Buying A New House... Need Some Advice, Please!
- Thread starter Mina
- Start date
3500 SQ FT with a fairly well sized backyard (for todays' standards anyways)
It is just your normal corner home on a new development, nothing special.
I do have a "special" dungeon for the Key parties :agave:
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Has has the housing market collapsed from the outrageous 5% appreciation since Y2K yet?
We've owned 2 houses, first was a 12 minute drive from my work on a good day, 60+ on a bad day.
Second is 12 minutes from my wife's work on most any day.
It's not an investment, so much as a lifestyle choice.
My tip would be to buy close to some water.
What is that, something like 40' x 40', two storey?
We've owned 2 houses, first was a 12 minute drive from my work on a good day, 60+ on a bad day.
Second is 12 minutes from my wife's work on most any day.
It's not an investment, so much as a lifestyle choice.
My tip would be to buy close to some water.
What is that, something like 40' x 40', two storey?
Ya F that. I don't have a big fancy house but it isn't a small **** hole either. I'll be mortgage free at 42 and that makes me smile.
-D-
Banned
you hit on him and he rejected you
don't give up, contact that guy that has the Tinder thread here
something about the universe of manifest....
Excess cash?
You mean borrowed cash thats backed by cmhc?
You can't compete with stupidity, these same people who borrowed beyond their means will be the ones crying the most to anyone who will listen when the **** hits the fan.
No I didn't mean that. I live in west Hamilton where houses go from roughly 275-450. That's chump change if you've just sold a house in TO. Believe it or not Hamilton is hot right now. It looks to me like every house sold in my neighbourhood has gone to an Oriental and at asking or above. Nothing wrong with Orientals of course, but I'm sure the more "well to do" ones are finding there way to Canada and an extra 10-20-30 grand to lock in a house is doable.
We were lucky to have sold a condo and used most of the money as down payment, i won't be mortgage free at 44 (a year from now) but not that far away.
69 by 80 something, I can't remember
SeaBreez
Well-known member
You're right about Port Union... Most houses on my street go for sale on Friday with the sold sign posted on Monday. True, it's all about location. A neighbor down the street was all smiles after said bidding war. Rent, own, new or used the debate will never end. What to do, what to do? Regardless, owning a home has always been the cornerstone of building wealth, especially in Toronto.
Grind it out work yourself silly sit in gridlock for hours per day every bike ride takes an hour to get out of the city have threat of bike stolen pay thru the nose for everything put yourself at mercy of dealerships convince yourself the script must be followed and ask yourself how did I get here?
Red_Liner740
Well-known member
I'm in the house selling buying mode currently. We're about to place our house on the market and are semi actively looking for another house. We've also been talking to real estate agents and people in the industry. From all signs it looks like another hot and heavy sellers market. Prices in GTA are getting comical, to the point that you don't know whether to laugh or cry at the bidding wars.
All houses placed on market in my area have sold in less than 2 weeks, with most of them on the market just a few days. Good for me selling ,bad for me buying. It helps that the type of house I'm looking for is not what majority of people want so that's good, but it also means less number of such houses on the market.
Real estate agent was telling me people get into these idiotic bidding wars, only to have the lending institution deny the mortgage as it's not worth that much. Lol.
All houses placed on market in my area have sold in less than 2 weeks, with most of them on the market just a few days. Good for me selling ,bad for me buying. It helps that the type of house I'm looking for is not what majority of people want so that's good, but it also means less number of such houses on the market.
Real estate agent was telling me people get into these idiotic bidding wars, only to have the lending institution deny the mortgage as it's not worth that much. Lol.
Haven't gone through the whole thread, so sorry if this be a repost...
You can sign up for an email blast that comes once every few days letting you know off all the prices various properties sold for all across the GTA at Toronto Real Estate Solds: http://tosolds.ca/ The email blast has different links within it sorted by region (ex. Mississauga or Guelph etc). It also shows condos separately. The email links stay good for about 2 weeks and give you the opportunity to view each MLS listing for properties sold.
I'm not in the market anymore to buy or sell, but occasionally I check out the email blast to see what homes in my neighourhood have sold for.
You can sign up for an email blast that comes once every few days letting you know off all the prices various properties sold for all across the GTA at Toronto Real Estate Solds: http://tosolds.ca/ The email blast has different links within it sorted by region (ex. Mississauga or Guelph etc). It also shows condos separately. The email links stay good for about 2 weeks and give you the opportunity to view each MLS listing for properties sold.
I'm not in the market anymore to buy or sell, but occasionally I check out the email blast to see what homes in my neighourhood have sold for.
The Ontario bubble is showing no signs of bursting, GTA houses selling for over list and agents pricing low to encourage a bid war. Its a great time to be a seller, little more stressful on the buy side.
We looked at a condo in Oakville, didnt bite as it was missing some things we suspect we want at some point, but it supposidly sold for nearly 100k over list. Yikes.
We looked at a condo in Oakville, didnt bite as it was missing some things we suspect we want at some point, but it supposidly sold for nearly 100k over list. Yikes.
Red_Liner740
Well-known member
Bumpski!
Thanks for the link Shane, its been definitively helpful in determining asking vs selling price in our neighborhood and to strategize what to ask for the house.
To update the situation, Mid march we placed the house on the market, it sold in two days. Tuesday 3 showings, Wed 1 showing, everyone made an offer. We asked a bit on the high side for the area and size of the house and got withing 1500 of asking. Real Estate agent said we broke the record for 1200sf Link house in Tottenham. We also gained $82k in just over 4 years of living there, total calculated investment $12K with new driveway and countertop being the biggest $$ on the list. Washroom and kitchen were renovated by myself. We updated everything on the house other than windows. We wanted it to be as turn key and "sellable" as possible.
With that being said, i dont want to go through this any time soon. The idea of strangers walking through your house, judging you, always being on beck and call with Agents. Getting kicked out of the house so they can come and see it. Paperwork, running around. Screw that noise.
It all seems silly, but the suspense while selling a home is nerve racking, especially if you have another house lined up.
Thanks for the link Shane, its been definitively helpful in determining asking vs selling price in our neighborhood and to strategize what to ask for the house.
To update the situation, Mid march we placed the house on the market, it sold in two days. Tuesday 3 showings, Wed 1 showing, everyone made an offer. We asked a bit on the high side for the area and size of the house and got withing 1500 of asking. Real Estate agent said we broke the record for 1200sf Link house in Tottenham. We also gained $82k in just over 4 years of living there, total calculated investment $12K with new driveway and countertop being the biggest $$ on the list. Washroom and kitchen were renovated by myself. We updated everything on the house other than windows. We wanted it to be as turn key and "sellable" as possible.
With that being said, i dont want to go through this any time soon. The idea of strangers walking through your house, judging you, always being on beck and call with Agents. Getting kicked out of the house so they can come and see it. Paperwork, running around. Screw that noise.
It all seems silly, but the suspense while selling a home is nerve racking, especially if you have another house lined up.
Red_Liner740
Well-known member
Thanks
Yea, due to all the new development, a lot of people are looking towards Tottenham for housing. It was a hidden gem but not so much. Now the house prices are on par with Alliston and Barrie. With that being said it IS closer to GTA than either one of those towns but offers a lot less ammeneties. Honestly i liked living there, but for me to get the house i want with land, separate work shop etc i had to look further away.
Yea, due to all the new development, a lot of people are looking towards Tottenham for housing. It was a hidden gem but not so much. Now the house prices are on par with Alliston and Barrie. With that being said it IS closer to GTA than either one of those towns but offers a lot less ammeneties. Honestly i liked living there, but for me to get the house i want with land, separate work shop etc i had to look further away.
