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  1. #1
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    Default well this was unexpected....

    so ive been laid off for a bit over a month now with no job in sight. You might remember me from such threads as "thinking of moving to airdrie" .

    Well that didn't happen and we decided not to list and move. This was a few months ago. Fast forward to 5 days ago, our realtor calls...."are you ready to move? I have a buyer that wants your house".....wtf.

    To see what comes of this, we let them walk through the house and we had an offer minutes after they left. Since we weren't on the market we werent really negotiable so we ended up getting what we had originally wanted for it.

    So...i don't have a job, end of July, no house either lol moving in with my inlaws until I have another steady job(as a welder its pretty hard these days unless you want to work for pennies) long enough to get another mortgage.

    So thats my life right now. I don't tend to really say too much about myself on here, but figured this was kind of a funny story.

    So another thing I was wondering is that ill have the equity from the sale of the house just sitting doing nothing until i can use it for another house. Where should I store this for the 6ish months(hopefully lol) a TFSA? Obviously have to have access to it and even potentially put more into it at any given time.

  2. #2
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    Whatever you do, don't sink it into another property right away. Milk the in-law situation for as long as you can. If you can't stand living with them for long, rent a place.

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    seems like you lucked out selling your property right now and being laid off, you will not have to worry about any mortgage to pay.

    stay with the inlaws for now and look for new properties to buy but don't rush into it.

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    This could be in the "same something nice" thread, what a turn of good fortune for you. Awesome dude!
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.

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    When you look at investments, I personally woukd choose low risk over any growth potential. I know others might have a different tolerance, but this money is your house, don't gamble it.
    Cashable GIC probably works. Current interest is ~1%, but zero risk.
    Make the world a radder place, grow a mullet.
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    Quote Originally Posted by ExtraSlow View Post
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    When you look at investments, I personally woukd choose low risk over any growth potential. I know others might have a different tolerance, but this money is your house, don't gamble it.
    Cashable GIC probably works. Current interest is ~1%, but zero risk.
    Yup. 6 months and you want the cash to buy, definitely dont risk any investments that could drop 10% or more in a few months (who knows wtf the market will do if theres a second wave). Just find a short term GIC or savings account or something simple.
    Nolan

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    Quote Originally Posted by JRSC00LUDE View Post
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    This could be in the "same something nice" thread, what a turn of good fortune for you. Awesome dude!
    I was going to say this doesnt sound that bad. You got the price you wanted, you have a place to stay(hopefully you get along with them) and you wont have the stress of paying housing costs while you're unemployed. From what ive been hearing the housing market is going to drop more this year and probably next so hopefully you have a good enough chunk of cash to jump in on a good deal. I know its not cool working for a lot less than you're used to but unless its next to nothing i would try and tough it out that way you at least have a job so when that deal comes you're not trying to get a mortgage with no employment.
    Quote Originally Posted by Mitsu3000gt View Post
    and I did not have the only say in the matter (most people just want it done ASAP and don't care about quality).
    Quote Originally Posted by Mitsu3000gt View Post
    If anything we made a better decision because we had a consensus and were all on the same page.

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    CERB's been extended for another 2 months too.

    Holla.

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    Thanks for the words and advice guys. I've told the woman that I do plan on staying at the inlaws for a good chunk of time, it'll be good if I do get a job soon that it will all be savings.

    I'll definitely be looking at the market to see what happens and I'm not in a rush. I have a pretty big chunk of down payment for a house and ill definitely be in the driver's seat when I'm ready.

    As far as throwing the money somewhere, I wasnt going to do anything risky as it is my house and I dont want to risk that, I just want it making a bit more for me if I can with 0 risk.

    I'll end up talking to the bank to see what they have for options whether GIC or TFSA would be better suited. Like i said, I want to be able to put extra into it when I can.

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    Congrats! That does sound like good timing to be able to offload your house while being laid off. Like others said, if you can stand living with the inlaws, milk it for as long as you can.

    When we were transitioning from selling our last place, to moving into the new one there was about a 2-3 week period where I was at the inlaws. It was great to come home after work and have dinner made for us every night and lunches packed every morning.
    No need to grocery shop or think of anything to make.
    I can't imagine it would have been like that longterm though.

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    I dont have much to add other than, check out some of the smaller banks like Tangerine or EQ. Tangerine recently had a savings account promo of 2.8% for 5 months.

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    I like how you've approached this. Many others would be incredibly beat up about it but you've turned it into a positive
    Follow me on Instagram and Facebook!

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    Yeah as someone else mentioned tangerine has 2.5% for 5 months in a free e-savings account, good rate and have access to the funds at anytime.

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    If you really want to make some serious money reach out to member zorroamg, im sure he can help you lol
    Quote Originally Posted by Mitsu3000gt View Post
    and I did not have the only say in the matter (most people just want it done ASAP and don't care about quality).
    Quote Originally Posted by Mitsu3000gt View Post
    If anything we made a better decision because we had a consensus and were all on the same page.

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    Quote Originally Posted by Rocket1k78 View Post
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    If you really want to make some serious money reach out to member zorroamg, im sure he can help you lol
    lol I didn't move to wildflower for a reason haha but you never know, its an up and coming community.

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    Quote Originally Posted by msommers View Post
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    I like how you've approached this. Many others would be incredibly beat up about it but you've turned it into a positive
    thanks man, I appreciate that. Trying to be as positive as I can, I actually love my house in general.

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    The only thing I got out of this thread is that those Lightning rims are staying chrome for longer now...

    Haha kidding. Sorry to hear. With time on your side, you can be super picky on your house purchase and pull the trigger on your terms. Good luck with everything.

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    Quote Originally Posted by JRSC00LUDE View Post
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    This could be in the "same something nice" thread, what a turn of good fortune for you. Awesome dude!
    Until the "How do I murder/suicide my in-laws" thread coming in 3 months, LoL!!

    Just kidding! Sounds great, for now. It's a tough time.

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    Quote Originally Posted by ThePenIsMightier View Post
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    Until the "How do I murder/suicide my in-laws" thread coming in 3 months, LoL!!

    Just kidding! Sounds great, for now. It's a tough time.
    I hope he makes that with his alt account.
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    Quote Originally Posted by Disoblige View Post
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    The only thing I got out of this thread is that those Lightning rims are staying chrome for longer now...

    Haha kidding. Sorry to hear. With time on your side, you can be super picky on your house purchase and pull the trigger on your terms. Good luck with everything.
    Actually. My powder coating shit is all at the inlaws lol if I don't have work, that's what I'm doing.

    - - - Updated - - -

    Quote Originally Posted by ThePenIsMightier View Post
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    Until the "How do I murder/suicide my in-laws" thread coming in 3 months, LoL!!

    Just kidding! Sounds great, for now. It's a tough time.
    nah, ive lived with the multiple times while I've built a couple houses. We have our own space.

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    Quote Originally Posted by ExtraSlow View Post
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    I hope he makes that with his alt account.
    I actually don't have an alt account
    Probably should make one just in case lol

  20. #20
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    Quote Originally Posted by 03ozwhip View Post
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    I actually don't have an alt account
    Probably should make one just in case lol
    Just make sure it's an alt left one or yous a racist!
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.

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