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shoebox condo 500 grand. fees grand a month. taxes 5 grand or more a year. resale 300 grand if your lucky. no thanks

I noticed that you didn't mention the real estate agents fees.

How come you're not showing realtor fees as a cost? Aren't realtor fees paid by the seller? That means those numbers get even worse doesn't it?

I think it's unfair to include things like land transfer tax or property tax because if you bought something else, you'd have to pay those too (unless, of course, you're living somewhere rent free or going homeless or going with the van lifestyle).

Problem is not the down payment but high maintenance fees these condos charges.monthly mortgage payment plus maintenance fees become too much for average person to afford.

Bought over-priced to live in pollution and crime & drugs ridden area.

Why did you leave out real estate fees of 5% of the sale price plus HST? That's an additional $39,776 loss!

Thanks for the breakdown! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

Your math sucks, sorry.

I regret clicking on this video .

The lower the condo price the older the condo and highest monthly condo charges running in thousands. Total loss man.

Rent and invest your 30k plus your 900 extra each month after 30 yrs you would have 1.5 million

Condo fees alone will kill this budget.

😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆, that's all I can say about Real Estate Investors in Canada

First condo u mentioned sold for 500k at such a huge loss cuz the maint fees are over $900+ even with hydro inc thats insane for a one bed

You also don’t know how much someone had to spend on repairs or other hidden costs which means they’d lose more

I actually want to do the opposite. I want to put down a very large deposit so I don’t pay a large amount more per month than what I pay now in my rent controlled apartment. Does that sound crazy?

I don't understand this video. How do you buy a place for $500k with $30k down when a resale property requires 20%? That's $100K. Even a precon usually requires a 15% minimum. Please elaborate. I don't know many people making over $72k in Toronto even after 15 years of working. If that's true, I'd like to know what they are doing.

My daughter is 10. Is it worth buying a property now so that she’ll inherit it in 10-15 years? The renter can pay down the mortgage until then

⚡️ QUESTION ⚡️ Are $500,000 condos worth buying in Toronto? 🤔

These did not really lose money considering they lived for free for all these years.

There was another big loss number not included.. the 5% sellers fee to the Realtors.. so at 750k another loss for seller of $40,000 with taxes..

The most I would pay for something like that would be 75K if no other expenses

You also need to factor in the time value of money for the down payment. Meaning if you would have invested the down payment in a GIC or equivalent Bond you would have earned interest - but you missed out by putting it into a condo or other real estate investment. Missed Opportunity Cost is a real thing and means even if you sold a property for exactly what you paid for it you lost money. When you factor in all the continuing costs of real estate investing (fees, taxes, etc.) plus the opportunity costs of the down payment, and inflation you start to see that most real estate investing should be left to the REIT's and not mom and pop investors.

You didn’t add rent if it was rented , interest plus extra write off. If it was owner occupied even then you need to add rent because they would have lived somewhere else.

Probably have to pay Trudeau some capital gain tax as well if that was an investment property. I don't know why people think real estate is a good investment in these times. Maybe during the early 2000.

Content is good but you talk way too fast!

Im only half way thru this video and you have blown my mind with these numbers. I'd have thought that anyone who bought a condo before 2022 would be sitting on 100s of thousands in profit. Utah gonna be a bloodbath in 2026 when renewals come along at higher interest rates.

Wrong and stupid math! Intentionally misleading bad tuber!

Excuse me how is it a loss if he lived in that location. I pay $3300 a month rent how much did I loose in 5 years? Count that smart ass

If people didn’t continue buying when prices were astronomical in 2019-2021 then they would not be stuck now with these condos that they can not sell.

Interesting, but the calculation is incomplete without including what it would have cost to rent the same unit for the same period of time. In the 3rd case, the seller ‘lost’ about $30k over five years. Seems unlikely he could’ve rented it for only $500 a month. More like $2500 x 60 months = $150k! So the purchase ‘saved’ him $120k.

It was super cheap living, so cheap that they could have built up a large savings account over those five years.

Why should property taxes and condo fees be included in your calculations at all? They are the cost of living more than a property cost.

You’re a good content creator 👍👍

Enjoying your insights 👍👍 Binge watching

👍

Good morning Fred Happy New Year

Speculators , you need to analyze the numbers today when you invest

Your numbers are misleading as a lot of the comments show. If you want your channel to succeed you should factor all the numbers in, not only those that help your argument.

This is why world needs a dose of Red Pill, family values, big families, union, big house hold incomes, big houses and affordability, this "I'm liberal and independent" bs has led to every single economic failure across many countries

46000$ + Money losing power due to inflation!

I love it when people lose money on speculation in Real Estate. IMHO, access to affordable housing should be a right in Canada (note I’m not saying home ownership) and housing should not be part of the investment speculation universe any more than water should be. To make this happen the 3 levels of government must: 1. Find regulatory ways to accelerate and expand the supply of new housing stock 2. Financially incent private developers and property managers to build rental apartments 3. Get out of the public housing business and instead directly subsidize rent for low-income individuals allowing them to locate near to a job 4. Prohibit foreign ownership of single-family homes and condominiums not occupied by the owner or immediate family 5. Prohibit ownership of single-family homes and condominiums by numbered companies 6. Prohibit ownership of single-family homes and condominiums used for Airbnb and other such platforms 7. Implement an annual capital gain tax on single-family homes and condominiums being used as rental properties on the in-year capital gain on the property. This tax would be 10% in the 1st year and go up by 10% each year until it reaches 100% of in-year capital gain. Passing the tax along to renters will be disallowed. Certain accommodations would need to be baked in e.g. 2nd and additional properties used principally by the owner and not rented to a tenant would be exempt. We must get speculators and hotel operators out of the housing market.

You don't have to pay real estate commission when one sells? Not a word mentioned. Also one can select a shorter amortization to put more $ towards principal. This video is total rubbish.

Strata fees are rediculus. Fat too high.

A lot of Ponzi schemes with condos.

What hurts more is the 5% real estate fee with HST on that.

Politicians and Government have the audacity to talk about AFORDABLE HOUSING, all the while they are pocketing 1/3 of the purchase price. Money for nothing chicks for free. In Ontario there is no such thing as affordable housing period.

Even if i was rich i wouldn't buy a condo for 700k its really not smart 😂

Fred, you need to calculate the cost of rent for 5 years that the owner saved. If paying a modest $2500 a month, the owner would have a housing total cost of $150,000 over 5 years.