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  #11  
Old 2013-11-24, 04:27 PM
Gino Gino is offline
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Originally Posted by Juglans View Post
Did you end up buying ?
:S
No, still rent... Thought about it hard and decided the long commute would not be worth the advantages of owning a detached house so I'm gonna rent until I can comfortably afford something closer to work. Condo living sucks though (noise, smells, slow elevators, lack of storage, stupid rules, etc). On the plus side I'm saving about 2k per month and my commute to work is less than 10 minutes.
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  #12  
Old 2017-03-16, 09:55 PM
Gino Gino is offline
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Finally bought last year. 400k for a newish (15 yrs) detached house with a double garage, in Barrie.

The commute to the GTA sucks but my bosses are ok with me working from home a few times a week so that helps.

I think I made the right call in waiting to buy, I was able to put down a bigger downpayment, and still have tons of savings in the bank in case of some unexpected emergency. Prices seem to have gone up quite a bit in Barrie over the last year. Not that I care as I have no intention to sell any time soon.
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  #13  
Old 2017-03-17, 10:30 PM
Mark & Lynda Mark & Lynda is offline
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Originally Posted by Gino View Post
Finally bought last year. 400k for a newish (15 yrs) detached house with a double garage, in Barrie.

The commute to the GTA sucks but my bosses are ok with me working from home a few times a week so that helps.

I think I made the right call in waiting to buy, I was able to put down a bigger downpayment, and still have tons of savings in the bank in case of some unexpected emergency. Prices seem to have gone up quite a bit in Barrie over the last year. Not that I care as I have no intention to sell any time soon.
You should of bought in 2012 when you started this thread. Can you imagine how much you would of made in equity in 5 years if you bought in Stouffville? I bought an investment in 2015 close to keswick (East Gwillimbury) and its already increased in value 350K! I imagine you spent 90-100K on rent in 5 years.
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Last edited by Mark & Lynda; 2017-03-17 at 10:32 PM.
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  #14  
Old 2017-03-17, 11:42 PM
tracybui tracybui is offline
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Originally Posted by Mark & Lynda View Post
You should of bought in 2012 when you started this thread. Can you imagine how much you would of made in equity in 5 years if you bought in Stouffville? I bought an investment in 2015 close to keswick (East Gwillimbury) and its already increased in value 350K! I imagine you spent 90-100K on rent in 5 years.
You are 100% right, he should bought in 2012 . But anyway, he still bought it even late, rather than nothing .
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  #15  
Old 2017-03-18, 12:22 AM
House Guy House Guy is offline
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Where is ChrisCanuck? Rent...??? My friend bought a house in Vaughan on 2015 moved in April 2016, now already went up ~$600k. If you work and rent, probably saving ~$25k a year...it takes 24 years to save $600k...All investment has some risk...You have to do something you never done before to get something you never got before...that is so true!
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  #16  
Old 2017-03-18, 12:51 AM
Gino Gino is offline
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I disagree with you guys. When I first started considering buying in 2012, I did not have enough money saved up, nor did I have enough income, to comfortably buy a house. I could have stretched myself thin and just barely afforded a house (which is what many do) but it would not have been a good choice.

Had I bought in 2012 I would not have been able to put down a serious downpayment and would have paid more in interest which likely would have negated any appreciation. Also my income grew a lot since 2012, so by waiting, I was able to put down a decent downpayment and buy a house I could comfortably afford. I don't consider the rent paid during that time as wasted because the rent was a lot lower than a mortgage would have been (not to mention property tax, higher utilities, insurance) so I was able to invest the difference and the TSX and NYSE did very well during that time. I wouldn't have been able to invest anything if I"d bought a house I could just barely afford.

Appreciation in Stouffville is a moot point because I never would have been able to afford a house in Stouffville in 2012 on my income anyways. I would have had to look at Keswick or Barrie just like I eventually ended up doing. Had I bought in 2012 my net worth would be lower today than it is now, despite the fact that I paid more for my house than I would have paid for the exact same house had I bought it in 2012.
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