Buying A New House... Need Some Advice, Please! | Page 12 | GTAMotorcycle.com

Buying A New House... Need Some Advice, Please!

Congrats.... You are complaining about having to deal with showings for 2 days lol, it took me 3 weeks to sell mine, imagine that crap for 3 weeks
Red_Liner740 said:
Bumpski!

Thanks for the link Shane, its been definitively helpful in determining asking vs selling price in our neighborhood and to strategize what to ask for the house.

To update the situation, Mid march we placed the house on the market, it sold in two days. Tuesday 3 showings, Wed 1 showing, everyone made an offer. We asked a bit on the high side for the area and size of the house and got withing 1500 of asking. Real Estate agent said we broke the record for 1200sf Link house in Tottenham. We also gained $82k in just over 4 years of living there, total calculated investment $12K with new driveway and countertop being the biggest $$ on the list. Washroom and kitchen were renovated by myself. We updated everything on the house other than windows. We wanted it to be as turn key and "sellable" as possible.

With that being said, i dont want to go through this any time soon. The idea of strangers walking through your house, judging you, always being on beck and call with Agents. Getting kicked out of the house so they can come and see it. Paperwork, running around. Screw that noise.

It all seems silly, but the suspense while selling a home is nerve racking, especially if you have another house lined up.
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ZX600 said:
Congrats.... You are complaining about having to deal with showings for 2 days lol, it took me 3 weeks to sell mine, imagine that crap for 3 weeks
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I know! We probably could have gotten asking if we held out but we have two cats, both are skittery and i was getting tired of chasing them to take them out of the house. One cat especially is skittery but if she sees strangers then she gets all uppity and in your face "protecting" the second floor. Like i need potential buyers battling a feline to be able to see the bedrooms.

I couldnt imagine three weeks of that!
 
Prices in east Durham are getting silly. I'm on a quiet dead-end street in a great location and at the very end there's 3 small 2+1 bungalows ~1200sq.ft.
I paid 350k for my large lot 2-story 3yrs ago. Last year one of the bungalows sold for 398k. Last week one of the other bungalows went on the market listed at 449k. If they get anywhere near that I'm going to list high and see if it sells and gladly buy some land furthur east.
 
Red_Liner740 said:
Bumpski!

Thanks for the link Shane, its been definitively helpful in determining asking vs selling price in our neighborhood and to strategize what to ask for the house.
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Glad to hear it all worked out. When I sold a condo a few years ago, it took me 6 months of showings. I lowered my price by 10K and it sold instantly!
 
Red_Liner740 said:
I know! We probably could have gotten asking if we held out but we have two cats, both are skittery and i was getting tired of chasing them to take them out of the house. One cat especially is skittery but if she sees strangers then she gets all uppity and in your face "protecting" the second floor. Like i need potential buyers battling a feline to be able to see the bedrooms.

I couldnt imagine three weeks of that!
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Your a CAT GUY!! that explains so much actually..... I tease............ sort of.

Congrats on the sale , if you can keep emotions (WIFE) on track its kind of exciting finding a new property. I had breakfast with my real estate guy earlier in the week. He was pretty confident to sell a house right now in GTA west all you need is a sign and a weekend.
 
Using the website Shane posted you can see the craziness that is GTA. 100k over asking price is not only not unheard of but happens regularly.

Heh, yea i am a cat person but also like dogs and they love me.

We already found and bought the new house. 2 acres, 1300sf bungalow with finished walkout basement, attached single garage, detached two car that ill turn into a workshop, built in the last 10 years. Needs nothing. Got it for a good price. One neighbour to the side. Horse field behind us and a horse training facility to the other side. Open field across from us.

Seems both our homes were bought due to divorces and both times we showed up at the right time to swoop them up.
 
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crankcall said:
Congrats on the sale , if you can keep emotions (WIFE) on track its kind of exciting finding a new property. I had breakfast with my real estate guy earlier in the week. He was pretty confident to sell a house right now in GTA west all you need is a sign and a weekend.
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No wonder that there's so many of them out there! And more being added every day! I thought about it but wouldn't want to get into that type of market as it's nuts competitive but that's a whole diff story.

Thanks for the link! I signed up on it and now can see how really nuts my neighbourhood is....50-100k over asking regularly in this area. Lots are 25-35ft x 115-125ft typically and prices are going for low 600s to high 700s depending on the home.
 
There's houses in the GTA that have lowered their price by 25% over time... and still aren't selling.
 
I feel I should be happy about the increase in value but I have concerns. Are they unfounded? Basically I look at the value of a dollar in the relation to the price of homes rather than an ounce of gold. Sure the house has gone up 250% in 16 yrs. but what's a dollar worth? It's not uncommon for people to work 15-25$hr. What's that going to get you?
 
inreb said:
It's not uncommon for people to work 15-25$hr. What's that going to get you?
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Not much. Not in the GTA anyway. But the thing is it's not even the monthly mortgage payments that kill you IMO...it's the downpayment. 10-20% down on a home for 500-600k equals up to 120k in cash! Don't care what anyone says that's a lot of money to save up.

Then there's the bank of Mom and Dad which help out a lot:

http://www.thestar.com/business/201...to-blame-for-torontos-house-bidding-wars.html
 
Red_Liner740 said:
I know! We probably could have gotten asking if we held out but we have two cats, both are skittery and i was getting tired of chasing them to take them out of the house. One cat especially is skittery but if she sees strangers then she gets all uppity and in your face "protecting" the second floor. Like i need potential buyers battling a feline to be able to see the bedrooms.

I couldnt imagine three weeks of that!
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Lol the only skittery one about leaving the house was me
 
defeater905 said:
Where's that? I'd like to know.
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I can send you links to some specific homes if you're really interested.
You can buy an 'Eaton' home in Caledon for almost half of what they were originally asking... which was already significantly less than it cost to build.
 
raginduck said:
I can send you links to some specific homes if you're really interested.
You can buy an 'Eaton' home in Caledon for almost half of what they were originally asking... which was already significantly less than it cost to build.
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Quick Google search shows "Eaton" home priced at a cool mil.
 
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