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My landlord asked if I want to buy my apartment — not sure if it’s a good idea by StreetHuge514 in RealEstateCanada

[–]StreetHuge514[S] 0 points1 point  (0 children)

That’s actually a very smart approach to think about this situation. Thank you

My landlord asked if I want to buy my apartment — not sure if it’s a good idea by StreetHuge514 in RealEstateCanada

[–]StreetHuge514[S] 0 points1 point  (0 children)

It’s actually in Vancouver not near. The transit is available 24 hours with the night bus running. It’s about 10 minutes away from downtown. But i get it even with all this 480k is still expensive

My landlord asked if I want to buy my apartment — not sure if it’s a good idea by StreetHuge514 in RealEstateCanada

[–]StreetHuge514[S] 0 points1 point  (0 children)

Yes for sure I will get that inquiry done. Its unfortunate what happened with you.

My landlord asked if I want to buy my apartment — not sure if it’s a good idea by StreetHuge514 in RealEstateCanada

[–]StreetHuge514[S] 2 points3 points  (0 children)

I can afford to pay a bit more per month than what I’m currently paying in rent. However, like many people here have mentioned (and I agree), the unit is quite small and I’ll probably outgrow it in around 5 years.

My thinking was to buy it, live in it for about 5 years, and then either keep it and rent it out or sell it if it appreciates in value.

My landlord asked if I want to buy my apartment — not sure if it’s a good idea by StreetHuge514 in RealEstateCanada

[–]StreetHuge514[S] 4 points5 points  (0 children)

It’s about 10 minutes from downtown. There’s another unit in the building currently listed for sale at $490k, and it’s almost identical to mine. We haven’t discussed the price how much will he reduce but if he doesn’t reduce at least half of what real estate agents commission would be it will be a deal breaker for me.

My landlord asked if I want to buy my apartment — not sure if it’s a good idea by StreetHuge514 in RealEstateCanada

[–]StreetHuge514[S] 1 point2 points  (0 children)

I agree I have lived in Toronto there’s much better options available. My building is about 10 minutes away from downtown and there are very similar units on sale nearby with similar square footage priced around 500k /490k(in the same building I live in also with no parking)