Congrats again ! Amazing content as usual. Add a con for new build - Atleast for families with school going kids . Newer community means new school which can be a con as it can take few years for school to get on its feet . Also few neighbors , so for kids can be difficult.
@@Potatotalkies wow...u guys are my inspiration...i wish u all the best.. may u sooooon have a house, and once we get an ITA at crs 468 and then a PR, we will see u super soon for a big thankyou and a big size of coffee :)
7:40 I don't think you should say definitely, my uncle bought a detached house from someone (assignment sell) who booked a house for $1.02M from the builder in 2017, the housing market dipped in 2018 and he had to do the closing but he couldn't and had to sell the house to my uncle for 900k and lost $120k to the builder as a downpayment. So doesn't always increase...
Thank you for all the information. The pros and cons piece was super helpful! Kitchener Waterloo is a lovely place to settle. I moved right away to Waterloo from India two years back, renting an apartment, day to day groceries, lifestyle, job hunt, spending time in nature, every aspect has been way smoother than I could have imagined. Great decision and good luck with your move!
I live in Kitchener. I just sold my semi detached home (1983) for 60k less than what my new construction with all upgrades. We had 53 walkthroughs and 20 offers. It was intense. Definitely buy a new construction if you can afford to wait. Elmira is a great small town just north of Kitchener worth looking at.
Congratulations guys . Happy for you. We get motivation by looking at ur hard work. And ya u guys really does a great job when sharing info with lots of research hats off
I tried to jump this house buying stream couple of times but rich buyers kicked me out every time. Eagerly waiting for your next video, thanks for a very good and researched content. You are doing wonderful work. God bless you
Great job guys!!!! 👏 Many congratulations 🎊 and I guess that simplicity & the earthiness with which you create the videos is simply superb and definitely a source of inspiration and motivation to many ppl who have moved to Canada lately. Hope to be part of your next set of milestones through this channel...
There are enough jobs and opportunities in kitchener.. and our reasons for buying in kitchener are different.. we would eventually want to get into our own business full time..
As your well wisher and a follower of your channel, I would like you to consider the below points. 1. Have you considered that new construction lots are way smaller compared to resales. New builders try to cramp as many houses as possible in the lots, thus very little gap between the houses. It is the land that is more valuable than the structure on the top. You can find how a small lane sold for a million dollar in Toronto . 2. Has Navjot considered how brutal the commute to Toronto, could be when wfh ends? Unless you have made a deal with your employer for a permanent WFH. 3. The current hike in prices in the suburbs is fueled by low mort rates , wfh and the desire for more space. Real estate doesnt always go up. If you signed an agreement for 700K now and by the time you close, if the house value goes to 650K as per bank appraisal, you will have to pay the 50K out of your pocket. This is an uncertainty that comes with preconstruction. I know, I know ontario real estate is resilient, but no one knows how things will play out when vaccine is here. 4 . Have you considered getting condos downtown? Condos are pretty much a buyer's market right now and you can get great deals. Never buy something when it is on the top of the market. If you buy condos now,you can use it as your residence thus saving your rent. you can make a great return, when condo prices go up again when vaccines are here and immigration is back. Think about the Airbnb and long term rental opportunities this can bring as opposed to a big house which wont generate any monthly income. 5. And a genuinely curious question. Doesn't the builder ask for Bank pre approval ? Will you qualify for a big enough mortgage pre approval, when Simran is out of work right now.
All great points are great and we will discuss all of these in our coming videos... if you know anything about our research, you would know that I got all of these and more figured out already;)
Brother...just by signing on a pre construction deal does not mean you have all the experience in real estate...the previous offers u made on a resale was a multiple listing....please research what multiple listing is...now...do u even know what assignment is with pre construction? Do you know about HST rebate? Did u know that this amount is included in your purchase price and builder makes you sign documents so that the rebate is redirected to them and not you...did you know that there is a tentative occupancy date and closing date and between that time period you have to pay the builder occupancy fee for each month...did you know that city charges development charges to the builder and then upon closing builder will have you pay for those development charges...did u know that if u want to sell on assignment then builder charges u assignment fee and also legal fees..builder will also at many times take full year tax in advance (you will also get a tax bill from city afterwards)...builder only does this to cover themselves in case the tax bill comes to them, this amount will be in thier trust account and you will have to reach out to your closing lawyer to retrieve those funds once u receive a tax bill and you will have to pay that on closing along with land transfer tax of which some part will be instantly rebated...the only thing you got right was Tarion warranty but sad part is that you didn't even mention the word Tarion...btw the warranty is 2 years on any little thing...7 years for major structural damage...u boast that you know your stuff and did your research but the truth is that you are not giving people all the information...i have bought pre construction before...sold on assignment...purchased on assignment and then closed with builder...i have also bought resale and closed resale...and let me tell u...people save a lot of money on resale and its a lot simpler...no idea why you misguide people when u have been in Canada less than a year and have no real estate experience...jumma jumma 8 din nahi huway aur inki PhD ho gai real estate mein...I am in the mortgage field and I know 10 times more...but i dont publicly give my opinion because I don't want to misguide people...take care man
Have seen few of your videos! They are excellent and, for someone who's fairly new to the country, your knowledge about local things is pretty darn good. Btw, Congratulations on your new home! Also, Doon south is an excellent area and I'm sure you would enjoy living there.
Nice content.Keep up the good work. To add a few points related to the subject of the video: 1. The government provides a 10% down-payment assistance for first time buyers of a new house construction which can help you in avoiding mortgage insurance. 2. One needs to account approximately 5% of the house value as closing cost at the time of house closing that involves a final statement of adjustment by the builder. 3. One should also consider the probability of the project being cancelled by the builder and so more the reason to do a proper research and past project delivery of the builder. 4.Due consideration to be given that the owner do take into account that the person on title is eligible for financing at the time of closing. So, as a back-up one needs to check the inclusion of an assignment clause in case the person does not want to or cannot close the property for any unforseen situation. Hope this helps. Cheers!
just curious to know if you live in Kitchener and one of you get a job in Toronto ....are you guys up for a commute ? Besides I am sure you already discussed it but are you guys ready to take on extra responsibilities of shoveling snow or cutting grass ?
1. If all goes well, we will have our own business by the time we move into the new house :) if not, there are plenty of jobs in kitchener-waterloo 2. We won't move until 2022.. so we got time to be prepared to take up the responsibility:)
@@Potatotalkies what business are you talking about? The TH-cam? I think you said you’ll talk more on that in next videos. I’m with 476 stuck in the pool thinking agaey kaise plan karu and then I look at your videos and feel you have already sorted it for many of us in some way. Like given us the direction. Coz many of us are not good with research nor have partners who are great with all this. So coffee in Sha Allah toh banti hai!!
What about 13% HST? Is that not additional to your price of new price? Or is it included? Also you did not cover that new house has all basic things and every thing else has to be renovated later like kitchen. Also you cannot have fence in backyard for 1 year or so after possession. Also you have to spend full money on basement as its unfinished in new house and probably you can do that only after some time of possession. Thanks for video otherwise for your point of view.
Hello from Australia. Very similar set up with Canada in terms of house situation. Just want to give few tips.. upgrades is where the builder will earn huge margins. Anything small thing you want to change will cost lot more. If you want for instance ceiling height from 2.4 to 2.7 feet they will charge you . If you want to get rid of carpet they will charge you So if you sum total of all the upgrades you actually pay a lot more than what they sold it you for The other con is if you do price per sq feet it is actually quite expensive The other other con is area is not established so sometimes they don’t develop roads or other infrastructure
Bang on video! Given the research you guys do and your determination to buy a house soon, I usually wondered why you guys were not considering buying a new property...and here you are :) Great decision! Look forward to your future videos on this. Our best wishes (me and my wife) are with you.
Guys do ask the additional closing cost of new construction. Usually builder charges extra for sodding, tree planting, driveway, utility hookups and at least in GTA then appliances are not included or even if it is included they are not good. Also they do charge more for any minor changes like in electrical and plumbing. Another thing is tarion 7 year warranty is for structure of the house. Plumbing electrical is only 2 year. You will be asked to pay for premium of this tarrion warranty. It will most likely be more expensive than resale house.
You guys are doing very well and making realistic and logical videos on practical things. Kindly make a video on the profession of Pharmacy in the field of industry, research and Pharmacist.
OmG guys . We had decided to find a house in Kitchener and registered almost all builders we found there and by evening u guys have posted this video... I am thrilled . We are looking for new construction houses there
Congratulations guys, just to add since you do not have a child, the biggest issue with upcoming area is the school. If you evaluate, home with a 8+ school rating will be way over a house with 7 or less school rating in the same community. But you guys are doing a great job...
Another con is many amenities like AC, fencing, water sump are to be done by you. In 0-5 year construction, previous owner have sorted them all.. like our’s 😊
Congratulations on your new milestone in life. This is one of the biggest purchase you have made in Canada and in your life. God will help you and make your path easy. Just to add here is its not 20% down payment there are other payments associated with it e,g closing cost which includes lawyers fees, land transfer fees/cost, moving cost(i build that in my closing cost). So when you do your math for down payment make sure you do your finances or make your target of saving 22% (conservative approach) of down payment. Depending on the builder and trim of the house you are getting you may need to get appliances in the new house. E.g some builder do give you heating system (out sources by other company and you need to pay some monthly amount for maintenance), BUT you may need to install AC unit which is not part of the new build houses. So please go through package as what is offered to you or what you have signed up for. Secondly, if builder is offering you upgrades go for that as if you do the upgrades you have to spend more but if you do builder upgrades than its built to you mortgage.
another thing is 7 years grantee is not on all of the stuff. Its for structural, electrical another items its less then that. Do check with your builder.
Hello to the best vlogger couple I’ve come across! I have to break this to you but my husband and I were really inspired by your videos and as coincidental as that sounds, we aspired to get a house in Kitchener and we DID it! Would love to thank you in person and pay our compliments to you! Would love to hear back from you!
Congratulations !!! For later possession homes (1~2 year down the line) , do we need start paying for mortgage loan immediately ? Or after possession ?
Went through the video , one major risk of buying a pre construction is that your circumstances may change after 1 year or so , you may not be able to obtain a mortgage from the bank. That is the most important risk one should consider before heading that path as one cannot recover the down-payment money and assignment sale is very difficult process . I can say from my experience as I own 3 properties of my own in Toronto.
Congratulations guys! That’s a great news and the right decision. Now I am curious to see which bank you go to get the lowest rate mortgage. TD has been the number 1 in low interest rates and RBC is always good in matching it. All the best
Awesome!! Congrats and All the best! Can you please tell us which app/ website do you use to look at the pre constructed sold houses shown at the start of the video? Also are you going through an agent?
But that does not help much as the maximum purchase price is capped at only 4 times your annual income. Trudeau is planning to increase it to 4.5 times but still not enough to buy a place in GTA.
Work from home will not be permanent. What will happen when we start working from office? Will buying house outside GTA or far from Toronto beneficial in the long run?
Hey Great Video, I wonder since you are a first time home buyer you may want to use the CHMC's First time home buyer Incentive program. Apologies If you have already discussed that in this video or a previous video.
Bhaiya ak baat hey Viedo nahi uploads kar raheho to aj Hi bol ti hu ..... ( Canada me Suzuki Hayabusa or Kawasaki Ninja h2 HEY ) or price kitna hey plz boliya
Congratulations both! I wait for your videos. This is the first vlog that I follow.You guys speak with the intent to help which all your viewers can feel; so, biggg thank you and keep sharing awesome stuff!!! 😉😃👍
So happy for you guys, I am a real estate consultant here in Delhi and I always happy when someone buys a house and this time its you...you guys gives a lot of hopes to us to immigrate to canada and we have our IELTS in jan 2021 and we will be a step closer to immigrate 😬
I also invested my money in a house rather than the stock market to own an asset and build equity. Bought a 4 year old house in Guelph and I could a little luck was on my side so got the place below asking price with conditions I added in the offer were accepted as well. I did look at new construction homes as well but builders were giving possession only in 2022 and I wasn't ok with paying more rent for a year and a half since my 20% was ready. My next home would most probably be a new construction as I can use the equity from the current one and use that as down payment for the next few years down the line.
First of all congratulations 👍 I have been watching your videos lately and you both are doing a great job. I can relate to myself with your journey. Best wishes for all you do.
@@Potatotalkies looking forward to your next vlog.. I am yet to check Blue Springs myself.. by car it’s not that far from our current apt.. also area looks promising on papers.. right on the grand.. but doon is definitely good also on 401.. will love to hear about your experience.. also great to hear you guys are coming to Kitchener!
@@eshamehta4702 not yet.. from affordability standpoint ppl have also started looking beyond city limits.. New Hamburg or Elmira are around 20-25 min drive from KW city center.. may not have all amenities at this point but have potential.. another place that’s coming up is Woodstock.. it’s on 401.. 30 min to the west of Cambridge.. and of course there is Cambridge and Guelph.. you can check those as well! Amongst all these, one thing that never gets discussed is the healthcare scene in KW area.. compared to GTA KW is lagging way behind.. I know this opens a new can of worms but it’s the reality and needs to be considered!
You guys always come with wonderful content; loved it :) I have couple of questions regarding this house hunting! How do you find this pre-construction sites ? Do you have to have realtor to buy pre-construction houses ?
@V Joshep i know because some of my relatives live in Toronto and 1 of my cousin brother live in Nort Vancouver. Anyways, thanks for Sharing your thoughts. But there is something in these guys, that's why they got CANADA PR and they are living in Ontario from last 9 months. It is very easy to find a fault in someone, but it is difficult to praise.. Be Happy Joshep Sir🤘🤘🙂🙂
Best wishes for ur start. However please be careful as when houses are sold for more than listed price, market is reaching its bubble peak. 2021 is definitely going to see a market crash according to many research. Hope you don't end up buying at a higher price.
Hello ! Is Kitchener right place to get the IT related jobs ,if one comes with 5 years software engineer experience and also with COPR in these 4 months ( May - August) ?..
Low ratio mortgage v/s high ratio mortgage. Don't you think High ratio mortgage will give you good rates and you will be able to even out CMHC insurance payment in long run? Remember rent you will pay to make for 20% down is also going down in drain. What is your thoughts on this?
Yes insured mortgages have better rates. You can always prepay an extra 10% by doubling up your mortgage payments without penalty. This way you get to lock in the price on a house , avoid rent waiting for new construction and most importantly you avoid the risk of being unable to close on the deal , godforbid your employment situation changes when the time comes to close.
We are super close to making an offer.. More on that in the vlogs this month 😃
Thanks guys, for all the support!! ❤
Congrats again ! Amazing content as usual. Add a con for new build - Atleast for families with school going kids . Newer community means new school which can be a con as it can take few years for school to get on its feet . Also few neighbors , so for kids can be difficult.
@@mansibatra7248 true! We will be covering that in the next video when we show the community and schools
@@Potatotalkies wow...u guys are my inspiration...i wish u all the best.. may u sooooon have a house, and once we get an ITA at crs 468 and then a PR, we will see u super soon for a big thankyou and a big size of coffee :)
@@Potatotalkies and ooh, u can rent out the basement to us
Hehe
Haha 😃
7:40 I don't think you should say definitely, my uncle bought a detached house from someone (assignment sell) who booked a house for $1.02M from the builder in 2017, the housing market dipped in 2018 and he had to do the closing but he couldn't and had to sell the house to my uncle for 900k and lost $120k to the builder as a downpayment. So doesn't always increase...
This is one of THE EXCELLENT video out there on getting started with house hunting. Thank you guys for the amazing content!
Thank you for all the information. The pros and cons piece was super helpful! Kitchener Waterloo is a lovely place to settle. I moved right away to Waterloo from India two years back, renting an apartment, day to day groceries, lifestyle, job hunt, spending time in nature, every aspect has been way smoother than I could have imagined. Great decision and good luck with your move!
Thank you 🤗🤗
I love how you guys are so genuine and clear about everything!
Thanks 😃
True.
Masha Allah Masha Allah..very happy for u dears..Alhamdulillah for everything..bhai, s in future u will move to a big house with many beautiful kids🥰
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GOOD LUCK SIR......YOU ARE AWESOME.....LAST DIALOGUE IS GREAT....
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Hey Navjot & Simran. Congrats for your new house.
Thanks 😀
I live in Kitchener. I just sold my semi detached home (1983) for 60k less than what my new construction with all upgrades. We had 53 walkthroughs and 20 offers. It was intense. Definitely buy a new construction if you can afford to wait. Elmira is a great small town just north of Kitchener worth looking at.
Thats awesome 👍🙃
Congratulations guys . Happy for you. We get motivation by looking at ur hard work. And ya u guys really does a great job when sharing info with lots of research hats off
I tried to jump this house buying stream couple of times but rich buyers kicked me out every time. Eagerly waiting for your next video, thanks for a very good and researched content. You are doing wonderful work. God bless you
👍🤗
Great job guys!!!! 👏
Many congratulations 🎊 and
I guess that simplicity & the earthiness with which you create the videos is simply superb and definitely a source of inspiration and motivation to many ppl who have moved to Canada lately.
Hope to be part of your next set of milestones through this channel...
Thank you 🤗
love this FRIENDS bit. joey and simran are love
🤗🤗🤗
All the best! Congratulations.. You guys are an inspiration to us. Cant wait to see your new house. Good Luck and much love.
😃👍
@Potato Talkies - Why Kitchener? Isn't it 100Km away form Toronto?
What factors apart from price that outweighed the commute inconvenience ?
There are enough jobs and opportunities in kitchener.. and our reasons for buying in kitchener are different.. we would eventually want to get into our own business full time..
@@Potatotalkies what is the business opportunity you will be doing eventually?
As your well wisher and a follower of your channel, I would like you to consider the below points.
1. Have you considered that new construction lots are way smaller compared to resales. New builders try to cramp as many houses as possible in the lots, thus very little gap between the houses. It is the land that is more valuable than the structure on the top. You can find how a small lane sold for a million dollar in Toronto .
2. Has Navjot considered how brutal the commute to Toronto, could be when wfh ends? Unless you have made a deal with your employer for a permanent WFH.
3. The current hike in prices in the suburbs is fueled by low mort rates , wfh and the desire for more space. Real estate doesnt always go up. If you signed an agreement for 700K now and by the time you close, if the house value goes to 650K as per bank appraisal, you will have to pay the 50K out of your pocket. This is an uncertainty that comes with preconstruction. I know, I know ontario real estate is resilient, but no one knows how things will play out when vaccine is here.
4 . Have you considered getting condos downtown? Condos are pretty much a buyer's market right now and you can get great deals. Never buy something when it is on the top of the market. If you buy condos now,you can use it as your residence thus saving your rent. you can make a great return, when condo prices go up again when vaccines are here and immigration is back. Think about the Airbnb and long term rental opportunities this can bring as opposed to a big house which wont generate any monthly income.
5. And a genuinely curious question. Doesn't the builder ask for Bank pre approval ? Will you qualify for a big enough mortgage pre approval, when Simran is out of work right now.
Wow so apt. Nice questions 👏🏻👏🏻👏🏻
Last one is the most genuine. Very difficult for people to get loan who have not completed even an year.
@@ishitasingh5330 yes hopefully they have the financing figured out
All great points are great and we will discuss all of these in our coming videos... if you know anything about our research, you would know that I got all of these and more figured out already;)
Brother...just by signing on a pre construction deal does not mean you have all the experience in real estate...the previous offers u made on a resale was a multiple listing....please research what multiple listing is...now...do u even know what assignment is with pre construction? Do you know about HST rebate? Did u know that this amount is included in your purchase price and builder makes you sign documents so that the rebate is redirected to them and not you...did you know that there is a tentative occupancy date and closing date and between that time period you have to pay the builder occupancy fee for each month...did you know that city charges development charges to the builder and then upon closing builder will have you pay for those development charges...did u know that if u want to sell on assignment then builder charges u assignment fee and also legal fees..builder will also at many times take full year tax in advance (you will also get a tax bill from city afterwards)...builder only does this to cover themselves in case the tax bill comes to them, this amount will be in thier trust account and you will have to reach out to your closing lawyer to retrieve those funds once u receive a tax bill and you will have to pay that on closing along with land transfer tax of which some part will be instantly rebated...the only thing you got right was Tarion warranty but sad part is that you didn't even mention the word Tarion...btw the warranty is 2 years on any little thing...7 years for major structural damage...u boast that you know your stuff and did your research but the truth is that you are not giving people all the information...i have bought pre construction before...sold on assignment...purchased on assignment and then closed with builder...i have also bought resale and closed resale...and let me tell u...people save a lot of money on resale and its a lot simpler...no idea why you misguide people when u have been in Canada less than a year and have no real estate experience...jumma jumma 8 din nahi huway aur inki PhD ho gai real estate mein...I am in the mortgage field and I know 10 times more...but i dont publicly give my opinion because I don't want to misguide people...take care man
My support for your youtube channel. At least I can do this for both of you.
May God give u success.
😀🤗
I am nothing but proud of you guys!! This is super inspiring!!
Have seen few of your videos! They are excellent and, for someone who's fairly new to the country, your knowledge about local things is pretty darn good. Btw, Congratulations on your new home! Also, Doon south is an excellent area and I'm sure you would enjoy living there.
Nice content.Keep up the good work.
To add a few points related to the subject of the video:
1. The government provides a 10% down-payment assistance for first time buyers of a new house construction which can help you in avoiding mortgage insurance.
2. One needs to account approximately 5% of the house value as closing cost at the time of house closing that involves a final statement of adjustment by the builder.
3. One should also consider the probability of the project being cancelled by the builder and so more the reason to do a proper research and past project delivery of the builder.
4.Due consideration to be given that the owner do take into account that the person on title is eligible for financing at the time of closing. So, as a back-up one needs to check the inclusion of an assignment clause in case the person does not want to or cannot close the property for any unforseen situation.
Hope this helps. Cheers!
Great pointers...
Thanks 😃👍
Very happy to hear that. interestingly abhi last week me yehi soch raha the ke when will u guys be buying a house or do house search.
You guys are so under-rated. Superb content! Thank you for the info!
Thanks 😃👍
Who said they are underrated bro😂
@@penrose3d lol I meant like they need more subscribers!!
@@rdsingh122 haha
just curious to know if you live in Kitchener and one of you get a job in Toronto ....are you guys up for a commute ? Besides I am sure you already discussed it but are you guys ready to take on extra responsibilities of shoveling snow or cutting grass ?
1. If all goes well, we will have our own business by the time we move into the new house :) if not, there are plenty of jobs in kitchener-waterloo
2. We won't move until 2022.. so we got time to be prepared to take up the responsibility:)
@@Potatotalkies what business are you talking about? The TH-cam? I think you said you’ll talk more on that in next videos.
I’m with 476 stuck in the pool thinking agaey kaise plan karu and then I look at your videos and feel you have already sorted it for many of us in some way. Like given us the direction. Coz many of us are not good with research nor have partners who are great with all this. So coffee in Sha Allah toh banti hai!!
Love how informative your videos are.
What about 13% HST?
Is that not additional to your price of new price?
Or is it included?
Also you did not cover that new house has all basic things and every thing else has to be renovated later like kitchen.
Also you cannot have fence in backyard for 1 year or so after possession.
Also you have to spend full money on basement as its unfinished in new house and probably you can do that only after some time of possession.
Thanks for video otherwise for your point of view.
HST is included in the price in most cases.
Will cover a lot of these details soon
I'm so happy for you guys. Trust me Washington state is the same, where house prices are going up despite COVID.
All the best guys 💕👍
Thank you 🤗
Hello from Australia. Very similar set up with Canada in terms of house situation. Just want to give few tips.. upgrades is where the builder will earn huge margins. Anything small thing you want to change will cost lot more. If you want for instance ceiling height from 2.4 to 2.7 feet they will charge you . If you want to get rid of carpet they will charge you
So if you sum total of all the upgrades you actually pay a lot more than what they sold it you for
The other con is if you do price per sq feet it is actually quite expensive
The other other con is area is not established so sometimes they don’t develop roads or other infrastructure
Makes sense.. do watch our next video and you will know why we went for a new house
Bang on video! Given the research you guys do and your determination to buy a house soon, I usually wondered why you guys were not considering buying a new property...and here you are :)
Great decision! Look forward to your future videos on this. Our best wishes (me and my wife) are with you.
😃😃
Yesterday I was checking exactly this! Under construction and customized or ready to move. Looking forward. Thank you both :)
Why does it feels like I am going to buy a new house through your videos 🙃😍😘 congratulations!!! Can’t wait to see the Videos!!
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Very happy for you guys
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Guys do ask the additional closing cost of new construction. Usually builder charges extra for sodding, tree planting, driveway, utility hookups and at least in GTA then appliances are not included or even if it is included they are not good. Also they do charge more for any minor changes like in electrical and plumbing. Another thing is tarion 7 year warranty is for structure of the house. Plumbing electrical is only 2 year. You will be asked to pay for premium of this tarrion warranty. It will most likely be more expensive than resale house.
You are right in most of what you are saying:) will cover a lot of this in the next few vlogs
You guys are doing very well and making realistic and logical videos on practical things.
Kindly make a video on the profession of Pharmacy in the field of industry, research and Pharmacist.
Hi Potato Couple... Can you advise, which areas are good...Are you looking in outskirts of Kitchener? I am on the same boat...
I have a similar question since planning for same!
In kitchener doon , vista hills,laurel wood are some goood areas
@@ishitasingh5330 But no availability of new properties...
We will cover this in our next video 😀👍
@@eshamehta4702 its not necessary to go for brand new. You can go for old as well. Like 5-10 years old
We definitely do that if by God grace we come to canada, we want to start our express entry hoping next year. Thank you
👍👍
OmG guys . We had decided to find a house in Kitchener and registered almost all builders we found there and by evening u guys have posted this video... I am thrilled . We are looking for new construction houses there
👍👍
The way you explain your content keeps the viewer connected
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Congratulations guys, just to add since you do not have a child, the biggest issue with upcoming area is the school. If you evaluate, home with a 8+ school rating will be way over a house with 7 or less school rating in the same community.
But you guys are doing a great job...
Thanks 🤗
Another con is many amenities like AC, fencing, water sump are to be done by you. In 0-5 year construction, previous owner have sorted them all.. like our’s 😊
Best wishes to both of you Guys....We are also so excited to see the whole process and your experience.
😃👍
Congratulations guys, Good luck👍🏻
I just love the way you share all your adventures with us and that too with so much comfort.. Admirable 💯
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Congratulations on your new milestone in life. This is one of the biggest purchase you have made in Canada and in your life. God will help you and make your path easy. Just to add here is its not 20% down payment there are other payments associated with it e,g closing cost which includes lawyers fees, land transfer fees/cost, moving cost(i build that in my closing cost). So when you do your math for down payment make sure you do your finances or make your target of saving 22% (conservative approach) of down payment. Depending on the builder and trim of the house you are getting you may need to get appliances in the new house. E.g some builder do give you heating system (out sources by other company and you need to pay some monthly amount for maintenance), BUT you may need to install AC unit which is not part of the new build houses. So please go through package as what is offered to you or what you have signed up for. Secondly, if builder is offering you upgrades go for that as if you do the upgrades you have to spend more but if you do builder upgrades than its built to you mortgage.
another thing is 7 years grantee is not on all of the stuff. Its for structural, electrical another items its less then that. Do check with your builder.
100%.. thanks 😃👍 great tips!
Hello to the best vlogger couple I’ve come across! I have to break this to you but my husband and I were really inspired by your videos and as coincidental as that sounds, we aspired to get a house in Kitchener and we DID it! Would love to thank you in person and pay our compliments to you! Would love to hear back from you!
Wow.. thats amazing!!! 👍
What type of house you will get in 6-650? Please elaborate as its a big point.
Are you not supposed to get a mortgage approval in case of pre con ? How did you put down the deposit without that
Mortgage approval works differently with pre-con.. will discuss that in the coming videos.
Congratulations !!! For later possession homes (1~2 year down the line) , do we need start paying for mortgage loan immediately ? Or after possession ?
On possession
Went through the video , one major risk of buying a pre construction is that your circumstances may change after 1 year or so , you may not be able to obtain a mortgage from the bank. That is the most important risk one should consider before heading that path as one cannot recover the down-payment money and assignment sale is very difficult process . I can say from my experience as I own 3 properties of my own in Toronto.
Agreed... but itna risk toh banta hai :)
Congratulations guys! That’s a great news and the right decision. Now I am curious to see which bank you go to get the lowest rate mortgage. TD has been the number 1 in low interest rates and RBC is always good in matching it. All the best
not true right now hsbc is .99% those banks cant match that
HSBC is best right now.. but it won't matter for us right now.. more details coming soon :)
I am damn eager and was waiting for that only ! And yes it would be Kitchener as you liked it earlier !
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Kitchener welcomes you!
Congratulations on your new journey guys...
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Congrats and best of luck
Awesome!! Congrats and All the best!
Can you please tell us which app/ website do you use to look at the pre constructed sold houses shown at the start of the video? Also are you going through an agent?
Buzz buzz homes.. all about this in the next video
Are you guys taking advantage of First time home buyer incentive of shared equity ? For new home it is 10% from Government
But that does not help much as the maximum purchase price is capped at only 4 times your annual income. Trudeau is planning to increase it to 4.5 times but still not enough to buy a place in GTA.
Yeah, first time home buyer program is not too good for GTA
Please could you send me link how to find pre construction house kitchener or Toronto? Thank you!
Follow buzzbuzzhomes.com
Or hire a realtor.. search for househunterH on Instagram
Work from home will not be permanent. What will happen when we start working from office? Will buying house outside GTA or far from Toronto beneficial in the long run?
Not for people who would want to work in downtown :) but there are other opportunities outside downtown
Hey Great Video, I wonder since you are a first time home buyer you may want to use the CHMC's First time home buyer Incentive program. Apologies If you have already discussed that in this video or a previous video.
Is kitchner near by Toronto ? Does it come under Ontario province?
Its far from Toronto downtown.. about 100kms .. but still in ontario
Congratulations for this new episode of buying a new house..👍
Great choice guys! Totally makes sense to buy a new one rather than going for an old house, not forgetting how it’s also financially more viable.
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Awesome Video guys...U r teaching us with ur journey...Keep up the good work...lots of love.!
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How do you treat with a mortgage if you just arrived if you have enough for a downpayment?
How do you vet if the builder is legitimate?
All that in the upcoming vlogs.. coming soon :)
Bhaiya ak baat hey Viedo nahi uploads kar raheho to aj Hi bol ti hu ..... ( Canada me Suzuki Hayabusa or Kawasaki Ninja h2 HEY ) or price kitna hey plz boliya
Check autotrader.ca
guys this would gonna be so exhilarating journey
so happy for you guys
Absolutely 🤗🤗
hi....i am also looking ...can you tell which area have you invested?
We are still checking our options... will update in our videos.
Thank you so much, guys. You are awesome
Thanks 😊
Very well explained. Great achievement guys. All the very best.
Thanks 😀
You guys are highly logical. I really like your videos
You have model homes for pre construction to project how it will look like
Not always.. but yes, we did see a few.
Congratulations on making this decision!
Looking forward for your valuable info on this topic :)
Thanks 🤗🤗
Congratulations guys! All the best for your new endeavours 👍
Thanks 🤗
All the best guys, Veerji your research is amazing. way to go.....
Thanks ❤
Congratulations both! I wait for your videos. This is the first vlog that I follow.You guys speak with the intent to help which all your viewers can feel; so, biggg thank you and keep sharing awesome stuff!!! 😉😃👍
Thank you 🙏🙏
So happy for you guys, I am a real estate consultant here in Delhi and I always happy when someone buys a house and this time its you...you guys gives a lot of hopes to us to immigrate to canada and we have our IELTS in jan 2021 and we will be a step closer to immigrate 😬
Thanks 🤗🤗
All the best 👍
Hi, can you share name of construction company/builder? or you went with a real estate broker?
Will talk about this in the next video
I also invested my money in a house rather than the stock market to own an asset and build equity. Bought a 4 year old house in Guelph and I could a little luck was on my side so got the place below asking price with conditions I added in the offer were accepted as well. I did look at new construction homes as well but builders were giving possession only in 2022 and I wasn't ok with paying more rent for a year and a half since my 20% was ready. My next home would most probably be a new construction as I can use the equity from the current one and use that as down payment for the next few years down the line.
Good one 👍
Congratulations guys!!!!! 👍👍 You are an inspiration to us!!! Keep going!!👍👍
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First of all congratulations 👍
I have been watching your videos lately and you both are doing a great job. I can relate to myself with your journey. Best wishes for all you do.
Thank you 🤗
Happy for you guys 😀
Eager to be a part of your journey
How you gonna finance your start up ? Bootstrapping or ...?
Yup.. 😃 building it 1$ at a time
Congratulations to both of you! Which part of Kitchener you are looking for the new built? Doon, Huron or Blue Springs?
All 3 of these.. prefer doon, huron.. will visit a few of these places in our next week's vlog
@@Potatotalkies looking forward to your next vlog.. I am yet to check Blue Springs myself.. by car it’s not that far from our current apt.. also area looks promising on papers.. right on the grand.. but doon is definitely good also on 401.. will love to hear about your experience.. also great to hear you guys are coming to Kitchener!
@@banerjeesupriyo Have you shortlisted any property? Have you looked at outskirts like Hamburg, strassford, elmira
@@eshamehta4702 not yet.. from affordability standpoint ppl have also started looking beyond city limits.. New Hamburg or Elmira are around 20-25 min drive from KW city center.. may not have all amenities at this point but have potential.. another place that’s coming up is Woodstock.. it’s on 401.. 30 min to the west of Cambridge.. and of course there is Cambridge and Guelph.. you can check those as well!
Amongst all these, one thing that never gets discussed is the healthcare scene in KW area.. compared to GTA KW is lagging way behind.. I know this opens a new can of worms but it’s the reality and needs to be considered!
@@banerjeesupriyo Thanks for the info.. Can you share some available new upcoming properties in KW waterloo.
Congratulations & All the best guys.
Thanks 😊
You guys always come with wonderful content; loved it :) I have couple of questions regarding this house hunting! How do you find this pre-construction sites ? Do you have to have realtor to buy pre-construction houses ?
We will cover this in the next 2 videos.
Congrats on achieving such major milestone🎇👍
Excellent information!! Hats off you guys!! 🙏🙏 all the best and thank you for adding such informative content
Nice video. Congratulations to you both.
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🤩 That is amazing news... You guys truly know how to chase your dreams... 🎉 Congratulations on your decision ❤️ and keep going...! 🎊
Thank you 🤗
Many Many Congratulations guys!!!
Super excited about a house hunt. . . 🤩
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Preconstruction is the best option rather than old houses.. totally agree with you guys 🤘🤘👍❤
Hope, jaldi hi apne ghar ki khushkhabari de aap log😇😇🙂🙂❤
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@V Joshep nope, I'm in New Delhi .
@V Joshep i know because some of my relatives live in Toronto and 1 of my cousin brother live in Nort Vancouver. Anyways, thanks for Sharing your thoughts. But there is something in these guys, that's why they got CANADA PR and they are living in Ontario from last 9 months.
It is very easy to find a fault in someone, but it is difficult to praise..
Be Happy Joshep Sir🤘🤘🙂🙂
Congratulations..very informative videos... Best of Luck with your New Home 🏠..
Thank you 😃
Best wishes for ur start. However please be careful as when houses are sold for more than listed price, market is reaching its bubble peak. 2021 is definitely going to see a market crash according to many research. Hope you don't end up buying at a higher price.
All the best guys! So happy for you! 💚💙
Thanks 😊
Hi Guys, Thank you for this video. I have heard about hard water in Kitchner, how do you address this ?
Get a water softener installed. It's about $2000
@@Potatotalkies Are water softeners able to desalinate the water 100% and is the water at par with other areas? Any experience in this regard?
@@contactprajit yes, they are.. infact better! We have a couple of friends who have been using it for many years now.
Awesome. Thank you
Congratulations for your new house
Thanks 😊
So happy for you guys!!! :D
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Congratulations 🥳 and affirmative with your line of thought. Kudos to your brainstorming .
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You guys make awesome videos ..love your videos
Hello ! Is Kitchener right place to get the IT related jobs ,if one comes with 5 years software engineer experience and also with COPR in these 4 months ( May - August) ?..
I think so... yes! It’s going to do very well in the coming years
Low ratio mortgage v/s high ratio mortgage. Don't you think High ratio mortgage will give you good rates and you will be able to even out CMHC insurance payment in long run? Remember rent you will pay to make for 20% down is also going down in drain. What is your thoughts on this?
Yes insured mortgages have better rates. You can always prepay an extra 10% by doubling up your mortgage payments without penalty. This way you get to lock in the price on a house , avoid rent waiting for new construction and most importantly you avoid the risk of being unable to close on the deal , godforbid your employment situation changes when the time comes to close.
Everyone has different life goals and our situation is very different to yours..