Next week will mark the One year count down until the property that I currently live on will change hands to a new owner. There will be no option of staying with the new owners as the property is slated for redevelopment, and moving on will be inevitable with an end date of May 21, 2013 as the final point in time before I must move.
For me, what is of concern will be the probability of having to relocate away from the Lower Mainland and Metro Vancouver area. Property values in the Vancouver area are by far over valued, and the question of when the bubble will burst is on everyone’s mind in my circles. Either way I am not in a position to put myself in a mortgage-trap situation as staying debt free is more of an imperative than finding affordable accommodation at this point in my life.
Affordability seems to be the buss-word on many lips these days—including mine. I have so many friends who are so far in debt, trying to keep their home, their current means and lifestyle, that I wonder who is in worse shape, the homeless, or them?
Credit and mortgage debt are huge for my nearest friends—do I really want to join them?
OK, so contemplation—what will I do as I have Twelve months maximum before I have to move and relocate. I have plenty of wiggle room to figure out what my next set of moves should be—the question of choosing the right move is what is worrying me right now. I have to move, so where to move is my first problem. The issue of affordability, if I want to stay in the Langley area, is currently nagging me in the back of my neck. Based on my current income, the likelihood of finding another dwelling that can suite my affordability is very low. Langley City and Langley Township have very high rent rates, and going down the mortgage route is way off the chart in my current income bracket. The conclusion that I see at this time will be to move away from this area, over to an area that is more affordable, but adding another variable which is finding new employment.
So, Twelve months to find another job. Sounds easy, but then again I have to keep in mind that the Canadian economy is limping along, and with the prospects of it getting worse is getting more predictable day by day. There is the underground economy which seems to be flourishing, but I do not want to enter down that dark path just yet. The underground economy is only an option of last resort, not a lifestyle change—although it does sound attractive. Searching for jobs within my profession are only lukewarm today, and they all seem to be culminating in regions further North—where only a few would ever choose to live. Employment could land me up in the Northern territories within the year.
As usual, time will change the outcome, and plans will need to be adjusted to correct the course that I am on. For now, today, it is pleasant—I am going to enjoy it—stay tune