checked how much we can borrow, is it worth it?
 

Hi all,
i had a quick look at a canadian mortgage calculator and it would appear the max house price we could afford is about $245k. ive looked at calgary and were not getting anything much decent for that! it makes me question if it is plausable to make the move? not that we want a mansion but i certainly wouldnt be downgrading from what we have, opinions plz?
thanx

Re: checked how much we can borrow, is it worth it?
 

Howabout considering another area of Canada where $245k buys you a decent house?

Re: checked how much we can borrow, is it worth it?
 

Depends what your motivation for making the move is surely? Also it depends what you expect your income to be in the long term too.

If you want to come to Calgary for what Calgary has to offer, then its probably worth downsizing for a while?

Maybe you could save more before buying here?

If you think your income likely to go up to a point that you can get the nice house relatively soon, then its probably worth it.

If you just want a big house now, then maybe its not....

The exchange rate isnt helping people arriving now any either, but these things change....if only my crystal ball worked better.

Re: checked how much we can borrow, is it worth it?
 

In Manitoba these house are available in the $240,000 to $250,000 range"-

http://my.mlxchange.com/Pub/EmailVie...70&s=WPG&t=WPG

Re: checked how much we can borrow, is it worth it?
 

exchange rate defo not helping! our motivation is the same as most the lifestyle, but also the draw of having a nicer home cant be ignored, i would happily settle for a home on par with what we have, which is only worth £150k, but with $245k all i have seen is homes that look more like large sheds? as i say its not all about the house but neither would i want to live in something in canada i wouldnt live in, in the UK, if that makes sense?,

Re: checked how much we can borrow, is it worth it?
 

thats more like it, thats a lovely home, maybe its not the move we should question, and more where in canada? i believe calgary is now more expensive than toronto?

Re: checked how much we can borrow, is it worth it?
 

Makes sense, but thats got to be your call.
Why calgary? Mountains I expect.


If you can live without downhill skiing there are many parts of Canada where $240k will get you a nice enough place. Thats about 70-100k more than my house is worth.

Re: checked how much we can borrow, is it worth it?
 

Lots of town houses in Calgary in the $250,000 range most in the unattractive Northeast quadrant, although there are a lesser amount spread around the city.

Not a lot of detached homes in that range and those that are you most likely wouldn't want.

Re: checked how much we can borrow, is it worth it?
 

or an enitre village:lol: $245 would get you my enitre village:thumbsup:

Re: checked how much we can borrow, is it worth it?
 

Rural NS presumably? In the metro St John's area $245kish generally buys a reasonable detached house or bungalow. Nothing spectacular though just something in this ilk: http://www.realtor.ca/propertyDetail...ertyId=7945660

Re: checked how much we can borrow, is it worth it?
 

Is there any exciting jobs there though.

In England you can get a lot for your money in rural parts, but there is just not much going on there. I think this could be a dangerous option.

Re: checked how much we can borrow, is it worth it?
 

That depends on what you want to do.

Re: checked how much we can borrow, is it worth it?
 

sell timeshare in the Carribbean

Re: checked how much we can borrow, is it worth it?
 

Are you also selling your home in Edinburgh? the proceeds from that, plus your mortgage allowance here may give you a bit more choice??

Re: checked how much we can borrow, is it worth it?
 

In the mid-90s, maybe, but I haven't seen much evidence of it in the last few years; some of my relatives live in a town in the south-west that relies on agriculture and insurance for most of its income and even a three-bed terraced house would be at least 10x the average salary.

You get much more for your money in rural areas around here, but, as you say, that's because there aren't many jobs that pay enough that anyone can afford to spend more money. On the plus side, if you can work over the Internet you can buy a house cheap and get a decent income.