How can we afford 2 houses 🏘⁉️
ฝัง
- เผยแพร่เมื่อ 6 เม.ย. 2021
- We talk about how we are able to afford 2 mortgages and why this condo will be our first house and not second. We talk about our out of pocket expenses and what we will need to do in order to close the 2nd house - risks, benefits and cost advantages.
Get in touch with our Mortgage broker (Vik): www.potatotalkies.com/mortgage
First time home buyer incentive: www.placetocallhome.ca/fthbi/...
Disclaimer: These videos are our personal views and opinion, they should NOT be considered as legal advice. We are not affiliated with any government organization or division. We assume no liability for how the information on this channel is used or interpreted and hence take no responsibility for any decisions that is made with regards to your application based on the information shared on this channel.
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We don't like immigration agents - the ones' that aren't authorized by ICCRC and qualified to help you with your application in exchange for money - first of all, it's not legal to do that, and second of all, it's so easy that you don't really need paid help! We are a young couple who started their Canadian Immigration journey in 2018 and moved to Canada 3 days before the pandemic hit in March 2020. Over the course of our application, we have seen so many people getting screwed over by greedy / fraudulent and unauthorized immigration consultants who promise you the world in exchange for thousands of dollars and deliver a whole lot of NOTHING; to an extent that in many cases, the applications get rejected, due to their negligence.
Therefore, we are taking matters in our own hands. After months of research and our own experience of applying for a Canadian PR, we came up with an e-book series & this TH-cam channel which would include - errors to avoid, perfect sample documents (my own) and alternate ways of immigrating to Canada - 100 pages of absolute goldmine between these 3 e-books - no filters, no premium versions to these ebooks... everything is out there FOR FREE, for you to read and execute the process yourself! All we are doing in these ebooks is sharing our experience of applying for PR ourselves / structuring and pointing you in the right direction via various different resources that are available on IRCC's official website. The TH-cam channel will compliment the e-book and add some personality and entertainment to the entire process :-)
Volume 1: Step by step express entry process from know nothing about immigration all the way to getting an invitation to apply (ECA, IELTS etc). Download here - www.potatotalkies.com/
Volume 2: Post ITA express entry process - documentation, samples, POF, Proof of work, medical, biometrics all the way to getting a stamped passport ;-) Download here - www.potatotalkies.com/
Volume 3: Alternate ways of moving to canada | Provincial Nominee program - OINP, AINP, MPNP, NSNP, SINP, RNIP and more. Download here - www.potatotalkies.com/
Save your money, and if you find these e-books useful, do not forget to buy us a coffee when you reach Canada :-)
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#housebuying #mortgageapproval #affordability #potatocouple #immigratetocanada #ultimateplaybook #youtube #ebook #expressentry #potatocouple #movetocanada #lifeincanada #canadavlogs #lifeincanada
![Do NOT Make These Mistakes With Your First House! [Home Buying Guide]](/img/n.gif)
In addition of immigration, you can open a channel full time for investment (especially house buying)
Very well thought out! Hearty congratulations!
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 .
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 😀
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..!
Interesting! Thank you for sharing it. ✌️
Congratulations!
I am still looking for buying my 1st property in Kitchner.
Keep motivating 💪👍
Well calculated move. Really an inspiration for us. All the best guys
It is realistic, 2 earners can own 2 houses. Also you will be saving on rent so its a good thing.
Omg!! Congratulations on finalising the condo. Waiting for a full house tour 🙌
Thank you 😍
We are waiting to show you
Good luck guys. You will for sure succeed with all your plans.
Great information!
Congratulations.... Good decision.. Excellent compare and analysis..
Can't wait to see the new condo tour ❤️
Soon soon 🔜
You guys are smart.
You deserve all the success, much love ☺️
😊👏
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 😊
Congratulations Guys!
Keep it up (risk ❤️ ishq) 👍
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 😊
Congratulations 🍾 this was very informative video . All the best
The amount of information u guys r giving is phenomenal 💟
Thanks 😊
Love your channel, all the best guys
👏👏
Awesome guys great work keep it up ❤️
😀👍
Fortune favors the brave. 👍🏻👍🏻 Charhdi kalaa..
Congratulations !!
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
On point videos all the time 👍🏻
Thanks 😊
All the best guys!!!
Thank you 😊
Risk hai toh Ishq hai! All the best guys!
Good decision....smart move....👍 luck paaji.....keep posting..
Informative contents in every video.
Love from ODISHA
Awesome guys happy for you
Congratulations....love the transparency in numbers...👍👍
👏👏
U will be fine don’t worry
Congratulations 🥔
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.
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.
Good information 👍
This is a very calculative risk.. Good job!
Thanks 😊
*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 👍
Love your gap hoodies bro hehe
Congratulations guys
Very informative video
Another outstanding video...Both of you are doing great job Guys....Best Wishes....Cant wait to see your house tour :)
Thanks 😊
God Bless you both 🙏👍🤑
Totally love you guys spirit and confidence. Exactly "why not" . Risk tou lena parta hain 😁
👏👏
love your channel
You guyz did great deeds in previous lives. God lives in ur pockets.
🤗
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
lots of love and blessings...from punjab
Ekdam perfect calculations he
Love you paaji ❤
Thank you 🤗
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 😊
👍👍excellent.
The way u guyz put down things
I m ur fan 😃
🤗🤗
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.
👍🏻.. quite informative👌🏻
Thanks 😊
Waiting to meet you soon guys all the best blessings
😀😀
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?
Excellent
You guys always use green board and show us calculations that’s really helpful ,not like hawa hawa me baate like other channels 😂😂💜
It's truly a blessing to find a partner with same goals, all the best guys👍
Great update. Congrats to you guys. Regarding mortgage did you get a fixed rate of 1.29% ?
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
👏👏
Mast info bhai and bhabhi...😘😘😘😘😘😘
Thank you 😀
Congratulations 💐🎊
Thanks 😊
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?
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
Love you both Potato Couple 😘💕💕😙😙😘💕💕💕💕
Love you too 🤗
Congratulations guys 💐 I know in next 10 years you guys will be Canada's multimillionaire.
😍
Hello
Potato Talkies
A big fan of yours from your neighbor country Pakistan 💚
Thanks 😊
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 👍
Always lv to watch ur vlog😘😘😘🙏
Risk hai to ishq hai 👍
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 luck
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.
FYI, there are condo townhouses as well :)
Yes true... but the way prices are going right now... they are trending like freeholds
Big fan of u ❤️
🤗
Amazing phaji 👍🙏
Thanks 😊
Phaji drone shots jada liya karo videos mein...👍🙏
Next vali mein pakka 😃
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
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 👍
Please make video on topic of certified personal trainer job in Canada and fitness career opportunitys
Please make a video on parents PR or if we intend to move them, what to expect in terms of heath insurance cost
You guys are just so amazing !! Can’t express ❤️
Thank you 😍
Can you guys make the same video, but in English only? Sounds like a lot of good info!
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 😀
I love you both
Love you too 😊
Awesome guys. Question rule of
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 👍
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.
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 :)
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.
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.
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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When u r wasting time on reels & Potato Talkies drops their video 😆 & u r the first to watch 😎 cafe banana 🍌
Haha 😀
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
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.
Hi guys. Congrats and good luck.
Please make some videos about study in germany cost tips requirements and pr.
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 👏
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 😊