Rant of the moderately wealthy...
- Thread starter Benji49
- Start date
What are the contractors that gave you those quotes? A few of my Friends have there own there own companies, I could ask if they know the ones that you are dealing with.
What he wants to spend on the Reno will get him a 2 bedroom 600-900 sq foot condo in East Vancouver. Prices are insane here.
What he wants to spend on the Reno will get him a 2 bedroom 600-900 sq foot condo in East Vancouver. Prices are insane here.
In Vancouver, a piece of shit 60 year old, small 3bdrm house in a sub-standard part of town that gets advertised as "needs some TLC. great for first time home owner!" gets sold at $600k.
For the same amount of money you could have a palatial waterfront home (or one at least with an ocean view) on a large piece of land with a dock on the Sunshine Coast. Keep an apartment in the city for overnighters there.
Same BS we saw here. Sell now and buy things back for 50% the price or less in a year or two.
This is from about a month ago - but I thought it relevant to those that still have time to sell whatever they have before the bubble bursts - if it has not already.
Vancouver Bubble
The other CA bubble
^Perhaps that doesn't indicate a bubble in CA nearly as much as it does a serious decline of American soil?
Here's a data link to chart through 2012 if you are so inclined.
http://www.bis.org/statistics/pp/pp.xls
It was never a decline of American soil - just a reality adjustment for over-priced McMansions built in developments that were just clay fields only months before.
Most of the people in America whining about being upside down mortgaged themselves to the hilt for a box of tinder that was built in "suburbs" that was nothing but farm land only a decade (or less) before.
The developers flattened the land, the counties ran in some drainage, the cable companies ran some cable, and the electric companies ran some wires.
Then the builders, subcontractors, and everyone else built those boxes.
Then the banks lent the money to the idiots that HAD to have the new box with the granite/stone/tile what-the-fuck-ever because Tom and Susie Dipshit got one and the schools are sooo good for their little fuck-trophies.
The businesses made millions and the idiot middle class dipshits couldn't run to get mortgaged up to their eyeballs fast enough.
As for OP:
Hope everything works out for you. but you've gotten some good advice in this thread about better planning. I'd heed it.
Or not. Fuck it, it's your house not mine. Do what you want.
Good luck, bro.
Most of the people in America whining about being upside down mortgaged themselves to the hilt for a box of tinder that was built in "suburbs" that was nothing but farm land only a decade (or less) before.
The developers flattened the land, the counties ran in some drainage, the cable companies ran some cable, and the electric companies ran some wires.
Then the builders, subcontractors, and everyone else built those boxes.
Then the banks lent the money to the idiots that HAD to have the new box with the granite/stone/tile what-the-fuck-ever because Tom and Susie Dipshit got one and the schools are sooo good for their little fuck-trophies.
The businesses made millions and the idiot middle class dipshits couldn't run to get mortgaged up to their eyeballs fast enough.
As for OP:
Hope everything works out for you. but you've gotten some good advice in this thread about better planning. I'd heed it.
Or not. Fuck it, it's your house not mine. Do what you want.
Good luck, bro.
I bought an apartment downtown Toronto on Bloor street for 710k about 5 years ago. It was 2 bedroom + a big office, 2 balconies one which was massive, altogether about 1600 sqf + a 300 sqf patio. I put in some renovations like tiger wood flooring through out the entire place, fix it up etc. When I bought the place I thought I was going to live there at LEAST until I was ready to have kids etc. My mortgage was about $4000/month and condo fees were $1500/month.
About two years ago I just kind of to hell with it, I sold my place (luckily Canada's real estate market wasn't like US and I got 760k+ so I pretty much broke out even after real estate fees and renovations) and I moved to the Dominican Republic.
Out here I am renting an apartment that's a little bigger, it's 3 bedroom, 2 living rooms, big kitchen etc. and I'm paying $675/month + electricity/cable/etc. I'm renting my jeep. Basically I am free as a bird, I am very comfortable but if I decide to leave this country tomorrow, I could.
The point I'm trying to make is I'm 28 years old and one of the biggest mistakes I made was thinking I needed to buy a place before I was ready to. My advice to any of you young brah's working online and making monies is to live abroad, go experience different stuff. Don't get locked down with mortgage payments and renovations etc before you have to.
It may be terrible advice financially but I am way happier.
About two years ago I just kind of to hell with it, I sold my place (luckily Canada's real estate market wasn't like US and I got 760k+ so I pretty much broke out even after real estate fees and renovations) and I moved to the Dominican Republic.
Out here I am renting an apartment that's a little bigger, it's 3 bedroom, 2 living rooms, big kitchen etc. and I'm paying $675/month + electricity/cable/etc. I'm renting my jeep. Basically I am free as a bird, I am very comfortable but if I decide to leave this country tomorrow, I could.
The point I'm trying to make is I'm 28 years old and one of the biggest mistakes I made was thinking I needed to buy a place before I was ready to. My advice to any of you young brah's working online and making monies is to live abroad, go experience different stuff. Don't get locked down with mortgage payments and renovations etc before you have to.
It may be terrible advice financially but I am way happier.
IMO, you're doing it right.
Maybe not. Lots argument to be made for renting vs. buying. I saw many a chart just a year or so ago that made a compelling argument for renting over purchasing.
Of course, everyone's needs are different. Goes without saying.
But the tired old adage of "throwing your money away" by renting just isn't true.
If someone on this forum can't figure out a way to utilize their money so that any ROI on owning a home vs. not isn't a drop in the bucket, then I feel for them.
Never heard that. How does one put a price on happiness?
80k is a sports car (albeit probably slightly used)
or 8 coke & hooker filled weekends
or a nice little chunk of startup capital.
I'd personally tell people to lean towards the last one of those options, but I think most people just like to make bad decisions just so they can't bitch about them later.
C'est la vie.
does anyone else lol to themselves at the thread title?
"rant of the moderately wealthy.."
haha i like it
"rant of the moderately wealthy.."
haha i like it
Kind of a long story but basically I wanted to go to Brazil but it was February when I was looking and the whole country was booked solid because of Carnival. I started looking around for other places to go in the meantime and ended up on VRBO.com, DR had a lot of nice spots and so I decided to check it out and haven't left since. I had my apartment on the market for a while and then when I got an offer it was on a condition of like a 12 day close or something ridiculous so I really had very little time to find a place to go to.
The other day I read a thread about someone living in Cabo, Mexico and it sounded waaaay better than here. I'm not necessarily advocating any one move to the DR, it has it's pros and cons but really my point was more so to travel and experience life before being tied down to a mortgage.
First World Problems.
My problem yesterday was that I forgot my charger in the office. I had go on battery conserve mode.
My problem yesterday was that I forgot my charger in the office. I had go on battery conserve mode.
OP Hongcouver is gonna crash. Don't waste your money or go in debt. Sell your house, get another one. It's cheaper and better.
You shouldn't be living down on East Hastings anyway.
@Fellah: Fucking good deal man. I heard a lot about the DR since the company I used to work with started there and brought everyone to Costa Rica when they moved so everyone has stories about there. Lots of good.
You shouldn't be living down on East Hastings anyway.
@Fellah: Fucking good deal man. I heard a lot about the DR since the company I used to work with started there and brought everyone to Costa Rica when they moved so everyone has stories about there. Lots of good.