Calgary real estate prospects

[dirtsniffer]

What's next? We elect the NDP?

[pheoxs]

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I think its just going to get worse next year. We're going to see more and more people moving here because its cheap compared to BC and ON.

I do wonder if these rent raises will make condo investments viable. Even if you don't get on the principal itself maybe cash flow positive every month makes it worth it

[ExtraSlow]

The best time to buy is now.

[vengie]

Condo's are garbage.
The condo fee's are what crush your cash flow.

Minimum 3 bedroom town home with a 2 car garage.

[CompletelyNumb]

Have any condos in Calgary ever made money? Between special assessments and condo fees all the ones I've looked at were basically break even from their last sale price.

[msommers]

Where's Sugarphreak when you need him

Condos got hit incredibly hard with insurance premium increases over the last few years. That and the insurance regulation changes, there's a lot of cashflow predictions out of your control ultimately.

[kenny]

Airbnb market must be doing well :P

This house in Mahogany was probably $900k couple years ago and is listed now for $1.9M, claims to have $62k annual revenue from airbnb just renting out the basement suite.

https://www.realtor.ca/real-estate/2...lgary-mahogany

[you&me]

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Have any condos in Calgary ever made money? Between special assessments and condo fees all the ones I've looked at were basically break even from their last sale price.

It's probably been a while.

I made money on a townhouse between 03 & 05, but things were different back then. I think making money on anything bought in the last 10-15 years would be few and far between.

[ercchry]

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Where's Sugarphreak when you need him

Yeah, the trick was to sell before you ever took possession! Best ROI is on a deposit only investment

[Xamim]

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Airbnb market must be doing well :P

This house in Mahogany was probably $900k couple years ago and is listed now for $1.9M, claims to have $62k annual revenue from airbnb just renting out the basement suite.

https://www.realtor.ca/real-estate/2...lgary-mahogany

https://www.airbnb.ca/rooms/50393881...1-2f9a3b41b664

Gotta be booked nearly all year round to pull in anywhere close to $62K. Unless the raise the price for summer time bookings, but they still have to be booked right up.

[suntan]

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Airbnb market must be doing well :P

This house in Mahogany was probably $900k couple years ago and is listed now for $1.9M, claims to have $62k annual revenue from airbnb just renting out the basement suite.

https://www.realtor.ca/real-estate/2...lgary-mahogany

[88CRX]

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Airbnb market must be doing well :P

This house in Mahogany was probably $900k couple years ago and is listed now for $1.9M, claims to have $62k annual revenue from airbnb just renting out the basement suite.

https://www.realtor.ca/real-estate/2...lgary-mahogany

My boomer neighbours have 2-3 adult renters (renting out spare rooms) at all times. Fucking shoot me in the face.

[Xtrema]

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https://rentals.ca/national-rent-report

so apparently the average rent in Calgary is up 29% over last year. That seems insane.

Can confirm. What happen when nobody can afford to buy or waiting for low rate to return?

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What's next? We elect the NDP?

Danielle Smith is going to throw a bil at CSEC for a new stadium and that won't happen.

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Have any condos in Calgary ever made money? Between special assessments and condo fees all the ones I've looked at were basically break even from their last sale price.

Key is don't own anything with elevators in the complex.

[89coupe]

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Have any condos in Calgary ever made money? Between special assessments and condo fees all the ones I've looked at were basically break even from their last sale price.

I bought my condo in bridgeland for $205k
Sold 5 years later for $306k

Bought in Beltline for $47500
Sold two years later for $89000

[Rocket1k78]

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It's probably been a while.

I made money on a townhouse between 03 & 05, but things were different back then. I think making money on anything bought in the last 10-15 years would be few and far between.

Agreed, i bought a TH(3bed/1car garage) around that time for $153k and now its worth mid 3's. Got lucky so far with not one assessment but the condo fees have more than doubled, i think it was around $140 at first and now its $360 and rising.

Im still surprised we havent seen a big increase for condos though, i thought for sure we would've. With the cost of SFH going up so much condos might be the only choice for some and out of towners consider them free lol

[suntan]

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I bought my condo in bridgeland for $205k
Sold 5 years later for $306k

Bought in Beltline for $47500
Sold two years later for $89000

Front running realtor scum.

[max_boost]

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I bought my condo in bridgeland for $205k
Sold 5 years later for $306k

Bought in Beltline for $47500
Sold two years later for $89000

What you buying for 47500 lol what year is this

[88CRX]

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Bought in Beltline for $47500
Sold two years later for $89000

This is why people have a hard time taking you seriously.

[you&me]

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This is why people have a hard time taking you seriously.

Well he is like, fucking 60 years old

[Rocket1k78]

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Well he is like, fucking 60 years old

Is he really 60?