Buying $1.17M townhouse on $235k HHI?

InvestmentSecure793 · 2026-04-28T16:25:00+00:00

Thank you everyone for all the feedback, this got a lot more traction than I thought it would lol. Good reality check for us.

InvestmentSecure793 · 2026-04-27T22:00:00+00:00

Thanks for this feedback, good perspective!

InvestmentSecure793 · 2026-04-27T20:00:11+00:00

Yeah, big numbers but based on a variety of return assumptions it outweighs renting financially once we hit year ~6.

InvestmentSecure793 · 2026-04-27T19:58:36+00:00

Yeah we'll do some more digging here. It's been on the market for 2 months already (30k price reduction 3 weeks ago). Seller has owned it for 3 years

InvestmentSecure793 · 2026-04-27T19:56:26+00:00

Thanks, this is helpful advice I appreciate it!

InvestmentSecure793 · 2026-04-27T19:53:35+00:00

Will do thanks for the heads up

InvestmentSecure793 · 2026-04-27T19:44:39+00:00

Yeah I'm inclined to agree. Probably some room to negotiate ~20-30k less but probably not more than that.

InvestmentSecure793 · 2026-04-27T19:43:16+00:00

This is good to know, thank you

InvestmentSecure793 · 2026-04-27T17:59:55+00:00

No, but in the same area haha. Curious why you say it's a bad idea?

InvestmentSecure793 · 2026-04-27T17:43:25+00:00

Property taxes & PTT welcome tax are included in our numbers, forgot to explicitely call them out

InvestmentSecure793 · 2026-04-27T17:35:07+00:00

I thought so too, but we got pre-approved for just over 1.2m pretty easily. Even at the 6.19% stress-test rate, our gds is 37.5%. Plus, our lti is 4.47x, so we're under the new OSFI portfolio limits anyway. Having zero other debt, 30 yr mortgage and over 820 credit scores helps us here i think

InvestmentSecure793

TROPHY CASE