I don't want to move. If someone really wants my house, the number is between two and three times what I paid two years ago. Any less and the annoyance exceeds the profit.
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COVID and the housing market
- Thread starter mimico_polak
- Start date
If it doesn't sell the first couple of iterations, you end up with a stale listing and potential buyers stay away, wondering what's wrong with it, that it didn't sell already. You can get burned badly that way. That's how we got our house. I've also had a neighbor put up an astronomical price, and someone bought it, sight unseen, the next day for their kids to stay in while they were attending U of T.
Likewise. I paid 970k for ours. If I’m moving, there better be a 2 and about 6 zeroes behind it.
If I sell for 1.4 or 1.5....WTF am I going to do in this market? A shack! I’d be able to get a smaller house, on a smaller lot, in a worse neighbourhood, with a further commute....no thanks. If I’m moving it’ll be to the west side of Credit Woodlands....with the rich folk and yards overlooking Erindale Park.
You can move to our nice Polish neighborhood.
Roncesvale? I can’t afford it there even with 2M!
Swansea, where the old bolt works was. A Polish builder put up a bunch of houses in the '70's.
I think right now our street has about 7-10 Polish families....
ifiddles
Well-known member
Friend of ours has his place in Acton up for sale...just under $2 million for a huge house and almost 2 acres...had showings yesterday and the day before and came home to door unlocked, lights left on, chocolate wrapper and cookie crumbs on the floor, shower door broken and worst of all, someone went through his drawers in his bedroom as they were all left open...needless to say, he is not allowing any more showings without him there...people are disgusting...
That's all on the "professional" real estate agent and your friend should file a formal complaint. They should know which of their clients are dirtbags and monitor properly.
In one house we looked at, the owners had left their collection of $2000 to $15000 watches in the unlocked glass case in the closet. wtf. Our agent was just sitting in the kitchen while we went through the house. When our last house was for sale, I moved everything of value out assuming people were incompetent and/or dirtbags. They could have stolen crystal wine glasses and made a mess but that's about it. Much simpler than an inspection after every showing to see what went missing.
IMO if you are happy there and have good neighbours (Or at least not bad ones) your selling price should move you into something that will make you significantly happier. Allow for unforeseen adjustments.
If something about your present place bothers you it might be cheaper to fix it than move. I figure when selling a million dollar house and buying something similar around the corner it would be good to calculate in a hundred grand disappearing with taxes, fees, moving expenses and minor adjustments. If you have some left over you win.
Yeah but there’s merit to that decision. Plenty of co workers here had paid off houses and jumped on selling. They moved 45mins further north have a bigger house fully paid off, 2 new Benz in the driveway and half a mil in the bank.
They don’t mind the commute for the other gains.
Someone said when selling a house the traditional way it was like living in a museum, not a dirty dish in the sink or sock on the floor.
If something wasn't there after a showing all you can do is make a fuss with the real estate company running the show. Short of having cameras everywhere you can't prove who did what. An open house is a nightmare.
Ideally you've moved into the new place and the old one is staged, cardboard TV and faux leather sofa.
I'm a cynic. I envision the sales person saying "Take a look around " while they work other deals on their cell phone.
My basement workshop has hundreds of dollars of small tools that wouldn't be missed until days later when needed. Little brats play with and break objects of sentimental value. Leave them with a babysitter.
That's pretty much how it goes. I moved all tools to storage except a single old-school toolbox with some b-grade hand tools in it. Cordless tools lived in the car. Important documents were in a backpack that was never left in the house when there was a showing. I could have left my house unlocked. Really the only thing of value was the contents of the china cabinet (which probably have a pawn value of ~0). TV hung on temporary wall mount could have been knocked off but otherwise nothing breakable left in house other than some furniture.
Oh for sure. If I could sell the property and still be able to buy a house cash....I’d be willing to put up with a lot.
But in this market....1M isn’t going to get you all that much anywhere near a reasonable (for me) commute.
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Deleted member 50930
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Includes all utilities except hydro? wtf is that? Look how wide angle the lens is, the stove looks about 4' wide.
Even before covid "executive" rentals in KW were crazy. I'm not sure what makes them executive other than the price. I saw a 3 bed backsplit listed for >$4K+.
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Deleted member 50930
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Canada’s Property Bubble Is Now So Large, A Soft Landing Would Take 19 Years - Better Dwelling
Canadian real estate prices are now beyond frothy, and the government says that’s fine. They believe they can prevent home prices from falling, and let incomes catch up. If you’re in government or banking, you may have already seen me explain how impossible this is. If you haven’t, this is known...
betterdwelling.com
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Deleted member 50930
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I feel really sorry for the students who have to come up with tuition + the crazy rent here
What the **** we rent out our whole townhouse for less than that.
Sent from my Chesterfield using my thumbs
My brother is in a similar boat to you. Now waiting for prices to crash so they can buy in. They had a chance two years ago but wanted a granite, 3+ bed, move in ready house for 400. They couldn't find it and now they have a larger approval and downpayment but the market has run away from them. Downpayment money is not invested. Outlook not good for home-ownership.Canada’s Property Bubble Is Now So Large, A Soft Landing Would Take 19 Years - Better Dwelling
Canadian real estate prices are now beyond frothy, and the government says that’s fine. They believe they can prevent home prices from falling, and let incomes catch up. If you’re in government or banking, you may have already seen me explain how impossible this is. If you haven’t, this is known...
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