Current Events > "Renting is for suckers! Stop throwing away your money!"

(+) Yeah! (+)

In Toronto a down payment for a 1 bedroom condo is over $100,000 if you don't want to pay default mortgage insurance on top of your ridiculously expensive monthly payment if you put any less down.
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Go somewhere else.
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Just wait for Canada's housing bubble to pop, you'll be able to scoop up property for 75% off.
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Save up.

When your parents were your age, they worked an extra shift or two down with Bobby to get their first house.

Why not do that too, eh?
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Funkydog posted...

Save up.

When your parents were your age, they worked an extra shift or two down with Bobby to get their first house.

Why not do that too, eh?

I'm on salary
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REMercsChamp posted...

Funkydog posted...

Save up.

When your parents were your age, they worked an extra shift or two down with Bobby to get their first house.

Why not do that too, eh?

I'm on salary

Sounds like you need to pull up your bootstraps then. Maybe ask your boss for a few hundred quid raise a month. Will be plenty to get a downpayment on a house and a car.
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My net monthly rent(utilities incl) is like 500$ for a 19x19 room in the 2nd biggest city in the UK.

thanks but I think ill take that over paying 400,000 for a crappy house when I'm just going back to my country in 20-25 years.

Funkydog posted...

few hundred quid

I'm in Toronto
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Isn't Toronto one of the worst areas in Canada to buy a home?
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FluttershyPony posted...

My net monthly rent(utilities incl) is like 500$ for a 19x19 room in the 2nd biggest city in the UK.

thanks but I think ill take that over paying 400,000 for a house when I'm going back to my place in 20-25 years.

Ew.

You're a brummie?

And how on earth are you paying that little? I pay more in rent alone in Brum.
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FluttershyPony posted...

My net monthly rent(utilities incl) is like 500$ for a 19x19 room in the 2nd biggest city in the UK.

thanks but I think ill take that over paying 400,000 for a crappy house when I'm just going back to my country in 20-25 years.

Why wait? Go back to your country now
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Funkydog posted...

FluttershyPony posted...

My net monthly rent(utilities incl) is like 500$ for a 19x19 room in the 2nd biggest city in the UK.

thanks but I think ill take that over paying 400,000 for a house when I'm going back to my place in 20-25 years.

Ew.

You're a brummie?

And how on earth are you paying that little? I pay more in rent alone in Brum.

I guess brum would be the technical 2nd biggest city, im in manchester.

Its a flatshare, there are rooms that are literal 7x7 jailcels with paper thin walls next to each other on the third floor paying like 420$, I got the one on the 2nd floor all alone and isolated for 500$ worth after complaining non stop about the noise/ventilation.

I never get to see them cause they're theres only 2 other people and theyre eastern euros who just drink carlsberg on the alleys/streets whenever they're not sleeping/at work so I might as well consider it a personal home.

Oh, that explains it. >.>

Still very cheap for Manchester though, but from the conditions.. kinda explains it.
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Funkydog posted...

Oh, that explains it. >.>

Still very cheap for Manchester though, but from the conditions.. kinda explains it.

For a flat share, having a room this isolated and huge is a steal, I've seen ones for students/whatever for like 700$ that are literally on par with american prison cells, usually those scam homes that all the "asian" agencies sell in fallowfield/rusholme

FLUFFYGERM posted...

Just wait for Canada's housing bubble to pop, you'll be able to scoop up property for 75% off.

^^^^^^

(It's free real estate.)
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You can pick anywhere to live within a distance you can tolerate driving everyday. No one is forcing you to live within city limits just because your job is there.
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I can honestly never decide if I want to actually buy a house, or just get an apartment.
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Paragon21XX posted...

You can pick anywhere to live within a distance you can tolerate driving everyday. No one is forcing you to live within city limits just because your job is there.

The outlying areas are just as expensive
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If you buy a home, you have to throw away money as well on PMI, taxes, insurance, maintenance, interest, etc.

Either way, youre throwing away money
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Chicken is the same way.

Have you seen those $1000 gold-plated chicken wings?

How can anyone afford chicken?
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brandunh11 posted...

If you buy a home, you have to throw away money as well on PMI, taxes, insurance, maintenance, interest, etc.

Either way, youre throwing away money

Although, if you do it right, you can throw away money for a few years and be more or less done.

Ever since we paid ours off, homeowner's and property taxes are all we pay on the regular. We did have a full HVAC replacement a few years ago, but that was like one year of rent so
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Buying a house makes more sense for many people
Renting makes more sense for many people
It's almost as if it's stupid to paint every person in every situation with the same brush
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