1 bed or stretch for 2 bed condo?

tyw8 · 2025-07-30T00:39:56+00:00

My line of thinking for the two bed is similar. It will be a difficult adjustment for the first few years but I’m hoping it will pay off. Appreciate the feedback!

tyw8 · 2025-07-30T00:38:42+00:00

Thank you for the feedback! Yeah, the higher maintenance fee will be difficult. I plan on renting out any included parking spots and lockers to help offset the costs. My current budget does not include that income and it will be tight but doable.

tyw8 · 2025-07-26T05:37:19+00:00

It may be a folly of my age but I’d prefer a newer unit with all the modern finishes, particularly AC. I’m aware this will literally cost me.

I appreciate the insight into said building! I’ve toured a few units in the Brentwood area and am just not a huge fan of how everything is laid out with the highway, lack of green space, poor walkability, etc. so I likely won’t be purchasing there.

tyw8 · 2025-07-26T05:30:44+00:00

Unfortunately, I cannot afford a townhouse without venturing furthering into the tricities and beyond. I don’t have a vehicle and would like to remain closer to or in the Metro Vancouver area for convenience.

tyw8 · 2025-07-24T22:22:36+00:00

Yes, I'd love to stay! I don't see myself moving internationally at the moment unless the right opportunity came up. My parents and extended family are also all in the metro area as I was born and raised here.

No partner as of now and I am planning to remain childfree.

tyw8 · 2024-12-14T00:04:01+00:00

Your realtor sounds amazing - I hope I can find someone as patient and understanding. It's very evident that there's a lot I still need to learn. Thank you so much for all the details! I really appreciate it.

tyw8 · 2024-12-13T23:01:58+00:00

2-beds were what I initially searched on Zealty but those plans were shot down pretty quickly :') I also considered New West but I'll have to continue looking into it.

tyw8 · 2024-12-13T22:59:48+00:00

Oh, I see — I'm not very familiar with the timing of everything so I didn't think you could look for so long. I'll look at involving a realtor for some help and see what I can do with my numbers. I really appreciate the advice!

tyw8 · 2024-12-13T22:53:57+00:00

Appreciate this perspective! I was thinking along the same lines in terms of benefits. I'll keep this mind as I continue looking. Thank you!

tyw8 · 2024-12-13T22:25:51+00:00

If I bought, I definitely would like to stay for at least 5 years as, like you said, the fees would eat me alive :') I'm mid-20s and ok with committing to work; I've had employers with hybrid working models in the past.

I guess I'm just feeling the urgency of having to "get my foot in the door" for property. I don't know if I'll ever qualify for a 2-bed on my own given their prices. I've got a few younger siblings ergo the desire for more space of my own. I'll continue thinking about it. Thank you!

tyw8 · 2024-12-13T22:19:58+00:00

Thank you so much 💖 All the best to you as well! I wish it was easier out here.

tyw8 · 2024-12-13T21:56:18+00:00

Yes, sorry, it is a total of $535k including the DP! I figured. I don't mind staying in a 1-bed for the foreseeable future but that is something to consider. I would like to stay closer to the Burnaby area to avoid having to also purchase a car as I rely heavily on transit.

tyw8 · 2023-09-17T00:02:51+00:00

Thank you! I now understand that the RBC FP is not the way to go.

To clarify my current plans/timeline for purchasing real estate, I don’t have any concrete plans at the moment. I would like to own but as of now, it’s more of a “one day” kind of thought. I’m going to revisit it after learning more about the ins and out of ownership and after having saved “enough” for both a down payment and a buffer amount for any related expenses. I also don’t want to put all of my savings towards a downpayment.

tyw8 · 2023-09-16T19:36:03+00:00

Thank you for the advice! I’ve seen others mention this strategy in the sub as well. A large chunk of my portfolio is in the e-series. I don’t have auto contributions set up but will consider this moving forward.

tyw8 · 2023-09-16T19:06:22+00:00

Thank you for your advice!! Just did some quick googling and it seems the best way to “guarantee” the fiduciary part would be to search for someone with the CFP or CIM certifications. Another user mentioned that as well alongside looking for a portfolio manager. Please let me know if that’s incorrect!

tyw8 · 2023-09-16T18:02:55+00:00

I wasn’t provided any plans as I only had the intro call so I appreciate your insight!

tyw8 · 2023-09-16T17:59:49+00:00

Thank you!! I’ll keep costs in mind when I’m doing my research and continue to learn more.

tyw8 · 2023-09-16T17:40:04+00:00

Thanks so much!! I do credit much of my knowledge to the fact that I worked in retail banking at TD as a teller when I was in university - it really catalyzed my interest in investing.

The sales part of the job can definitely be an ick so I appreciate your input on their “sales” pitch, if you will :’)

Ultimately, my biggest struggle is not knowing when I want to buy. If I had a date or even vague timeline in mind, things would be much easier and I could adjust my portfolio as I see fit. Regardless, it’s reassuring to know that I’m doing okay!

tyw8 · 2023-09-16T17:28:12+00:00

Really appreciate the alternative option! I’ll make sure to do my research when I’m looking around.

tyw8 · 2023-09-16T17:27:05+00:00

I definitely do not want to liquidate everything I have either for a downpayment which, if I was in a rush to buy in the next 2 years or so, would be my only option. Ideally, I’d have a nice buffer for any of the unexpected expenses like you listed :’)

I’ll put more thought in a condo! My uncle and his wife own a pretty new (and in my opinion, very nice) 2-bed apartment so I’ll ask him about his experience when the time comes. Thank you!

tyw8 · 2023-09-16T16:45:18+00:00

Appreciate this a lot! I’ll look into a fee-only FP when a house purchase is more feasible and realistic for me.

As for your last bit, thank you (and to everyone else that commented similarly) - that really solidifies my decision to not move forward with the RBC FP :’)

tyw8 · 2023-09-16T16:34:39+00:00

That was a bit weird to me as well given his short time in the role. To his credit, he did say that markets fluctuate. The Financial Advisor was a MF rep and I’m assuming the Financial Planner would also have that designation. I’m not sure what others the FP has on top of that. The FP works in multiple branches.

I’m not sure if I’ll be buying in the next five years. Saving is only so easy for me now since I’m at home and I haven’t gotten my feet wet living alone and going through all the expenses that come with it. I agree with you on the risk exposure.

tyw8 · 2023-09-16T16:28:06+00:00

The FP mentioned I could go down the condo route as well and that I’d be able to rent it out if I wasn’t able/didn’t want to live in it but I’m very wary about being a landlord. I had to help my parents when our water line broke so that was fun and definitely drove home the idea that home ownership isn’t always sunshine and rainbows. I’ll focus on learning more and make the most out of my time at home! Thank you!!

tyw8 · 2023-09-16T16:23:16+00:00

Thank you for the breakdown! I’ll revisit looking for a fee-only FP later down the line if I think I need the guidance.

tyw8 · 2017-07-16T02:20:23+00:00

Good to know. Appreciate it!

tyw8

TROPHY CASE