This past spring/summer my boyfriend and I decided we were through paying someone else’s mortgage and started looking for something either affordable to rent or buy. I personally know quite a few realtors and honestly the only affordable thing we found was a dive. Something you were either paying 400$ a month for in rent that was gross, tiny and quite unlivable OR 800-1000 in mortgage payments for something quite the same.
Ive said it before and I’ll say it again, I grew up in Fernie, I love the place.. but so help me god I refuse to put another 10,000 into someone elses mortgage when I only make 20,000 a year. Mind you my boyfriend makes quite a bit more than that, but that is besides the point. I honestly don’t even think Fernie real estate is worth the investment at this point. It has reached such a high and the weather has been poor for so long that it makes me too cautious of taking that risk.
To make a long story short, we bought a 3 bedroom 1200 sq foot home in Coleman for 60,000. Mind you we have put 10,000 into it, but it is already worth over 100,000 on the market here. And in addition, my mortgage is 400$ a month and we can have the house paid off in 5 years.
Cheapest house we looked at in Fernie – 150,000
Cheapest rental – 300/month
Last years rental – 850/month
If only I had been old enough to get a mortgage when Fernie was still affordable.
I don’t ever want to see on this board again that Fernie is still affordable to live in, it in no means is.
Erica
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