Calgary real estate prospects

[jutes]

Garage with window coverings? High class.

Looks like an Airbnb income supplement box.

[89coupe]

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Garage with window coverings? High class.

Looks like an Airbnb income supplement box.

I highly doubt that.

[XylathaneGTR]

Could be a side office / work studio? My builder completed a build a few years ago for a client who ran a private yoga practice.

[pheoxs]

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Could be a side office / work studio? My builder completed a build a few years ago for a client who ran a private yoga practice.

One place we looked at had this setup. 150sq ft heated shop and then a separate double garage. I really liked that setup as it'd be nice for a gym or a home office thats out of the house but ultimately the house had some issues and wasn't worth it overall.

[G-ZUS]

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I have stories…

do we need a new thread?

[ercchry]

Disappointed in the lack of art room comments

[88CRX]

Welcome to my parking pad.

[suntan]

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Disappointed in the lack of art room comments

Art room is front and center so passerbys can watch.

[ExtraSlow]

Calgary still highly affordable.


https://www.ctvnews.ca/business/anal...ties-1.6159269

[ThePenIsMightier]

So only $200k income can get you a million dollar house? Wouldn't the mortgage payments be somewhere near $4k/month? That sounds uncomfortable.

[Twin_Cam_Turbo]

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So only $200k income can get you a million dollar house? Wouldn't the mortgage payments be somewhere near $4k/month? That sounds uncomfortable.

Seems right. The amount we qualified for last year was absolutely ridiculous, the mortgage broker basically laughed at us for the price range we wanted to buy in. I would feel so uncomfortable paying a mortgage anywhere near what we “qualified” for.

[Tik-Tok]

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Seems right. The amount we qualified for last year was absolutely ridiculous, the mortgage broker basically laughed at us for the price range we wanted to buy in. I would feel so uncomfortable paying a mortgage anywhere near what we “qualified” for.

I said the same thing 19 years ago. Much regrat for not buying a $400g home back then.

[killramos]

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So only $200k income can get you a million dollar house? Wouldn't the mortgage payments be somewhere near $4k/month? That sounds uncomfortable.

That’s after squirrelling away 200k++ after tax for the down payment on a $MM home

[zechs]

Approximately $5500/month average including utilities/property tax/insurance.

$66k/year for the property. After tax income of about $130k in Ontario if $200k gross. More like $150k net if you figure DINKs at $100k gross each.

Dunno really what it means to be in that position. Sounds stressful, a couple years ago I was looking at an acreage at a bit over $400k new build GC'ing it myself and that was making me sweat thinking about it.

[ThePenIsMightier]

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That’s after squirrelling away 200k++ after tax for the down payment on a $MM home

Yeah, exactly. Which is an absolute minimum 10 years to save which is likely closer to 15+ years.
I can't believe our system lets people get strapped with that level of debt.

[killramos]

I wonder when they will up the allowable purchase price for CMHC because iNfLaTiOn

That’s going to be an awkward political football

[ExtraSlow]

We should ban cmhc

[killramos]

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We should ban cmhc

We should ban all government entities.

[schurchill39]

.

[JohnnyHockey13]

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Calgary still highly affordable.


https://www.ctvnews.ca/business/anal...ties-1.6159269

Curious how they did the math on $107,000 being able to but a $513,000 house?... with rates as high as they are today and the stress test, and using the major banks online calculators, they won't even lend you more than $400,000.