Vancouver's Real Estate Market

[GLOW]

i never filled holes (but didn't like hanging pictures to begin with so not a lot of holes anyway), do a quick clean and don't leave shit around.

i found most ppl that move in to a place do a quick clean themselves beforehand.

i believe i've always had it written in that they had to hand over the place clean and everything that comes with the house working - i.e. no broken appliances, damage to the home etc. i would think most ppl selling would follow simple courtesy, as they wouldn't want drama after the fact

[carsncars]

Vancouver property taxes for 2021: $5,158.26.

Compared to $4,779.45 in 2020.

Question - title for my home transferred to me in February. I have not actually received a property tax notice from CoV yet, but when I look up my property tax balance on the city's website I see a current balance of ~$300ish. Is this normal? I'd happily pay it but have no access code to register the property, since I haven't received the notice. It's listed as 2021 and not in arrears.

[hotjoint]

Originally Posted by PeanutButter

I don't know the stats, but I would say budgeting is not very common place.

I live pay-cheque to pay-cheque, in the sense that whenever I get paid, the entire amount is allocated to various accounts.

50% Joint
15% Personal savings
15% Investments
10% Emergency fund
10% Entertainment/vacation fund

What do you couples do? Do you pay expenses separately, do you put all the money into one joint account, do you go 50/50 like we do? Just curious

We mostly do 50/50 or it's 60/40 me paying more because I make more. We just put bill money into our joint account and pay it when the time comes. I do all the budgeting because she sucks with money haha. We have our own bank accounts that we keep our own savings in. When we go out and eat, I'll pay then she'll pay next time. We never question each other when we spend money on ourselves. It's pretty equal and fair for the both of us. I'm pretty hardcore when it comes to saving and budgeting. I have an excel spreadsheet that I use to track spending/savings/investments etc.. I know what I'm worth down to the penny

[chinook79]

Originally Posted by GLOW

i never filled holes (but didn't like hanging pictures to begin with so not a lot of holes anyway), do a quick clean and don't leave shit around.

i found most ppl that move in to a place do a quick clean themselves beforehand.

i believe i've always had it written in that they had to hand over the place clean and everything that comes with the house working - i.e. no broken appliances, damage to the home etc. i would think most ppl selling would follow simple courtesy, as they wouldn't want drama after the fact

I don't like being picky but there's literally 20+ holes on just one side of the wall where they had their TV mount. The washer leaked sewage smell and there were dog hair everywhere, not to mention they left some chewed up dog toy behind... There's actually mold build up on washer.. Oven door is so filthy with years of stains that looks like never been wiped once for decades..
Boy did they fool me with home staging.. Never expected seller to be so filthy..
I think I now understand how you would feel when you wake up after the wedding day to find someone unrecognizable sleeping beside you seeing bride without makeup first time...

[blkgsr]

you never noticed any of this when you were looking at the house?

maybe not the small holes in the wall from pictures but you didn't check the oven or at the washer?

[hud 91gt]

It’s amazing what you can miss during real estate purchases these days. 5 minute walk through a staged unit. Insert offer over asking. 3 months later see what you actually purchased. Lol.

[Hondaracer]

The oven thing is kinda moot imo

I just sold a range I had for 4 years the thing was mint and we used the oven sparingly always wiped it down cleaned it up etc.


The oven door I couldn’t get clean even with barkeeps friend etc. Maybe if I had run a cleaning cycle but it was unplugged by the time I went to clean it. Very hard to get the inside of an oven clean without major elbow grease and heavy chemicals

[Rallydrv]

Maybe cov or province should also freeze property tax increase just as they froze rent increase. Fu, not made of money

62xx vs 64xx this year

[68style]

^ Well, I think the rate of inflation is worse than a $200 rise on the whole year to be honest

Nevermind your property has gone up like crazy... next year is going to be real ugly when the current market valuations kick in.

[winson604]

Originally Posted by carsncars

Vancouver property taxes for 2021: $5,158.26.

Compared to $4,779.45 in 2020.

Question - title for my home transferred to me in February. I have not actually received a property tax notice from CoV yet, but when I look up my property tax balance on the city's website I see a current balance of ~$300ish. Is this normal? I'd happily pay it but have no access code to register the property, since I haven't received the notice. It's listed as 2021 and not in arrears.

Just call 3-1-1 bruh.

[PeanutButter]

Originally Posted by donk.

Property taxes are pocket change in comparison on your yearly ROI on the property

Pomo 2100$ before grant, 700sqft condo, value up 40k from 2020 (asses)

Vanc 950$ before grant, 500sqft condo, value up 20k from 2020 (asses)

The only issue with this is that it's difficult to realize those yearly ROI's. It's not like a stock where you can sell a portion of it to pay for something, with a house, even if it goes up $100k, to get any money out you'll have to take a HELOC.

Originally Posted by quasi

...
I put about 65% of my paycheck in our joint account my wife does well I'm not sure what percentage she puts in but I know it's a lot less than me but to be fair she makes a lot less.

From our joint account all the bills, mortgage, groceries, utilities, taxes, house insurance ect are paid by diverting money to different accounts.

The rest of my money I do with what I want, pay for my truck insurance, investments, entertainment, savings, vacations whatever.

If we go out for dinner I usually pay, if my son needs clothes I usually pay, if we're going on a family vacation I pay for all of it, if something breaks around the house like last month when we needed new washer dryer, again I pay.

This has worked for us for over 20 years, if I want to go to Vegas with my friends or buy a motorcycle I use my money and it creates no issues between us.

Just curious, if your partner decides to go on a trip, do they use their own money or do they use the money in the joint account?

[Rallydrv]

Originally Posted by carsncars

Vancouver property taxes for 2021: $5,158.26.

Compared to $4,779.45 in 2020.

Question - title for my home transferred to me in February. I have not actually received a property tax notice from CoV yet, but when I look up my property tax balance on the city's website I see a current balance of ~$300ish. Is this normal? I'd happily pay it but have no access code to register the property, since I haven't received the notice. It's listed as 2021 and not in arrears.

depends on what you mean by transferred? if sold and settled, look at your paperwork. your notary/lawyer needs to make sure its cleared before the transfer, (or they deduct balance amount from your payment) also note believe feb-march is the first part of the ppt due .

[quasi]

Originally Posted by PeanutButter

Just curious, if your partner decides to go on a trip, do they use their own money or do they use the money in the joint account?

She might pay, might use some money from our joint savings or I might give her money from my account.

[PeanutButter]

Originally Posted by quasi

She might pay, might use some money from our joint savings or I might give her money from my account.

Cool. Thanks.

I always find couples finances so interesting. I suspect just putting all of the money into one account is easier. I don't think I would mind so much.

[snowball]

Originally Posted by PeanutButter

Cool. Thanks.

I always find couples finances so interesting. I suspect just putting all of the money into one account is easier. I don't think I would mind so much.

Both sides need to be transparent, neither a control freak or have spending issues for it to work. Good luck!

Works for me. Wife has no issues with me spending 3k on car mods every year.

[Ulic Qel-Droma]

this topic could have its own thread. lol

what about you guys who's family has one partner who's a stay at home or makes significantly less. Like the bread winner makes 2-10x more?

[supafamous]

Originally Posted by Ulic Qel-Droma

this topic could have its own thread. lol

what about you guys who's family has one partner who's a stay at home or makes significantly less. Like the bread winner makes 2-10x more?

When I got married I was making about 2x what my wife makes (though she has a sweet ass federal gov't pension) and today I'm about 3x and the gap will keep growing b/c of our respective fields (doesn't even count all my stock options I've accrued either).

I'm probably fortunate in that my wife is the frugal one and I grew up in a household where my parents pooled their money (and my mom usually made more than my dad) so pooling our money was never even a question for me. Far as I'm concerned we're a team so everything is shared and income is only one contribution to our marriage. She bears way more of the burden of raising our daughter and taking care of household things than I do while my job is much more demanding than hers. She doesn't attach a dollar value to all the extra work she does so I shouldn't attach a dollar value to my salary.

I get a kick out of reading Reddit's r/relationships, r/AITA, and r/relationships_advice - there are some people with extremely warped views on what constitutes a healthy and fair relationship. We're not perfect (far from it) but some people there are messed up. Take a read of that and you'll feel good about whatever decisions you make about how to handle money in a relationship.

[hud 91gt]

100% of our funds into the same account. Saying that, she’s frugal but she is a woman. I’m frugal, but I have a car problem. So we both spend equal amounts of money on stupid things but having the same account keeps us both accountable. We also have similar paying jobs too so that helps.

[sonick]

Split accounts but a shared account that we contribute equally to on a monthly basis to cover our general shared spending. I make about 75% more than her.

Also shared credit cards that get paid through the shared account, in addition to personal credit cards we manage individually for non-shared purchases.

Vacations are paid through the shared account.

[Great68]

We have a joint account. I handle 100% of it, move it around as it makes sense. She's also not a big spender, (I'm probably more guilty of that) about the biggest thing she'll splurge on is gardening supplies, so we don't really have an issue with keeping within our disposable budget.
She makes a decent salary, I make double that. There's no animosity or "I make more so I can spend more", it's the household's money.

[mikemhg]

Originally Posted by sonick

Split accounts but a shared account that we contribute equally to on a monthly basis to cover our general shared spending. I make about 75% more than her.

Also shared credit cards that get paid through the shared account, in addition to personal credit cards we manage individually for non-shared purchases.

Vacations are paid through the shared account.

This is the way to do it.

Pooling your money all into one account generally creates major issues, especially if one person likes to spend frivolously, and the other does not.

[quasi]

I should have added when I posted that although we don't split everything and I make more money than she does, she probably benefits more from the money I keep that doesn't go into our joint account than I do.

I'm cheap AF, I don't spend money on myself very often. Maybe a vacation with my friends once a year, I might save up for years and buy a vehicle. I rarely go out for dinner, with the exception of some new underwear and shirts here and there I almost spend nothing on clothes in a year and besides buying myself a new computer once every 5 years I don't really spend any other money on myself.

I think this is why it works for us because when I do spend money on myself she's almost like good for you, I'm glad you bought yourself something.

She doesn't look at it like you're hoarding money that should be jointly split, she knows when it comes down to it if she ever needs anything I'll 100% take care of her and on top of that if there is anything that needs to be done around the house or if our son needs anything I'll take care of that as well.

It's our money, it's just in my account for safe keeping.

[quasi]

Originally Posted by mikemhg

This is the way to do it.

Pooling your money all into one account generally creates major issues, especially if one person likes to spend frivolously, and the other does not.

I kind of agree with this, we've been together a long time and we generally never ever fight about money and my wife is terrible with it.

[donk.]

So whos else is single here

[supafamous]

Originally Posted by mikemhg

This is the way to do it.

Pooling your money all into one account generally creates major issues, especially if one person likes to spend frivolously, and the other does not.

Spending frivolously whether you're in a shared account or not is going to be an issue - like a friend of mine who bought a new car without getting it approved by his wife. Shared money or not, he was in DEEP trouble the moment he signed the paperwork.

My hobbies are all expensive - cars, golf, Apple products - and I also like nicer things and I spend money for them but I always discuss it with my wife before any large purchase while my wife regularly asks if I think she's spending too much. It's about respect IMO - I'm not really asking for permission to spend on stupid things, I'm asking because I know we're in it together.

Also, the longer you're at it together the more intertwined things become - eg. at some point frivolous spending endangers shared goals like starting a family, buying a home, nice vacations, retirement etc. It doesn't matter if you pool your money or not in most cases.