Did the same starting with a $200k property that I could afford and rented out the basement. With astronomical increases in the real estate market, was able to capture capital gains by upgrading homes a few times and combined with some frugal savings, I now have a million dollar home mortgage-free. Wasn't able to hobby much in the early years, but I now live much easier.
GTA Homeowners-How are you able to afford a home here?
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But you will never get your youth backDid the same starting with a $200k property that I could afford and rented out the basement. With astronomical increases in the real estate market, was able to capture capital gains by upgrading homes a few times and combined with some frugal savings, I now have a million dollar home mortgage-free. Wasn't able to hobby much in the early years, but I now live much easier.
Worked well for a lot of people and a lot of buyers are still counting on the price of their home continuing to increase - hopefully they don't get burned too badly when the time comes.Did the same starting with a $200k property that I could afford and rented out the basement. With astronomical increases in the real estate market, was able to capture capital gains by upgrading homes a few times and combined with some frugal savings, I now have a million dollar home mortgage-free. Wasn't able to hobby much in the early years, but I now live much easier.
that's a lot of churn.
And you wouldn't mind the realtors taking their pound off your flesh each and every single time?
Land transfer? closing charges of all sorts?
Compared the realtor (5 weeks to study for their exam? less?) shave with how much a fully trained & licensed lawyer charges for closing a real estate deal.
And you wouldn't mind the realtors taking their pound off your flesh each and every single time?
Land transfer? closing charges of all sorts?
Compared the realtor (5 weeks to study for their exam? less?) shave with how much a fully trained & licensed lawyer charges for closing a real estate deal.
I bought my home when it was in the $200k's... Even though I can afford the payments on a $600k house, I wouldn't do it... I'd rather slowly move up to a detached if I were to start over right now... u know, the condo, then townhouse, then semi, then detached thing.
also, alot of people are shacking together with family members to split the mortgage nowadays... hence why a house on a less than 50foot lot requires a double car garage and double wide driveway! nuts....
Compared the realtor (5 weeks to study for their exam? less?) shave with how much a fully trained & licensed lawyer charges for closing a real estate deal.[/QUOTE]
Lots of expenses go with being a real estate agent, but I agree - they sure take the lion's share out of the transaction. I think the model will change in the near future, as real estate agents will loose their "gatekeeper of information" status. I think the selling agent will still get a good chunk..but the listing agent???
Lots of expenses go with being a real estate agent, but I agree - they sure take the lion's share out of the transaction. I think the model will change in the near future, as real estate agents will loose their "gatekeeper of information" status. I think the selling agent will still get a good chunk..but the listing agent???
I live in 905 area code and no not Brampton. Houses in my area are pretty big (3000 sq ft and more) and most of them have 4 or 5 cars in the driveway, they are asian (indian/pakistan) owners. The house across the street has two apartments in the basement. People have knocked on our front door wanting to rent out our basement, we do not rent out the basement. My neighbours are two brothers living with there wives and kids. I HATE the area and wish we could move, sadly I am back at home due to economic reasons.
I kind of envy the poster, not sure I would want to live in USA or Ohio - but your setup sounds alright. I actually drove to NYC a couple of weeks ago and took a few back roads and came across some really nice postcard towns along the way.
I kind of envy the poster, not sure I would want to live in USA or Ohio - but your setup sounds alright. I actually drove to NYC a couple of weeks ago and took a few back roads and came across some really nice postcard towns along the way.
I hate those "new development" areas too, usually barren as desert, no trees, no shrubs, just artificial lawns, and endless fields of houses and townhouses, mostly owned by new immigrants. they think they are getting their money worth because of the house is new, and large. Maybe after 100 years, the area will become more live-able, trees will grow taller to block desert storms, some may plant flower gardens to make the place look less industrial / artificial. Adds more personality to the area so to speakI live in 905 area code and no not Brampton. Houses in my area are pretty big (3000 sq ft and more) and most of them have 4 or 5 cars in the driveway, they are asian (indian/pakistan) owners. The house across the street has two apartments in the basement. People have knocked on our front door wanting to rent out our basement, we do not rent out the basement. My neighbours are two brothers living with there wives and kids. I HATE the area and wish we could move, sadly I am back at home due to economic reasons.
I kind of envy the poster, not sure I would want to live in USA or Ohio - but your setup sounds alright. I actually drove to NYC a couple of weeks ago and took a few back roads and came across some really nice postcard towns along the way.
