Sometimes I think, it is not worth to enter this fight and simply stay for 5-10 years in Canada until your kids are kids and take all the savings back to India and invest in small cities where you don’t have to take any loan on your property. Until then, invest your money in India in liquid funds … My office colleagues from France do this, they don’t want to settle in Canada and they are here just to save
The solutions to the house insurance conundrum include paying off the mortgage, terminating the insurance, and taking a chance. Mortgage holders would incur significantly higher insurance costs.
In the event that you lack the funds necessary to rebuild your house following the catastrophic Mize, I suggest getting a high deductible insurance policy. You can also obtain a better place in the market with the assistance of a knowledgeable market expert.
In 2017, my Chinese spouse and I bought a 4-bedroom house in Foshan, Guandong, for 1,6 million yuan. We sold it for 900,000 in 2020, after it had been on the market for over two years without any buyers. I know that the Chinese real estate market is a fraud as a foreigner.
Someone who is gain-hungry will not get away with it. I don't need a lot of Americans. I ask that you treat me with respect, and I will do the same. Excellent meals and upbeat energy are everything I need. trying to market everything.
You go there where joy is waiting for you. Some folks just don't have the daring and adventurous attitude to be among the first. I'm excited to celebrate my 60th birthday on August 4 and I feel like my F.A is trying to help me get rich.
I will never ever buy house i need a good sleep at night 🌙 i don't wana buy house a die before my time due to Stress and buying car is also another trap you stay poor so i will rent a bachler apartment buy bicyle or electric bike stock food for one year live simple life buy stocks if ppl Really calculate after working so hard they still save or own nothing .in Rich countries ppl are slave of banks and in poor countries governments are slave of banks or imf .buying home or car is way of bank so they can trap you and they give you loan and charge interest on it thats how banks creat wealth . Ppl are poor but they wana look Rich thats the problem
Exactly, banks provides artificial affordability and inflate the value of asset. This artificial affordability cause people to spend more and buy bigger houses which they cannot really afford. Remember, the home which one stay is not an asset until it is rented or sold and it becomes a liability. You will have perception of being rich but actually it is false. Looks like everyone is working for a bank.
Hey, your statement of retiring comfortably with $2 Million CAD (12.5 crores) after 25 years in India is highly optimistic. India is an emerging economy with 7-8% growth whereas Canada is growing at just 2%. If you expect 4% growth in real estate prices in Canada, expect 10% growth in real estate prices in India in next 25 years. Cost of land is 1.5 lakh/ sq yd even in tier 2 cities in 2024, If you want to buy a land of 200 sq yd and construct a house after 25 years, expect to shell out Rs 15 lakh/sq yd and add the construction cost over it. It will cost you 35 crores, lets say CAD will be Rs 100 to INR. Still you will need 3.5 million CAD just to buy a house, here were are not even taking about household expenses ( both mandatory and discretionary spending). A person need to retire with 4 million CAD in Canada to live a comfortable post retirement life in India.
Most if not all, of these costs (different in value, but headers are the same) are the same in India, US, etc. But people crib about Canada , because we never got into the habit of researching in India, aur US ka socha nahi. People buy investments and real estate without putting their own research or considering their financial situation and then cry out loud. Real estate in any country will be a generational wealth builder as long as it’s carried and not sold in haste.
Great great analysis Paaji ! One thing that I would like to add is that someone who is renting will also have additional money each month(compared to someonewho is paying higher amounts in mortgage) that they can invest into the stock market for 25 years
It's best not to own RE in Canada. The concept of passing on generational wealth is a flawed one at best. Lost of immigrants take on mortgage that they can never carry for the duration of the mortgage, in the process get all mental and healthbissue trying to keep up with the monthly interest costs. It is mainly the South Asian community that falls into this trap. Also , Canada is heading towards a lengthy period of zero or negative growth, with successive governments focusing on social welfare than revenue generation. RE prices are only good as what a buyer is willing to pay. With increased immigration, from countries with completely opposite cultures, crime, poor healthcare, and the ghetosization of a lot of areas in Canada, expect RE to further tank.
Make sense to me. Eventually percentage of affluent people leaving Canada will rise, and those that rely on social benefits will increase, overall putting strain on economy and wages.
Great video as usual. For less than 20% dp, though you are paying CMHC insurance you get lower interest rate (20bps less) that makes up for the initial cost?
Hi Nav, thanks for amazing insightful video. Just one thing I want to add is - if a person doing 160k downpayment - his mortgage will be 3360 cad per month vs 3900( with 80k) downpayment scenario. The 550 cad per month lesser can be invested s&p 500 and can keep growing for 25 years.. isn’t it the same thing you mentioned in video to save 80k and invest in s&p.
It’s more or less the same - yes 🙌 Which is why, if you can make the 20% comfortably, you should… but don’t stretch or wait to save 20 is what I meant :)
Hello Paji, great information video, I was wondering the Capital gain tax and inflation rate if you just investing 100k in S&P 500 and you mentioned that you are also investing 2000 dollars per month to stock market, Correct me, if I am wrong, so the money your area investing other than TFSA directly goes to your non registerd acoount. on which you need to pay capital gain tax. 50% below 250k and 66% above 250K, as per the current rules. Can you make a video of how much capital gain tax you need to pay upon withdrowal and inflation rate also on your total stock market investment.
Thank you :) will make a video soon… A correction - It’s not 50% tax, it’s 50% of gains will be taxed at the usual rate. 50% - 66% tax will be too much and no would invest ever :)
Absolutely. I am just taking a real example of my home that would rent for $3000 and just sold for $825K. It’s a 1 year old freehold townhouse in Kitchener with a finished walk out basement. You can 100% buy cheaper
Default insurance = $118 per month ... Navdeep here in USA you pay default insurance as my down payment reaches 20% which in my case its 5 years and after 5 years $118 monthly payment drops off .
I’ll buy a home all in one go if God ever made me rich enough to buy it in full upfront. Not impossible for God; who knows.., my UA-cam channel might skyrocket some day! And I make millions just from there
Hello paaji Thank you for the great Information you share. Can you please guide how to know, how much mortage we will get in real. Online calculator shows very low. Is there any way to know out approximate loan we can get with out any credit check
Yes true. Insured Mortages (when you pay mortgage insurance) have better rates cause the risk for bank is very less if you default as the bank will recoup the mortgage from insurance.
Sometimes I think, it is not worth to enter this fight and simply stay for 5-10 years in Canada until your kids are kids and take all the savings back to India and invest in small cities where you don’t have to take any loan on your property. Until then, invest your money in India in liquid funds … My office colleagues from France do this, they don’t want to settle in Canada and they are here just to save
The solutions to the house insurance conundrum include paying off the mortgage, terminating the insurance, and taking a chance. Mortgage holders would incur significantly higher insurance costs.
In the event that you lack the funds necessary to rebuild your house following the catastrophic Mize, I suggest getting a high deductible insurance policy. You can also obtain a better place in the market with the assistance of a knowledgeable market expert.
In 2017, my Chinese spouse and I bought a 4-bedroom house in Foshan, Guandong, for 1,6 million yuan. We sold it for 900,000 in 2020, after it had been on the market for over two years without any buyers. I know that the Chinese real estate market is a fraud as a foreigner.
Someone who is gain-hungry will not get away with it. I don't need a lot of Americans. I ask that you treat me with respect, and I will do the same. Excellent meals and upbeat energy are everything I need. trying to market everything.
You go there where joy is waiting for you. Some folks just don't have the daring and adventurous attitude to be among the first. I'm excited to celebrate my 60th birthday on August 4 and I feel like my F.A is trying to help me get rich.
It is good to have to celebrate milestones now that I've been working with my market analyst *Leah* *Alderman* *Foster* for a few years.
I will never ever buy house i need a good sleep at night 🌙 i don't wana buy house a die before my time due to Stress and buying car is also another trap you stay poor so i will rent a bachler apartment buy bicyle or electric bike stock food for one year live simple life buy stocks if ppl Really calculate after working so hard they still save or own nothing .in Rich countries ppl are slave of banks and in poor countries governments are slave of banks or imf .buying home or car is way of bank so they can trap you and they give you loan and charge interest on it thats how banks creat wealth . Ppl are poor but they wana look Rich thats the problem
Exactly, banks provides artificial affordability and inflate the value of asset. This artificial affordability cause people to spend more and buy bigger houses which they cannot really afford. Remember, the home which one stay is not an asset until it is rented or sold and it becomes a liability. You will have perception of being rich but actually it is false. Looks like everyone is working for a bank.
Finally an honest video from this guy
Hey, your statement of retiring comfortably with $2 Million CAD (12.5 crores) after 25 years in India is highly optimistic. India is an emerging economy with 7-8% growth whereas Canada is growing at just 2%. If you expect 4% growth in real estate prices in Canada, expect 10% growth in real estate prices in India in next 25 years. Cost of land is 1.5 lakh/ sq yd even in tier 2 cities in 2024, If you want to buy a land of 200 sq yd and construct a house after 25 years, expect to shell out Rs 15 lakh/sq yd and add the construction cost over it. It will cost you 35 crores, lets say CAD will be Rs 100 to INR. Still you will need 3.5 million CAD just to buy a house, here were are not even taking about household expenses ( both mandatory and discretionary spending). A person need to retire with 4 million CAD in Canada to live a comfortable post retirement life in India.
That is why you need to buy now in India and not in 25 years. Also, who knows what it is after 25 years.
great advice one of your better videos!
Well made comparison...now im so tempted to sell my house and go for rent 😮
Haha!
Termination: Can be canceled once the borrower reaches 20% equity through payments or home value appreciation.
No you can’t in Canada. That’s a US thing only
@@growwithnav Thank you for eye opening .
Fantastic video for first time home buyers especially , thank you
🙌
Most if not all, of these costs (different in value, but headers are the same) are the same in India, US, etc. But people crib about Canada , because we never got into the habit of researching in India, aur US ka socha nahi. People buy investments and real estate without putting their own research or considering their financial situation and then cry out loud. Real estate in any country will be a generational wealth builder as long as it’s carried and not sold in haste.
I agree 100%
Great great analysis Paaji ! One thing that I would like to add is that someone who is renting will also have additional money each month(compared to someonewho is paying higher amounts in mortgage) that they can invest into the stock market for 25 years
Yes correct. That is included in the calculation as well as on the buy vs rent calculator 👍
Nice & easy to follow overview! Subscribed to learn more. Swaad Anusaar did it!
🙌🙌
It's best not to own RE in Canada. The concept of passing on generational wealth is a flawed one at best. Lost of immigrants take on mortgage that they can never carry for the duration of the mortgage, in the process get all mental and healthbissue trying to keep up with the monthly interest costs. It is mainly the South Asian community that falls into this trap. Also , Canada is heading towards a lengthy period of zero or negative growth, with successive governments focusing on social welfare than revenue generation. RE prices are only good as what a buyer is willing to pay. With increased immigration, from countries with completely opposite cultures, crime, poor healthcare, and the ghetosization of a lot of areas in Canada, expect RE to further tank.
Make sense to me. Eventually percentage of affluent people leaving Canada will rise, and those that rely on social benefits will increase, overall putting strain on economy and wages.
I think all life will be washed away in calculations. When will the home owner have peace of mind?
Great video as usual. For less than 20% dp, though you are paying CMHC insurance you get lower interest rate (20bps less) that makes up for the initial cost?
Yes you do get a better interest rate. Makes up for the cost long term.
Hi Nav, thanks for amazing insightful video. Just one thing I want to add is - if a person doing 160k downpayment - his mortgage will be 3360 cad per month vs 3900( with 80k) downpayment scenario. The 550 cad per month lesser can be invested s&p 500 and can keep growing for 25 years.. isn’t it the same thing you mentioned in video to save 80k and invest in s&p.
It’s more or less the same - yes 🙌
Which is why, if you can make the 20% comfortably, you should… but don’t stretch or wait to save 20 is what I meant :)
Hello Paji, great information video, I was wondering the Capital gain tax and inflation rate if you just investing 100k in S&P 500 and you mentioned that you are also investing 2000 dollars per month to stock market, Correct me, if I am wrong, so the money your area investing other than TFSA directly goes to your non registerd acoount. on which you need to pay capital gain tax. 50% below 250k and 66% above 250K, as per the current rules. Can you make a video of how much capital gain tax you need to pay upon withdrowal and inflation rate also on your total stock market investment.
Thank you :) will make a video soon…
A correction - It’s not 50% tax, it’s 50% of gains will be taxed at the usual rate.
50% - 66% tax will be too much and no would invest ever :)
@@growwithnav understand
Hi Nav , I don’t eat halal don’t plan to either , but what is a halal mortgage ?
Sorry if I’ve veered off topic
But why do you want to buy for 825 , there are way cheaper houses available
Absolutely. I am just taking a real example of my home that would rent for $3000 and just sold for $825K. It’s a 1 year old freehold townhouse in Kitchener with a finished walk out basement.
You can 100% buy cheaper
Default insurance = $118 per month ... Navdeep here in USA you pay default insurance as my down payment reaches 20% which in my case its 5 years and after 5 years $118 monthly payment drops off .
Not in Canada unfortunately
@@growwithnav thank you for your prompt response
If i pay 20% down. Then i am qualified for home equity loan. Is it good to used that loan for another property or investment in stocks?
You only qualify for the amount that you have over 20%. So if you do 25% down, you get HELOC worth 5%
Shayed aesi hi khappo ki waja se Allah ne sood ko haram kiya hai
I’ll buy a home all in one go if God ever made me rich enough to buy it in full upfront. Not impossible for God; who knows.., my UA-cam channel might skyrocket some day! And I make millions just from there
Hello paaji
Thank you for the great Information you share.
Can you please guide how to know, how much mortage we will get in real. Online calculator shows very low. Is there any way to know out approximate loan we can get with out any credit check
Book a call - we can let you know of this:)
Link in the description.
ty
🙌
At 3.12 it should be 3360 or insurance to be 50$
In scenario 2 , you could have factored in wage growth and invest this amount in S&P500 to see what figure we would end?
Yes 100% ✅ in my rent vs buy video, I did talk about doing a hybrid approach.
Hi Nav.. what’s your opinion of buying a 45 years old townhouse in Mississauga?
Depends on the house… make sure to get the inspection done
What on earth is he babbling about? Can barely understand him.....
Dear how can we get your services to invest in different streams other than buying houses.
Just watch my videos… there are many on stocks as well.
investment property which is non owner occupied has minimum 20 % downpayment !
Yes
What’s first priority collateral charge
If the home goes into default, and bankruptcy is filed / asset get liquidated via power or sale, the bank has the first right to be paid back.
Nice
🙏
Can we buy a home on work permit in Canada 🇨🇦
Hello bhaji I need advice on investment which is better in winnipeg
I would rather die soon! Both cases are so scary man!
I read somewhere that if you have Mortgage Default Insurance then the banks will give better mortgage rates. Is this true?
Yes true. Insured Mortages (when you pay mortgage insurance) have better rates cause the risk for bank is very less if you default as the bank will recoup the mortgage from insurance.
🙌🙌
Location 5:46 Principle? Principal nahin??
🙌
Kanedda mein nimnalikhit professions ka kya scope hai? Kya iske liye bhi Kanedda ki bhasha aanaa zaroori hai? Kanedda mein konsi bhasha boli jaati hai? Detail mein video banaavo. Merekoo bhi Kanedda jaanaa hai. Kaise kaise log jaa rahe hain Kanedda. Aap bhi chaley gayee Kanedda. Aap jaa sakte hain to koi bhi jaa saktaa hai. Merekoo bhi jaana hai Kanedda. Bataavo ki neeche likhe hue profession mein kaunsa job aasaani se milengaa. Ye bhi bataavo ki Kanedda ka visa aapne kahaan se khareeda tha. Kya visa ke saath ticket free mein milega? Kanedda ka visa milne ke liye passport zaroori hai? Kitni rishvat deni padti hai visa ke liye? Ye bhi bataavo ki Kanedda desh kidhar hai. Detail mein video banaavo.
Jobs ki demand hai ya nahin aur agar hai to kitna scope hai:
khalistaani terrorist
berozgaar,
khomchewaala,
HAAZEEER HO chillane waala adaalat ka anpadh bailiff,
Dilli-made ghatiya chaddi-baniyaan bechnewaala,
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luhaar,
waiter,
cook,
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raddiwaala,
dahi bechnewaala,
chaney-murmure bechnewaala,
gol-gappey (pani-puri) waala,
bhel-poori waala,
anaath,
shaadi ka decoration karne waala,
shaadi karwaane waala rishton ka agent,
red light area ka dalaal,
cycle rishkaa waala,
badmaash,
bhikhaari,
chor,
uchakka,
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daku,
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Dilli-made ghatiya transistor, charger aur headphone bechnewaala,
Lawrence Bishnoi jaise gangster,
motaa halwaaii,
sperm donor,
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hathbhatti ki zehreeli daru bechnewaala,
porn actors,
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Mumbai Docks par kaam karnewaala coolie jiska billa # 786 ho,
raah chalti shareef lakdiyon ko seeti bajaake bajaake chhedne waala sadak-chhaap romeo,
surrogacy karne waali bhaade ki mummiyaan,
deewaaron ki putaaee karne waalaa painter man,
naag panchami ke din snakes laane waala Sanperaa,
bandar ka naach dikhaane waala madaari,
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filmon mein extra ka kaam karne waala,
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Urfi Jaaved jaisi chhinaal content creator,
deewar film ki parveen babi jaisi escort girls,
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ladies tailor,
papad bechne waala,
khaanabadosh log,
romance scammer,
playboy,
massage girls,
railway ticket black mein bechne waala,
madraasi aur telugu films ki background mein tight kapde pehen kar dance karne waali behud moti aur heavy duty dancers,
arvind kejriwaal jaise hamesha jhaapad khaane waale third-rate politician,
kamathipura mumbai aur sonagachhi kolkata red light areas ko andhra, bengal aur nepal ki lakdiyaan supply karne waala criminal,
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kothe par mujra karne waali pakeezah ki meena kumari type nachaniyaa,
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covid-19 ke fake vaccine bechne waala,
bitcoin scammer,
golddigger lakdiyaan,
Harshad Mehta jaisa stock exchange ka cheater,
Abdul Karim Telgi jaisa stamp paper ka scammer,
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paagal,
Kanedda Immigration ke liye degrees ke jaali certificate banaane waala,
Kanedda Immigration ke liye IELTS ke jaali certificate banaane waala,
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Kanedda jaakar din-raat real estate ke ulte-seedhe content banaane waale dungurr Sikh log,
Kanedda jaakar US Visa decline karvaane waale aapke jaise dungurr Sikh log, ityadi.
Jaldi video banaavo. Bahoot bahoot sukriya.
Bai can you please go bit slow
Pro Tip: Go to 'Settings', click on 'Playback Speed' and choose from 0.25x-0.75x whichever speed you're more comfortable with.
🙌🙌