing. The more I thought about it, the more intriguing of an idea this sounded. Why not spend August in a Hilton Homewood Suites along the water? We had some hotel points, and since very few people were staying in hotels during the pandemic, the discounted price for this room was reasonable. And having embraced minimalism over the last few years, I found the thought of temporarily living out of my backpack thrilling. 

“Why don’t I let you two talk it over,” Suzanne said. “But they need to know in forty minutes.”

“No it’s okay,” I said. “We want the house. We can accommodate.”

“Are you sure you’ll be alright in a hotel for that long?” Victor asked.

“Yes,” I said. “I’m sure.”

“Okay, I’ll get back to you by midnight,” Suzanne said, and hung up. I felt myself start to shake. Did this mean we got the house? What had we just agreed to? Everything was happening so fast! We were both so excited and nervous. And it was only 8 p.m. How long would we have to wait for Suzanne to get back to us?

At 11:45 p.m. I jolted awake to the sound of Victor’s cell phone vibrating across the coffee table. I must have dozed off waiting for Suzanne’s call.

“Congratulaaaaaaations!” Suzanne sang through the speaker. “That was a close one!”

I shrieked with joy. The house was ours! In just two months’ time Victor and I would begin a new life together up north. And we had two places to call home – first the hotel and then the house. All this while the pandemic had forced my office to remain shut, my corporate stresses scattered across a dark, abandoned desk like a handful of paper clips. I had never felt so excited and free in all my life.  

Repeatable steps I took that you can too!

  • When the time is right to buy a condo or a house, make sure it is not the most expensive house on the block. And make sure you love it.
  • Listing prices can be starting points for negotiation. Depending on the housing market, you may be able to make a lower offer. Or in our case, we needed to make a higher offer to win against the competition. Before making an offer on the house, take a good look at your down payment and budget. Can you afford to go over the listing price? What would that mean for your mortgage and monthly payments? The last thing you want is to be caught up in a late-night bidding war and accidentally bid too much or too little. To help give you an idea of what a fair price would be, you can use websites like Housesigma.com to see what comparable homes have sold for in the last year or so. North Bay was not yet on Housesigma when we put in our offer, but we were able to review recently sold comparable properties with our realtor to ensure we were paying a fair price.
  • We were lucky that our portfolio was starting to bounce back, and we could cover the down payment. The lesson here is that if you are planning on purchasing a condo or house in the next year or two, your downpayment should be in something safer like a GIC or a High Interest Savings Account in case there is a drop in the market.