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Originally Posted by Gerbs
I prefer leasing a BMW 320i for $600/month to flex on a budget  |
You doing it wrong if you are paying 600/m for a 320i LOL
Quote:
Originally Posted by Gerbs
I think what stresses me out the most is that people around my age think that housing will be affordable once they finally make $70,000 - 100,000 a year. They have no savings plan on how they'll save their $100k-150k downpayment. They also think they'll be moving into a 600 - 700sqft brand new 1br condo in Downtown Vancouver, Burnaby, or Richmond with that type of income.
Not sure if it's the general population that is delusional and uneducated on the affordability or just people I've talked to when it comes to how much house they can actually afford. The nail in the coffin is when they realize they can't afford it and the bank of mom and dad just drops the $300k down payment so they can qualify.
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There are people who are 30 who think like that. 70k a year as a single dude really isn't much if you need to pay for all living costs on your own and you want a fancy car.
It only works if BoMD has that much money to give you. Most parents I know don't have 300k just kick around like that unless they sold their house.
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Originally Posted by m4k4v4li
any recommendations on realtors? DM me
Also, anyone have experiences using friends as realtors? I've been advised against using friends as sometimes it complicates the relationship (depending on how good friends you guys are)
then again I'm thinking, if I'm going to pay someone why not support a friend, just weighing the pros and cons
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Pretty much what others have said, it needs to be someone you can lay out the ground rules on and can't fudge things through.
A friend of mine went through a mutual friend as a realtor. This mutual realtor friend wasn't clear on things and at the end of the day, I think it hurt their friendship as both sides felt like they got shortchanged.