The Sayward is comprised of some 150,000 hectares of forest land located on the east coast of Vancouver Island, northwest of Campbell River. Mountains encircle the forest on the north, east and west, and rivers and streams connect the many lakes that dot the region. The Sayward forest is a popular recreation area.
You can't get too old to buy a house. I'm 70 and owning a home is just as important to me now as it ever was. I enjoy getting out in my own yard and playing with the dog or the goat if I had one or planting a garden. The main thing is on my own place I can have what ever I want.
Sounds weird, doesn't it? But think how much fun that would be! No mortgage! No payments! If paying cash for a house seems too far out of reach, you can still buy a house if you make wise choices. Save a down payment of at least 10% on a 15-year (or less) fixed-rate mortgage, and limit your monthly payment to 25% or less of your monthly take-home pay. You can probably qualify for a much larger loan than what 25% of your take-home pay will give you. But it's not wise to spend more on a house because then you will be what Dave calls house poor. Too much of your income will be going out in payments, and that will put strain on the rest of your budget. You won't be able to save and pay cash for furniture, cars and education. The really interesting thing about 15-year mortgages is that they always pay off in 15 years. Thirty-year mortgages are for people who enjoy slavery so much they want to extend it for 15 more years and pay thousands of dollars more for the privilege. If you must take out a mortgage, pretend only 15-year mortgages exist.