Did you say you had a tenant insurance for the unit you rented out? I thought you had to be a renter to have that, and since you were the owner (landlord) of the condo unit, wouldn’t that mean you had a regular home insurance?
I will never buy house or condu in canada in my life never i will make this mistake again once i made mistake baught condu in Toronto but not again i will stay on Rent
If you think living in a house won’t bring you any trouble, maintenance, breakdowns. You are living in a fool’s paradise. Even if you are doing it yourself, you are putting in man hours. It’s cost of living which you have to pay till the day you die be it condo, TH, or a detached house.
Yep I would not buy a condo right now. I bought 2 condos in Victoria because they were zoned for Airbnb, but the province changed that and we are in court with them. If we lose the court case at the supreme court, I will be selling both of them this year. Do not want to be a long term landlord at all in Canada. Also the money from selling them won't be going to investing in Canada also, it would go straight to the US. Canada is cooked.
My dad bought his first investment house in 1971 for $14,500 cad in west Vancouver. Sold last year for $17 Mil.
Your dad made good choices he made good money but who can afford 17 million house and when it will be paid of they over value houses a lot
Happy New Year. God bless Igor’s family
Happy New Year 🥳 Thank you Benny!
Did you say you had a tenant insurance for the unit you rented out? I thought you had to be a renter to have that, and since you were the owner (landlord) of the condo unit, wouldn’t that mean you had a regular home insurance?
Hey Igor happy new year to you and your family🎉❤
Thank you 🙏 Happy New Year 🥳
I love you Igor ❤
Does this apply to townhouses as well?
Yes
I will never buy house or condu in canada in my life never i will make this mistake again once i made mistake baught condu in Toronto but not again i will stay on Rent
If keep buying become everyday habits...this is also not good thing
If you think living in a house won’t bring you any trouble, maintenance, breakdowns. You are living in a fool’s paradise. Even if you are doing it yourself, you are putting in man hours. It’s cost of living which you have to pay till the day you die be it condo, TH, or a detached house.
This isn’t new information. As a realtor you should have known this BEFORE you purchased a condo.
That was BEFORE I was a realtor. By the way, I still own that property as an investment now, and multiple other properties.
i feel bad and annoyed for your situation igor, it's like a weird ponzy scheme there doing to condos now
Yep I would not buy a condo right now. I bought 2 condos in Victoria because they were zoned for Airbnb, but the province changed that and we are in court with them. If we lose the court case at the supreme court, I will be selling both of them this year. Do not want to be a long term landlord at all in Canada. Also the money from selling them won't be going to investing in Canada also, it would go straight to the US. Canada is cooked.
Why only two condos for AirBnb? Buy 10 and make them all short rentals