Up for renewal in Feb 2026, likely looking at going from 1.49% -> who knows on a $500K mortgage.

• Biggest thing is taking the opportunity to work and build up a bigger potential lump sum payment. No kids, early 30's, my line of work = work more get paid more (e.g. evening/weekends/overnights), so I understand this isn't something everyone can do.
• Being more conservative about other liabilities/spending. E.g. a couple years ago I was planning on getting a nicer ($70-80Kish) car at this point in life - holding off on that now. Same with plans for more extensive renovations.
• I hadn't planned on renting my basement suite and probably still won't, but it certainly is becoming a more tempting opportunity. The way rents are, an additional $1600-1800/month (admittedly pre-tax) is not an insignificant amount. Still, for now, I'd rather work a little harder each month and have the place for myself but that may change.

No real planned change to other spending like vacations, because after pandemic shutdowns life's too short to pass up those experiences (and the number of pre-kids years is dwindling). Dining out we're doing less just because with prices/tipping expectations we just aren't finding it as worth it.

When we were shopping for our new place there was quite a few McMansions that were advertising having two one bedroom rental units. That’s 3600 a month and really made me :alone:

But the trade off was quite severe. Unlike Vancouver where most of these units are downstairs and pretty much out of sight / out of mind. Richmond ones are just adjacent to your family room or office or kitchen. When I’m blasting my loud ass hentai scat porn, I don’t think these “students” will appreciate it.

So ultimately we forego the rentals to maximize our own livings spaces. Chihuahuas would not approve of renters.

Nothing you can really do, cut back on spending like what the gov wants, lump sum payment if you can, buy some gics:troll: or all in in stonks

re: GIC's, cant avoid the taxes. After I sold my place back in Aug 2022, Locked in at 4.5 for 6-months in Sept 2022. It was great on paper but after taxes, it worked out to be at 3.6% while the RE market ran up 4-5% by March

Trying to save as much as I can, I'll evaluate what I'm going to put down on my mortgage at renewal in January 2025.

Other than our mortgage we have no debt, pay our CC off every month. I do have to buy my wife a new vehicle this year but even if I don't pay it off at time of purchase I'll make sure it's cleared before the mortgage renewal.

I might go back to contracting on the side to make some extra money in the next little bit so I can save even more money, wife is finally getting reclassified in her Govt job so her wage should go up as well which helps.

it's insane, getting paid in rupees and then taking loans to pay to send your kid to international school and it's a completely worthless institution. definitely the fault of predatory immigration consultants over there who get kickbacks from these types of schools. at least get your kid on the path to go to kwantlen or douglas if they can't go straight to uni, not 'canadian college' or 'coquitlam college', etc...

How do you vet applicants like them if they just moved here?

yes traditional education is a friggin scam. They run it like a business with little to no value to the student all the while making these kids jump through some very expensive hoops. yes, of course, you need a 20-30 science credits for your liberal art degree because that'll really give you a more WELL-ROUNDED EDUCATION. shut the fuck up.

Trade schools at least make sense as they teach you an employable trade. But getting a History Degree (says the guy who has a history and philosophy degree) is utterly a waste of time and money.

No fuckin' kidding. I was walking around the West End yesterday and this Euro-sounding guy approached asking where "XXX English School" was? We were in the middle of a residential zone with nothing but apartments/condos. I asked to see his phone and according to Google Maps there's a supposed school inside an apartment building with dozens of five star reviews. Not a tutoring service, an actual school. WTF? We're really bringing in the best and the brightest into this country these days FailFish.

Also wtf Google, reported that shit you better get on it...

Even trade schools have a lot of bullshit in there where you know you're never going to need to know certain things they teach you but at least each it's only like 7 weeks at a time and then you get you go actually work and learn hands on which is what's actually going to make you good at it.

For most jobs just having someone show you what to do and letting you get hours doing it is all you need, but without dat 50k degree no one will touch you.

I think universities charging big money to non locals is everywhere. My cousin went to Penn State in mid - late 2000. His tuition was $70k USD per term back then and he did 4 terms to finish his degree. Meanwhile his American classmates were paying 1/3 what he was paying.

Aren't state schools heavily subsidized for In-state residents?

Still, a reputable university vs going to "Canada College for Engrish and Busniss" school is not really comparable.

for sure but what we're talking about here are the useless predatory colleges that are run strictly like businesses to lure international students, not legitimate schools that even locals attend.

We had a heap of new to Canada applicants this last round and things we looked at beyond the usual (personality etc):

- What's their bank balance? Some folks had as much as a year's worth of savings ($60k+).
- What's their prior work experience and how hireable are they now? We passed on the ones that were doing a career change or had a somewhat complex/niche type job. The easier to hire they were the less they had to have in the bank balance.
- How likely we thought they were to like the amenities and area? Eg. If they have to commute an hour+ to school/work and hadn't experienced that before in their prior life that's not a great fit.
- Have they been to Vancouver to before? Do they know what they're getting into? We rented once to a couple that had never been here and came from a tiny Irish town and they hated Vancouver within a few months and moved back.

We ended up renting to a British couple in their mid-20s who work in the service industry (pub manager), they had about 4 months of runway and were able to both get jobs in about 5 weeks. I think they were hoping to get higher paying jobs but it's a start and I'm sure their jobs will get upgraded over time.

We turned down a couple who had $60k in the bank but one was doing a career change (going to school) in a field (tech) where n00bs would have a brutal time getting work. Turned down all the students going to schools that were more than a hour commute as well, we figured they wouldn't last long.

As far as predatory higher education agents go, my thinking is -- where you place the blame depends on where you want to focus on, and how high you want to go.

- Do you blame the family for not doing their research first to see how much it is going to cost young Sandeep to go to school in Canada? or how much strain it is going to put the entire family back home up against? or what kind of earning expectations he'll see after completing the program?

- You can probably blame the predatory non-Canadian and Canadian agents no matter how you look at it.

- Do you blame the Canadian higher education institutions for charging sky high tuition fees (usually 3x of what domestic students pay)?

- Do you blame the provincial and federal gov for the ever decreasing per capita education funding towards the publicly funded higher ed institutions?

My understanding of this, is these students can't afford paying for UBC/SFU and the cheaper alternative is these "immigration schools" to get their immigration application approved by prepping them for CELPIP/IELTS (although not mandatory). Then in turn, they buy property by using the banks new immigrant program.

Por que no los dos x2?

There's really no excuse to fall for these scams from the point of view of the immigrant. They all have access to the internet like the rest of us. These are not people coming from villages with no electricity looking for a better life.

Everyone else is just in it for the $$$ and they don't care who they exploit or whether they're foreigners, immigrants, or generational Canadians

As supafamous said, ask for bank details (even tho it's easy to fake)

Second would be personality in person. You can usually tell who is a wackjob degenerate, and who is trying to make it by a simple 5 min conversation.

Otherwise it is tough, you want to rent to these people, but it goes against the normal "what's their job, what's their credit"

I had an international student apply, no job, no credit. I asked her how she's going to pay, she whips out her phone, logs into her banking and proceeds to tell me daddy dumps in 50k every 6 months. Her bank account had 90k in it.....
Signed her up, one of the best tenants I've had.

100+ applicants, I guess your pricing is too good. You could probably repost it 30% higher. The ideal number of applicants is about five if your listing is priced at the correct market rate.

Fuuuuuck I hope you signed her up for a lot more than just tenancy #sugarmama

Wow she has more money than most people off the street in Vancouver lol

Seems like it. I thought asking 2100 was fair or market rate as my unit is smaller (700sqft) and it’s an older house and those with brand new homes and larger basements/nicer features like radiant heating and taller ceilings were asking 2300-2500.

this is the cause of our inflation guys :lol

raising interest rates can't curb the wave of FOB money

Don't they just pool money to show they have proof of funds, give it back after entering Canada, then live 10 people to a 1bed condo and go work some job to get PR and sponsor their family after?

I recall when I worked at the bank kids would come in to ask for a copy of bank details + Bank stamp for rental. That way it can be verified as just printed from at the branch.

Otherwise I can spoof the numbers and print it myself.


We evicted 4 people living in a 1BR condo in our place. There's a fire hazard rule of 3 people per 1BR.