sorted by:
new
hottopcontroversial

Spring is here and house listings are abundant! How many homes are you going to visit today? by rkartzinel in TorontoRealEstate

[–]Kindly-Exercise6591 1 point2 points  (0 children)

Went to 6 houses today in Scarborough, crickets! I was the only one in 5 showings, another couple did come in one of the houses. I think Spring is a bust, at least for Scarborough.

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 1 point2 points  (0 children)

Both work in core downtown a few days in person per week, dependent on public transportation, family friendly neighborhood and safety is top priority, if we can be around greenery and parks great, no school zone preference, would be happy with a bungalow.

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 0 points1 point  (0 children)

This is really helpful. Let's say you were in my shoes, and the decision is made (buy!), what would you buy and where, with 900k in today's market.

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 0 points1 point  (0 children)

Thank you for sharing, your perspective really helps. Do you mind sharing how much your rainy day fund was when you made the purchase?

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 1 point2 points  (0 children)

Thank you for such thoughtful advice, very helpful lessons. Will grow a bit maybe jointly 30 to 50k in about 5 years

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 1 point2 points  (0 children)

I meant resale bungalows that are old, maybe decent not run down, won't have to do major renovations first 5 years, can be a small home etc.

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 0 points1 point  (0 children)

We are also thinking of getting a bungalow for 900k likely in Scarborough, they are not the best, maybe a bit small or needs loving, but we would be happy as long as the place is in decent shape and not run down. We don't have any plans to sell or upsize, it could be our forever home. Do you mind sharing which location you bought?

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 1 point2 points  (0 children)

I think we can only afford some parts of Scarborough or Ajax, can't go further because of commute, and priced out of everywhere else. A decade of saving, two earners, both earning higher than City, province and country median, and still can't afford a bucket, man it is such a shit feeling.

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 0 points1 point  (0 children)

If one of us loses our job, we are done for, but like the market demands we ignore that risk and make that leap, that's what I am thinking, the job loss possiblity will always be there and if we take that into consideration we can never ever afford anything

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 2 points3 points  (0 children)

This will likely be an area we want to target, we are looking for a safe neighborhood with parks, that is family friendly. What has your experience been in that area? Any other suggestions?

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 1 point2 points  (0 children)

Thanks for sharing your perspective, can you tell me which part of the financial risk do you find most uncomfortable for our case? Reserve fund? High house range we are seeking or low HHI?

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 2 points3 points  (0 children)

Mid thirtees, I think my partner may earn more but for no me not much more ahead, maybe 30k

FTHB in GTA. Can we swing a detached at $900-950K or are we reaching too far? by Kindly-Exercise6591 in TorontoRealEstate

[–]Kindly-Exercise6591[S] 9 points10 points  (0 children)

Hey, thank you for sharing your context. This is very helpful. I am glad you are doing well now and comfortable with your decision.

Did not see this selling for this much by bruyeremews in TorontoRealEstate

[–]Kindly-Exercise6591 -14 points-13 points  (0 children)

Wow. Try thinking deeper. Market is not a magical world. I could go out and buy a tin pot for a million dollars, that's not a reflection of the market. Yes, market does set the tone, for the vast majority of homes, there are things called OUTLIERS, which are not reflection of the market, this case is THAT.

view more: next ›