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10-18-2021, 12:33 AM
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#19526 | | I *heart* Revscene.net very Muchie
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Originally Posted by PeanutButter  My mom got an audit from the empty homes tax.
She needed to show utility bills in her name, internet and cable bill, and a banking document.
I think the reasoning is if there's utility usage and internet, there's obviously someone living there.
It was relatively a painless process. | I got an audit for EHT while I was selling my place. Kind of stressful at the time but just submitting what they're asking for it's not that hard at all
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10-18-2021, 06:14 AM
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#19527 | | I contribute to threads in the offtopic forum
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Originally Posted by Euro7r I got 1.20 5-year variable with TD recently | Out of curiosity, what did you receive for 5 year fixed?
Also working with TD on a mortgage and got offered 2.07% fixed and 1.28% variable.
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10-18-2021, 06:54 AM
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#19528 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by Euro7r I got 1.20 5-year variable with TD recently | Also got 1.2% from TD. Didn't ask what the fixed option was, the spread is too big to bother IMO even with the impending inflation risk.
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10-18-2021, 08:53 AM
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#19529 | | RS has made me the bitter person i am today!
Join Date: Feb 2013 Location: Vancouver
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Originally Posted by PeanutButter My mom got an audit from the empty homes tax.
She needed to show utility bills in her name, internet and cable bill, and a banking document.
I think the reasoning is if there's utility usage and internet, there's obviously someone living there.
It was relatively a painless process. | EHT is different than future capital gains tax. obviously for EHT you just have to prove someone lives there, and having active utilities and internet with use will prove that.
But for Capital gains you have to prove that YOU live there, not just some random person.
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10-18-2021, 09:35 AM
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#19530 | | private modder
Join Date: Feb 2002 Location: North Shore
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Originally Posted by PeanutButter Is there a website that lists all of the pre-sales coming up in GVR? | A lot end up here. https://nexthome.ca/ | |
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10-20-2021, 08:08 PM
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#19531 | | Rs has made me the man i am today!
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Property Type House
Style of House 2 Storey
Bedrooms 3
Bathrooms 3
Listing Date 2021-Sep-29
Sold Date 2021-Oct-04
Sale Reported Date 2021-Oct-15
Days on Market 5
Sold Price $2,466,000
Asking Price (Final) $2,499,000
Asking Price (Original) $2,499,000
Size of House 1,759 sqft
Price per SqFt $1,402
Basement Crawl
Lot Size 0.05 ac
2,250 sqft
Lot Frontage 25 ft
Lot Depth/Size 90 ft
Age of House New
Property Taxes $7,520.28 (2021)
1183 Lakewood (right in between Via Tevere and Columbus Meat Market).
House sure looks nice but this is a crazy selling price for less than 1800sf on a tiny lot.
Versus:
Property Type House
Style of House 2 Storey w/Bsmt.
Bedrooms 7
Bathrooms 7
Listing Date 2021-Sep-02
Sold Date 2021-Oct-11
Sale Reported Date 2021-Oct-20
Days on Market 39
Sold Price $2,925,000
Asking Price (Final) $2,988,000
Asking Price (Original) $2,988,000
Size of House 3,378 sqft
Price per SqFt $866
Basement Fully Finished, Separate Entry
Lot Size 0.09 ac
3,904 sqft
Lot Frontage 32 ft
Lot Depth/Size 122 ft
Age of House 3 years old
Property Taxes $6,803.51 (2021)
126 E 52nd Avenue.
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Current: 2019 Acura RDX
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10-20-2021, 08:17 PM
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#19532 | | I have named my kids VIC and VLS
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damn.... 2.5 for those Lakewood places eh.. my wife's grandma lives a few houses down.. I know them well
Personally I find that area wayyy more appealing in almost all aspects over the E 52nd one, but yea those are tiny lots
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Dank memes cant melt steel beams
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10-20-2021, 08:26 PM
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#19533 | | Rs has made me the man i am today!
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Originally Posted by Hondaracer damn.... 2.5 for those Lakewood places eh.. my wife's grandma lives a few houses down.. I know them well
Personally I find that area wayyy more appealing in almost all aspects over the E 52nd one, but yea those are tiny lots | yeah that Lakewood area is real nice - reasonable amount of amenities, very walkable, low traffic. It's got a nice lived in feel but man, that price for a tiny lot is nuts. Bet the garage is so narrow that it's not really usable.
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Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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10-22-2021, 02:05 PM
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#19534 | | Everyone wants a piece of R S...
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Originally Posted by westopher So basically you could avoid the taxes if your first home is a cardboard box. | Can confirm. First home I recently bought is a cardboard box  | |
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10-22-2021, 02:32 PM
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#19535 | | Rs has made me the woman i am today!
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Originally Posted by Oshiguru Can confirm. First home I recently bought is a cardboard box | Ok it's not that bad, I would say it's at least 2 cardboard boxes  | |
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10-22-2021, 02:35 PM
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#19536 | | Everyone wants a piece of R S...
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Originally Posted by EvoFire Ok it's not that bad, I would say it's at least 2 cardboard boxes | Two cardboard boxes with one bathroom. 
I definitely paid a premium to my unit but i'm glad I got a 2 bedroom in a newer concrete tower in White Rock for <525k to be able to save a bit more on the PTT.
1brs/studio units around the area (albeit with better views) are selling now for more than what I paid.
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10-25-2021, 11:56 AM
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#19537 | | OMGWTFBBQ is a common word I say everyday
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CIBC says that down payments gifted by parents average 340K in Vancouver: https://www.ctvnews.ca/business/pare...port-1.5637498 | |
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10-25-2021, 12:22 PM
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#19538 | | Orgasm Donor & Alatar owned my ass twice!
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Gee... that is barely enough for 1/2 of the requisite 30% down on a typical Vancouver single detached home...  | |
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10-25-2021, 12:36 PM
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#19539 | | RS has made me the bitter person i am today!
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Lots of that "gift" usually come from borrowed money, from helocs so it's basically free money from capital appreciation.  sweet sweet capital appreciation
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10-25-2021, 01:34 PM
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#19540 | | in the butt
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My parents gift was 15k 
That 340k would have been 90% of my purchase price on my condo 5 years ago lol
__________________ Quote:
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Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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10-25-2021, 01:39 PM
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#19541 | | OMGWTFBBQ is a common word I say everyday
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The amount is jarring, yes, but the notion that parents need to help their kids seems to have finally gained mainstream acceptance over the past couple of years.
The reality is that immigrants have long been doing this, which explains why median household incomes aren't really a good metric for determining affordability.
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10-25-2021, 01:50 PM
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#19542 | | RS has made me the bitter person i am today!
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Asians have been doing this forever, it's in the culture. Unless you're white no Asian family is gonna kick you out at 18 
The lucky ones have presales bought and paid for when they hit 20s.
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10-25-2021, 02:02 PM
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#19543 | | Willing to sell body for a few minutes on RS
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Sorry but I'm not gifting my kid money for a place. He can stay at home as long as he wants and I'll help him with a car for getting to and from school and I'll help with his University as much as I can.
I think that's pretty fair, you want a place you either move somewhere cheaper or wait till me and your mom die and you can do whatever you want with the money/property you get.
Speaking on extended family, my mom is sick right now, part of me is wondering if I shouldn't have sold my last place because it was better setup if I wanted to bring them here to live with me, no room in my current house. Sucks when your parents get old, even worse when their halfway across the Country.
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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10-25-2021, 03:02 PM
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#19544 | | I *heart* Revscene.net very Muchie
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My parents gifted me zero. 3 apartments, 3 down payments/closing all on my own. Except for the current place as my wife did help out. My ex-gf however, parents gifted her older brother $600K for a SFH. His house was 1.2 back then (2011) around Main and 42nd. Gifted her $250K for her own apartment (2012) around main and 33rd. I think her place was $400K.
Edit. This was all cash not heloc. Her dad owned a popular chinese restaurant here and her mom's family in HK had a chain of arcade playdiums. Not rich by any means but money was never an issue. Meanwhile I'm chinese and my family like most in East Van (like east east/ Van Tech area) usually had some sort of money struggle
Last edited by 6thGear.; 10-25-2021 at 04:44 PM.
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10-25-2021, 04:01 PM
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#19545 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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For my kids, I feel like it's my duty to provide housing for them. It's next to impossible in Vancouver, but i'm still going to try.
I'm selfish in the sense that I do not want my children to move away from us. If I get them housing here, that pretty much secures they'll stay in BC.
I couldn't imagine moving away from my parents.. I hope my children feel the same when they grow older.
My goal is to get two condos. One for each kid... then I can enjoy my life.
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10-25-2021, 04:11 PM
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#19546 | | Rs has made me the woman i am today!
Join Date: Sep 2006 Location: Vancouver
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I've gotten to the point in life to where I'm really thinking what the purpose of life is. Is it really to grind your ass 24/7 to pay off a mortgage til your like 55-60 and then what? Moving away from parents made me think, what the hell are my parents going to be doing with a house with two people living (it gets lonely and quiet). Some may say they can downsize and take the money to do things (they don't like spending money, super simple life). The parents house eventually one day will be passed down to me, I have put some thought into consolidating and getting aa more bigger house and live together with parents. I can see them, they can take care of my kids when I have kids, I can go buy the Porsche LOL, life is good LMAO.
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10-25-2021, 04:32 PM
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#19547 | | in the butt
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Originally Posted by PeanutButter For my kids, I feel like it's my duty to provide housing for them. It's next to impossible in Vancouver, but i'm still going to try.
I'm selfish in the sense that I do not want my children to move away from us. If I get them housing here, that pretty much secures they'll stay in BC.
I couldn't imagine moving away from my parents.. I hope my children feel the same when they grow older.
My goal is to get two condos. One for each kid... then I can enjoy my life. | Id say 80% of my friends were eager to get away from their parents, including myself
Maybe this is a rare scenario
Buying them a place to live, is just that. They rent it out, and move to x global location
If you want your kids to stay around and be more active in your life, then you need to make sure you end up on their good side. Neutral doesnt cut it
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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10-25-2021, 04:40 PM
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#19548 | | Rs has made me the woman i am today!
Join Date: Sep 2006 Location: Vancouver
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Originally Posted by donk. Id say 80% of my friends were eager to get away from their parents, including myself
Maybe this is a rare scenario
Buying them a place to live, is just that. They rent it out, and move to x global location
If you want your kids to stay around and be more active in your life, then you need to make sure you end up on their good side. Neutral doesnt cut it | A lot of those that get away typically don't have a great relationship with their parents. "Independency or getting away, should that cost $1 Million LOL". By time you pay that shit off, you're old and didn't get to really enjoy life at all as all we did was grind to pay off the place. I get there are pros and cons and there's never a fit for all. Just some thoughts I've been thinking as my parents get older.
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10-25-2021, 04:48 PM
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#19549 | | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
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Originally Posted by Euro7r I've gotten to the point in life to where I'm really thinking what the purpose of life is. Is it really to grind your ass 24/7 to pay off a mortgage til your like 55-60 and then what? Moving away from parents made me think, what the hell are my parents going to be doing with a house with two people living (it gets lonely and quiet). Some may say they can downsize and take the money to do things (they don't like spending money, super simple life). The parents house eventually one day will be passed down to me, I have put some thought into consolidating and getting aa more bigger house and live together with parents. I can see them, they can take care of my kids when I have kids, I can go buy the Porsche LOL, life is good LMAO. | Good on you to think that. I and also my brother have ran that idea past our parents but I have absolutely no patience with my parents and can see myself killing either me or them or both. lol.
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10-25-2021, 04:53 PM
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#19550 | | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
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Originally Posted by Euro7r A lot of those that get away typically don't have a great relationship with their parents. "Independency or getting away, should that cost $1 Million LOL". By time you pay that shit off, you're old and didn't get to really enjoy life at all as all we did was grind to pay off the place. I get there are pros and cons and there's never a fit for all. Just some thoughts I've been thinking as my parents get older. | I was gonna say the same about relationships with the parents, as I don't have a good one with mine. I think most of our immigrant parents when they came here, all they did was work their ass off to pay for the mortgage/rent/food on the table. They never did get to enjoy life and also grinded their whole lives but that was all just so their kids IE us can have a good life and not have to grind like they did.
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