@@johnnycroatwhen I was a teenager my parents finished the basement and my brother and I lived down there, took care of it had to clean it, it was a great start for future home ownership. My parents never had to deal with my friends, conversations etc. it was a sense of relief for everyone. Whenever I brought a girlfriend over we could watch on TV what we wanted to. ,👍
So true I converted my house to duplex and kept a tenant in basement what a nuisance it turned out to be. Sure rent is great but when it comes to having privacy and peace of mind it’s just not worth the cost.
At the end of the day privacy is priceless, forget laneway houses or basement suites, people only see the dollar signs but ignore all the hassles, and there WILL be hassles.
Not really, we are actually looking for a 3BD basement apartment as that will qualify us for a higher mortgage taking $2500 per month income from a basement apartment. So stop the generalization.
You buy a home because you want to live there with your family. You buy a house because you can’t afford to live there with your family so you need to rent out your basement or empty rooms.
Great advice on the laneway houses. Never thought it be hard to sell. I built a lane way home in the country for the family to hold onto for as long as possible.
Active listing's up 53% y on y Sales Down 36% y on y Amazing how he can't say that Why? Cause the wheels of the car if falling off and he knows it. Btw mortgage rates are rising.......
99 percent of basement apt. Units are illegal....if you put a tenant in one of these ..your insurance will not cover you...the first question asked will be if you had a permit
“As price fall, buyers tend to buy less…” is a logical inversion of basic economics: as demand falls so do prices. You’re putting the cart before the horse.
The last 3 years are posted there. Even if something dramatic happens this February, the crash happened. If you bought in February 2022 as a flipper, nobody's gonna tell you there wasn't a crash.
If I have to choose between a house with an separate entry and a house without one then I will definitely choose the one with a separate door because I want to rent out and make some extra money with that space. That’s why I do not agree with you personally.
People should be worried. By now, we should have seen a double digit % lowering of average price over the last few years. It didn't happen like all the bears here were predicting. But we were seeing double digit INCREASE in prices YOY years ago. Why is this happening? Central bank and government intervention that stopped the FOMO train. Well the train is about to pull into the station again in the form of mortgage preapprovals. The economic pain was not enough, and as housing is canadians primary expense, this is where we will see inflation and the largest price increases first. Remember, average price increase/decrease is driven by bidding wars pulling the best properties UP, and to a lesser extent the worst properties selling for lower.
I would only buy a property with a separate unit because I can always cover the payments whether I want to live there or rent upstairs and downstairs as a rental property. Most people never go into their basements anyway. And you will always cover the mortgage if interest rates explode upward
I agree with you 100%. It is good to have as a back up option during financial setbacks. Also in some markets (Toronto) it is popular, but in some it is not (example rich neighborhoods - where entertainment like bar, gym etc. is popular).
@@freddyfinance6671 my generation has a huge problem with utilizing money. Now that has been said, the boomers were the ones crazy over bidding their 3rd house because they thought they could inflate away the price
LMAO...entitled. I want a 3k square foot home with big backyard and a pool and I don't want to rent the basement, but I work uber for the flexibility and I don't understand why I can't afford it.
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Same goes with renovations as well. One renovates the house for their own use is good but if one is renovating to sell, then chances are that they have cut corners and the new style may not suite the potential buyers.
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Would never convert my basement into a suite, don’t want strangers living under my roof. Just buy what you can afford.
Many feel the same way you do.
maybe family?
@@johnnycroateven worse, they complain more then strangers and want things for free. Not saying all of them but ive seen my share.
@@johnnycroatwhen I was a teenager my parents finished the basement and my brother and I lived down there, took care of it had to clean it, it was a great start for future home ownership. My parents never had to deal with my friends, conversations etc. it was a sense of relief for everyone. Whenever I brought a girlfriend over we could watch on TV what we wanted to. ,👍
We're about to experience and early 90s style crash, it's going to be ugly.
keep sniffing that hopeium
So true I converted my house to duplex and kept a tenant in basement what a nuisance it turned out to be. Sure rent is great but when it comes to having privacy and peace of mind it’s just not worth the cost.
Thanks for sharing your experience.
At the end of the day privacy is priceless, forget laneway houses or basement suites, people only see the dollar signs but ignore all the hassles, and there WILL be hassles.
Not really, we are actually looking for a 3BD basement apartment as that will qualify us for a higher mortgage taking $2500 per month income from a basement apartment. So stop the generalization.
He didn’t say people with your desires don’t exist, just that they were relatively rare and as a seller it was unwise to limit yourself to them.
You buy a home because you want to live there with your family. You buy a house because you can’t afford to live there with your family so you need to rent out your basement or empty rooms.
Great advice on the laneway houses. Never thought it be hard to sell. I built a lane way home in the country for the family to hold onto for as long as possible.
Active listing's up 53% y on y
Sales
Down 36% y on y
Amazing how he can't say that
Why? Cause the wheels of the car if falling off and he knows it.
Btw mortgage rates are rising.......
99 percent of basement apt. Units are illegal....if you put a tenant in one of these ..your insurance will not cover you...the first question asked will be if you had a permit
Even the stupid people have figured out the snake oil sales dribble
“As price fall, buyers tend to buy less…” is a logical inversion of basic economics: as demand falls so do prices. You’re putting the cart before the horse.
I understand and agree with what you’re saying, but in many cases, our real estate market here in the GTA, doesn’t follow that economic model.
If you go by February, then you're down by 25%. This definitely is well in crash territory!
we are only in january, dont get ahead of yourself.
The last 3 years are posted there. Even if something dramatic happens this February, the crash happened.
If you bought in February 2022 as a flipper, nobody's gonna tell you there wasn't a crash.
what a disaster lol
If I have to choose between a house with an separate entry and a house without one then I will definitely choose the one with a separate door because I want to rent out and make some extra money with that space. That’s why I do not agree with you personally.
What are they looking for?
People should be worried. By now, we should have seen a double digit % lowering of average price over the last few years. It didn't happen like all the bears here were predicting. But we were seeing double digit INCREASE in prices YOY years ago. Why is this happening? Central bank and government intervention that stopped the FOMO train. Well the train is about to pull into the station again in the form of mortgage preapprovals. The economic pain was not enough, and as housing is canadians primary expense, this is where we will see inflation and the largest price increases first. Remember, average price increase/decrease is driven by bidding wars pulling the best properties UP, and to a lesser extent the worst properties selling for lower.
I would only buy a property with a separate unit because I can always cover the payments whether I want to live there or rent upstairs and downstairs as a rental property.
Most people never go into their basements anyway. And you will always cover the mortgage if interest rates explode upward
*only boomers don't use their basements.
I agree with you 100%. It is good to have as a back up option during financial setbacks. Also in some markets (Toronto) it is popular, but in some it is not (example rich neighborhoods - where entertainment like bar, gym etc. is popular).
@@donm2067boomer here, use my basement to it’s fullest, only millennials get into blind bidding wars because they fear missing out😅😅😅😅
@@freddyfinance6671 my generation has a huge problem with utilizing money.
Now that has been said, the boomers were the ones crazy over bidding their 3rd house because they thought they could inflate away the price
It’s surprising to hear this. You would think a mortgage helper is a benefit, especially for first time buyers.
UBI 🇨🇦 🎉 WooHoo
Mazda MX-5, convertible and manual still available.
Toyota Mr2 spyder. Rarer.
Just sold mine… great car
Bring a good news please just for a chance
Interesting. I guess people still value privacy rather than being a landlord.
Hey Santo is the lambo standard or automatic?
I should be asking you Mr Dirty Burger…Is your lambo standard or automatic?
With inflation taken into account, It means the house value has gone down 15-20% compared to 2022
LMAO...entitled. I want a 3k square foot home with big backyard and a pool and I don't want to rent the basement, but I work uber for the flexibility and I don't understand why I can't afford it.
Your videos brighten my day, and I’d love to contribute to your success! I specialize in video editing, thumbnail creation, and SEO, ensuring your uploads look polished and professional. Let’s connect for a brief call tomorrow to explore how I can support you in producing consistent and amazing content.
Lmfao😂 "don't take these numbers too serious"
😂😂😂
Oh no...if you bought a semi in December you just torched about $360k.
It's not serious. Lmao.
actually you need to wait until dec 2025 to know that.
Nice Omega
👍 thanks
According to this channel....people don't like anything....just free real estate ! Good luck people!
The muppet boiler room condo flipping market is dead 😂
Same goes with renovations as well. One renovates the house for their own use is good but if one is renovating to sell, then chances are that they have cut corners and the new style may not suite the potential buyers.
So true.
U will barely get dollar for dollar now on a reno...50 points at best
Yes because again..99.9 percent of basement apt. Are illegal and disgusting
People dont know how to to make money
Over 2 minutes talking about cars?? Wtf Santo… sbrigati
Do you have something against cars?🚗 😂 😂
@@teamsessaHe has a point
nice shirt
Is it just me or does it feel like the crypto market is finally waking up? 🚨 XRP could easily break above $2.90, and with institutional investors backing it, the sky’s the limit. #XRPArmy 🌍💰
All the properties that are condos that are not selling their bachelors and they are destroyed
???
Of yu buy a multimillion house wit no pool. You will never sell it. These people want a Caribbean resort at their home