$5K mortgage just like that

[Helico-pterFunk]

Thanks for this story.

Cool story!

I hope your dad takes their offer to check out the house he used to live in.

Thanks. My pops was telling me the story and was like - "Wait ... get this ... the story gets better ..."


Side note ... had another good experience with the home he grew up in (East Vancouver). Grandparents bought the place in the 1950s and passed in the 2000s. Dad and my aunt (his younger sister) sold the place in 2009 for approx' 600k. The couple that bought it were younger and said to come by anytime to see the changes they would make to update it. They really appreciated that gesture. They showed him the updated front stairs, back deck, small garden space, renovated kitchen & basement suite, furnace and high-end appliances, etc. It was an older house that needed a ton of TLC, and they gave it that.

Modernized the place as it had "good bones", as they saying goes.

 

[jawnswoop]

Thanks. My pops was telling me the story and was like - "Wait ... get this ... the story gets better ..."


Side note ... had another good experience with the home he grew up in (East Vancouver). Grandparents bought the place in the 1950s and passed in the 2000s. Dad and my aunt (his younger sister) sold the place in 2009 for approx' 600k. The couple that bought it were younger and said to come by anytime to see the changes they would make to update it. They really appreciated that gesture. They showed him the updated front stairs, back deck, small garden space, renovated kitchen & basement suite, furnace and high-end appliances, etc. It was an older house that needed a ton of TLC, and they gave it that.

Modernized the place as it had "good bones", as they saying goes.

I like reading wholesome stories like these.

 

[SamSneed]

Damn

 

[mcguyver]

Thanks for this story.

Cool story!

I hope your dad takes their offer to check out the house he used to live in.

1.8mil for a 3 bedroom?

 

[Helico-pterFunk]

1.8mil for a 3 bedroom?

Crazy, right?

9 times the assessed value of what it sold for 21 years ago.

 

[Shadow]

My
Mom did a 15 year mortgage on her small house and been paid of for like 15 years now. Can’t knock it but for anything more than 250k just go 30 years. My mortgage is comparable but I have almost 5K sq ft, 5 BR with a BA in every room.

 

[Autobot8655]

1.8mil for a 3 bedroom?

Bruh, people have sold their homes...regular homes in Canada and bought fucking castles in Europe.

That is not an exaggeration. Look at this house in Regina...Fucking Regina, bruh which is in the middle of nowhere The metro population is ~250K.



Ontario couple from buttfuck, Ontario sold a home and bought a castle in France.



Canada and Australia are going through terrible housing crises right now.

I can understand Australia....in ways....but Canada...that is BS

 

[Coldchi]

i mean she kinda cute.

i see OnlyFans in her future.
Buss that thang open for 2 weeks for the world to see and u can pay that house off in cash in a month.


Juss sayin.

 

[catdaddy]

15 year Mortgage. 30 year and she would pay half of that.

This

 

[jawnswoop]

i mean she kinda cute.

i see OnlyFans in her future.
Buss that thang open for 2 weeks for the world to see and u can pay that house off in cash in a month.


Juss sayin.

Tell em Pimp!

 

[mcguyver]

Crazy, right?

9 times the assessed value of what it sold for 21 years ago.

Bruh, people have sold their homes...regular homes in Canada and bought fucking castles in Europe.

That is not an exaggeration. Look at this house in Regina...Fucking Regina, bruh which is in the middle of nowhere The metro population is ~250K.



Ontario couple from buttfuck, Ontario sold a home and bought a castle in France.



Canada and Australia are going through terrible housing crises right now.

I can understand Australia....in ways....but Canada...that is BS

Why is the market worst than America?

 

[havelcok]

Unless you're a fucking millionaire or have one hellova good paying job, it makes no sense to buy a home in California! Overpriced to the max. Not to mention the car requirements and gas prices! The 70's and 80's was a good time to move there. Now? Hell no!

There is a reason why Cali can command the prices it can
and thats because it is actually quite fucking nice to live there

 

[Gods_Debris]

15 year Mortgage. 30 year and she would pay half of that.

Not in the long run she wouldnt

 

[Gods_Debris]

She's paying interest on 530,000 every month

 

[Gods_Debris]

Not in the long run she wouldnt

@jawnswoop explain this?

I know you can do math bruh. It's a huge difference in total cost 15 v 30. There is really no dispute to be had.

 

[jawnswoop]

@jawnswoop explain this?

I know you can do math bruh. It's a huge difference in total cost 15 v 30. There is really no dispute to be had.

Nothing to explain, I made my point clear of what I meant.

So, either you scroll up and check it out or else keep it moving......Choice is yours.

 

[Gods_Debris]

Nothing to explain, I made my point clear of what I meant.

So, either you scroll up and check it out or else keep it moving......Choice is yours.

What a dipshit response. Why the fuck would I read anything out of a totally unrelated post you made into what I quoted from a different poster. That is some oddball bitch ass nigga behavior to perpetrate but you did it. You pulled it off. Congrats.

And no, dick fingers, 30 would never be cheaper than a 15 because that's not how interest works stupid.

 

[Helico-pterFunk]

Why is the market worst than America?

Not quite sure, but there’s a lot of foreign ownership and places that have sat empty further exacerbating the housing crisis. Makes sense why they instituted an empty home tax years back to try and curb that.

The market is a mess though.

When I bought in 2009
I looked for 6 months prior. Went to open houses nearly every weekend. Did my homework and worked like mad for 5 years to save for a big downpayment.

When buying I thought I was paying way too much.

The assessed value now is almost 2 and a half times what I bought it for. Primarily being of land value, and not the actual building / structure itself.

 

[mcguyver]

Not quite sure, but there’s a lot of foreign ownership and places that have sat empty further exacerbating the housing crisis. Makes sense why they instituted an empty home tax years back to try and curb that.

The market is a mess though.

When I bought in 2009
I looked for 6 months prior. Went to open houses nearly every weekend. Did my homework and worked like mad for 5 years to save for a big downpayment.

When buying I thought I was paying way too much.

The assessed value now is almost 2 and a half times what I bought it for. Primarily being of land value, and not the actual building / structure itself.

Fuck the tax. They should've seized them and auction them off to the citizens.

 

[Helico-pterFunk]

Fuck the tax. They should've seized them and auction them off to the citizens.

There’s definitely gotta be a better way.

It’s tougher and tougher on people to rent / buy as the years pass as housing takes up so much of your $.

My brother’s friends understood why he moved away within the past 20 years to a smaller city. Got away from the bullshit hustle and quality of life improved.

 

[Helico-pterFunk]

@jawnswoop

@mcguyver



Just looked over the BC Assessment website for assessed value (as of July 2024) for late grandparents' place. The home that my dad and aunt sold in 2009 for just over 600k (which seemed costly then).


Built in 1959.


Total assessed value now is 1,917,000.



* Land value is listed at 1,785,000 ... and the building itself is 132,000.


Previous year's assessed value was essentially the same at 1,911,000.


It's a corner lot close to transit, shopping, schools.

 

[mcguyver]

@jawnswoop

@mcguyver



Just looked over the BC Assessment website for assessed value (as of July 2024) for late grandparents' place. The home that my dad and aunt sold in 2009 for just over 600k (which seemed costly then).


Built in 1959.


Total assessed value now is 1,917,000.



* Land value is listed at 1,785,000 ... and the building itself is 132,000.


Previous year's assessed value was essentially the same at 1,911,000.


It's a corner lot close to transit, shopping, schools.

WTF!!!

That's insane, and rent gotta be high as fuck too.

 

[Helico-pterFunk]

WTF!!!

That's insane, and rent gotta be high as fuck too.

Yeah - the landlords are definitely making a killing.


Talked to my coworker a few weeks back (he's in his 40s) and he mentioned his nephew recently moved out of the family home after graduating from college. He's staying with friends and some strangers in some rental in South Vancouver. 8 or 9 people sharing the house, and they're all paying $1000 plus apiece.


Coworker said "That just doesn't sound appealing ... landlord's making $9000 or more a month renting that so-so place out, and you know they're cooking the books re: rental revenue ..."

 

[Helico-pterFunk]

 

[meilmarc]

Worst advice ever man.
Owning a house builds equity.
Depending on the situation, in her case, in these times yeah its madness.

But the simple fact of me paying someone else's mortgage in an apt or me owning what I have building equity and selling for a profit when I'm ready to bounce, yeah. Did it twice before and with my current home I'm up double.
Previous home bought for $150k and sold for $425k.

Buying a home is smart and sound, but in these times with the rates, insurance and prices of homes its all inflated.

I wouldnt of done a 15yr but dont know her pockets.

Many just aren't buying period. I got an email from Zillow showing in my area 136 homes for sale last month. How many sold are ONE.

No one is buying only because they cant afford it. My mortgage is less than a 1bdrm in my area and I have a 5bdrm 3400sq ft home with theater room.

When you buy, you lock in that price, which fluctuates with your taxes yearly, but at the time may seem like much, but 10 yrs down or even 7, apartment prices will go up, your mortgage will stay pretty much the same for your 20-30 yrs (if you drop an extra hundred a month, to cut down your principal)

:::two cents:::

All this, plus the tax deduction benefits on the property tax or principal. Get a side hustle with a 1099 and write off that home office and alot of other shit.

 

[Helico-pterFunk]

Not quite sure, but there’s a lot of foreign ownership and places that have sat empty further exacerbating the housing crisis. Makes sense why they instituted an empty home tax years back to try and curb that.

 

[bluemoon]

She didn't include the homeowners insurance cost, which is required by the mortgage company .

 

[yureeka9]

Damn! She didn't even mention home owner's insurance either!