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I'm single living in Toronto Ont, Canada 2024 Now One small bedroom apartment is cost me about $2,600 a month ..Planing to move out Canada soon. 2much 4me!! I rather move to Thailand One- bedroom apartment cost about $245.U.S.D. A month with a beautiful nice view btf weather and cheap foods.
This is amazing informative content and I'm so happy I found you as we're looking to buy within a year. Subscribed! Looking forward to all your videos :).
I bought my home in 2012 for 290k and in 2 years it will be paid off on the biweekly payments and increasing payment amount every pay increase every year hard work and sacrifice always pays off 😂
Best to buy when the economy is down. the down payment guidelines will not be as strict from developers. We paid 10% for a property over 1M this is in the Vancouver market.
First, don't sign in any additional credit cards or other big stores, keep to one VISA and MC only as your new credit cards will be considered potential credits and they will reduce your credit scores/ratings.
it affects your average credit age, but it's not that significant. You do need to hold onto one and not close it as it affects credit history length. I have 3 credit cards and my score hovers around 830. I open other cards to get welcome bonus then close it (some credit cards offer nice bonuses and first year fee waved). As long as you are not addicted to swiping, you can make it work in positive way. The one i keep holding is the one with no annual fee.
@@PolineChan My suggestion in regards to first time condo buyers when they are applying a mortgage to max out the amount nothing to do with credit scores because as long as you pay off your monthly credit card billings your rating is still high.
Really appreciate your thoughtful videos. Thank you! Did the cost of the Deposit and/or Lawyer fees come out of the Mortgage loan or initial down payment?
Thanks so much! The deposit is part of the total downpayment, it is just a portion of it paid upfront to the seller (it will be counted toward the downpayment upon closing). The 1. Down payment, and the 2. other closing costs (including lawyer fees, taxes), are not part of the mortgage loan. This amount has to be saved upfront and paid in cash. The mortgage insurance (for DP
Trying to use the max of FHSA and HBP with my partner 200k as a down payment and hoping to finish the payment in 3 years. We have money on the side to still invest, and we can invest even more after those 3 years
How much time do we usually have after making the initial offer and closing the deal with down-payment completely paid. I want to know this since it may take some time to withdraw funds from FHSA/RRSP for the down payment as they require house offer letter.
It depends on the contract with the seller, but it's usually around 3-4 weeks. If you initiate the FHSA/RRSP withdrawal immediately, you should have plenty of time!
@@hateprigovor Buy your house or condo close to your working place to save time to commute or even without a car, considering the gasoline, insurance and maintenance cost, the best is close to public transport lines. You think Toronto housing price is too high, try to figure it out in Vancouver area.
@@mbahgugel271 Canada housing prices are too high overall. You can buy the same apartment in Chicago for 2.5 times cheaper than the same condo in Toronto. Is Chicago worse place to live in than Toronto? I don't think so. Plus average salary in Chicago is significantly higher than the one in Toronto. You can do the same comparison with Vancouver and Seattle. Seattle offers much more affordable housing, while you will have higher wage - both cities have the same climate and living conditions
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Hey guys, Wealthsimple will give you a free Mac or IPhone 16 💻📱when you transfer $100,000 or more to Wealthsimple, promo ends December 13, 2024. Simply use my referral code: ZCZSZQ here: www.wealthsimple.com/invite, and make sure you register for the Mac/IPhone promo! *Note: You'll need to maintain your funds for 365 days after the funding period ends.
I'm single living in Toronto Ont, Canada 2024 Now One small bedroom apartment is cost me about $2,600 a month ..Planing to move out Canada soon. 2much 4me!! I rather move to Thailand One- bedroom apartment cost about $245.U.S.D. A month with a beautiful nice view btf weather and cheap foods.
This is amazing informative content and I'm so happy I found you as we're looking to buy within a year. Subscribed! Looking forward to all your videos :).
Thanks and welcome to the channel!
You are soo financially ATTRACTIVE. Love your content.
Thanks, what a creative comment :)
Congratulations! Looking forward to purchase my own in a few years. Opened up a FHSA for that. Hope the prices go down by then.
All the best for your home purchase, enjoy the journey!🏡
AMAZING info in this post!!😊 Especially for new condo buyers.
Awesome channel! Awesome host!🙂👍❤
Thank you! Just hoping it gives first time home buyers an overview of the process :) Cheers!
I bought my home in 2012 for 290k and in 2 years it will be paid off on the biweekly payments and increasing payment amount every pay increase every year hard work and sacrifice always pays off 😂
Wow, that's awesome, happy for you! All the best!
This is valuable information, thanks!
Best to buy when the economy is down. the down payment guidelines will not be as strict from developers. We paid 10% for a property over 1M this is in the Vancouver market.
1M😂😂😂😂😂😂😂😂😂😂
First, don't sign in any additional credit cards or other big stores, keep to one VISA and MC only as your new credit cards will be considered potential credits and they will reduce your credit scores/ratings.
it affects your average credit age, but it's not that significant. You do need to hold onto one and not close it as it affects credit history length. I have 3 credit cards and my score hovers around 830. I open other cards to get welcome bonus then close it (some credit cards offer nice bonuses and first year fee waved). As long as you are not addicted to swiping, you can make it work in positive way. The one i keep holding is the one with no annual fee.
@PolineChan Thanks for sharing that!
@@PolineChan My suggestion in regards to first time condo buyers when they are applying a mortgage to max out the amount nothing to do with credit scores because as long as you pay off your monthly credit card billings your rating is still high.
@@mbahgugel271 I am saying that there's nothing wrong with having multiple credit cards if you know what you are doing.
is it worth buying a condo from an investor's perspective? It would be great to listen..
Long term, perhaps. I'm primarily buying a condo for more security and to buffer against rising rent prices.
Really appreciate your thoughtful videos. Thank you! Did the cost of the Deposit and/or Lawyer fees come out of the Mortgage loan or initial down payment?
Thanks so much! The deposit is part of the total downpayment, it is just a portion of it paid upfront to the seller (it will be counted toward the downpayment upon closing). The 1. Down payment, and the 2. other closing costs (including lawyer fees, taxes), are not part of the mortgage loan. This amount has to be saved upfront and paid in cash.
The mortgage insurance (for DP
@@LivinginCanada Thanks so much! This was very helpful and at just the right time ! Cheers!
Can you recommend your mortgage broker or do you know where to find a good one?
Thank you for your video. It is very interesting
Glad you liked it!
Thanks
Welcome!
Trying to use the max of FHSA and HBP with my partner 200k as a down payment and hoping to finish the payment in 3 years. We have money on the side to still invest, and we can invest even more after those 3 years
All the best!
Thanks.
Thanks for watching!
Hi! Is realtor advisable for pre-construction?
Getting advice never hurts, but in general I'm cautious about pre-constructions
Hi, may I know where did you buy your sofa?
Bed Bath and Beyond, it was on sale and only cost $280 at that time. Now similar ones are probably around $400-$500 on places like wayfair.com
How much time do we usually have after making the initial offer and closing the deal with down-payment completely paid. I want to know this since it may take some time to withdraw funds from FHSA/RRSP for the down payment as they require house offer letter.
It depends on the contract with the seller, but it's usually around 3-4 weeks. If you initiate the FHSA/RRSP withdrawal immediately, you should have plenty of time!
What was the total cost?
The condo cost in the high 400s!
Loved your content btw are you looking for video editor?
Thank you! No, not at the moment, cheers!
Idk if it’s possible to buy a house in Toronto in 2024
It's definitely tough at the moment, but not impossible!
❤❤❤😊
Thanks for supporting the channel!
500k for a studio in Toronto? Wow that’s insane you’ll never get any sort of capital gains from that.
Real estate in Toronto is soooo overpriced. Should have bought somewhere else, maybe Southern Ontario
Toronto is in southern Ontario 😂
@@blackgrandpa7652 obviously I've meant a smaller town and more to the south like Windsor or Kitchener
@@hateprigovor Buy your house or condo close to your working place to save time to commute or even without a car, considering the gasoline, insurance and maintenance cost, the best is close to public transport lines. You think Toronto housing price is too high, try to figure it out in Vancouver area.
@@mbahgugel271 Canada housing prices are too high overall. You can buy the same apartment in Chicago for 2.5 times cheaper than the same condo in Toronto. Is Chicago worse place to live in than Toronto? I don't think so. Plus average salary in Chicago is significantly higher than the one in Toronto. You can do the same comparison with Vancouver and Seattle. Seattle offers much more affordable housing, while you will have higher wage - both cities have the same climate and living conditions
@@hateprigovor New arrival immigrants in Toronto & Vancouver drive the house prices inflated.
Wtf you would buy a condo right now and especially in Toronto?😂😂😂 these fkin 🤡 are amazing.
It's crazy expensive. But it's worth it when you consider the risk of renting (being evicted, paying higher rents in the future as rent only goes up).
@LivinginCanada While smart Canadians are leaving 🇨🇦 you are suggesting it's worth to pay overpriced cage condos plus condo fees? 🐑🤡🤣🤣🤣🤣🤣🤣