hey guys,
I need some level headed opinions here as my gut is telling me to take the cash, buy two Trackhawk's and have my family live out of them while I sink the rest of the cash into GME and DOGE
I own a small-ish house in Redstone and my neighbors around me have been selling their homes to either Ontario investors or new to Canada families in the last 3 weeks. Prices for these 5 - 10 year old starter lane homes with detached garages have been anywhere from $495k - $575k from what I can see / was told by the home owner that sold. I have had 4 unsolicited offers from different realtors who knocked on my door offering me cash with no condition or inspections offers ranging from $525k to $600k. Money seems good taking into account what I paid for the house and what the city values it at.
Last summer we were going to list for $470k but didn't as we were outbid on a few homes that we liked. They sold for any where between $590k - $640k which I thought was steep at the time as they needed major renos for bathrooms, kitchens, roofs and whatever else is dated on 1990s houses. Those prices that I thought were high are currently looking like steals in the current market
Problem I have now is that while I am happy sell my starter home at a high price like $600k there is absolutely nothing to buy that would make a good 10 - 15 year home that isn't either insanely expensive (north of $720k starting price + over ask bids + cost of renovating a 90s house) or outside of Calgary.
Should a guy like me just sit tight and hang on to the house to see where markets level out to this summer or should I consider moving out of the city to a place like Carstairs where you can get a nice big home with a triple garage for under $600k and commute 2 days into downtown Calgary for work? I assume that in the winter during bad weather I might face a 2 hour commute into Calgary or a closed highway.
Any other good towns outside of the city that people here live in or recommend? We have looked at the obvious towns of Chestermere, Airdrie and Cochrane and they also have low detached home inventory.