Quote:
Originally Posted by JDMDreams
I read something about Vancouver mandating AC in all new builds in 2025.
Gerbs why are you selling, didn't you just buy? You're gonna pay elevated price to rebuy locally, and waste realtor fees, and pay property transfer tax. Also rates are like 4% if you want fixed.  |
Yeah, just bought.
I got kicked back $4.5K for buying and negotiated $3.5K + free notary for selling so I won't lose too much on realtor side. Property tax was partially waived with first-time home buyers.
My payments in 2.5 years will be $3k/month @ 4% for a 15 year old building 1BR, Currently I'm paying like $2,250 @ 1.49%. This will be way more if rates goes to 5 - 7%. Honestly, that spooks me and I didn't wanna be in a position where if I get laid off I'd be carrying close to $5.5K/month including living costs while struggling to find high paying jobs to support this.
I figured it's better to sell and go back to roommate for $1 - 1.3k/month instead. The equity from selling + my original downpayment would net enough to pay for roommating from GIC's alone, let alone index funds or REITS. But this is all speculation, I'm hoping no one buys my place for $700K lol.