#8983289 - 03/24/17 05:46 PM
so um...at what point do you sell your house?
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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Dear CSi, let's have a hypothetical discussion. How much money would it take for you to sell your current place?
If you made half a mil clean is that enough? If you made a million clean is that enough? Or you love where you live that you don't give a shit and would just stay the course?
Do you need more, less? When do you really start considering it?
With that said, if you do sell and get half a million or a million+ over what you paid, where do you live for the next 5 years?
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#8983364 - 03/24/17 06:28 PM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19873
Loc: Toronto
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I am happy where I am now. House is everything I want, kids are settled in school and distance to work is good as well.
I would say if you are looking to move, do it before your kid(s) are in school so that can become part of your requirements in a new house/location. Get's more complicated the further along they are.
Now if you threw stupid money at me, well I could be persuaded.
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#8983412 - 03/24/17 07:07 PM
Re: so um...at what point do you sell your house?
[Re: Hatorade]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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Paper gains mean nothing if I still need a house to live in. If I sell, I still have to buy something else. If I had investment properties, I might consider selling, but I don't so it's moot.
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist? 2006 Mazda3 Sport aka "Reality"...it really does exist...
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#8983421 - 03/24/17 07:22 PM
Re: so um...at what point do you sell your house?
[Re: Hatorade]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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There have been a few TH around that have sold. My area has gone up 30%+ over LY. That said we love the area and have no intentions to move, especially after doing the reno.
If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent?
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#8983423 - 03/24/17 07:22 PM
Re: so um...at what point do you sell your house?
[Re: Big Tasty]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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I am happy where I am now. House is everything I want, kids are settled in school and distance to work is good as well. I would say if you are looking to move, do it before your kid(s) are in school so that can become part of your requirements in a new house/location. Get's more complicated the further along they are. Now if you threw stupid money at me, well I could be persuaded. If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent?
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#8983424 - 03/24/17 07:22 PM
Re: so um...at what point do you sell your house?
[Re: SW20_MR2]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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Paper gains mean nothing if I still need a house to live in. If I sell, I still have to buy something else. If I had investment properties, I might consider selling, but I don't so it's moot.
If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent?
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#8983425 - 03/24/17 07:24 PM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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Let's stop dodging the question, i want to know what CSi would do if someone dangled a carrot of whatever size to make them twitch. Be it half a mil, a mil, 2 mil, whatever.
What's your number and what do you do?
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#8983453 - 03/24/17 08:07 PM
Re: so um...at what point do you sell your house?
[Re: Polkaroo]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Gamble your clean $1M+ (your $1M is just pure profit... I'm pretty sure you have 20%+ from your initial downpayment PLUS your principal repayment) on an underrated area. Buy several homes in Hamilton? You still have 4 years until you need to settle down on a school.
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#8983647 - 03/24/17 10:54 PM
Re: so um...at what point do you sell your house?
[Re: xza8]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 107675
Loc: Barrie, Ont,
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When I can downsize and not have to make a lateral move, or custom build. But there's no way I'm going to sell this place for like 850k and move into another place that's 850k, lol.
_________________________
-Bill The GN would OWN you, your children and your children's children. Left foot, right foot, just keep moving!!! -Jeffrey P. Murphy
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#8983721 - 03/25/17 01:59 AM
Re: so um...at what point do you sell your house?
[Re: C J Fly]
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hyper-s2k
Post Master Supreme
Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
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Won't move out of the neighbourhood until the youngest is done HS.
Would consider moving further north for bigger home or larger lot with a comparable sized home but with more space for a bigger garage) - ideally not having to top up that much more.
_________________________
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#8983756 - 03/25/17 06:57 AM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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Based on what our neighbour's house just sold for, we are close to that situation. There is no thought whatsover to sell and rent. We are considering (<10% chance) selling and downsizing, but not getting out of the market. We like the area though, so even if we were to rent, I'm guessing rent would be $2500-3000 per month for a house in this area.
If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent?
Edited by SW20_MR2 (03/25/17 06:58 AM)
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist? 2006 Mazda3 Sport aka "Reality"...it really does exist...
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#8983791 - 03/25/17 09:15 AM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19873
Loc: Toronto
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I am happy where I am now. House is everything I want, kids are settled in school and distance to work is good as well. I would say if you are looking to move, do it before your kid(s) are in school so that can become part of your requirements in a new house/location. Get's more complicated the further along they are. Now if you threw stupid money at me, well I could be persuaded. If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent?
Would have to be a mil+ to get my wife into the area she wants and the house I want. I'm not downsizing for any area and wife isn't moving any further out.
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#8983805 - 03/25/17 09:28 AM
Re: so um...at what point do you sell your house?
[Re: 87ZCSi]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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Depends where I need to access regularly be it work or in laws etc. Can I move where its cheaper and not affect quality of life? If not, just ignore and live there. Places I like to live (proper house) typically aren't reasonably priced rentals so that's not likely to work.
I guess this is what it comes down to.
Where I live now is what's i've always wanted. Walking distance to family, etc, i feel i will just downgrade myself for no reason and then be at risk of not being able to secure similar housing later.
Now if i had a crystal ball to predict a crash then yes i'd sell and then buy back in when it crashes, but if it doesn't come down in flames i'd be fucked.
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#8983861 - 03/25/17 11:16 AM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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OracerO
Post Master Sr
Registered: 10/07/02
Posts: 3949
Loc: GTA
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Doesn't matter how much money i would make on my detached if i can't use that $ to buy another home in a decent area.
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#8984331 - 03/26/17 04:17 PM
Re: so um...at what point do you sell your house?
[Re: SW20_MR2]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Paper gains mean nothing if I still need a house to live in. If I sell, I still have to buy something else. If I had investment properties, I might consider selling, but I don't so it's moot.
This!
PS: Based on sale last week of a similar unit. My $750K TH (june 2016) is now over a Mil.
again... on paper
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#8984458 - 03/26/17 07:43 PM
Re: so um...at what point do you sell your house?
[Re: Senor Eduardo_82]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Met a couple recently who have sold out of their stocks (now in bonds and cash) and sold their home for +650k from where they bought. They will rent instead for less than the carrying costs of their home. If there's a crash, they'll buy back in.
If it doesn't, they'll have a hard time buying back into the housing market such that they may be renters for life.
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#8984464 - 03/26/17 08:04 PM
Re: so um...at what point do you sell your house?
[Re: xza8]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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Met a couple recently who have sold out of their stocks (now in bonds and cash) and sold their home for +650k from where they bought. They will rent instead for less than the carrying costs of their home. If there's a crash, they'll buy back in.
If it doesn't, they'll have a hard time buying back into the housing market such that they may be renters for life.
That's quite a stretch. It will cost them more to get back in, but the odds of being renters for life seems pretty low.
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#8984884 - 03/27/17 09:18 AM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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C J Fly
Post Master Sr
Registered: 08/01/00
Posts: 5766
Loc: Tondo, Manila, Philippines
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There have been a few TH around that have sold. My area has gone up 30%+ over LY. That said we love the area and have no intentions to move, especially after doing the reno. If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent?
Hypothetical 5 year plan.
-Pay off Mortgage and debts. -Put away for both children university education in full. -Buy condo in university city where children are going. Rent out property(ies) in meantime. -Move back in with in-laws, family or rent. -Continue to make "mortgage payments' to high interest savings acct. -Bank 1M and wait for market correction or crash, downsize and buy next property in cash. -Live mortgage/debt free before 50.
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#8984990 - 03/27/17 10:45 AM
Re: so um...at what point do you sell your house?
[Re: C J Fly]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47891
Loc: T.O. - Canaduh
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There have been a few TH around that have sold. My area has gone up 30%+ over LY. That said we love the area and have no intentions to move, especially after doing the reno. If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent? Hypothetical 5 year plan. -Pay off Mortgage and debts. -Put away for both children university education in full. -Buy condo in university city where children are going. Rent out property(ies) in meantime. -Move back in with in-laws, family or rent. -Continue to make "mortgage payments' to high interest savings acct. -Bank 1M and wait for market correction or crash, downsize and buy next property in cash. -Live mortgage/debt free before 50.
_________________________
"Ban low performance drivers, not high performance cars"
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#8984994 - 03/27/17 10:47 AM
Re: so um...at what point do you sell your house?
[Re: C J Fly]
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zc911
Ferrari4Sale 😎
Post Master Supreme
Registered: 01/01/00
Posts: 16451
Loc: toronto
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There have been a few TH around that have sold. My area has gone up 30%+ over LY. That said we love the area and have no intentions to move, especially after doing the reno. If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent? Hypothetical 5 year plan. -Pay off Mortgage and debts. -Put away for both children university education in full. -Buy condo in university city where children are going. Rent out property(ies) in meantime. -Move back in with in-laws, family or rent. -Continue to make "mortgage payments' to high interest savings acct. -Bank 1M and wait for market correction or crash, downsize and buy next property in cash. -Live mortgage/debt free before 50. - buy yellow type R from zc911
Awesome plan dude!
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#8985157 - 03/27/17 12:23 PM
Re: so um...at what point do you sell your house?
[Re: C J Fly]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26904
Loc: Toronto, ON
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There have been a few TH around that have sold. My area has gone up 30%+ over LY. That said we love the area and have no intentions to move, especially after doing the reno. If you get 1M+ over what you paid, what do you do? Ignore and stay? Sell, if so what do you do about housing for the next 5 years? Rent? Hypothetical 5 year plan. -Pay off Mortgage and debts. -Put away for both children university education in full. -Buy condo in university city where children are going. Rent out property(ies) in meantime. -Move back in with in-laws, family or rent. -Continue to make "mortgage payments' to high interest savings acct. -Bank 1M and wait for market correction or crash, downsize and buy next property in cash. -Live mortgage/debt free before 50.
Nice plan, but ditch the HISA. You need to be more tax efficient with your money!!! Fuck the government.
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#8986338 - 03/28/17 10:45 AM
Re: so um...at what point do you sell your house?
[Re: Screamin Type ARGH!]
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markw
Post Master Supreme
Registered: 01/31/00
Posts: 13998
Loc: Not Toronto
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buddy at work, new baby and all trying badly to get into SOMETHING out of his basement rental. looking way out in whitby recently and had offer in last night on a place (ash st. i think?) - old ass townhome but ok shape inside... asking $425k offer $455k (they can't afford much after that) sold for...........$620k (if you see the house, WHAT IN THE FUCK, and in whitby no less???) chinese buyer (shocker ) like 6-7 ppl in the fam or whatever he mentioned lol. sucks.
Yeah, I was watching that one https://www.realtor.ca/PropertyDetails.aspx?PropertyId=17929507
It's absolutely nutty. Was told to expect 8 for my house.... 8 gets you a lot more house in different areas on Whitby.. why the fuck is my 1600sqft home at a price in line with 3000sqft houses with two garages and a lot more room.
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#8987000 - 03/28/17 04:38 PM
Re: so um...at what point do you sell your house?
[Re: markw]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45428
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buddy at work, new baby and all trying badly to get into SOMETHING out of his basement rental. looking way out in whitby recently and had offer in last night on a place (ash st. i think?) - old ass townhome but ok shape inside... asking $425k offer $455k (they can't afford much after that) sold for...........$620k (if you see the house, WHAT IN THE FUCK, and in whitby no less???) chinese buyer (shocker ) like 6-7 ppl in the fam or whatever he mentioned lol. sucks. Yeah, I was watching that one https://www.realtor.ca/PropertyDetails.aspx?PropertyId=17929507It's absolutely nutty. Was told to expect 8 for my house.... 8 gets you a lot more house in different areas on Whitby.. why the fuck is my 1600sqft home at a price in line with 3000sqft houses with two garages and a lot more room.
that townhouse for 600k is depressing af, that's worth putting a bullet in your head for.
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#8987017 - 03/28/17 04:58 PM
Re: so um...at what point do you sell your house?
[Re: Risky Business]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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Oshawa is the same shit now too. Even north oshawa....
New construction homes, offered in 2013 and completed in 2015, near Simcoe & Winchester, which is where Oshawa meets the 407 (aka 1hr to Toronto with zero traffic, unless you take 407 and then its 45-50mins)... were originally sold for 550ish new give or take.
Now selling for $1M.
dafuq
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