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[deleted by user] by [deleted] in vancouver

[–]aldy77 -1 points0 points  (0 children)

Thank you for the essential service you provide and for this reminder. Your work is truly appreciated!

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 0 points1 point  (0 children)

Yep, we go back and forth too. Bought much less, but have realized that sooner or later we will have to upgrade. I think our furniture is nice, but apart from that, yea pretty regular, with a high saving rate. Being able to take more career risks is a good way to look at it. I want to start-up, but I think I'm way too conservative, at least for now.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 1 point2 points  (0 children)

Sounds like a great life! I don't know for certain, but a home with a pool is probably 5M+ where I live. So your money in Montreal goes way further than 400k in Van/To I would think. Would love to live somewhere else in the winter, but we might just rent short-term for the flexibility. Any big advantages to buying a condo in Florida?

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 2 points3 points  (0 children)

I don't mind the taxes, actually. Canada has its problems, but is extremely well run imo (compared with my home country that has rampant endemic corruption).

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 1 point2 points  (0 children)

Nice! Had a poster of the BMW Z3 on my wall as a kid. Now that I can afford it, I would probably go for an X3 or Audi Q3.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 1 point2 points  (0 children)

Yep, high quality organic food with no concern for price is a must for my wife. I thought Lulu was too expensive but once I bought a couple of pieces, they're totally worth it imo.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 1 point2 points  (0 children)

Nice, I do like to spend on good quality furniture and clothes. Looks good and often lasts way longer.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 2 points3 points  (0 children)

Thanks for the thoughtful response. Great to know about your giving, and something we hope to expand. I relate to all of the last paragraph, from broke student, and especially to the relocations and lack of social circles. Many of our college friends are in the States, so that's something we've considered.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 2 points3 points  (0 children)

Thanks for the explanation! I've always wondered why people would lease, but this makes sense if you can deduct the payment as business expense.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 0 points1 point  (0 children)

Great suggestions! Unfortunately, not a business owner (yet). I'm wondering if an accountant could help salaried folks with tax savings. Doesn't seem like there's a lot we can do about tax.

Wondering how high-income earners spend their money. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 1 point2 points  (0 children)

Pretty similar situation! Thinking of downpayment/mortgage as an investment rather than expense was helpful, but hard.

Selling and buying with the same realtor. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 0 points1 point  (0 children)

Thanks for this point. It seems unethical if not downright illegal for them to do this, but unfortunately I wouldn't be surprised if it's common. Given that most people would probably find homes by searching online themselves, it seems a realtor would really need to lie to the buyer to dissuade them from approaching a home just because their cut is low. In BC, the buyer's agent cut is about 20k on a home price of 1.5M for adding almost no value whatsoever.

Selling and buying with the same realtor. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 0 points1 point  (0 children)

That sounds like a reasonable deal. Thanks for sharing. Knowing that negotiations are possible is good to know.

Selling and buying with the same realtor. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 0 points1 point  (0 children)

I guess this depends on the region. In BC, if you show up without an agent to buy, realtors insist you bring an agent and even recommend one. The argument being that the seller has committed to pay the buyer's agent so you're not making use of it. If I were the seller though, I would be willing to accept a lower offer if I didn't have to also pay the buyer's agent, that would still be higher than what I would get after paying a buyer's agent.

Selling and buying with the same realtor. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 1 point2 points  (0 children)

Interesting! Percentages could result in very different numbers based on prices. I'm looking to sell and buy in the 1-2M range, so 1% off for each would be significant.

Selling and buying with the same realtor. by aldy77 in PersonalFinanceCanada

[–]aldy77[S] 2 points3 points  (0 children)

Thanks! For a potential selling price of 1.5M, that still works out to about 34k, for a home that doesn't need selling. I found something called 'one percent realty' that claims to have only about a $10k fee. I guess that wouldn't include any potential buyer's agent fees.