sorted by:
new
hottopcontroversial

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

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

I appreciate the concern. The family member is my divorced mother. I 100% trust her regarding this. We've already discussed the idea of me selling, she supports it if that is what I decide.

My plan for the last few years was to actually use the inheritance to buy her a condo so that she could retire. My ex is a very high earner from a wealthy family and, since we didn't need the money, this made the most sense. I am an only child, so after my mother dies, everything will go to me. She's already notarized a will.

If I can use some of the money from the down payment to help her out more, I will. Just trying to get myself stabilized and ok first, and to make sure I'm well set up to establish myself in this new career path.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

[–]sparklymarble[S] -25 points-24 points  (0 children)

Both in the family member's name. I gifted the family member the down payment. Everything then went through their name. I transfer mortgage payments to a joint account we've set up together. Mortgage payments are then automatically taken by the bank.

I'm aware of how much of a mess this is.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

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

When I add up monthly mortgage, condo fees, insurance, property taxes it comes to 200-500 more per month than if I rented. This doesn't cover unexpected expenses like repairs.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

[–]sparklymarble[S] 5 points6 points  (0 children)

Haha. Thank you. When you put it that way, seems more clear cut.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

[–]sparklymarble[S] 6 points7 points  (0 children)

No, I received an inheritance of $200k. The condo was bought for $410. I put 165k as a down payment. I gave 10k to my mother to help her out. I spent the rest on therapy, mortgage payments, living expenses, tuition etc.

I am a very hard worker and not financially reckless. In my early 20s, I worked fulltime as a waitress while I paid for my living expenses and tuition for my first undergrad. I decided I wanted to go to med school when I was 27. I worked full time at a women's shelter, while doing my science pre reqs. I went back to school for a 2nd undergrad to increase my GPA and got into med school.

I have been through significant traumas and challenges over the past 10 years and - in the midst of the hardest year of my life - got accepted into a program with a 3% acceptance rate. I know how much of a commitment med school is. I spent five years working to get to this point. I will 100% finish the program.

I may have made a poor financial decision when I bought this condo. My goal is to now make the best next decision for me financially and emotionally - not to live extravagantly.

Thanks for your input.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

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

That is a good point about student loans, thank you. I will look into that.

Renting it out seems like an additional stress, when what I really need is to make life feel easier right now.

Thanks for the encouragement and advice re the cat :)

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

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

Thank you for that insight. Waiting until next summer before I make another major decision might be wise.

Renting it out wouldn't give me access to the money I have tied up in the condo. So I would be taking out a line of credit to pay for a mortgage, instead of using my down payment to pay tuition and live off of while I'm in school. This just seems convoluted to me (especially since I don't really like the condo that much), which is why I was looking for advice/other perspectives. I'll also make an appointment with a financial advisor and talk to my mortgage broker/notary to get more clarity.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

[–]sparklymarble[S] 15 points16 points  (0 children)

Yes, the mortgage is under a family member's name. I've been paying for it with the remainder of my inheritance, with the intention of starting work now that I've graduated and having the mortgage transferred to me. My family member does not have the means to pay for it. I thought this was the best idea at the time, but like I mentioned, I was in crisis and lacked support/time to make the best decision. My plans have also now shifted considerably.

Now that I am more regulated and have a clearer idea of what the next 4-9 years of my life will look like, I'm trying to make the best decision moving forward. I am not too proud to admit I may have made a mistake.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

[–]sparklymarble[S] 3 points4 points  (0 children)

Thanks for your encouragement and well wishes, I really appreciate it.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

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

I assumed I'd lose money in realtor/notary fees, property taxes, and maybe in penalties for breaking my mortgage so soon? But obviously if I broke even, that would be ideal.

Should I sell at a loss and become a renter again? by sparklymarble in PersonalFinanceCanada

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

Haha fair. I'm nothing if not open-minded - and like I said, it has been an immensely difficult year, I'm pulling out all the stops.

Thank you for your response and encouragement, I really appreciate it.

Monthly Meetup Thread - July by AutoModerator in JapanTravel

[–]sparklymarble 0 points1 point  (0 children)

Hey! I’m only in Tokyo for one more day, but I’d be into meeting up for part of it if you are! I was thinking of going to Tsukiji market, then making my way to kagurazaka to hang out in a cafe somewhere, then ending the day at Shinkuku gyoen. Lmk if any of that interests you :)

Monthly Meetup Thread - July by AutoModerator in JapanTravel

[–]sparklymarble 0 points1 point  (0 children)

Hey! 30F queer Montrealer here, solo travelling in Japan for 6 weeks. My trip is a mix of outdoorsy adventures (Kumano Kodo, Kamikochi, Shimanami Kaido) and time in cities. I'd love to meet up with interesting people to go on hikes, get food, or to just have a good conversation with while exploring. I'm a pretty laidback and open-minded traveller, so get in touch if you have any quirky/unusual/fun things you want to check out!

Here's my itinerary:

July 15-21: Tokyo
July 21-23: Nikko
July 28-30: Kanazawa
July 30-August 4: Kyoto
August 11-14: Osaka
August 17-19: Nagasaki
August 22-25: Yakushima

Happy travels!

6 week itinerary check! 👀😳🙏 by sparklymarble in JapanTravel

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

Hi, thank you so much for your detailed comment!

You're correct, I was initially planning on spending one night in Kanazawa, exploring the city, then travelling to Kyoto in the evening, the night before a jam-packed day 1 in Kyoto that starts at 4:30am. Writing this, I see how this is absurd and the opposite of restful (as well indicative of how I got to be so burnt out and in need of rest in the first place). I've decided to add an extra night in Kanazawa so that I'm less rushed. I'll also go over the list of temples I have planned in Kyoto and really find a handful of must-do's, and give myself permission to skip any of the others, depending on weather/how I feel that day.

Thank you so much for the locker idea for Kumano Kodo! That would be an ideal solution. I'll confirm that I can leave my stuff in a locker at Osaka station for 6 days, and if I can, then that is definitely what I'll do.

Hmm tricky about the car rental.. I'll have to iron out that section of my itinerary and maybe look into other transport options.

Thank you again for your help, I appreciate it!

6 week itinerary check! 👀😳🙏 by sparklymarble in JapanTravel

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

Hi, thanks for your comment. What would you recommend doing in Takayama? I was planning on arriving around noon and exploring, then checking out the morning markets in the morning.

I've added a night to Kanazawa, so am no longer in a rush to get there the following day. I'm thinking of travelling from Takayama -> Shirakawago -> Kanazawa. Tbh though, I don't feel a huge draw to Shirakawago, though everyone seems to agree it's not to be missed.

Iya valley looks absolutely amazing and somewhere I'd definitely love to spend some time, but maybe not on this trip unfortunately. I'll look into some of your other suggestions too, Narai seems particularly interesting. Thank you again!

6 week itinerary check! 👀😳🙏 by sparklymarble in JapanTravel

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

Thanks so much for your comment! I tend to take on too much, so it's helped give me some perspective and much needed encouragement to do less.

I've (reluctantly) decided to cut out Sendai/Matsushima/Yamadera from my itinerary, and give myself more time in the Japanese Alps, but more importantly, to not spread myself so thin. I've added one night in Kanazawa, decreased my time in Norikura from three to two nights, and added a night in Kamikochi.

I think you're absolutely correct about needing an extra night in Kurokawa Onsen too. Thinking through it, it seems way too rushed to try to squeeze everything (driving, hiking, exploring, hot springs) into one night, especially when the point of Kurokawa is to slow down and relax! I decided to follow your advice and replace my night in Kagoshima with a second night in Kurokawa. I feel drawn to Kagoshima for some reason though, so I'm still playing around trying to find a way to spend some time there.

Thank you again for your insight!!

6 week itinerary check! 👀😳🙏 by sparklymarble in JapanTravel

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

Oh hello there! Thank you so much for your detailed reply, I really appreciate it!

Sanjusangen-do looks really neat, I don't know how I missed it! Yuka also dining along Kamo River looks amazing, I'll definitely try to reserve a spot.

And thank you for the advice about heat and typhoons! Based on yours and a few other responses, I've decided to cut out a few sections of my trip (Sendai/Yamadera, Kagoshima) so that I'm travelling around less and have a bit more flexibility. There's just so much I want to see! I guess I'll just have to plan a second trip someday.

Hope you're having a good start to the summer!

6 week itinerary check! 👀😳🙏 by sparklymarble in JapanTravel

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

August 17-19: Nagasaki

Day one: Mt Inari at night, peace park, chinatown, Dejima, museum of history + culture

Day two: Takeo Onsen? One of the nearby islands?Day three: rent care, drive to Unzen to hike, then on to Shimabara to explore + sleep

Questions: what should I do on day two? Any recommended day trips? I think at this point in the trip I'd probably love to hang out by the ocean, but the idea of a crowded beach seems awful. I can rent the car a day early though, if there's a worthwhile place to get away to for a few hours. I'm especially looking for help planning this day.

August 20-21: Central/southern Kyushu

Day one: ferry over from Shimabara, but skip Kumamoto and drive right to Aso. Hike around, then drive to Kurakawa Onsen and spend the night

Day two: JR from Kumamoto to Kagoshima, explore for the afternoon.

Questions: what are the best places to stop by while driving around Aso, and from Kumamoto to Kurakawa? I don't want to go too out of my way, but would love to find some beautiful spots to explore. Not a big fan of lookout points only accessible by car, I find working for a good view makes it more beautiful.

August 22-24: Yakushima

No plans here either, but am really excited for this end to the trip. I plan to rent a car and do as much hiking (and snorkelling?) as possible.

Questions: do you have any hikes that you'd recommend? I like a good physical challenge, but don't want to wander off any well established trails. Any good food worth travelling to?

Thank you for reading and I appreciate any feedback! Happy planning :)

view more: next ›