Step 1: See if your eligible to emigrate to another country where wages are higher and housing costs are lower. Step 2: Realize you're screwed and ask mommy and daddy for help with the down payment or co sign. Step 3: Come to the realization that this bubble will ruin you if you buy into it while maxing out your debt loads. Step 4: Live in someone's basement and slowly fall into crippling depression. This is the way.
Your video was our first stop Tom, thanks. Question: we live in Toronto, but are looking at our first property purchase in Regina. It would ultimately be for our retirement, but we'd be arranging for my partner's sister to live in it and pay rent at a reasonable rate, possibly below market for rent. Would this still count as an investment income?
Hi Tom - This was a great video, extremely insightful!. I'm looking to purchase a freehold townhouse, semi, or detached in the Milton/Mississauga/Oakville area. Any real estate agents or mortgage brokers you can recommend? Thank you!
Hi., just let me know how.. I earn 25k annually..(part time) House 13. 2k Grocery 5k Travel 1.8k Health 2k Phone 600 Bal- 2.5k.. So, could you put down the road map..
I’m trying to figure out how a first time homebuyer putting less than 20% can afford a million dollar mortgage. If their income is high enough to qualify for a million dollar plus mortgage, shouldn’t they be able to save up for the down payment 🧐
have two students in the 3rd and 4th bedrooms at $1000 each, and STR the basement suite. Can pull down $5000k a month forever that way. By my math, this almost makes you mortgage free.
Just watching as I am starting to look at buying a place for the first time, great video by the way, when I just now noticed your watch 25:03 🔥 love the look of the watermelon. I have the chocochip mint version
I saved 32k in our FHSA's and going to save more but can we use this money for lawyer fees etc if I keep maxing it out while saving and hunting. Going for 5% down on a house in price range of 400k to 450k.
Don't worry , put 20% down on a $1,000,000 starter home and all that's left to do is get a $800,000 mortgage , piece of cake.
Is it possible to find home that costs 1M in current scenario?
Common Tom Storey W
Great info! Thanks!
Step 1: See if your eligible to emigrate to another country where wages are higher and housing costs are lower.
Step 2: Realize you're screwed and ask mommy and daddy for help with the down payment or co sign.
Step 3: Come to the realization that this bubble will ruin you if you buy into it while maxing out your debt loads.
Step 4: Live in someone's basement and slowly fall into crippling depression.
This is the way.
So if your down payment money and closing costs are all in your rrsp and Fhsa how would you pay for the deposit with a short turnaround time?
Your video was our first stop Tom, thanks.
Question: we live in Toronto, but are looking at our first property purchase in Regina. It would ultimately be for our retirement, but we'd be arranging for my partner's sister to live in it and pay rent at a reasonable rate, possibly below market for rent.
Would this still count as an investment income?
Thanks for watching! I believe it would still be counted, however this is something I’d want you to have confirmed by an accountant.
perfect timing! thanks
Hi Tom - This was a great video, extremely insightful!. I'm looking to purchase a freehold townhouse, semi, or detached in the Milton/Mississauga/Oakville area. Any real estate agents or mortgage brokers you can recommend? Thank you!
Please send me an email at tom@storeyteam.ca and I’ll connect you with someone great!
Hi., just let me know how..
I earn 25k annually..(part time)
House 13. 2k
Grocery 5k
Travel 1.8k
Health 2k
Phone 600
Bal- 2.5k..
So, could you put down the road map..
I’m trying to figure out how a first time homebuyer putting less than 20% can afford a million dollar mortgage. If their income is high enough to qualify for a million dollar plus mortgage, shouldn’t they be able to save up for the down payment 🧐
Likely having parents co-sign.
have two students in the 3rd and 4th bedrooms at $1000 each, and STR the basement suite. Can pull down $5000k a month forever that way. By my math, this almost makes you mortgage free.
Just watching as I am starting to look at buying a place for the first time, great video by the way, when I just now noticed your watch 25:03 🔥 love the look of the watermelon. I have the chocochip mint version
Studio Underd0g is such a fun watch brand. Hope you’re enjoying yours!
14:55 You mean 2% higher not 2 basis points, right?
Correct, thanks for catching that.
I saved 32k in our FHSA's and going to save more but can we use this money for lawyer fees etc if I keep maxing it out while saving and hunting. Going for 5% down on a house in price range of 400k to 450k.
how is that possible the accounts were only able to open 2023 so max you could have in now is 16 000
8k each last year in December, 8k each this year.
the 30 year is for new builds
Not just new builds. Also, first time homebuyers buying resale.