Cant buy much these days with $300k

[Skibadee]

Im a grumpy first timer who can buy anything.

This market blows. Crapy houses in price wars, condos over priced

It really blows to be a first timer.

Is there no end to the madness?

Do I just bend over and over pay like everyone else?



Thanks my rant

Thanks bye

 

[AGTO]

Im a grumpy first timer who can buy anything.

Good for you, most of us have to abide by a budget.

 

[MBS-Guru]

prices are not that bad ... this is Toronto, the biggest city in Canada. A tier 2 world class city so expect houses to be expensive..... How do you think New Yorkers, Chicagoans, or Los Angelans feel ???.

 

[Skibadee]

blah

I need home ownership

 

[bAuHaUs]

Im a grumpy first timer who can buy anything.

This market blows. Crapy houses in price wars, condos over priced

It really blows to be a first timer.

Is there no end to the madness?

Do I just bend over and over pay like everyone else?



Thanks my rant

Thanks bye

So the next thing to consider is do you want to commute...I'm on a 1/2 acre property, with a beautiful ranch-style bungalow in equally beautiful Brooklin Ontario; paid just over $300K. My commute is easily 1 hour each way into the office at DVP/401. I consider my home an asset that will be passed on to my children...it's not easy to own a home in Toronto these days. Good Luck.

 

[Skibadee]

At this stage in my life early 20's I dont want to be doing the 1 hour job back and forth to the DR every day.

Plus with aging parents in Toronto , I dont want to be too far away either.

Thanks for the thoughts

 

[urbandreamer]

Live in basement of your parent's home and help them as they age. You then inherit a free house.

 

[bAuHaUs]

I agree. I'm in my late 30's now and recall having to make the same decision as yourself when I was 20 something. I started in the city but now find myself enjoying the year-round cottage life. The commute isn't glamourous nor do I enjoy it some days, however the great reward is what I have everyday to enjoy with my family. Hang in there, you'll find your way soon enough.

 

[gcuz]

I am also a first time buyer and was utterly AMAZED at what people were spending over asking for 1bdr condos. I ended up buying in a building that is WELL under construction and paid about $25 000 less for a 1+ then what alot of dumb layout 1s ended up going for. Sure it sucks that I have to wait a year(ish) to move in, but I refused to go into bidding wars! My bank is also willing to hold a fixed rate from todays rate for me when I close.

 

[andrejeffry]

nothing wrong with living in the basement of your parent's house, almost rent-free. You can save a lot of money. Some people don't have that luxury, I had to fight and scratch tooth and nail living on my own since I was 17, so consider yourself lucky.

 

[UrbanVigor]

Depending on where you work in Toronto, commuting for an hour or more may just not be a reasonable option.

The shorter the commute, the better your lifestyle. I used to do the big commute in my early 20's and since getting jobs on the subway line or a short drive from where I live, my lifestyle has certainly benefited.

 

[caddyfleet]

you can get lots of places for 300k,. just depends where you want to live and if you want a new or used unit.

 

[UserNameToronto]

There are a number of (small 700-1000 sqft) houses in Corktown, Riverside, Little India, and East Chinatown that have sold in the past year for about $280-330K. These are cheaper per square foot than a condo, and of course don't have maintenance fees.

 

[detroitbootybass]

How do you think New Yorkers, Chicagoans, or Los Angelans feel ???.

Toronto looks cheap compared to NYC.

LA and Toronto's median home prices are roughly the same.

Chicago is notably cheaper than Toronto by about $100,000 (again, median home prices).


While Toronto isn't super expensive, it isn't cheap either. In fact, it's closer to the former than the latter.

 

[BrianPersaud]

Toronto looks cheap compared to NYC.

LA and Toronto's median home prices are roughly the same.

Chicago is notably cheaper than Toronto by about $100,000 (again, median home prices).


While Toronto isn't super expensive, it isn't cheap either. In fact, it's closer to the former than the latter.

Remember, We don't have lenders willing to shoot themselves in the head to inflate prices to Chicago, Sydney, New York levels.