Unless you absolutely have to, and that's in very few cases, buying when there are bidding wars on nearly every property makes very little sense for most buyers. Great point!
Feel free to prove me wrong, but I think buying a house in the city is the stupidest thing anyone can do right now, when buying property outside of the city maybe out in the country somewhere is a far better idea especially long term.
Guys, dont buy, and dont rent. Move into a van... Im trying to crash this country so we can afford a home in one years time. We gotta flush the investors outta here
What about the fact that there are hardly any single home being built vs townhome and condo in the last few years ? I already own a townhouse and in my market the difference has always been 100k-200k difference (double car garage) but the gap is getting wider fast in the last few year. the FOMO is that I wont beable to afford a double car garage single home with a decent lot in a few years.
In the VERY same situation. Living in the big city in a executive townhouse "condo" Want to move out of the city into wider open air space... but I KNOW I missed that boat in late 2020 and early 2021 Since then the value of my city town house is actually gone down about 75K in actual dollars in the last 3 years.. but those properties I'm interested in. 3 bedroom+ 2 or 3 car garage (or room to build one) 5+ acres with no encroaching wind farms or planned new higher density narrow/tall link/towns anywhere near that spot are basically unicorns and as a result.... They are 400-600K More now they they were 3 ish years ago. Here's hoping all those government remote workers that had 100% job security during the lockdowns coupled with 100% remote work status (at least at that time) who were in a safe position to do what I had always planned to do once my children finished high school.... It's reversed the value for me to make the switch. All the upfront cost and tight budgeting while my kids were growing up. Doing without personally in order for them to have everything my parents gave me (one single income mind you) My wife and I have had to work our butts off. All now so that the investor class and even foreign investors can park their $$ in our homes since it was safe... Now that they are pulling out due to the cost of borrowing is cutting into their investment strategy.. the rest of us have to live with the fallout of the imbalanced nature of the last 7-10 years.
@@REALESTATE100SHOW My house is paid off, it’s worth 700k$, but I still find it overly expensive to buy a lakeside cottage, remember it’s not a main house.
You should buy it when that question is not foremost on your mind. You buy a cottage because you can afford it. If you are worried about its value rather than the joy it brings you you should probably rent.
when rates go down I buy crypto. 2021 got crypto, sold 2022. 2024 got crypto again, sell 2025-2026. From 50k 2021 downplayment and a middle finger to my pre sale condo realtor, to 200k downplayment in 2026 lol.
Absolutely epic collapse in real estate values well underway in Canada. As oil prices continue to swoon the ability of the Government of Canada to finance anything swoons with that. The United States currently doesn't even need any oil given battery electric trucks and delivery Vans now only just now entering full run rate production #big_battery but yes the USA will take said oil to keep the oil refineries running flat out going into the 2024 election. As relates to products like steel, aluminum, copper, wood products all necessary for building out right proper habitation tho all demand for this is starting to plunge everywhere so people need to be deadly serious about the implications of a hyperinflation in Canada right now today 😊
omfg. People nonstop complain "I can't afford a house", In under ONE MINUTE I am able to find THOUSANDS of move-in-ready really nice homes in Canada for sale under $150K. Over a thousand homes under $100K, some even $32K , 2-3 bedrooms, really clean and ready to move in. Even with 20% down payment, it will set you back $6500-10K at the most? Then your monthly mortgage at 4.5% is $142 to $250 per month max Last I checked, isn't that cheaper than paying rent? Here's the issue: People will look at these homes, in rural/smaller areas of Canada, then begin complaining over everything else but the fact that this is a ridiculously affordable home. So if that is the case, then keep paying your insane rent prices and STFU. My point is: You can keep listening to guys like this Nolan guy who will blab that things are horrible/worse/etc. Or you can stop paying insane rents...and BUY A HOUSE. I guarantee you, it will be the best decision you have ever made. Nolan, I am BEGGING you. Next time you are at someone's place that has a computer hooked up to the internet, ask them if they can help you use the computer...in the browser, do a search (they can help you) for houses in Canada under $200K. Your friend can show you all these homes for sale, then ask yourself: Are these homes move-in-ready? Ask your friend to them google this thing called the "Charter of Rights and Freedoms", look under section 6(2), I'll post it here incase your friend is too busy to help you: "(2) Every citizen of Canada and every person who has the status of a permanent resident of Canada has the right: to move to and take up residence in any province; and. to pursue the gaining of a livelihood in any province." There is NO EXCUSE not to own a house in Canada. ZERO.
Give your head a shake. There is NOT an abundance of affordable homes in canada. Let alone really nice ones for 100,000. Sure, maybe if you really lower your standards and you feel like packing up your whole life and moving 8hrs+ where theres no jobs or infrastructure, away from family and finding a new career. Don't try and make it seem like it's something easy for most people to do.
Dude your delusional. Are these $30k homes in good locations? With nature? Access to close enough airport? Proper schools? A diverse economy? People are looking for a "home" in wherever they've made their "home town". Sure, they can look elsewhere and should... But if its going to be a 16hr drive and there's only a grocery store there then...
@@Pyncont It took me less than 10 seconds to find hundreds of really nice move-in ready homes for sale all over Canada for under $100K. You should try using the internet sometime, it's a neat device.
This is great advice. I quit my job and moved into the middle of nowhere and, yeah I’m starving, and yeah I haven’t seen another human for the past 40 days and yeah can’t afford to keep the lights on but I have a house! Way better than renting!
Great advice.
Thanks for not preseting like a usual Realtor but as a genuine person !
It’s easy when you’re not a realtor 😉
Interesting take! Thanks for sharing your thoughts.
Great video. Really appreciate it. Very informative I hope everyone watches this videos
Thank you 🙏
Thanks for clicking!..
🤣 wrong guy
@@REALESTATE100SHOW 😄
Unless you absolutely have to, and that's in very few cases, buying when there are bidding wars on nearly every property makes very little sense for most buyers. Great point!
Thanks Nolan for the great advice you've provided! To many FOMO videos making people make bad decisions!
100% agree with you. Thank you 🙏
Feel free to prove me wrong, but I think buying a house in the city is the stupidest thing anyone can do right now, when buying property outside of the city maybe out in the country somewhere is a far better idea especially long term.
That boyfriend example sounded like it was close to home. Excellent analysis - very helpful and fair.
Thank you
Maybe 😏
Guys, dont buy, and dont rent. Move into a van... Im trying to crash this country so we can afford a home in one years time. We gotta flush the investors outta here
What about the fact that there are hardly any single home being built vs townhome and condo in the last few years ?
I already own a townhouse and in my market the difference has always been 100k-200k difference (double car garage) but the gap is getting wider fast in the last few year.
the FOMO is that I wont beable to afford a double car garage single home with a decent lot in a few years.
In the VERY same situation. Living in the big city in a executive townhouse "condo" Want to move out of the city into wider open air space... but I KNOW I missed that boat in late 2020 and early 2021 Since then the value of my city town house is actually gone down about 75K in actual dollars in the last 3 years.. but those properties I'm interested in. 3 bedroom+ 2 or 3 car garage (or room to build one) 5+ acres with no encroaching wind farms or planned new higher density narrow/tall link/towns anywhere near that spot are basically unicorns and as a result.... They are 400-600K More now they they were 3 ish years ago. Here's hoping all those government remote workers that had 100% job security during the lockdowns coupled with 100% remote work status (at least at that time) who were in a safe position to do what I had always planned to do once my children finished high school.... It's reversed the value for me to make the switch. All the upfront cost and tight budgeting while my kids were growing up. Doing without personally in order for them to have everything my parents gave me (one single income mind you) My wife and I have had to work our butts off. All now so that the investor class and even foreign investors can park their $$ in our homes since it was safe... Now that they are pulling out due to the cost of borrowing is cutting into their investment strategy.. the rest of us have to live with the fallout of the imbalanced nature of the last 7-10 years.
When should I buy a lakeside cottage?
A friend of mine 20 years older bought one in 2004 for 120k$ Buying the same right now is 700k$
When you don’t have a mortgage on the house you live in 😀
@@REALESTATE100SHOW My house is paid off, it’s worth 700k$, but I still find it overly expensive to buy a lakeside cottage, remember it’s not a main house.
You should buy it when that question is not foremost on your mind. You buy a cottage because you can afford it. If you are worried about its value rather than the joy it brings you you should probably rent.
when rates go down I buy crypto. 2021 got crypto, sold 2022. 2024 got crypto again, sell 2025-2026.
From 50k 2021 downplayment and a middle finger to my pre sale condo realtor, to 200k downplayment in 2026 lol.
"There's always a book"
Absolutely epic collapse in real estate values well underway in Canada. As oil prices continue to swoon the ability of the Government of Canada to finance anything swoons with that. The United States currently doesn't even need any oil given battery electric trucks and delivery Vans now only just now entering full run rate production #big_battery but yes the USA will take said oil to keep the oil refineries running flat out going into the 2024 election. As relates to products like steel, aluminum, copper, wood products all necessary for building out right proper habitation tho all demand for this is starting to plunge everywhere so people need to be deadly serious about the implications of a hyperinflation in Canada right now today 😊
I wouldnt trust you with the task of making a potato salad, let alone do any real analysis
Good to know. *eats potato salad*
omfg.
People nonstop complain "I can't afford a house", In under ONE MINUTE I am able to find THOUSANDS of move-in-ready really nice homes in Canada for sale under $150K.
Over a thousand homes under $100K, some even $32K , 2-3 bedrooms, really clean and ready to move in.
Even with 20% down payment, it will set you back $6500-10K at the most? Then your monthly mortgage at 4.5% is $142 to $250 per month max
Last I checked, isn't that cheaper than paying rent?
Here's the issue: People will look at these homes, in rural/smaller areas of Canada, then begin complaining over everything else but the fact that this is a ridiculously affordable home. So if that is the case, then keep paying your insane rent prices and STFU.
My point is: You can keep listening to guys like this Nolan guy who will blab that things are horrible/worse/etc.
Or you can stop paying insane rents...and BUY A HOUSE. I guarantee you, it will be the best decision you have ever made.
Nolan, I am BEGGING you. Next time you are at someone's place that has a computer hooked up to the internet, ask them if they can help you use the computer...in the browser, do a search (they can help you) for houses in Canada under $200K. Your friend can show you all these homes for sale, then ask yourself: Are these homes move-in-ready?
Ask your friend to them google this thing called the "Charter of Rights and Freedoms", look under section 6(2), I'll post it here incase your friend is too busy to help you:
"(2) Every citizen of Canada and every person who has the status of a permanent resident of Canada has the right: to move to and take up residence in any province; and. to pursue the gaining of a livelihood in any province."
There is NO EXCUSE not to own a house in Canada. ZERO.
Give your head a shake. There is NOT an abundance of affordable homes in canada. Let alone really nice ones for 100,000. Sure, maybe if you really lower your standards and you feel like packing up your whole life and moving 8hrs+ where theres no jobs or infrastructure, away from family and finding a new career. Don't try and make it seem like it's something easy for most people to do.
Dude your delusional. Are these $30k homes in good locations? With nature? Access to close enough airport? Proper schools? A diverse economy? People are looking for a "home" in wherever they've made their "home town". Sure, they can look elsewhere and should... But if its going to be a 16hr drive and there's only a grocery store there then...
@@Pyncont It took me less than 10 seconds to find hundreds of really nice move-in ready homes for sale all over Canada for under $100K.
You should try using the internet sometime, it's a neat device.
🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡
This is great advice. I quit my job and moved into the middle of nowhere and, yeah I’m starving, and yeah I haven’t seen another human for the past 40 days and yeah can’t afford to keep the lights on but I have a house! Way better than renting!