COVID and the housing market | Page 33 | GTAMotorcycle.com

COVID and the housing market

Trials

Well-known member
again you city folk, it was just a wagon
Ya mean a Waggin? 🤠

I am city folk, I married country.
Ever visited a friend to find out their idea of running water is a cast iron hand pump sticking out of the warsh basin counter top
& Hot watter is on the side uh that thar wood stove. Need to pee, that's out back.

Help them take the cover off the well right after a cup of tea and see 10 water snakes drop into the water.
 

GreyGhost

Well-known member
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Ya mean a Waggin? 🤠

I am city folk, I married country.
Ever visited a friend to find out their idea of running water is a cast iron hand pump sticking out of the warsh basin counter top
& Hot watter is on the side uh that thar wood stove. Need to pee, that's out back.

Help them take the cover off the well right after a cup of tea and see 10 water snakes drop into the water.
My grandmas old house has a cistern and they didn't take out the cast iron hand pump 100' from the house until 1990 or so.
 

nobbie48

Well-known member
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If he could get away with a house with no special accommodations, 800k invested and renting for 2k a month is not a bad place to be. Should be able to cover rent with investment return. With his wifes situation, I dont know if that is a viable option. I would probably keep the house to keep my life simple. I wouldnt want to add more crap to my plate.

Sometimes better the devil you know than the devil you don't.

People have unknowingly moved to neighbourhoods from hell and regretted it but sometimes one doesn't have the choice in a move.

People can wait too long. Then they are suddenly forced by circumstances to move and some social service crams them into the first available cage. Once there, they're stuck. Plan the move when you still have the option of turning down inappropriate places.

At some age renting is a good choice. It simplifies estates and makes future adjustments easier but for many the capitalistic concept of ownership is hard to shake. If I hold out another year I could get another $100 K.

Future planning around health issues is the proverbial nailing of jello to a wall. A thousand "What ifs" to be considered. If the person with health issues is uncertain or confused it's even worse.

Multi generational homes are heaven if they work and hell if they don't. There needs to be the right mix of space and personality. Granny flats or equivalents have a lot of potential but there are too many hoops to jump through.
 

mimico_polak

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Multi generational homes are heaven if they work and hell if they don't. There needs to be the right mix of space and personality. Granny flats or equivalents have a lot of potential but there are too many hoops to jump through.
Our MIL lives with us and it’s great for the kids and us as she helps out a ton. Our waist lines show it too.
If my mother moved in, while I love her very much someone would die in this house, or there’s a divorce in the very near future.

Id probably move to the cottage permanently and just commute from wasaga! Or get a camper.
 

bigpoppa

Well-known member
for all the folks discussing selling their houses in the GTA, its real easy to get out of the GTA market, almost impossible to get back in, in even a year or 2.

In todays market even a dump anywhere near the 401 or a GO train line will have a bidding war and sell for 100k over(seen it)
 

george__

Well-known member
I've found rents to be about the same province wide, your mortgage payments vary depending on where you own a house though, in sudbury its cheaper to own than to rent, in toronto...its the other way around

I disagree.

Look at how insane rent is in Cambridge.

Edit - If you are just starting your career, wouldn't it better to just go to Toronto and make Toronto salary levels ??
 

mimico_polak

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for all the folks discussing selling their houses in the GTA, its real easy to get out of the GTA market, almost impossible to get back in, in even a year or 2.

In todays market even a dump anywhere near the 401 or a GO train line will have a bidding war and sell for 100k over(seen it)
Friends sold their house years ago because they were smart and we’re going to go on vacation for a few months and buy a house with their equity. That was 5-7 years ago and they still can’t get back in the market. So they kept renting and travelling. Doesn’t sound bad to me.
 

GreyGhost

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I disagree.

Look at how insane rent is in Cambridge.

Edit - If you are just starting your career, wouldn't it better to just go to Toronto and make Toronto salary levels ??
I'm not sure if they are the same, but rent more closely mirrors income than house prices. Pick a town with lower average income and rent should be lower. Greater GTA gets screwed up as so many people are willing to spend half their day commuting which matches up toronto income with cambridge houses.
 

george__

Well-known member
I'm not sure if they are the same, but rent more closely mirrors income than house prices. Pick a town with lower average income and rent should be lower. Greater GTA gets screwed up as so many people are willing to spend half their day commuting which matches up toronto income with cambridge houses.

Ah so it could be all these tech jobs in KW increasing the rent up and up and up and up
 

bigpoppa

Well-known member
Friends sold their house years ago because they were smart and we’re going to go on vacation for a few months and buy a house with their equity. That was 5-7 years ago and they still can’t get back in the market. So they kept renting and travelling. Doesn’t sound bad to me.

no kids I take it?
 

nobbie48

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I'm not sure if they are the same, but rent more closely mirrors income than house prices. Pick a town with lower average income and rent should be lower. Greater GTA gets screwed up as so many people are willing to spend half their day commuting which matches up toronto income with cambridge houses.
The government says it costs about $0.50 a kilometre to drive a new car. Live in the city, no car costs and save a bundle if you have the serious down payment. Work three hours part time making money instead of paying to drive it.
 

backmarkerducati

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for all the folks discussing selling their houses in the GTA, its real easy to get out of the GTA market, almost impossible to get back in, in even a year or 2.

In todays market even a dump anywhere near the 401 or a GO train line will have a bidding war and sell for 100k over(seen it)
It only makes sense if they fit into one of three options IMO:

1) Retiring/Retired and they do not need to work in the city.
2) Have a very portable career/trade and they can find another good job in the new location or something like FIFO.
3) They just have a non-skilled McJob (not a career/trade) where they can just work wherever/whatever.

Anyone with a career and/or trade that is specialized enough that the jobs are mostly in the city is shooting themselves in the foot as their current WFH may (will) not last forever for many reasons, pretty much all out of their control.
 

blackcamaro

Well-known member
for all the folks discussing selling their houses in the GTA, its real easy to get out of the GTA market, almost impossible to get back in, in even a year or 2.

In todays market even a dump anywhere near the 401 or a GO train line will have a bidding war and sell for 100k over(seen it)
Agreed. I would be in this boat one or two years down the road since moving somewhat North a few months ago. I know I have to be careful and not blow what I'm saving on my mortgage and make sure I save/invest the difference otherwise this move will set me pretty far behind vs just staying where I was.
 

backmarkerducati

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The government says it costs about $0.50 a kilometre to drive a new car. Live in the city, no car costs and save a bundle if you have the serious down payment. Work three hours part time making money instead of paying to drive it.
I strive for $600 per month on average per car when we actually use them to commute etc, COVID numbers are lower as we are not driving (all in, gas, parking, maint, payments, ins, deprecation, everything.....) and that takes some work to hit and not drive a total POS. It is also after tax, so call it $1000 income per month before tax, depending on bracket.

Family with two cars, 1200 per month after tax (14.4K per year), or 24K of before tax income! Fancy SUV or minivan, bump it up....

Many will argue it does not cost that much until they record everything and add everything up and find out they actually spend way more.

Motorcycles are obviously completely exempt from such mathematical nonsense.
 
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Trials

Well-known member
City of Toronto is a great place to find work, make bags of money and spend every bit of it just to live there. Hospitals and well stocked stores are always in walking distance, public transit readily available, people living on top of one another. If you are into that kind of retirement, go for it.

Here, I have options, I can go to one of several hospitals in any direction, it makes little odds which direction because they are all more then an hour drive and I am likely to expire on the way there. Fire department :ROFLMAO: not sure, best not to need one from what I have seen. Garbage collection, costs 2 bucks a bag and it's a 25 km drive to the north east. You have to pick the life style and location that suits your current needs
Cool! there goes an Otter
 

GreyGhost

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I strive for $600 per month on average per car when we actually use them to commute etc, COVID numbers are lower as we are not driving (all in, gas, parking, maint, payments, ins, everything.....) and that takes some work to hit and not drive a total POS. It is also after tax, so call it $1000 income per month before tax, depending on bracket.

Family with two cars, 1200 per month after tax (14.4K per year), or 24K of before tax income! Fancy SUV or minivan, bump it up....

Many will argue it does not cost that much until they record everything and add everything up and find out they actually spend way more.
My wifes last job had her driving 60K km a year for work. She didn't want to drive standard so instead of my diesel she drove a gas-guzzling suv. Her car expenses for the year were ~$20K. Thankfully she got mileage to roughly offset that number. I wasn't keeping track monthly or I probably would have had her buy a new car to save on fuel.
 

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