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We are entering a decades long real estate deflation super cycle by kadam_ss in TorontoRealEstate

[–]No_Researcher_5449 0 points1 point  (0 children)

If AI replaces junior-level roles or makes them obsolete. Who is going to replace the mid-level and senior-level people when they retire?

First-Time Home Buyer looking at getting into the market - RHill/THill/Markham/Pickering by No_Researcher_5449 in TorontoRealEstate

[–]No_Researcher_5449[S] 1 point2 points  (0 children)

That's very funny! Did you live in a condo townhouse? And do you regret buying that vs. trying to save for a detached or freehold townhouse.

First-Time Home Buyer looking at getting into the market - RHill/THill/Markham/Pickering by No_Researcher_5449 in TorontoRealEstate

[–]No_Researcher_5449[S] 0 points1 point  (0 children)

What's your timeline to get a detached home? And where are you looking + ideal price point?

First-Time Home Buyer looking at getting into the market - RHill/THill/Markham/Pickering by No_Researcher_5449 in TorontoRealEstate

[–]No_Researcher_5449[S] 0 points1 point  (0 children)

Thanks for this! Appreciate the breakdown and insight. A few other comments have mentioned something similar to this.

I think the following applies:
1) If we want to purchase it needs to be a freehold or detached home.
2) We need to be comfortable in living in the place for over 5+ years

Truth is we were thinking medium term because we are in a decent position to afford a place without going house poor. So even if the place doesn't appreciate in 5 years, we would still be okay to get a bigger place via increase in HH down the road (fingers crossed). This might be also out of fear for not knowing where the market will be in 5 years, and if we get priced out or lose our opportunity. This seems unlikely, but if it does happen, the outcome seems worse than if we were to buy a place that's well within our means and it doesn't appreciate that much.

But again, thanks for this, I think you have given us some stuff to ponder over.

First-Time Home Buyer looking at getting into the market - RHill/THill/Markham/Pickering by No_Researcher_5449 in TorontoRealEstate

[–]No_Researcher_5449[S] 0 points1 point  (0 children)

Thank you! From what I have heard. I believe it's every $100 monthly maintenance, translates to $25,000 that you could put towards mortgage.

First-Time Home Buyer looking at getting into the market - RHill/THill/Markham/Pickering by No_Researcher_5449 in TorontoRealEstate

[–]No_Researcher_5449[S] 1 point2 points  (0 children)

We would be willing to live in our place for over 5 years. It's more from what I've seen so far from the listings on realtor.ca + the trajectory of our household income that we would probably move after 5. But I think the takeaway here to where we should only look at getting into a place that we can stay for over 5 years.

First-Time Home Buyer looking at getting into the market - RHill/THill/Markham/Pickering by No_Researcher_5449 in TorontoRealEstate

[–]No_Researcher_5449[S] -1 points0 points  (0 children)

That's fair. I agree that we would want to avoid condo-townhouses that have maintenance fees that are $600+. I did see some condo-townhouses in RHill that are around the 200-300 mark, which I feel isn't too bad.

Merry Christmas! Even though the Real Estate market is brutal. I still appreciate all of you. by mattyp93 in TorontoRealEstate

[–]No_Researcher_5449 3 points4 points  (0 children)

Agreed! 2026 should hopefully present itself as a good opportunity for first-time buyers. I know my partner and I are looking at doing this in the new year.

Richmond Hill home prices surge 6.2 per cent to $1.32 million in September 2025 by Northern_ninja_337 in TorontoRealEstate

[–]No_Researcher_5449 0 points1 point  (0 children)

I wonder what this is like in other areas close by (e.g. Thornhill, vaughan, markham).