How we Bought 2 Homes in 2 years in Canada l Buying multiple homes in Canada l Part-1 l Our Journey
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- Опубліковано 28 вер 2024
- So we completed one month of our UA-cam channel today and to show our Gratitude to our viewers, we have come up with one of the most requested topics, HOW WE BOUGHT TWO HOMES IN CANADA IN 2 YEARS..
Yes, we bought our first home in Canada in May 2019 and second home in May 2020. What strategies we used, what challenges we faced and what mistakes we did could be useful to you when you are on your journey of Home buying in Canada.
Our first house is in Brampton, Ontario and second in Caledon, Ontario ( Greater Toronto Area).
The link of our both house tours are below:
The house tour which is on Airbnb: • CANADA House Tour - 3 ...
Tour of the Home we live in : • HOUSE TOUR of their 2n...
Our Monthly budget video : • Cost of living in Cana...
My Insta Handle: chitchat_with_shilpa
Love,
Shilpa
I have watched nearly 40 videos like this.
But this was the most informative video.
Hey Thank u so much....
Informative? I don't understand a single word they are saying.
Ok maybe you don't understand the language they are using.
@@alenac.3934 May be you haven’t buy a house yet
@@chitchatwithshilpa hey Shilpa is it possible to have a one on one chat with you directly? I'm a doctor by profession and have a Canadian PR but licensing is a big problem so could you please guide me as to what I should do in the healthcare system? Thank you
Good to see you guys pulled off your second home after a week of stress and crying. People aren’t able to get their’s first no matter how much they try. Because someone somewhere wishes to buy third,fourth!
PS: I own one home :)
Shilpa you have fantastic speaking style I think it's sure natural
Cause of peeps like this, the interest rates has gone up tremendously. Hope all the markets go down as predicted, cause bragging on internet has became a trend these days
The better your vibes, the luckier you get :)
True...
I love the way you speak Shilpa... Specially the way you use your "s"🤩.... Please keep the good work going.... Please also make a video on how single women ( unmarried, divorced, windowed or separated ) can come and establish themselves in Canada.... How will they feel empowered,how the government supports them, how they feel mentally relaxed after being in Canada....How is the work atmosphere..Career graphs of women.... Owning a house as a single lady.... Interviews of a few well established single women.... Cultural acceptance of Canadians for the other cultures.. Such content will help a lot of people who are seeking the silver line in the current circumstances.... Thanks a lot 😁
The way she speaks the words with ‘s’ sound , makes her conversation interesting... I like it 😎😊😌
Haha...this is strange...i get trolled and complimented at the same time for same thing 😀
Don't forget those angels who have helped you guys in with finance, very few people have that type of family & friends 😘
I came to Toronto in 2009 with 2 toddlers and bought first 3 BHK condo with 2 washroom in 20 days of landing. We also came from Dubai. In second year, we bought detached house, then we bought our car. In 2016, bought 2 more properties and sold all condos in 2018,2019 & 2020.
This is like quick brown bag sort of session on how to invest well and fast.. for very specific audience who are very stable with their finances and careers.
Really ramped up super quick on you skills as well.. kudos !!
Obvious topic for next video (Brown Bag :D) how to Airbnb your place and manage it.. look forward to watching it !!
Thank you for appreciating the video...will make airbnb video soon..
Your way of speaking and explaining the real estate is quite impressive. Thanks for sharing this. And congratulations for your house purchases..well done 😀
Subscribed your channel lately, and watched each and every vlog. I truly believe that you'll reach 1 million soon and you'll become full time youtuber soon. These vlogs are really helpful for the new immigrants. Thanks 😊
Thank u so much for ur encouraging words...appreciated..
@@chitchatwithshilpa Ma'am, just a small request. please make a video on high demanding jobs in canada, salary, courses required to enhance our skills. I've watched many videos of other youtubers but couldn't get a clear picture about it. Since you and sir have been living in canada for the last 3 years, you can provide proper guidance.
Yrrr bht confident ho ....
Your way of explaining to real estate issue is very impressive .Thank u for that
Exact reason why market has crashed. and will keep on crashing. This idea that Canadian Real estate keeps going up made people live beyond their means. Seeing your idea has convinced me even more that so many homeowners who took out a second mortgage will get screwed. Maybe not you, if you have planned well. But Gosh Canada is in so much trouble.
U are now quite comfortable while presenting in ur vlogs ....as it seems u r making videos since years.
You people are very good financial managers. Very nice to meet you 🌷🌹💐
Hope I can get some adice from you if needed😁
Sure...Anytime..
@@chitchatwithshilpa Thank you so much 🌹🌷
You guys good. Canadian real estate market is crazy now.
Hi shilpa ,very well explained
You have amazing speaking skills
I have heard this exact story from another friend here. Basically this is something the Realtors are not letting people know and putting them in a difficult spot.
You should thank Dubai for not collecting any taxes. For ppl who come directly to Canada, they never have $120,000 savings for their 20% down payment and then get trapped into vicious mortgage cycle + CHMC fee. Our elders always use to say that it’s always the first 100K, that will be most difficult to make, which you did in Middle East. So the hard part was done there. Once you have that seed money, any plant or two can be grown from that seed money. Ppl who come to US or Canada first instead of Middle East are never able to save that seed money because of extremely high taxes and will never be able to mortgage 2 houses in Canada or USA immediately after migrating here in 2-3 years. You should make video to encourage ppl to share all the hard work you did in Dubai to make the seed money of $100K. Anyone can make money after that, once they have that seed money 💰 . So I congratulate you for all your hard work in Dubai and also congratulate you that Dubai did not taxed you for all that hard work you did in your younger days. Internally everyone knows that you were cash rich in Dubai but now you have accumulated $1.6 million Mortgage Debt In Canada within 2 years. Hopefully you will be able to pay that off soon. All the best 👍
Hi Harpreet, Thank u so much for taking out time and write the encouraging comment...Yes, u r right...we were cash rich in Dubai, saved down payment there and are always grateful for Dubai...we have already made a video about our struggles 'Our Life inspires Us' I hope u will watch this video and appreciate it....we have also been featured in Ravish Vlogs in the channel Dubai Vs Canada series...where we have told all the pros abt Dubai and how much we loved living there....but again..I believe one should love the place one lives in...Mantra for a happy life 😀
@@chitchatwithshilpa Thank you Shilpa ji. We all love Canada 🇨🇦. It’s freedom, it’s natural beauty. However Canada’s financial system makes most ppl trapped in Debt rather than make them Cash rich. And Mortgage ( Mort = Death 💀, Gage = loop around the neck) is #1 reason for that. So we need to educate our immigrant brothers and sisters on attaining that seed money plus educate them how not to get trapped in this financial mess. It seems your video was encouraging ppl and suggesting that it’s ok to be in 1 or 2 million in Debt. Can you and your partner please make video and showcase ppl how to have 1 or 2 million surplus in their bank accounts in Canada / USA? That will definitely inspire lot of ppl and they will thank you for this lifetime and for their so many generations to come. 🙏🙏🙏🙏
@Sanjay B if borrowing $50 k for a month seems unreasonable to buy a property, then probably most of the ppl can't buy any as everyone needs some support for unforseen expenses...we had 20% down for both our houses and needed some support for a month as our investments in other funds need some time to get in hand..anyways the purpose was to give an idea to ppl abt refinancing and sharing our journey, not to promote buying multiple properties...everybody has to see their finacials and planning and think logically....u can take away the good u like and leave the rest...obviously banks also see 100 things before handing over the mortgage and if mortgage seems unreasonable, one has choice not to buy or sell the homes....
You guys are such a Pure Soul.
God Bless You
Hello Mam
I really like your channel.
Your voice ur way of interaction, your husband is also ground to earth
Thank you so much 🙂
Such a wonderful journey you guys have and what a amazing piece of priceless free information 😁
Thanks for sharing this...
Many ppl can't see other ppl growing!
Hey guys... Thanks a lot for the valuable information.
I have a request, can you guys make a video on refinance process and how much money u get in the hand dor yourself?
We have another video on channel on the same topic with detailed explanation.
So nice if u guys sharing info so transparently.
Thank you for being so upfront
Thank you Shilpa for sharing very useful tips!!!
Awesome content guys and congratulations on one month anniversary. Many decades to come! 😊😊
Is it a right time to buy a house in Canada hot market? or do you guys think it is a bubble that is going to burst soon?
We are hearing about this housing market bubble since the day we landed in 2018...that it will burst soon....to be true, it only got inflated...The elders say that right time to buy property is Today...else, we r no experts n its a big decision to make...my personal opinion is that housing market might get stabalized for few months before rising again but won't be crashed...as far as there are new immigrant influx in the geographical region of GTA, the demand will always be higher than the supply...the main reason for this bubble....
@@chitchatwithshilpa Thank you for sharing your honest opinion. Really appreciate it.
Guys you both very Spritable
God bless u 👍
Hey guy the info your mortgage guy provided is not really correct!! You can always buy a second home or maybe third or fourth too with less than 20% down and bank can always consider your existing property as a rental by doing a fair market rent and new as a primary till the time your income supports that mortgage based on 25yrs amortization on stress test. Totally depends how efficient your mortgage person is to structure the deal before presenting. As you bought both properties in brampton and was upgrading it was for sure possible. I don't comment alot but thought of sharing as you are an investor like myself being in the country for a short period able to buy multiple properties by taking advantage of the equity. Thank you
Well, thats an interesting information...I will definitely cross check..thank u for ur inputs...
you took a gample with real estate and you won big.
Many Many Congratulations 🎊 👏 ... Could you please make a video on Medical Coder job?
Congratulations Dear Sir and Madam ji 🎈 for one month's I prew god
very nicely you have shared your experience. Thank you for the detailed information
Your video is so valuable. So many Indian pay deposit and then bank refuse to give mortgage.
You guys r lovely
You didn't mention that 50k loan was not disclosed to the bank and gift letter was used to cover up the loan. 😀 just joking , very good achievement within short span
it was not a joke. 😄 fact and tax implications
Do you need to be canada residence to buy property there?
Not necessarily but then u might end up paying 15% extra tax being a non resident in some parts of canada
@@chitchatwithshilpa thanks for reply
Did Ravish supported at that time in finance!
Really appreciate your efforts 👍 I want to understand the appraisal thing in detail can you pls share any link or can you explain what does appraisal means in detail as in how does it helps the owner unless he or she wants to sell that property. Sorry I might be sounding too dumb 🙃
There is another video on our channel on the same topic.. "How we bought 2 homes in 2 years Q&A ".. Please check that video. Thank you.
So sweet of you😘
Congratulations....👌👌👌 All the best......
How did your realtor didn't tell you this about the second house?
You guys are already millionaire!!..cool..
Thanks for sharing!
Refinance the House Loan from Bank, Go for 2nd house,
I came here from ravish sir blog thumbs for knowledgeable videos. 👍
Another great video, but one thing you both look like father daughter Shilpa you're so well kept 😉
Hi shilpa how are you. I lived Gujarat (ahmedabad). I regularly watch your video. I like very much. Lovely video. I also see your jija's ravish video. I like very much. I want see Canada. Please explore the video of outing. Love you all. Love you myra.
Yeah..Weather is getting better here now...will soon make outdoor videos..
I was not aware if house value increase in area and bank accept then they return u difference like 6.5 to 7.5 ( 1 lac bank return to u? Its huge saving in a year, so the question is, can we return this amount to bank and ask to adjust in mortgage? Like u are paying morgGe on ur 5.12 lac cad ?........I m from edmonton
How stupid can you get . . .
Always apply after purchase first house HELOG CARD.
Hi Shilpa just a question ...i remember u guys bought a hyundai TUCSON .... how is the suv ? please advice ur reviews , im planning same. thxx
🙏🙏🙏
Love your videos !
Very smart couple
Really impressed shilpa 🎩 off U 🙏🙏
Thanks
Thanks for all information
Mortgage amount was 512k CAD. House value change to 750k CAD. Re-financing gave you 100k not sure how it was wise as you lost over 100k CAD technically.
It was not lost..it was our equity built in the house…
Could u please state if there was a change in your credit score after taking home loan. If yes, then by how much?
Yes, the score dips every time you take any credit. It was a dip of around 30 points but recovered in next 3 months.
Great vdo guys....good info.
Can you swap the investment property which has a lower market price as the first house would require 20% of 750k which is 150 and u had 140k. Just trying to understand the legal implications from banks perspective.
Why not make a video what is the difference between Airbnb vs rental
Good idea..will make it..
Almost 2k ... Yeayyyyyy❤️❤️❤️❤️
Thank u for the support in reaching 2 k...yeayyyy..
Awesome... very informative
I have the option to refinance . But I am so scared to do it .
This video was made more than 2 years ago..so some things could not be relevant in today’s market
You guys bought the prime residence jointly?
If yes, what if you had bought both houses individually?:)
Down payment kya hai
Aur Mortage Eligibility kya hai please explain
Its the conventional mortgage, the down payment is 20% and the mortgage duration is 30 years.
You guys makes very motivational vedios
Hi Shilpa, great content 👏🏽
Quick question, how do you manage AirBnb , do you have hired a property management company? How do you do cleaning after every stay?
stopped doing airbnb almost more than an year ago because city rules changed…we were managing it of our own with the help of a cleaning staff
Kon he wo Angel ? 🥺
Ravish ?
Very nice & Informative Video
What is the price of Detached house today?? And how to contact agent?
Superrrrrrrrrrrrrrrrrr thought dear ❤️
Its beautiful sharing stay connected 🙂
Please sister when you see my coment give me advice how can I came to Canada I'm waiting your ans..
Hi Taimour, we came here through Express Entry program and we didn't hire any consultant. For you, it might be different and you may need any ICCRC licensed consultant. Good luck 👍
Finally I believe that only truck drivers don't have multiple houses in canada
Kya me family ke saath canada shift ho sakta hu or isme mujhe kitna money or time cahiye
Informative. Thanks.... after how long you can ask for refinancing ?
Whenever u know that ur property prices have gone up..like keep an eye on sales prices of ur neighborhood
Full time job, Good Credit score, Detached House, Basement
If i buy something at Walmart for $5.37 and I give the cashier $10 bill and if you ask me, how much change will I get back, I will commit suside (however you want to interpret it) because i cannot calculate. my math is that fkd.
you guys are cute and good with numbers, that's what brought you to where you are today I guess.
My friend purchased a townhouse a few years ago, and her property value has gone up very well too, not in gta though. So what you said is right, values are going up no matter what you own, even if it's a tool shed.
loving your vlog guys. keep up the great content. I don't watch netflix anymore. I like channels like yours. so much infotainment and value addition to one's knowledge bank.
i see so many people making videos saying 'file your own pr application, don't use an agent'. but please don't destroy the life of agent, some people rely on that profession too
Wow...quite informative video. I am curious to know how Dubai investors can invest in Canada
They can invest as foreign investors but to invest in some prime cities, they need to pay 15% tax..for some suburbs and outside GTA, they don't need to..
Is that only PR guys are eligible to buy house in Canada or student visa holders could also buy that
it would be nice if you add English subtitles
*Dono house ka total mortgage kitna pay karte ho ?* *or Aap ki income kitni hey?*
37% of our net income goes in the mortgage payment for our 2 houses.
Good informative video..
So sweet family 💞💞💞😍😍😍
Now because of you guys mere dimag main kida kata hey.
Acha keeda ya bura keeda 🤪😝
It is a good information you are sharing here but truth is because of people like you, the housing prices are going crazy in Canada. And it makes harder for first time buyer who don't have such high budget.
Housing market Depend on jobs market and interest rate How long Canada govt can support free money Bank of canada wants affordability in housing
Hi Garvit, there is no free money for anyone.. Govt. programs are meant to provide support in order to keep the economy running. This support is from the tax payers money and for the tax payers only.. Housing market is on fire coz affordability is increased not only because of low interest rates but also because of the savings people were able to make during pandemic by staying at home and avoiding unnecessary expenses.. Demand and Supply definitely plays a vital role.. 🙂
Hi my son resentilly on work permit and he li ev in Windsor. Can he buy house in windsor
Great
Congratulations on 🎉🙏
Mai chahti this ap bhi channel banao jab se apka Dubai wala video dekha tha 😊
Mai Dubai me rahti hu 🙏😄
Have any chance sir and mam ....becous u r bothe doing work HR position .....hm jaise ke liye bhi koi lowest job bataen ....im from india bt now working in qatarr
Nice video good information
Hi ma’am. Your video is very inspiring that I watched three times since I also want to buy first home in canada. I want to ask you that how you qualify for your mortgage second time ? Is that according to your job profile or anything else ?
Jobs + Rental income from first house
@@chitchatwithshilpa thank you so much 😊
Is airbnb a safe business for a side income
It’s safe and legal if allowed in ur city
Conditional bid ki full detail bataye na ?