COVID and the housing market | Page 119 | GTAMotorcycle.com

COVID and the housing market

mimico_polak said:
Hell I’d buy that if my wife was on board. I’m sure it’d be more useful thank a pickup truck.
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It’s retired from service, they are tough little vans. Easy on fuel, plenty of space, popular as van life homes around the world. Most need transmission overhauls ($2500) at or before 200k, that’s reasonable considering a maintained 10 year old van with a new tranny and 300k will fetch 6-8k.

I might try a conversion on this one.
 
mimico_polak said:
EDIT: @george__ we had a few tenants that lived far away (Collingwood / Peterborough) and they would live in their units Monday to Friday and then back home to their families for the weekend. Difficult on the family but the time/cost of commuting made it worth it for them. Just a thought.
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At least 75% of the people I work with do this. The going rate for a bedroom in Kincardine is $200/wk. The nice thing about renting out a house per room is if they stop paying you can dump all their stuff on the lawn and there is nothing they can do about it.
 
Mad Mike said:
It’s retired from service, they are tough little vans. Easy on fuel, plenty of space, popular as van life homes around the world. Most need transmission overhauls ($2500) at or before 200k, that’s reasonable considering a maintained 10 year old van with a new tranny and 300k will fetch 6-8k.

I might try a conversion on this one.
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Please do. Would love to see how it turns out with time.

I believe @Scuba Steve is redoing the interior of his van and it was going well last he updated us.
 
@george__ back in 2009 I became single after a 21 year relationship...the ex and I sold our home, I purchased my own but needed to rent until construction was completed...I ended up renting a room for $500/m and had just as many rules as the ad you posted...a guy that I was "dating" (I call him my 'boy toy') also rented a room in a house and he too had some weird rules to follow...as far as I see it, if you're basically living with a family (or a couple/single person) and sharing their home, then it's their rules or don't rent from them...kind of like being a kid in your family home...parents have rules and the kids need to follow them...that, or move out...yes, you're an adult and yes, you're paying them, however, you're still living in their home with them...just my two cents worth...
 
Saw a house on my walk this morning in our neighbourhood...

Sold in Jan 2021 - $1,250,000
New walls
New electrical
Fill in pool
Landscaping
Paint the outside of the house
Driveway
Basement converted to a rental suite
Basically 100% gut job
2 Months prior to work beginning

Listed yesterday for $1,299,000

Smaller house, smaller lot, smaller driveway, and on a main street at a stop sign.

A5C243B6-2F35-406F-A56F-897E5A718694.jpeg

I’m surprised how nice the paint looks. I’m almost tempted to go check it out inside.
 
^^
I thought your house would be bigger(ish) like a mini MacMansion .......
 
mimico_polak said:
Saw a house on my walk this morning in our neighbourhood...

Sold in Jan 2021 - $1,250,000
New walls
New electrical
Fill in pool
Landscaping
Paint the outside of the house
Driveway
Basement converted to a rental suite
Basically 100% gut job
2 Months prior to work beginning

Listed yesterday for $1,299,000

Smaller house, smaller lot, smaller driveway, and on a main street at a stop sign.
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So someone did all that work in six months? Or all that was done just prior to January? Either way, unless they get a huge bidding war, they are losing. To get principal residence capital gains exemption, do you need to live there for 18 months or is that only on a new build?

EDIT:

You added a picture. Painting brick may be the dumbest thing you could ever do to a house. You took a surface that was essentially maintenance free and now you are on the constant treadmill of repainting your entire house.
 
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george__ said:
^^
I thought your house would be bigger(ish) like a mini MacMansion .......
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Normal house, beautiful neighbourhood.

How many sq ft is a mini Mcmansion?

For those looking for a way in, there is a small house for sale in Barrie that seems promising. 750 sq ft two bed listed for 490. On the market for a week. 14 Eccles St. That is up almost 100 from last year when they listed but didn't sell.
 
george__ said:
^^
I thought your house would be bigger(ish) like a mini MacMansion .......
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LoL that’s not my house.

@GreyGhost the house was sold in January with no work started until about March / April (I assume permits were taking this long).

They are 100% hoping for a bidding war. The house closer to us sold for 1.387 (listed 1.25) so if they even get 1.4M (doubtful but who knows) that’s 100k before expenses and no capital gain exemption.

let’s assume 50k of work, and the buying/listing agent is the actual owner…not much left. I can run the assumed numbers later but even if the guy makes 30k after all is said and done. Not great but if you’re flipping 5-10/year it makes for a nice income.
 
I get that they are in a tough situation but at some point they need to pull their heads out of their *****. One income (odsp), two adults, three kids (two teenagers and a five year old with severe brain damage) and two pets. Can't possibly live in one room, need elevator, bungalow, won't give up pets, won't consider moving further away from city to get cheaper rent, won't leave 14 year old to take care of family while one works, etc I'm surprised they aren't starving to be honest. Odsp normally pays crap.

www.thewhig.com

'This is not a money issue. This is a housing issue'

Since May 1, 2021 the Wrights have been one of many homeless families in Kingston.
www.thewhig.com www.thewhig.com
 
Wow that’s a ****** situation. You can get cheaper rent away from the city, but how does that help being near facilities the disabled child requires.

Very tough position.
 
mimico_polak said:
Wow that’s a ****** situation. You can get cheaper rent away from the city, but how does that help being near facilities the disabled child requires.

Very tough position.
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I'm not suggesting they move out near trials but if you can get a 20 minute drive away from Queens, rent should be much happier (if you can find a rental in that location). If you are right in the area where everybody else wants to live for work and school, you aren't going to win, you are outgunned by 31 of the 32 applicants.
 
mimico_polak said:
Saw a house on my walk this morning in our neighbourhood...

Sold in Jan 2021 - $1,250,000
New walls
New electrical
Fill in pool
Landscaping
Paint the outside of the house
Driveway
Basement converted to a rental suite
Basically 100% gut job
2 Months prior to work beginning

Listed yesterday for $1,299,000

Smaller house, smaller lot, smaller driveway, and on a main street at a stop sign.

View attachment 50503

I’m surprised how nice the paint looks. I’m almost tempted to go check it out inside.
Click to expand...
One just went near me in one day. Similar house, no pool, probably slightly worse lot for >500 more than us 2.5 years ago. Craziness. In the last six years, the neighbourhood is about 200-300% up. If you could sell and move far away (join @Mad Mike in Porcupine?) it is getting close to retirement amounts of money. If you want to stay in the area, it is just a shell game and you need to keep working forever to pay down a mortgage.
 
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