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Old Jan 12th 2018, 7:03 pm   #46
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Default Re: How realistic are my expectations? London to Toronto

I have to add to some of the latest comments. What you are looking for may be 10 years to late, the way the property market has been here. The same can also be said for parts of Australia.

The dream is still being sold to the UK. The reality is very different.
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Old Jan 12th 2018, 10:45 pm   #47
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Default Re: How realistic are my expectations? London to Toronto

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I have to add to some of the latest comments. What you are looking for may be 10 years to late, the way the property market has been here. The same can also be said for parts of Australia.

The dream is still being sold to the UK. The reality is very different.
Ok, keeping GTA aside for now, is there anywhere left in Canada where I can get what i want AND has a decent local IT job market?
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Old Jan 12th 2018, 10:57 pm   #48
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Default Re: How realistic are my expectations? London to Toronto

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Ok, keeping GTA aside for now, is there anywhere left in Canada where I can get what i want AND has a decent local IT job market?

I looked and there are some properties 2500 sq ft for around $1mi and a few (very few) freehold properties in Hamilton for less than $250k so it is possible in the GTA. Sorry, we have been a bit negative in our responses.
When we came we were also thinking of mortgage free living but when we saw the properties that we could afford with a mortgage we went that way. We have not regretted it.
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Old Jan 13th 2018, 12:41 am   #49
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Default Re: How realistic are my expectations? London to Toronto

I am tending to agree with @Hgerchikov, looking back at you role. Your may want to focus on the Waterloo/Kitchener area more startup culture.

Ottawa or Montreal may also work for you.

I agree some of the posts may not have been the shining example of emigration, but hey this is the reality from people who have moved and not trying to sell you the dream.

Last edited by Siouxie; Jan 13th 2018 at 1:45 am. Reason: Removed first name, privacy :)
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Old Jan 13th 2018, 1:08 am   #50
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Default Re: How realistic are my expectations? London to Toronto

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I am tending to agree with @Hgerchikov, looking back at you role. Your may want to focus on the Waterloo/Kitchener area more startup culture.

Ottawa or Montreal may also work for you.

I agree some of the posts may not have been the shining example of emigration, but hey this is the reality from people who have moved and not trying to sell you the dream.
I thought I was reasonably positive. I think Winterdiva's original idea is achievable. They work in banking though and that very likely means downtown Toronto.

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Old Jan 13th 2018, 1:21 am   #51
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Default Re: How realistic are my expectations? London to Toronto

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Ok, keeping GTA aside for now, is there anywhere left in Canada where I can get what i want AND has a decent local IT job market?
Does it make a difference if you have one rather than two investment properties? Or even none if you're both working.

If you had in mind renting out, is it possible that rental income may have been similarly under estimated? Maybe you might get as much from one as you thought for two, if you see what I mean?
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Old Jan 13th 2018, 1:49 am   #52
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Default Re: How realistic are my expectations? London to Toronto

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Does it make a difference if you have one rather than two investment properties? Or even none if you're both working.

If you had in mind renting out, is it possible that rental income may have been similarly under estimated? Maybe you might get as much from one as you thought for two, if you see what I mean?
Good point! Rental prices for 3 bedroom detached houses in the Hamilton area range from around $1,600 to $2,700, so there can be a decent return, particularly if it's mortgage free or a low mortgage.

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Old Jan 13th 2018, 6:16 am   #53
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Default Re: How realistic are my expectations? London to Toronto

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If you are looking for investment property, these days Hamilton is likely your best bet.
Unfortunately Hamilton has got quite a bit more expensive in the last few years. My niece bought a small 3 bed semi-detached in Stoney Creek for $230k five years ago. She's just had it valued in November - It's now worth $480k.

The 3.2 house we sold in Burlington in 2006 for $275k is currently on the market for $649k!!
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Old Jan 14th 2018, 10:02 pm   #54
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Default Re: How realistic are my expectations? London to Toronto

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I am tending to agree with @Hgerchikov, looking back at you role. Your may want to focus on the Waterloo/Kitchener area more startup culture.

Ottawa or Montreal may also work for you.

I agree some of the posts may not have been the shining example of emigration, but hey this is the reality from people who have moved and not trying to sell you the dream.
Thank you - reality is what we are after. I'd rather hear it now than realise the hard way after we move mountains and get there!
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Old Jan 14th 2018, 10:05 pm   #55
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Default Re: How realistic are my expectations? London to Toronto

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Good point! Rental prices for 3 bedroom detached houses in the Hamilton area range from around $1,600 to $2,700, so there can be a decent return, particularly if it's mortgage free or a low mortgage.

Good point. Something to think about!
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Old Jan 14th 2018, 11:57 pm   #56
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Default Re: How realistic are my expectations? London to Toronto

You should also realise that selling a house that is not your primary residence can lead to a huge tax bill, depending on how much the assessment has risen on the secondary property since since you bought it.

You could get really dinged at that point.
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Old Jan 15th 2018, 12:11 am   #57
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Default Re: How realistic are my expectations? London to Toronto

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You should also realise that selling a house that is not your primary residence can lead to a huge tax bill, depending on how much the assessment has risen on the secondary property since since you bought it.

You could get really dinged at that point.
I will counter that by saying that to prevent that you need to buy in NS. We lost approx $200,000. No negative CGT unfortunately.
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Old Jan 15th 2018, 12:25 am   #58
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Default Re: How realistic are my expectations? London to Toronto

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I will counter that by saying that to prevent that you need to buy in NS. We lost approx $200,000. No negative CGT unfortunately.
I lost money on several houses around the GTA. I expect a determined, or hapless, person might do the same with a house purchased today.
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Old Jan 15th 2018, 12:38 am   #59
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Default Re: How realistic are my expectations? London to Toronto

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I lost money on several houses around the GTA. I expect a determined, or hapless, person might do the same with a house purchased today.
That must have been a while back. Since we’ve been in ON prices have only increased. Which made the pill even harder to swallow.
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Old Jan 15th 2018, 12:51 am   #60
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Default Re: How realistic are my expectations? London to Toronto

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That must have been a while back. Since we’ve been in ON prices have only increased. Which made the pill even harder to swallow.
Last loss making house was sold about four years ago, the previous one about seven years ago. We sold another house around five years ago, sadly I don't remember what we paid for it, nor what we sold it for, we may have won on that one. Note that I'm comparing only sale prices, if you include the cost of sale I think it's still easy enough to lose money.
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