Calgary real estate prospects

[jwslam]

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What if you turn it into an artroom?

for your online subscription-based services

wait... that's tax free income anyways

[Pauly Boy]

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Rental condo had contractors doing some repairs on water lines in the building, they burst one in my unit and flooded it. Tenant is pretty excited.

Other unit has a dryer that now sounds like a v8 F1 car.

Definitely best asset class

Ouch, that sucks.

We just had 2 units sell in ours near or at our original purchase price, so hopefully we can ride this wave, list and get out now, lol.

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I would think a realtor wouldn't even bring your place up with a potential buyer at all and likely try to convince them that "for sale by owner: houses are riddled with issues.

Bingo. In most cases, a realtor won't even show a for sale by owner listing unless their client presses them.

[Buster]

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Rental condo had contractors doing some repairs on water lines in the building, they burst one in my unit and flooded it. Tenant is pretty excited.

Other unit has a dryer that now sounds like a v8 F1 car.

Definitely best asset class

RE is my favorite asset class.

[mr2mike]

I feel like we're setting up for some sore losers in RE in the next few years.
No one likes selling their property for a loss and agents perpetuate this with the stats they pump like it never goes down.

[suntan]

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I feel like we're setting up for some sore losers in RE in the next few years.
No one likes selling their property for a loss and agents perpetuate this with the stats they pump like it never goes down.

You can never lose buying a home to live in. You have to spend money on shelter, just like you have to spend money on food and clothing. You're either going to pay a mortgage or rent.

[Buster]

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I feel like we're setting up for some sore losers in RE in the next few years.
No one likes selling their property for a loss and agents perpetuate this with the stats they pump like it never goes down.

No, no. You have it all wrong.

RE is best asset class.

[flipstah]

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You can never lose buying a home to live in. You have to spend money on shelter, just like you have to spend money on food and clothing. You're either going to pay a mortgage or rent.

*laughs in my condo that's oversaturated in the market*

[suntan]

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*laughs in my condo that's oversaturated in the market*

Still beats renting.

[haggis88]

If I ever am able to buy a house again, I won't be moving again...so fucking sick of it

I will also be paying movers, I was bagged for 3 days when we moved into our current place

[TomcoPDR]

A large Unidriveway, but for those interested in a less colour pigmented neighbourhood


Check out this listing
https://realtor.ca/real-estate/24256...alsharelisting

[msommers]

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Still beats renting.

Does it though...

[mr2mike]

Exactly.

https://wowa.ca/calculators/rent-vs-buy-calculator

[zechs]

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Does it though...

Rent is almost always more per month or else rentals wouldn't be a thing.

Rent does not correlate to housing price I've found, but to supply/demand of rental units. So the bare minimum while renting is you pay for the total cost of the place (mortgage, taxes, utilities, etc). Then add profit on based on rental demand.

Owning a place, your main concern is maintenance (WAY overblown, I do not know a single family member or friend who has had a major repair necessary in close to a decade) and your property depreciating, which does happen, but usually only in correction situations (like in say, Alberta, where the housing market quadrupled over a decade or so).

The nice thing is, as the owner, you have equity in the property. Even if the value has dropped, you are insulated from that having an effect on you as the equity covers that drop (again, unless in extreme circumstances).

The only people I know who regret owning are those that bought at the peak in hopes prices would continue to skyrocket.

[Tik-Tok]

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Rent is almost always more per month or else rentals wouldn't be a thing.

Wat?

[zechs]

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Wat?

What do you mean what? It's a pretty straightforward statement.

[Tik-Tok]

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What do you mean what? It's a pretty straightforward statement.

Rent, historically, is not more per month than buying.

[zechs]

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Rent, historically, is not more per month than buying.

By all means, provide some evidence of this. In 20 years of renting and owning, I have not seen what you have stated in Alberta's major cities, short of the condo implosion in the downtown cores (which is an outlier, not the typical market).

What you suggest is that being a landlord is wholesale a money losing business. This is an absurb claim to make.

[ThePenIsMightier]

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...
What you suggest is that being a landlord is wholesale a money losing business. This is an absurb claim to make.

He's got you there, Tik-Tok!!

[Tik-Tok]

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By all means, provide some evidence of this. In 20 years of renting and owning, I have not seen what you have stated in Alberta's major cities, short of the condo implosion in the downtown cores (which is an outlier, not the typical market).

What you suggest is that being a landlord is wholesale a money losing business. This is an absurb claim to make.

Being a landlord typically involves having equity and not zero down on a house you intend to rent out. It's up to you to provide proof, as this is an absurd claim, with the only exception being condos where a condo fee is rolled into the rent.

Here lmgtfy

[zechs]

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Being a landlord typically involves having equity and not zero down on a house you intend to rent out. It's up to you to provide proof, as this is an absurd claim, with the only exception being condos where a condo fee is rolled into the rent.

Having equity doesn't change the cost on a 25 year mortgage, your renewal is still based on the original purchase price/down payment. Most rentals are not owned outright unless they are old as fuck.

As I said, in keeping comparables the same, renting is more expensive. I just went and checked the rental board as I haven't had a rental in a few years, and sure enough, any comparables are MORE to rent than it would cost to own the equivalent, plus when owning a sizeable portion of your monthly cost is equity which you can recuperate.

Nothing absurd about any of these claims. I get that it may be hard for you to understand, but on a total cost basis, owning is almost always better.