The last Bank of Canada announcement kept the interest rate the same. I've already put next year's announcement dates in my day timer. I know...nerd!
I am forever amazed at people/couples who are able to take the long view on things. For example, D just toured the kitchen of a couple who finally got it re-vamped after living there for 8 years.
They have lived through one reno after another. It's amazing to watch. Their personalities make it work. That's not to say they haven't had their moments where they wished they had bought a new house but they got their house at a good time, paid a reasonable amount for it and saw the potential.
They also have no intentions of moving which in my mind, automatically makes them good candidates for building wealth.
Projecting myself onto this scene and D and I would likely never have gotten married in the first place much less have an opportunity to get divorced. I have patience for a lot of things but I would not willingly tolerate living in a construction zone for years. Living somewhere else while the construction was going on, OK.
I suppose it would be a more balanced approach to build something together over time. It is easier on cash flow and the budget. A more honest way of living perhaps? Compared to those of us who would buy everything so it can be set from day one?
It's an interesting mental debate because I am one of those who likes to be able to have everything set right off the bat. Because of that I drove myself crazy when we moved into our current house, having landscapers, masons and hvac guys all running around at the same time.
From a budget point of view, because I tend to those tendencies, I make sure I have the money for all that beforehand. So in that sense, we are similar to the couple above. The only difference being our money beforehand has to be a bigger amount so that it can cover all the work at the same time.