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Thread: Foreign buyers to Calgary next?

  1. #61
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    Originally posted by Xtrema


    If your rental is giving you low return or even losses, you are probably buying some peace of mind and spoil yourself with a bigger place.

    Financially, you are looking at more expenses by going bigger (taxes, mortgage interests, utilities) and less income.

    If you can afford it, I would just keep the rental and upgrade your starter home.
    Originally posted by ercchry


    Ah, depends on your risk tolerance and your faith in this city... the $300-500k range (condos excluded) have held well, while that higher bracket has dropped a decent amount and has more potential for a rebound... besides the glaring and obvious economical issues the only other negative I could see is with the tightening of lending rules, sliding down payment, no insurance over $1m, harder qualifying, etc for sure has had a roll in this too and might hurt a full recovery

    I'd say this has to be a lifestyle choice, and piece of mind (cause rentals are stressful)
    Rental is being sold for peace of mind. It’s a pain in the ass (when its not going good) and it’s a drain on finances and cash flow on a monthly/yearly basis all while you gain ‘equity’ which does nothing for cash flow (until you sell). Its also pushing 8 years old and has needed some upkeep and will continue to need more upkeep. I’m over it.

    Will have >20% down payment for new place, plan on being in that house forever (or at least a hell of a long time, which everyone says but I realize that never happens lol).

    Do you think the $600-$800k market really has much more downward movement compared to the rest of the market? Unless everything goes sideways in Calgary I don’t think so but who really fucking knows.

  2. #62
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    I'd say there are enough factors at play that we will probably at least stay stagnant for a good while from here... except condos... condos are stupid, never buy an expensive condo (cough... maxboost)

  3. #63
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    ^^^

    I think that's a good spot $600k for the next home.
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
    I am user #49

  4. #64
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    Originally posted by ercchry
    I'd say there are enough factors at play that we will probably at least stay stagnant for a good while from here... except condos... condos are stupid, never buy an expensive condo (cough... maxboost)
    lol my condo isn't even expensive! but I agree with all the other ones being built around me, I'm probably not gonna see my money back on this. So glad i didn't go for the larger more expensive units.

  5. #65
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    Originally posted by max_boost
    lol my condo isn't even expensive! but I agree with all the other ones being built around me, I'm probably not gonna see my money back on this. So glad i didn't go for the larger more expensive units.
    FIL bought a $900k unit 7 years ago... yeah... he'd be lucky to see $750k right now

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    ^^^ at the time of purchase it seemed like a good idea and I was happy with the pricing haha

    i looked at some million dollar units too lol so glad so glad
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
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  7. #67
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    I bought a 2 bedroom/2 bathroom condo with an underground stall for 236k this past summer. Mind you, it's far south close to 22 X..but I'm quite happy with the price. I think she originally wanted over 250. But agree that prices haven't really moved much.

  8. #68
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    Originally posted by ercchry
    ^^ I love it more when they ask you what the money is for when you pull out over $10k... seriously? None of your business... hookers n blow, or a new car... we'll see where the afternoon goes!!!
    GF used to work at a bank a few years ago. Apparently it's to help customers avoid scams, especially elderly people.

    If you need to pull 10K out, you should say a like "one good night in Montreal" or something
    Ultracrepidarian

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    Originally posted by msommers
    GF used to work at a bank a few years ago. Apparently it's to help customers avoid scams, especially elderly people.

    If you need to pull 10K out, you should say a like "one good night in Montreal" or something
    That's fair enough for a senior citizen. But man. A guy in his 30's shouldn't have to deal with that. Let me waste my money on whatever I want.

  10. #70
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    having bought several vehicles in cash, including two for over $10k, bank has never hassled me about it. I don't mind them asking conversationally while they make sure they have the amount on hand.
    Quote Originally Posted by killramos View Post
    This quote is hidden because you are ignoring this member. Show Quote
    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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