[Traum]

Originally Posted by BIC_BAWS

tbh, I think now knowing what I know via living through it.. I'd rather go back to renting and investing my money elsewhere instead lol. Buying a principal property as "an investment" because at least "you're not paying someone else's mortgage" was a dumb idea. Now I also gotta deal with the broken furnace, water tank, installing security systems, panel fix (cause smt blew for good and all the lights dont work lol) and pruning trees (which are a constant hazard). Do all these things on the DL and it affects your home insurance. Do it properly and it costs an arm and a leg. Renting was much easier lol.

IMO you made a decision to purchase a home / get into a house. The decision had (hopefully?) been arrived at given the best information and future expectations you had at the time. Nobody has the gift of 100% accurate foresight, so it makes no sense to fault yourself now for the decision that you've made in the past.

Had RE pricing continue to skyrocket, you'd be super thankful that you had bought your house, despite all the required maintenance and fixes that you'd have to do as the home owner.

In many ways, I feel the same as you do too. My on-going home maintenance costs are far too high, as measured in financial terms, physical labour terms, and time requirements. In perfect hindsight, when le wifey and I started looking to upgrade from our dink 700 sq-ft apartment, I should really have stretched the extra $15 - $20k on an offer for a 900+ sq ft unit at the same building we were in. That would have been enough space for our family, and I wouldn't be having the forever mortgage that I have on my back now. And had I simply got into the apartment instead of the house, I can probably afford to retire at least 10 years earlier than I would now?

But I know I can't look at missed opportunities like that. As I was saying -- nobody has the gift of foresight to always pick out the most optimal path.

Originally Posted by EvoFire

I fully expect to have to help with downpayment for my kids if it comes to it.

I am already saving into their RESP for post secondary schooling.

I'm fully prepared to have both kids live at home until their 30s. The numbers of feeding them at home isn't that bad when I need to feed myself anyways. Discretionary spending though, that's on their own.

Do I want them to be making 100k+ and be financially self sufficient? Of course. Is it the end of the world if they chose a field that matters to them but only make 60-80k? That's ok as well. As long as no one is blowing their money on hookers and blow.

Evo pretty much took the words straight outta my head. Well said.

Originally Posted by spoon.ek9

I think that used to be the case. Nowadays, you're sending them to the streets if you do that. Asian cultures it's always been pretty common for kids to stick around up until 25-30. I suspect more and more young adults of this age group are doing the same because of how high rent can be.

Don't Greek and Italian culture always look after their family too? And I am always under the impression that at least a portion of Hispanic culture also does the same.