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buying a house
- Thread starter ZX600
- Start date
Nothing is free. They are just willing to take a 40k cut from the already huge profit they will be making.
The house is only expensive because of its location, not because they use more material.
Any used house will have grass front and back, and some have trees too. It's not like people rip the grass out when they move. :laughing8:
more like comparing the costs of both being similar but you get so much more with a watermellon. you don't see many 4th floor walkups for sale. probably because most wouldn't buy them. my point is getting more for the money. it does cost a little bit more for utilities because it is bigger, but at the same time you get 3x the space.
kinda like comparing buying a lincoln town car vs leasing a ford festiva for the same payment, sure putting gas is cheaper in the festiva but you're leasing a festiva.
It sounded to me like you were comparing completely different locations. You said you now live in the middle of nowhere, that explains why its cheaper.
My argument was for equal properties. Condos in the city, for example. There are tons in the MLS both for sale and rent, and if you do the math you'll find that you would need around 25% or more down in order to break even with a renter.
Owning is only cheaper if you have a sizable downpayment. That's the way the market is right now and will be for a while to come.
If you don't have a lot to put down, its cheaper to rent. In our uncertain market it's only worth buying with a small downpayment if you intend to live there for a long time. Otherwise it could make more sense to rent and save on the side.
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Not looking to argue, just build on your point. If you talk with a competent banker you'll find most renters dont save on the side. Its just the pattern. Yes there are exceptions to everything.
Most owners could never save the level that the real estate may appreciate, while owning. Its a math thing sure, but there is a reason so many wish to be owners, most make out better it the long run.
if i was renting a house like i have it would cost me 60% more at the minimum in rent. how ever you do need to keep a place for 5+ years to break even
Yep, to me I would have bought the house for the same price without the 40k in upgrades so no matter how you put it is free money for me.
Not all new homes come with grass, most of them don't as it is an out of pocket expense. Yea all used homes have grass but I dont want an used home.
The same house in the same area? How much down % did you put?
I'm not being argumentative btw, just discussing... because I've been an owner for a while and a landlord as well. Houses in my area which sell for a bit over $500k tend to also pop up for rent at about $2000/mo. You'd need almost $200,000 cash downpayment to equal out the monthly expenses between owning and renting the same house. After the first five years you've also lost another 50k to interest.
I have never heard of new developments not having grass in Whitby/Brooklyn/Oshawa/Courtice. It's possible but never heard of it.
only put 5% down, got a 4 bedroom house in the country. this was 8 years ago, now you can't even find a mobile home for what this house cost. thinking of renovating a little and selling the house and looking for a cottage with a decent garage.
Well, we did end up picking all the upgrades, I must say I learned a lot. We went way over board from our original plan, but nothing not manageable
A few to list
-9 foot ceilings on second floor (first floor is standard 9)
-Cold cellar
-Door to enter the house from the garage ( you would think those are standard)
-hardwood floor everywhere but the entrance, kitchen and bathrooms - I spoke to a bunch of hardwood floor places And the difference from doing it with the builder and them was a few k, however for warranty reasons we decided to go with the builder.
- 200 watt and not 100
- upgraded tiles
-Taler uppers
and a bunch of other stuff I can't even remember
They are supposed to dig the whole this week and start pouring the foundation. I had some concerns with concrete pouring during the winter and emailed them about it, I got a prompt answer from the site superintendent with the list of things that get done to prevent any issues. So far customer service is awesome, never felt pushed to buy any extra upgrades, she actually talked us out of a few.
We pretty much drive to Brooklin every weekend to look at the lot for no reason, its just a piece of land lol.
Yea, we got standard I believe 2 phone outlets and 5 tv. We also got home theatre cabling and cat5 to a bunch of spots.They had a promotion for bell and rogers, we unfortunately went with rogers, we got 6 months free, plus a free pvr and a bunch of other stuff, I hate rogers but whatever, they all the same
I'm in the process of helping my daughter shop for a place in North Burlington, the upgrades add up in a hurry but the reality is the builders have a really good line on sub contractors and with the volume they are putting out its just better to pay up front. Some of the projects would be near impossible to achieve post build.
We did the same as our place was being built. Good luck with everything.
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