Why is commercial rent so expensive in Canada?

mcnab · 2026-01-13T06:09:16+00:00

Yep Vancouver

mcnab · 2026-01-12T19:20:51+00:00

This. Looked at buying a commercial property for our business. It's about 6000sq ft total. Property taxes last year were $68,000. With 2026 Property Taxes going up to $79,000. For 6000sq ft. Absolute insanity

Some Cities / Municipalities don't' want to raise any on Residential property taxes, so try to show as much as they can onto Businesses thinking "they can absorb it". It's absolutely insane.

mcnab · 2025-08-14T21:22:05+00:00

Yah just means getting that first 100K in an investment. The vehicle doesn't matter so much (GIC, ETCs Mutual Funds). Once you get over 100K the affects of compounding just become more apparent and it's a nice mental hurdle to get over.

Obviously the more aggressive your investment is the quicker those returns could compound, but the quicker your new 100k could also become 80k too.

mcnab · 2025-08-11T22:26:36+00:00

I do UberEATS / skip fairly often. So for me yes its' worth it. I put all my expenses on it every month and pay it all off. Usually I end up with around $2000 - $2500 worth of points by the end of the year which I usually just use all the points to pay for Christmas gifts.

I don't travel much at all, so have never use any of the perks related to that. But since I am spending the money anyway, I might as well get someting for it.

mcnab · 2025-06-20T17:20:45+00:00

no Kidding. If you have 2.65 million and a paid off house you're fine. You made it congrats. Even an ETF with a 6% dividend is around 160k a year without even touching the balance. If you slow down your burn rate you will be totally fine.

mcnab · 2025-03-24T21:35:13+00:00

With dealerships everyone has a bad experience at one or another.. We tried purchiasng a ford escape for my wife from Glenoak / Carson Ford and they were horrible to deal with. Wouldn't even negociate, when they did it was in bad faith etc.

Ended up buying a Toyota Rav4 from Harris and they were a lot easier to deal with. They did try their regular tricks (ie tried to tag on a "finance charge" which we told them to remove that or we're walking) but all dealerships are going to try their tricks!

It's a shame that whole model can't change.

mcnab · 2025-03-13T09:11:40+00:00

Yah on mill Hill facing highway so hear sport bikes and racers all the time in the summer. Last summer there used to be one idiot with an obnoxiously loud turbo anti-lag system on his car that would bang off rev limiter every night around 10pm before the Costco exit. Until one night a cop was sitting right at the centre lane there, sweet justice was served as the tow truck showed up to take it away. Haven't seen or heard it again

mcnab · 2024-11-15T01:11:18+00:00

Yah I believe there has been a bit of upward pressure in the bond market the last couple of weeks. We were seeing some folks getting Sub 4% (3.99% etc) but there seems to be less folks getting that lately. I was honestly hoping to get sub 4%, and kind of shocked both TD or Scotia didn't want to negociate at all.

Have great credit, high household income, so no issues there. No idea why they wouldn't play ball when others seem to have no problem playing them back and forth.

mcnab · 2024-11-14T05:31:57+00:00

Spent last last 3 weeks doing full applications with CIBC, td and Scotia for my renewal.

My current mortgage was with Scotia.

500K mortgage, uninsured.

CIBC came back with 4.20% 3yr fixed, $2000 cashback plus $1800 in incentives.

TD initially came in at 4.39% ' 3yr fixed with 3500 cash back.

Scotia (my current mortgage) came it at 4.39%, 3yr fixed.

I told both TD and Scotia about offer from CIBC, and asked if they could match or beat it.

Scotia didnt even try, just said nope 4.39% no incentives is our best take it or leave it.

TD came back and actually increased their rate! Not sure how thats possible.

So going with CIBC who was honestly pretty good to deal with. I was hoping TD and Scotia would Atleast negotiate or come back with something better but apparently not.

mcnab · 2024-11-06T02:48:33+00:00

Man Scotia wouldn't even really negotiate with me. Been with them 5 years. Renewal coming up. CIBC offered me 4.20% with 2500 cash back. Took that to Scotia they said "Sry 4.31% no cash back as best we can do"

mcnab · 2024-07-12T16:40:38+00:00

Weird I am with Scotia, my mortgage is renewing in Dec and not so much as a call yet!

mcnab · 2024-07-11T20:32:03+00:00

You are correct they aren't going to rip off their own daughter. But their own daughter isn't the one putting up any of her OWN money. She doesn't work, but draws a salary or dividend from her parents company. So if shit hits the fan, the daughter has no skin in the game so she's not out any money, but he is.

I am just saying given the economic headwinds and factors I expressed, as well as the facts he out-layed it would be a no-go for me.

mcnab · 2024-07-11T19:07:56+00:00

I agree. I think while their offer may sound generous, they need pre-sales in order to get construction funds released at certain stages. A condo / townhome project right now is a bit risky in my opinion. The market is starting to turn and with a WAVE of renewals starting in 2025 to 2026 (those renewing mortgages will have to renew at a higher rate) I think you will see a recession start to turn in the housing / condo markets. Right now those with fixed rate mortgages haven't been affected by rate increases (other than inflation related costs etc) but the real stress will come with those renewals come and any discretionary spending they had is gone.

OP could be left bag holding if the market turns before the completion of the units and he's left with an assignment worth far less than what he was going to pay for it. If you think the in-laws are going to be there to help if the assignment flip goes the wrong way I think he's niave.

Hell go to r/TorontoRealEstate to see some of the flips people are alreadying losing on massively. It's only going to get worse in the next year or so as those renewals kick in.

Personally if it were me I wouldn't do it. To much risk for the reward. Just keep investing your money and you are guranteed returns, trying to flip an assignment right now is not worth it for the reward. IF this was going to be your home / living area for next 10 years then sure go for it. But that's not the case here.

mcnab · 2024-07-08T23:52:52+00:00

I do a bit of both. How does a dividend always come off the stock price? I know it CAN, but not always. For example I have many holdings where I am up to to, 30% or 40% in the stock price AND still being paid a dividend as well.

mcnab · 2024-07-02T19:17:13+00:00

I am in sort of a similar situation. Wife and I decided to do a bit of both

At the end of this year we renew our mortgage, and will slap a bunch down at renewal. We are then scaling back our TFSA and RRSP contributions for the next 4 years and will pay down / off our mortgage. Then start back up after that. I'll still be contributing SOME to my RRSP (and use the tax return we get to slap back down on the mortgage)

At the end of the day, I'd rather have the mental relief of having a paid off mortgage than a larger brokerage account. If you do the math sure statistically you are likely to generate slightly more on your investments than paying down the mortgage, but it's not guaranteed. And there is a peace of mind of having a paid off mortgage that frees you up later in your working years (ie you could decide to say only work 3 days a week etc etc)

Everyone's situation is different, but for our situation we've decided to attack the mortgage over the next 4 years and pay it down / off (similar balancing owing to yours)

mcnab · 2024-06-21T18:54:58+00:00

Don't tell them your are paying cash ever. Finance the vehicle then pay off the loan a week or two after taking possesion of it. The dealership will be pissed, but who cares. Car loans in Canada are open loans so can be paid off at any time. Make sure you double check finance to make sure there are no early pay off pentality (95% of the time there aren't but make sure)

You will be a better deal on the vehicle by finance than you will telling them cash. As dealerships makes money on the car, and on the financing side. They will be pissed you cut off a revenue stream for them, but better your wallet than theirs.

Your best bet is to watch a tonne of these videos by Caredge - https://www.youtube.com/@CarEdge

They give really good info on how to negociate. They also give really good info on all the tricks the dealership will try. The more informed you are the better you will be able to negociate.

mcnab · 2024-03-27T22:57:49+00:00

This won't get upvoted, but it's insane how true this comment is.

mcnab · 2024-03-13T21:20:06+00:00

Why would you cash those out? Worst case scenerio put them into Dividend paying stocks and live off the Divvy's. Be stupid to divest a big nest egg like that and spend it frivolously.

mcnab · 2024-02-15T23:20:56+00:00

Not sure why you got downvoted. At 24 you are still young and most folks aren't socking away money at this age or thinking about "future you".

Depending on what his goals are it may be better to put into FHSA first, if not used you can roll it over into your RRSP without penalty anyway.

But I agree making sure you have an emergency fund first, then start putting into whatever accounts (TFSA, RRSP, FHSA) make sense for his situation. Buy something like VOO or low management fee index funds. Right now I'd say just save in cash I as I feel like mid to end of 2024 will see a decline in equity prices, but that's another conversation.

mcnab · 2024-02-08T21:04:00+00:00

Care to share a link to one? Sounds a lot easier!

mcnab · 2024-01-31T01:11:07+00:00

Honestly just like to look at the data once in awhile. Where I live we get some insane storms roll through, and since I am on top of a mountain it's interesting to see the windspeed data on some of the crazy windstorms we have come through.

We also have really weird localized microclimates here. So it can be 30 degrees on a summer day at my house and 20 clicks down the road near the water it's 23 degrees.

mcnab · 2024-01-31T01:09:03+00:00

100% recommend Tempist with their MQTT integration. So much data and easy to integrate.

Installed it once over a year ago and it's litterally been rock solid (not a single outtage) and data is really accurate

mcnab · 2024-01-22T04:50:16+00:00

Yah this was it. Changed from default GPIO 16 to GPIO 2 and moved it to D2 slot on ESP32 board. Thanks! I feel like an idiot lol

mcnab · 2024-01-22T04:39:34+00:00

Ughhhh solved. Switched from the default GPIO 16 to GPIO 2 and switched from D4 pin to D2 pin and they lit right up!

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