➡Sign up for CHEXY here to start saving thousands $$$$💵on your next rent: app.chexy.co/?redirect=/ It's simple: Pay your rent using your credit card. The money will go into your 'Chexy Wallet', and from there Chexy will pay your rent to your landlord, through interac e-transfer or PAD (Pre-authorized Debit), your choice!
1. Pay rent with credit card 2. Winter search means lower rent 3. Downsize living space 4. Roommates 5. Live on edge of city, near transit 6. Walk-out basement >Saved you time, like so more people see.
Something I have noticed about a lot of basement apartments is that they often don't have windows large enough for egress that would pass a fire safety inspection. There are lots of illegal units like this... it seems very hard to find anything for less than about $1500 to $1600 that would pass fire safety. You have good advice here, though!
You're right, there are a lot of crappy basements, and it's really hard to find a legal basement that's liveable, comfortable, and most importantly not as expensive as a regular apartment (defeating the purpose). Thanks!
@meg7578 and what's the likelihood of that happening..?? Like 0? It's obvious the city doesn't care to enforce the law. Makes more sense to rent one of these suites for some years, save up to buy your own home
Be careful when renting a basement suite around the GTA. There's a chance it can have high radon gas levels (radioactive gas) which can cause cancer and other health issues. I'm not saying do not rent a basement suite, but just double-check it has proper ventilation and airflow.
Just lay in bed all day to save money on expensive groceries. Just wake up and eat some raw eggs with banana smoothie and then go back to bed. Repeat until death. Maybe take a smoke break too.❤
Your advise is so Down-to-earth and SOUND! As a 20?year Realtor, Like YOU , wish that investment education was taught in Grade School-how less dependant on Government we’d all be. Thanks for the effort on your vids; very good quality.
The S&P500 (one example) has returned about 10-12% on average since it's inception. So if you invest in an index that tracks the S&P500, like the VFV or VOO in Canada and hold it over the long term, you have a good chance of earning that on average. Of course, there are never any guarantees, but that is what history has shown
You have a decked out camper van eh? Solar panel, heated, kitchen? A bucket to evacuate your pizza pops? Are you in a trailer park or sleeping in a Walmart parking lot?
I think you missed an incredibly important one and that is to only look at properties that fall under rent control guidelines so you’re rent won’t be increased each year above the maximum limits set by the LTB in Ontario.
Be consistent! In Hack 3 u mentioned that u moved to a small apartment with ur husband while in Hack 4 u say that u r single! Inconsistency is the sign of dishonesty.
Hi, I checked Chexy and it charges 1.75% when using a credit card so it is not entirely free, unless you use a Canadian Debit, which says $5 dollars but seems to be free for now.
There is a processing fee. So to benefit from it, you'll need to use a high-reward credit card, ideally a 4% cashback card. That way you'll earn the 2.25% difference
@luthfunnaharlizu2498 Scotiabank's visa momentum infinite gives 4% cashback on groceries and recurring payments (including rent). Yes, there's a 1.75% fee, so I'd recommend to look for a card with at least 3% cashback to get a net reward!
I really like their Visa Momentum Infinite card (I'm not sponsored by Scotia btw!) because it gives a 4% cashback, which is quite big. Last year I got almost $500 cashback which I re-invested. Cool you also know that I've used the Brim card! I'm still using it (also, not sponsored), mostly for Amazon purchases as it gives you a 2% reward on amazon purchases.
I am thinking of renting the 2nd bedroom to someone; especially I am planning on being abroad from 3 to 6 months a year but I am not sure how to find a reliable candidate ... About Heidelberg, I've sent my son there for 1 month last summer and got him a place right in the old downtown... Toronto got so expensive now that I found it affordable (same for Paris or other place in Europe; it seems cheap to me now compared to Toronto ;) )
Wow, interesting, thanks for sharing that! Toronto is another level when it comes to rent prices I guess! Did you got a chance to visit/accompany him in Heidelberg,?I hope it's still as beautiful! Yeah, it's always a bit of a risk renting out a room. You can get great people who will take care of the place, but if you get the wrong one then it can be a headache! Perhaps finding someone through 2nd, even 3rd degree connections could be an option...
@@LivinginCanada Yes I stayed 5 days in Heidelberg, very pretty city indeed; but it feels there is almost no locals there (only international students and tourists... then business owned by Indians, Chineses, turkish people :) ). But it was a fantastic experience for my son; just turned 18 and being at the university there for 1 month: it could be worst for a 1st experience on his own ;) True about the room for rent I'll ask around my contacts ... thanks
3:20 ….. if you earn a decent salary in your home country you need to give up A LOT with regards to standard of living to move to Canada and make it work😩
Find an apartment, once you move in find deficiencies and withhold payment until fixed. Work the inefficient legal system in Canada to prolong the eviction process as long as possible. Save you thousands in a year while reducing the demand of investment properties. It’s a win-win for everyone except slumlord corporations driving the housing market beyond affordable for the average person.
Keep in mind that you keep that money on hand though to pay that right away once all the payments are due. That's where so many people make a GRAVE mistake. They don't pay and end up spending it. Then get screwed once all repairs are made.
Only if you are willing to deal with those deficiencies. Not many are and it is also important to have all that money saved up and be ready to pay all of that rent right away once all repairs are done. That's where people make a GRAVE mistake. People just spend all that money and end up screwed.
Basements are hit or miss.. who knows when someone’s brother/child/mother etc is moving in. So many illegal evictions happening here in Vancouver. Also the smallest possible place is maybe 2000 in metro van. There is no “shaving costs” unfortunately.. unless you live with a roommate in a studio. There are no cheap places in metro van anymore.. even a couple hours away by transit is still very expensive. Unless you live several to an apartment..😢
Tip for you. Stop saying Canada. Do you realize how much difference in spending, savings and income between provinces in Canada? Also, it’s not really a hack, renting a basement was a thing back in the 70s/80s. The problem is not to do that but the whole market, country just doesn’t let people do that. You know what’s a hack? Like someone said in the comment, live in a van.
Yes, your roommate can use Chexy, but then your roommate would earn the credit card rewards/cashback. If you want to earn the rewards/cashback directly on your credit card, both you and your roommate would sign up for Chexy! Chexy would then split the rent and charge each of your cards directly!
Oh really how much yiu earned from YT ? Isn’t too much if you pay half of it for your rent plus half of your regular job ( if you have) Wow that’s way too much EH
If I downsize more I will be beliving in a cabinet lol kkkrying AND I live with my partner and a roomate in a tiny space. I am sorry, this video did not help at all. :(
Sorry to hear that! I understand that for many people, it's not possible to downsize any further. If the rent hacks are not useful, then the only other way is to increase income.
They took all my personal information only to tell me at the end of the long application that chexy doesn't accept Canadian Mastercards! They also deleted my previous comment. I'm sure they'll delete this one too. If they are legitimate, they should at least respond to my comment not remove it.
It's unfortunately the reality for many people. But there are ways to save on rent, to at least not let it go over 50%. Increasing our income is often a better way to squeeze the rent proportion further down to 40, or 30%.
Honestly? We don’t need hacks. We need affordable housing and better quality units. Too many slumlords.. this is a nightmare. Idc what hacks you try to feed us, to convince us to accept the situation. This has reached inhumane and unacceptable.. take your hacks and you know where to shove them..
Honestly, best hack is to stop voting Liberal or Conservative governments both federally and provincially. Only a strong socialist government will help the common people on a large scale.
1. Pay rent with credit card 2. Winter search means lower rent 3. Downsize living space 4. Roommates 5. Live on edge of city, near transit 6. Walk-out basement >Saved you time, like so more people see.
➡Sign up for CHEXY here to start saving thousands $$$$💵on your next rent: app.chexy.co/?redirect=/ It's simple: Pay your rent using your credit card. The money will go into your 'Chexy Wallet', and from there Chexy will pay your rent to your landlord, through interac e-transfer or PAD (Pre-authorized Debit), your choice!
There are different cash-back rates on credit cards depending on the payment type: grocery, bill payment, etc. What category the CHEXY payments are?
Rent via Chexy falls into the category of 'recurring expenses', hope that helps!
@@LivinginCanada sounds great. Thanks for your answer!
1. Pay rent with credit card
2. Winter search means lower rent
3. Downsize living space
4. Roommates
5. Live on edge of city, near transit
6. Walk-out basement
>Saved you time, like so more people see.
Thank you!
I live in a tent to save on rent and eat squirrels and pigeons to save on groceries.
Hilarious!
*Gives dead serious stare
Make sure to only eat the vaccinated ones, you don't want one of those nasty viruses or bacterial infections.
You’re living the dream bro. I wish.. but I can’t put my kids through that.. I’d do it alone at this rate though ☠️
Something I have noticed about a lot of basement apartments is that they often don't have windows large enough for egress that would pass a fire safety inspection. There are lots of illegal units like this... it seems very hard to find anything for less than about $1500 to $1600 that would pass fire safety.
You have good advice here, though!
You're right, there are a lot of crappy basements, and it's really hard to find a legal basement that's liveable, comfortable, and most importantly not as expensive as a regular apartment (defeating the purpose). Thanks!
The chances of fire in your lifetime is once or twice, in Canada. Are you planning on living there forever, you worry too much 😊
@@dns_errorwell if it’s found out you could get evicted so it’s a precarious situation
@meg7578 and what's the likelihood of that happening..?? Like 0? It's obvious the city doesn't care to enforce the law. Makes more sense to rent one of these suites for some years, save up to buy your own home
@@dns_error it only TAKES once to lose your life. I've escaped two apartment bldg fires. I was lucky.
Be careful when renting a basement suite around the GTA. There's a chance it can have high radon gas levels (radioactive gas) which can cause cancer and other health issues. I'm not saying do not rent a basement suite, but just double-check it has proper ventilation and airflow.
Thanks for the note, that's definitely something to consider.
Move in and withhold payment until radon gas levels are removed.
What, radioactive gas. Thanks a lot. I don't even know that this thing exists. Thanks again.
It does exist and it’s dangerous. It can also sadly found in daycares.
What kind of gas is this that likes to stay just in the basement and not travels upper level
Just lay in bed all day to save money on expensive groceries. Just wake up and eat some raw eggs with banana smoothie and then go back to bed. Repeat until death. Maybe take a smoke break too.❤
My room alone in canada is half my income. I am a senior a one bedroom apartment would be all my income.
It's a tough time for many people! I hope you at least enjoy your living spaces!
Your advise is so Down-to-earth and SOUND! As a 20?year Realtor, Like YOU , wish that investment education was taught in Grade School-how less dependant on Government we’d all be. Thanks for the effort on your vids; very good quality.
Thanks so much, I appreciate it! It really boils down to simple decisions we make in life. Sadly, many people don't realize this. Cheers!
Salaries are very low in Canada compared to some other countries for the same role/skill.
That's true, but there are also plenty of countries where the salary is lower for the same role.
Getting a roommate is waaay cheaper than a one bedroom apt
I'm curious to know what were the main reasons that made you leave behind your comfortable life in Jakarta to hustle and build a new life in Canada!
I grew up in Germany and always wanted to go back and live in a Western country :)
What average growth of 10%. Please tell me what you do to make 10% consistently in the stock market!
The S&P500 (one example) has returned about 10-12% on average since it's inception. So if you invest in an index that tracks the S&P500, like the VFV or VOO in Canada and hold it over the long term, you have a good chance of earning that on average. Of course, there are never any guarantees, but that is what history has shown
I live just outside Vancouver. My work pay won’t even cover rent at all. I live in my van. Much better.
Jeez😢
You have a decked out camper van eh? Solar panel, heated, kitchen? A bucket to evacuate your pizza pops? Are you in a trailer park or sleeping in a Walmart parking lot?
I think you missed an incredibly important one and that is to only look at properties that fall under rent control guidelines so you’re rent won’t be increased each year above the maximum limits set by the LTB in Ontario.
I’m glad I know these already😊
Does Chexy work on paying mortgages too?
I heard they're working on it, but not sure when this feature might be available (I would definitely use it!)
Be consistent! In Hack 3 u mentioned that u moved to a small apartment with ur husband while in Hack 4 u say that u r single! Inconsistency is the sign of dishonesty.
The hacks are not listed in chronological order. Before I was married, of course, there was a time in the past where I was single.
Toronto condo is crashing hard
Can you do car payments?
Not at the moment!
Hi, I checked Chexy and it charges 1.75% when using a credit card so it is not entirely free, unless you use a Canadian Debit, which says $5 dollars but seems to be free for now.
There is a processing fee. So to benefit from it, you'll need to use a high-reward credit card, ideally a 4% cashback card. That way you'll earn the 2.25% difference
Hi, which credit card is good for using chexy. Also for auto payment there is a charge to pay with chexy or any credit card.
@luthfunnaharlizu2498 Scotiabank's visa momentum infinite gives 4% cashback on groceries and recurring payments (including rent). Yes, there's a 1.75% fee, so I'd recommend to look for a card with at least 3% cashback to get a net reward!
@@LivinginCanada Must the cashback be applied as a credit to my current billing cycle, or can it be directly deposited into my account?
In Latin America regular low income rent is higher than the minimum wage
I get 750 and my rent is 835 tell me how this makes sence i am a single mom living in montreal canada cant get food or clothes need help
Only half? You must make good money.
I try!
Hi ma’am do you still use Scotia bank how is it like and also can you do a 2 year update video of you’re brim credit card thanks :)
I really like their Visa Momentum Infinite card (I'm not sponsored by Scotia btw!) because it gives a 4% cashback, which is quite big. Last year I got almost $500 cashback which I re-invested. Cool you also know that I've used the Brim card! I'm still using it (also, not sponsored), mostly for Amazon purchases as it gives you a 2% reward on amazon purchases.
Unfortunately, my apartment don’t accept e-transfer for rent payment.
Chexy can do PAD (Pre-authorized debits), that's a common method accepted by landlords for payments.
Tax waver i guess
Very informative video thank you !
I am thinking of renting the 2nd bedroom to someone; especially I am planning on being abroad from 3 to 6 months a year but I am not sure how to find a reliable candidate ...
About Heidelberg, I've sent my son there for 1 month last summer and got him a place right in the old downtown... Toronto got so expensive now that I found it affordable (same for Paris or other place in Europe; it seems cheap to me now compared to Toronto ;) )
Wow, interesting, thanks for sharing that! Toronto is another level when it comes to rent prices I guess! Did you got a chance to visit/accompany him in Heidelberg,?I hope it's still as beautiful! Yeah, it's always a bit of a risk renting out a room. You can get great people who will take care of the place, but if you get the wrong one then it can be a headache! Perhaps finding someone through 2nd, even 3rd degree connections could be an option...
@@LivinginCanada Yes I stayed 5 days in Heidelberg, very pretty city indeed; but it feels there is almost no locals there (only international students and tourists... then business owned by Indians, Chineses, turkish people :) ). But it was a fantastic experience for my son; just turned 18 and being at the university there for 1 month: it could be worst for a 1st experience on his own ;)
True about the room for rent I'll ask around my contacts ... thanks
Haha, Heidelberg has always been crowded with tourists and international students, but I guess now it's become even more touristy!
Still not sure moving from CIBC credit card to Scotia momentum infinite card.
Me too
Are u from Indonesia?
3:20 ….. if you earn a decent salary in your home country you need to give up A LOT with regards to standard of living to move to Canada and make it work😩
I see your point, but personally for me, there are things in Canada that I didn't get/couldn't do back there.
Find an apartment, once you move in find deficiencies and withhold payment until fixed. Work the inefficient legal system in Canada to prolong the eviction process as long as possible. Save you thousands in a year while reducing the demand of investment properties. It’s a win-win for everyone except slumlord corporations driving the housing market beyond affordable for the average person.
Keep in mind that you keep that money on hand though to pay that right away once all the payments are due. That's where so many people make a GRAVE mistake. They don't pay and end up spending it. Then get screwed once all repairs are made.
Only if you are willing to deal with those deficiencies. Not many are and it is also important to have all that money saved up and be ready to pay all of that rent right away once all repairs are done. That's where people make a GRAVE mistake. People just spend all that money and end up screwed.
china has lots of cheap rent space available
What do you mean?
Basements are hit or miss.. who knows when someone’s brother/child/mother etc is moving in. So many illegal evictions happening here in Vancouver.
Also the smallest possible place is maybe 2000 in metro van. There is no “shaving costs” unfortunately.. unless you live with a roommate in a studio.
There are no cheap places in metro van anymore.. even a couple hours away by transit is still very expensive. Unless you live several to an apartment..😢
Sadly, rental buildings near the subway charge more because of the convenience their building offers. :(
That's true, it's not easy to find deals!
I have Scotia Visa Infinite Passport Credit Card. Does this card qualify?
Yes, visa credit cards work with Chexy! Cheers!
Tip for you. Stop saying Canada. Do you realize how much difference in spending, savings and income between provinces in Canada? Also, it’s not really a hack, renting a basement was a thing back in the 70s/80s. The problem is not to do that but the whole market, country just doesn’t let people do that. You know what’s a hack? Like someone said in the comment, live in a van.
Beautiful!
Thanks!
Schöne grüße! From Vancouver. 👋👋
❤❤❤
I pay my roommate who then transfers the total amt. to my landlord. Can I still use Chexy?
Yes, your roommate can use Chexy, but then your roommate would earn the credit card rewards/cashback. If you want to earn the rewards/cashback directly on your credit card, both you and your roommate would sign up for Chexy! Chexy would then split the rent and charge each of your cards directly!
Is this video sponsored by Chexy?
100%
Report the police. It’s illegal to not be clear about sponsorships.
You can thank Trudeau, especially if you voted Liberal or NDP
Where are you getting 10% return on your investment???
Vfv 20 plus percent this year alone
Which stock 😂@@markopolov2207
This was some great advice even for the United States. Thanks! 😎
So glad to hear that, I appreciate that! :) Cheers!
Oh really how much yiu earned from YT ? Isn’t too much if you pay half of it for your rent plus half of your regular job ( if you have)
Wow that’s way too much EH
If I downsize more I will be beliving in a cabinet lol kkkrying AND I live with my partner and a roomate in a tiny space. I am sorry, this video did not help at all. :(
Sorry to hear that! I understand that for many people, it's not possible to downsize any further. If the rent hacks are not useful, then the only other way is to increase income.
Mortgage is 2/3 of my income …
I bet! Especially with the interest rates in the past years
They took all my personal information only to tell me at the end of the long application that chexy doesn't accept Canadian Mastercards! They also deleted my previous comment. I'm sure they'll delete this one too. If they are legitimate, they should at least respond to my comment not remove it.
Way to promote scotiabankol
Just that they're not sponsoring me!
It’s really saddening that rent is almost 50% of your monthly income. Die working just paying rent. This is not a place for me.😢
It's unfortunately the reality for many people. But there are ways to save on rent, to at least not let it go over 50%. Increasing our income is often a better way to squeeze the rent proportion further down to 40, or 30%.
I pay about 75% my income. It’s crazy but for me it is the difference between safety and sanity and a few cons in my wallet
Honestly? We don’t need hacks. We need affordable housing and better quality units. Too many slumlords.. this is a nightmare. Idc what hacks you try to feed us, to convince us to accept the situation. This has reached inhumane and unacceptable.. take your hacks and you know where to shove them..
Honestly, best hack is to stop voting Liberal or Conservative governments both federally and provincially. Only a strong socialist government will help the common people on a large scale.
I came from a socialist country. Believe me, you don’t want that.
This is the opposite of a hack.
Help the common people - by handing out even more money (my tax dollars).
🤦♂️
Not a hack honestly
I understand these things might sound to basic to be a hack, but still, many people don't do these!
@ not saying it’s wrong. Wealth isn’t everything 🙃
She is Juat telling stuff which is not correct .😊
1. Pay rent with credit card
2. Winter search means lower rent
3. Downsize living space
4. Roommates
5. Live on edge of city, near transit
6. Walk-out basement
>Saved you time, like so more people see.