Again a well detailed video guys. The best part I always like is how Navjot sir talk about numbers and make an informed decision. You are a nerd man♥️💯
I agree with every single point that you have said /discussed . Also I just don’t understand why do people have to comment if it is bad decision or risky. You are adults who moved countries , you will do your homework .
You guys are soo perfect, the way you explain everything though with a risk that you're putting your personal details out... Truly commendable.... A lot learnt and a lot to follow .... Keep going you both! ❤️ Hope you find the best place to soon..!
Congratulations guys.. well deserved! So detailed, apt and informative. As soon as Navjot says "numbers" I definitely watch the video with more focus! I love how well everything is always explained. Superb superb superb👍
burrah! shaabashe, wise decision! All the Best Guys! We just got our property evaluated in SYD and the gains are massive, we too are looking for a land or a townhouse :D
If you want to grow, you need to take risks provided they are calculated risks. You guys are wise enough to take calculated risks. So wish you all the luck & many successes in life.
my 0.02, when you miss payments here the house is taken over by lender and sold at whatever price the market takes. One of my friends in Atlanta bought an under house, new 650k for 240K
condo sale depends upon its location, age of building and property management, reserve funds and fees.If you come towards east brampton and mississauga. You guys will see good condo's are getting sold within a week with at least 30k over price. So please dont think condos are not getting sold out.. You probably dont see the actual demanding market.. Home buyers should always consult directly with banks and take qoutations and then shop around. *Mortgage agent should alwsys be the second option. I was just wondering if you are aware about the expenses post buying your new townhouse.. what do you receive is just a box with few appliances and you have to put additional 30k to 40k in it.. You should stay silent and save for your new dream home until you dont get the possession and once settled then enjoy and take feel of new house.. refinance the property after a year..Bank will give you additional money which can be used in your 20% for detached house.. Now this call a good investment plan. Bhai neeche se uper jaao..Uper se neeche kyu aate ho..😄
Hey guys, please make a video comparing various cities, both for a couple and single people and also the major factors that currently impact survival in Canada.
*Paaji You Own not 2 now in 2022 you own 3 houses 🏘️ who knew and may be 2.5 houses not 3 but still and Congrats* 👏🎉 and may be you will buy a few more and in many other cities too 👍
For precon you can still go with minimum down with a different insurer when the time comes, as it will be your primary residence that point in time. Ofcourse subject to qualification based on your income and liabilities
Ohh man your calculations... i am so addicted to these calculations.. is it possible for you to get an editable version of your budget calculator ? So that I can use it for other provinces too.
Bro.. get a readvacable mortgage for your condo. A readvancable mortgage is mortgage + HELOC attached. Search for term Smiths Manuever...its an excellent strategy to do leveraged investment and generate a portfolio in long term.
Also don't fall discounted mortgage with extremely low rates. They arent worth in long term. Look for mortgage which does not have bona fide sale clause
Hey guys, love your video and your calculated risk based approach to life. One point of note, usually 5% down payment would require you to pay a mortgage default insurance premium every month. I think that is a significant impact to the bottom line of your Kitchener vs. Etobicoke comparisons
@@Potatotalkies This doesn't make sense as the amount is added to the borrowed amount. YOu are going to pay for it no matter what. Even if you sell its accounted for. For example (I over simplified these amounts). The amount I want to borrow is 300k and CMHC premium is 15K then my mortgage is for 315 K. If I sell my home 10 years in and say now my balance on mortgage is 275k then the bank is still getting 275 k upon the sale. THe bank pays cmhc the 15k right away when you get the mortgage.
your videos are very helpful. the kind of research you do for this is just amazing. I wish I could do same detailed research and calculations when making any financial decision or i wish atleast i had some smart friend like you to help out :D
Thank you for the detailed calculations! Your videos are really helpful for ppl like me, who want to know all the risks when it comes to buying properties. One question, since you are paying
Will be paying around $65 a month additional :/ But lets see - if $$ permits, will refinance to 20% in a couple of years to get out of the mortgage insurance
Hi Guys.. very happy about your success.. please do keep your sight on the contrarian factors as the real estate of Canada seems to be reaching its peak. The US bond rates are rising, the Canadian government will have to give in if the US rates continue to rise which will either cause CAD to weaken causing higher inflation and it will hurt more voters OR the Canadian government will be forced to raise domestic rates which will increase debt payments and people who have stretched their finances will experience defaults. The real estate market faces rock vsa very hard place.
Congratulations man I am a day one lover of your videos keep sharing the great info . My journey for Canada is on the way have a good day guys . U guys are superb 😊👍🏻 and I really likes the rule of 35
If I am right you need 20% on rental property when u move to New home in 2 yrs u just need to do 20% of rental condo, and 5% of property u are moving Keeping variable interest rate will keep penalties low if u need to break mortgage terms. I did this. This way u can keep total down-payment low.
Yup.. absolutely Best - hopefully the condo market explodes and we are able to refinance the property to 20% with the rental income without spending a penny from our pocket ;) but yeah, that’s like a dream scenario 😀
How are you so sure about the mortgage rate for your townhouse ?. By 2023 the mortgage rates might increase back to pre pandemic levels or may be more.
I am not sure; just going by bank of Canada’s statement in December that they won’t increase it by 2023. But you are right; we might end up spending $100-150 more per month if the rates increase to over 2-2.5%
I think you can do a tax write off on maintenance and interest once you rent it out. Like your explanation. As you mentioned it depends on individual risk tolerance. But in my view real estate is lot of work.
Hope you have taken into consideration that the initial interest rates might be teaser rates and that these rates will be adjusted after the initial few years. Thus your mortagage EMI might go up from there on.
@Average Joe that's correct Government would love to keep the rates as low for as long as possible. However when the run away inflation kicks in, central banks across the world will have no option but to increase the rates.
@@Potatotalkies we are thinking of moving to Canada through PR, and we would need your help , me and my wife watch all your videos and look forward to connecting with you guys once we land there.
Hi! Just wanted to know whether the rental income would attract tax and if yes then wat would be the post tax scenario (comparison). I feel comparison on post tax basis good give a better insight.
Congratulations on your new home guys! May it be a setting for memories to cherish. I have a rather strange request. How does one go about buying land in Canada if one wants to build their own offgrid tiny home in it? Any insights?
Browse listings in Realtor for vacant land.and you need to call the city about the zoning and what is permitted to be built there. You also need to make sure there is already utilities like electricity, water and sewage. Getting these utilities if not already available can be very expensive
A very expensive option. I only knew a few people that have done this and they had millions to spend so it made sense. They could deal with all the added expenses for the engineer and utility connections and permits etc.
Great Video!!! But the part that i am still unclear on is , if total mortgage limit is 700k then when you close the townhouse then your overall mortgage request will be for roughly a million (650+400), so how would the bank lend you a loan for that amount considering your approval limit of 700k? Isn't the total falling outside your approvable limit?
If it gets to 5% - roughly 400K families will go bankrupt :) If we start planning a life around extremes, we will never be able to move forward. There’s a reason why investments are subject to market risk :)
Haha I can never understand why people just give out free (and unnecessary) advice like 5% nahi 20% dena padega and what not. Especially when Navjot is so strong with research and numbers. Wish people would just try and learn from you guys and offer suggestions for videos they would like to see rather than half-baked advice More power, potatoes!
Are you taking mortgage from bank or mono lender? Can you share which bank or mono is giving 1.29 (prime - 1.16)? I am assuming variable here considering the percentage you mentioned!!
Honestly there is no risk. I am sure Potato Talkies will be easily making more than the EMI on the second house just through their side hustles like TH-cam and First Job Accelerator. With 1.2 million expected immigrants over the next few years, property prices can only go up. Its a no-brainer kind of an investment. Navjot is excellent at number crunching (trust me he does it better than MBA Finance/CFAs). He is an ace planner and will only take calculated risks. Those who think its a risk are living in fool's paradise. Even if the property prices crash, Potato talkies can easily fund the second house and hold on till the prices recover.
@@dhruvmohan393 you know what, let’s hope it does. Else, real estate prices are going to a point where it’s becoming unhealthy. Need to put some breaks on to slow it down a little
@@Potatotalkies but navjot do you think it will really help as the market is so hot because of people purchasing investment properties. First time buyers will still have to suffer. Gta relatora are investing in kw real estate which is why its going crazy
@@ishitasingh5330 the stress test will help for sure - but low interest rates and property tax (vs US) as well as strict construction and land transfer laws is hurting the supply and unable to keep with the demand from so many first time home buyers in the market. I think more smaller towns will develop in future as more people get priced out in bigger cities. Condos will start to sell a lot more because that’s what most people will qualify for. But again, this is just my observation and is subject to market risk :)
Hey Guys Please answer my question Is it right that a student attend classes online from sitting in canada can not get extra PR points of study....??????
Did you guys factor in the extra down payment that you would have to put for the Townhouse? Because I didn't see it on the green board. Good informational and detailed video. You might not know what a difference you are making in new immigrants life. Keep the good work going.
Everyone I know in Canada is under Fear Of Missing Out on home ownership... such a bubble has been created there that even Govt has no other option but to support the craze. If they take any corrective measures, number of Canadians who will be upside down on mortgage will be more than people who wont be affected. On the other hand, If I could get my hands on 1.25 - 1.75% loan amortized over 25/30 years, I would have also joined the rat race (as investor ;)), that's the cheapest money one can get...
@@Potatotalkies That is true, I am sharing observation on the Canadian Real estate market right now, not on your situation. This kind of craze led to the economic downturn of 2008 in US, real estate bubble. Banks approving loans left right and center and sky high home prices. Also, stretching too thin to get into home ownership is becoming very normal in Canada. If you remember i did some back of napkin calculations on your numbers and told you would be better off buying now rather wait for 2 years. I am glad you taking that step because you are numbers guy. But 2 mortgages (after 2 years) and a projected rental income after 2 years is not my cup of tea. You are brave. Becoming land lord comes with its own set of challenges and I will look forward to your video about experiences of being a landlord :)
Congratulation guys. Your videos are very helpful. Keep posting and stay safe guys. I have a question regarding pre construction townhouse. How did you manage to find out about the pre construction projects. Are there any websites or did you find with the help of real estate agent. Please let me know. Thank you in advance.
Guys ... we are a young couple like yourselves based in Kitchener, similar backgrounds and stories as you. Once you guys move do reach out ,would love to connect and chat
guys, per my understanding Canadian mortgages are always ARM, so your calculations are only valid for 5 years right ? that means you are exposed to interest rate risk ?
Hi , god bless you your all wish ,I'm from India I follow your all video u both are very hard worker so I really proud of you I'm sengal mother my son his in Brampton his in now work Permit , I ben there 2time hope fully we are met you in future, Hartly bless you! From Roma Dave
In addition of immigration, you can open a channel full time for investment (especially house buying)
Again a well detailed video guys. The best part I always like is how Navjot sir talk about numbers and make an informed decision. You are a nerd man♥️💯
Hahaha... thanks Shubham 😀
I agree with every single point that you have said /discussed . Also I just don’t understand why do people have to comment if it is bad decision or risky. You are adults who moved countries , you will do your homework .
Congratulations!
I am still looking for buying my 1st property in Kitchner.
Keep motivating 💪👍
You guys are soo perfect, the way you explain everything though with a risk that you're putting your personal details out... Truly commendable.... A lot learnt and a lot to follow .... Keep going you both! ❤️ Hope you find the best place to soon..!
It is realistic, 2 earners can own 2 houses. Also you will be saving on rent so its a good thing.
Well calculated move. Really an inspiration for us. All the best guys
Omg!! Congratulations on finalising the condo. Waiting for a full house tour 🙌
Thank you 😍
We are waiting to show you
Congratulations guys.. well deserved! So detailed, apt and informative. As soon as Navjot says "numbers" I definitely watch the video with more focus! I love how well everything is always explained. Superb superb superb👍
Thank you 😊
Fortune favors the brave. 👍🏻👍🏻 Charhdi kalaa..
Very well thought out! Hearty congratulations!
Congratulations.... Good decision.. Excellent compare and analysis..
Congratulations guys ...so happy for you...can’t wait to start our own journey. Our PR is still waited. But thanks for the guidance ❤️
You will ... very soon 😀👏
@@Potatotalkies :D
same here😅
@@rana_ak30 what's your AOR?
@@coupledelights9112 what ia AOR?
You guys are smart.
You deserve all the success, much love ☺️
😊👏
Interesting! Thank you for sharing it. ✌️
It's truly a blessing to find a partner with same goals, all the best guys👍
Congratulations Guys!
Keep it up (risk ❤️ ishq) 👍
burrah! shaabashe, wise decision! All the Best Guys! We just got our property evaluated in SYD and the gains are massive, we too are looking for a land or a townhouse :D
👏👏
If you want to grow, you need to take risks provided they are calculated risks. You guys are wise enough to take calculated risks. So wish you all the luck & many successes in life.
U will be fine don’t worry
my 0.02, when you miss payments here the house is taken over by lender and sold at whatever price the market takes. One of my friends in Atlanta bought an under house, new 650k for 240K
So the plan is to not miss payments 😀
Good luck guys. You will for sure succeed with all your plans.
condo sale depends upon its location, age of building and property management, reserve funds and fees.If you come towards east brampton and mississauga. You guys will see good condo's are getting sold within a week with at least 30k over price. So please dont think condos are not getting sold out.. You probably dont see the actual demanding market..
Home buyers should always consult directly with banks and take qoutations and then shop around.
*Mortgage agent should alwsys be the second option.
I was just wondering if you are aware about the expenses post buying your new townhouse.. what do you receive is just a box with few appliances and you have to put
additional 30k to 40k in it..
You should stay silent and save for your new dream home until you dont get the possession and once settled then enjoy and take feel of new house.. refinance the property after a year..Bank will give you additional money which can be used in your 20% for detached house..
Now this call a good investment plan. Bhai neeche se uper jaao..Uper se neeche kyu aate ho..😄
Normal mein majja kahan mere dost 😀
And we are saving 30K additional for Renos.. just in case.
The amount of information u guys r giving is phenomenal 💟
Thanks 😊
Hey guys, please make a video comparing various cities, both for a couple and single people and also the major factors that currently impact survival in Canada.
Sure; will try
*Paaji You Own not 2 now in 2022 you own 3 houses 🏘️ who knew and may be 2.5 houses not 3 but still and Congrats* 👏🎉 and may be you will buy a few more and in many other cities too 👍
For precon you can still go with minimum down with a different insurer when the time comes, as it will be your primary residence that point in time. Ofcourse subject to qualification based on your income and liabilities
You guyz did great deeds in previous lives. God lives in ur pockets.
🤗
Thanks for making us part of your journey...this is extremely informative..more power to both of you and may your dreams come true
Thank you 😊
Ohh man your calculations... i am so addicted to these calculations.. is it possible for you to get an editable version of your budget calculator ? So that I can use it for other provinces too.
Risk hai toh Ishq hai! All the best guys!
Can't wait to see the new condo tour ❤️
Soon soon 🔜
Bro.. get a readvacable mortgage for your condo. A readvancable mortgage is mortgage + HELOC attached. Search for term Smiths Manuever...its an excellent strategy to do leveraged investment and generate a portfolio in long term.
Also don't fall discounted mortgage with extremely low rates. They arent worth in long term. Look for mortgage which does not have bona fide sale clause
Thanks for the tips brother... will get into this 👍
hello guys congratulations for the second home
You guys should start personal finance and general finance youtube channel
😀thanks!
Starting something soon... not investment related but close :)
@@Potatotalkies yayaya very excited for it
Hey guys, love your video and your calculated risk based approach to life.
One point of note, usually 5% down payment would require you to pay a mortgage default insurance premium every month. I think that is a significant impact to the bottom line of your Kitchener vs. Etobicoke comparisons
Yes, for sure... I am not a fan of CMHC but it’s spread across 25 years and no one keeps a house for that long.
@@Potatotalkies This doesn't make sense as the amount is added to the borrowed amount. YOu are going to pay for it no matter what. Even if you sell its accounted for. For example (I over simplified these amounts). The amount I want to borrow is 300k and CMHC premium is 15K then my mortgage is for 315 K. If I sell my home 10 years in and say now my balance on mortgage is 275k then the bank is still getting 275 k upon the sale. THe bank pays cmhc the 15k right away when you get the mortgage.
@@canadianjatti makes sense, thanks 👍
Congratulations....love the transparency in numbers...👍👍
👏👏
Congratulations 🍾 this was very informative video . All the best
Awesome guys. Question rule of
your videos are very helpful. the kind of research you do for this is just amazing. I wish I could do same detailed research and calculations when making any financial decision or i wish atleast i had some smart friend like you to help out :D
Hello
Potato Talkies
A big fan of yours from your neighbor country Pakistan 💚
Thanks 😊
Thank you for the detailed calculations! Your videos are really helpful for ppl like me, who want to know all the risks when it comes to buying properties.
One question, since you are paying
Will be paying around $65 a month additional :/
But lets see - if $$ permits, will refinance to 20% in a couple of years to get out of the mortgage insurance
Good decision....smart move....👍 luck paaji.....keep posting..
Hi Guys.. very happy about your success.. please do keep your sight on the contrarian factors as the real estate of Canada seems to be reaching its peak. The US bond rates are rising, the Canadian government will have to give in if the US rates continue to rise which will either cause CAD to weaken causing higher inflation and it will hurt more voters OR the Canadian government will be forced to raise domestic rates which will increase debt payments and people who have stretched their finances will experience defaults. The real estate market faces rock vsa very hard place.
Great update. Congrats to you guys. Regarding mortgage did you get a fixed rate of 1.29% ?
Informative contents in every video.
Love from ODISHA
Congratulations guys 💐 I know in next 10 years you guys will be Canada's multimillionaire.
😍
Ekdam perfect calculations he
Love you paaji ❤
Thank you 🤗
Another outstanding video...Both of you are doing great job Guys....Best Wishes....Cant wait to see your house tour :)
Thanks 😊
You guys always use green board and show us calculations that’s really helpful ,not like hawa hawa me baate like other channels 😂😂💜
Hey, congrats on the condo, hope you get the deal. Can you disclose what type of mortgage are you going ahead with, variable or fixed?
Love your channel, all the best guys
👏👏
Congratulations man I am a day one lover of your videos keep sharing the great info . My journey for Canada is on the way have a good day guys . U guys are superb 😊👍🏻 and I really likes the rule of 35
Thank you 😊
Can you guys make the same video, but in English only? Sounds like a lot of good info!
Congratulations 🥔
The way u guyz put down things
I m ur fan 😃
🤗🤗
Great information!
If I am right you need 20% on rental property when u move to New home in 2 yrs u just need to do 20% of rental condo, and 5% of property u are moving Keeping variable interest rate will keep penalties low if u need to break mortgage terms. I did this. This way u can keep total down-payment low.
Yup.. absolutely
Best - hopefully the condo market explodes and we are able to refinance the property to 20% with the rental income without spending a penny from our pocket ;) but yeah, that’s like a dream scenario 😀
Awesome guys great work keep it up ❤️
😀👍
Totally love you guys spirit and confidence. Exactly "why not" . Risk tou lena parta hain 😁
👏👏
How are you so sure about the mortgage rate for your townhouse ?. By 2023 the mortgage rates might increase back to pre pandemic levels or may be more.
I am not sure; just going by bank of Canada’s statement in December that they won’t increase it by 2023. But you are right; we might end up spending $100-150 more per month if the rates increase to over 2-2.5%
I think you can do a tax write off on maintenance and interest once you rent it out. Like your explanation. As you mentioned it depends on individual risk tolerance. But in my view real estate is lot of work.
Agree 👍
Hope you have taken into consideration that the initial interest rates might be teaser rates and that these rates will be adjusted after the initial few years. Thus your mortagage EMI might go up from there on.
@Average Joe that's correct Government would love to keep the rates as low for as long as possible. However when the run away inflation kicks in, central banks across the world will have no option but to increase the rates.
Awesome guys happy for you
Congratulations !!
Congratulations Guys, wonderful videos are inspiring one and all...
👏👏
@@Potatotalkies we are thinking of moving to Canada through PR, and we would need your help , me and my wife watch all your videos and look forward to connecting with you guys once we land there.
This is a very calculative risk.. Good job!
Thanks 😊
lots of love and blessings...from punjab
All the best guys!!!
Thank you 😊
Hi potato talkies!
Just wanted to inquire the exact website or way to search for condos. Where do you search them from?
Thank you
House Sigma
Hi! Just wanted to know whether the rental income would attract tax and if yes then wat would be the post tax scenario (comparison). I feel comparison on post tax basis good give a better insight.
Congratulations on your new home guys! May it be a setting for memories to cherish.
I have a rather strange request. How does one go about buying land in Canada if one wants to build their own offgrid tiny home in it? Any insights?
Browse listings in Realtor for vacant land.and you need to call the city about the zoning and what is permitted to be built there. You also need to make sure there is already utilities like electricity, water and sewage. Getting these utilities if not already available can be very expensive
Haven’t explored that yet..
thanks Momgrammer for the inputs :)
A very expensive option. I only knew a few people that have done this and they had millions to spend so it made sense. They could deal with all the added expenses for the engineer and utility connections and permits etc.
FYI, there are condo townhouses as well :)
Yes true... but the way prices are going right now... they are trending like freeholds
On point videos all the time 👍🏻
Thanks 😊
God Bless you both 🙏👍🤑
Great Video!!!
But the part that i am still unclear on is , if total mortgage limit is 700k then when you close the townhouse then your overall mortgage request will be for roughly a million (650+400), so how would the bank lend you a loan for that amount considering your approval limit of 700k? Isn't the total falling outside your approvable limit?
I remember responding to this in a different post I guess
Nice calculations, but a what is scenario is if the interest rate becomes 5% are you covered?
If it gets to 5% - roughly 400K families will go bankrupt :)
If we start planning a life around extremes, we will never be able to move forward. There’s a reason why investments are subject to market risk :)
This is why there is a stress test on new mortgages now and new rules for this test coming in June.
Congratulations guys
Congrats...my all time fev vlogger..😊.please let us know from your research is there any resale value of a condo ??Thanks
Absolutely... it’s less than townhouses, but condos also appreciate in value.
Haha I can never understand why people just give out free (and unnecessary) advice like 5% nahi 20% dena padega and what not. Especially when Navjot is so strong with research and numbers.
Wish people would just try and learn from you guys and offer suggestions for videos they would like to see rather than half-baked advice
More power, potatoes!
very true.. their research is always bang on!!
Thank you 😊
Please make a video on parents PR or if we intend to move them, what to expect in terms of heath insurance cost
Are you taking mortgage from bank or mono lender? Can you share which bank or mono is giving 1.29 (prime - 1.16)? I am assuming variable here considering the percentage you mentioned!!
CIBC simplii
Yes, this is variable
This is real calculative risk take it best of luck
Thanks 😊
Honestly there is no risk. I am sure Potato Talkies will be easily making more than the EMI on the second house just through their side hustles like TH-cam and First Job Accelerator. With 1.2 million expected immigrants over the next few years, property prices can only go up. Its a no-brainer kind of an investment. Navjot is excellent at number crunching (trust me he does it better than MBA Finance/CFAs). He is an ace planner and will only take calculated risks. Those who think its a risk are living in fool's paradise. Even if the property prices crash, Potato talkies can easily fund the second house and hold on till the prices recover.
Thank you 😀
Waiting to meet you soon guys all the best blessings
😀😀
With new announcement around stricter stress tests (now above 5%) June 2021 onwards would your calculations for new townhouse still hold good?
Yup.. we are good there.. all we need is 20% down
Btw, not a massive jump from the current 4.79% level.
@@Potatotalkies sounds good, I believe it's gone up to 5.29%
@@dhruvmohan393 you know what, let’s hope it does. Else, real estate prices are going to a point where it’s becoming unhealthy. Need to put some breaks on to slow it down a little
@@Potatotalkies but navjot do you think it will really help as the market is so hot because of people purchasing investment properties. First time buyers will still have to suffer. Gta relatora are investing in kw real estate which is why its going crazy
@@ishitasingh5330 the stress test will help for sure - but low interest rates and property tax (vs US) as well as strict construction and land transfer laws is hurting the supply and unable to keep with the demand from so many first time home buyers in the market. I think more smaller towns will develop in future as more people get priced out in bigger cities. Condos will start to sell a lot more because that’s what most people will qualify for. But again, this is just my observation and is subject to market risk :)
Hey Guys Please answer my question
Is it right that a student attend classes online from sitting in canada can not get extra PR points of study....??????
Did you guys factor in the extra down payment that you would have to put for the Townhouse? Because I didn't see it on the green board. Good informational and detailed video. You might not know what a difference you are making in new immigrants life. Keep the good work going.
Thank you! 😀
Yes, downpayment is there but I don’t consider that an expense as 100% of that goes towards equity :)
Everyone I know in Canada is under Fear Of Missing Out on home ownership... such a bubble has been created there that even Govt has no other option but to support the craze. If they take any corrective measures, number of Canadians who will be upside down on mortgage will be more than people who wont be affected. On the other hand, If I could get my hands on 1.25 - 1.75% loan amortized over 25/30 years, I would have also joined the rat race (as investor ;)), that's the cheapest money one can get...
Just buy what you can afford to hold long term... that’s the mantra in any market :)
@@Potatotalkies That is true, I am sharing observation on the Canadian Real estate market right now, not on your situation. This kind of craze led to the economic downturn of 2008 in US, real estate bubble. Banks approving loans left right and center and sky high home prices. Also, stretching too thin to get into home ownership is becoming very normal in Canada. If you remember i did some back of napkin calculations on your numbers and told you would be better off buying now rather wait for 2 years. I am glad you taking that step because you are numbers guy. But 2 mortgages (after 2 years) and a projected rental income after 2 years is not my cup of tea. You are brave. Becoming land lord comes with its own set of challenges and I will look forward to your video about experiences of being a landlord :)
@@tarajatt6734 absolutely 👏👍thanks
Good information 👍
Very informative video
Guys where is this place you guys are shooting?
Port credit
There are still many factors to be considered when you showed the calculations. But won't get into it. Congratulations on your new home!!!
Thank you 😊
What's the name of the waterfront you guys are standing by? What city?
Port credit, Missisauga
@@Potatotalkies It's Gorgeous!!
How much annual income do I need to buy first house in kitchener?
Do check our home buying series
Congratulation guys. Your videos are very helpful. Keep posting and stay safe guys.
I have a question regarding pre construction townhouse. How did you manage to find out about the pre construction projects. Are there any websites or did you find with the help of real estate agent. Please let me know. Thank you in advance.
buzzbuzzhomes
@@Potatotalkies thank you so much guys
Guys ... we are a young couple like yourselves based in Kitchener, similar backgrounds and stories as you. Once you guys move do reach out ,would love to connect and chat
That’s awesome 👏
guys, per my understanding Canadian mortgages are always ARM, so your calculations are only valid for 5 years right ? that means you are exposed to interest rate risk ?
Yes correct 👍 always the risk, esp with primary house where you live
When u r wasting time on reels & Potato Talkies drops their video 😆 & u r the first to watch 😎 cafe banana 🍌
Haha 😀
Navjot Sir, can you please make a video on how to budget your income in such a way that you know how much money to spend on buying a first house?
Next video on that 😊
Hi , god bless you your all wish ,I'm from India I follow your all video u both are very hard worker so I really proud of you I'm sengal mother my son his in Brampton his in now work Permit , I ben there 2time hope fully we are met you in future, Hartly bless you! From Roma Dave
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