Housing in Canada?
 

I can't make sense of ever buying a house in this country they are way over priced. I live in Calgary, but I lived in Milton, Ontario and Toronto. The housing prices are high all over the country. Even here in Calgary a nice house will cost you $500k with a large down payment people think thats cheap (it is in comparison to the rest of the countries cities) but taking into account property tax and insurance repairs it would cost over $1500 a month more than renting for me. Also prices are going down not up here so its a bad idea and housing prices have never been that much more that $500k house during the boom was maybe worth $600k.

It doesn't fill me with much hope of ever getting a house as this countries housing situation is as bad as the UK.

My company is offering an intra-company transfer to work in Phoenix USA and houses are reasonable down there $250k american will get a nice new house there. But healthcare and labor rules are terrible in USA and I don't want to move there also colleagues down there always complaining about the unbearable summer heat and you are literally stuck indoors for 5 months not only that all the immigration stuff again I don't want to do it.

I feel stuck in Canada I make way more money than I do back in the UK here and my job is not stressful atall like it was back in the UK however it doesn't feel like a forever place as ill never buy a house. My main reason for wanting a house is security as we've been evicted because the landlord wanted to live back in the place before and we can customize it ourself and take care of it. I would love to go back to the UK in my gut feeling however I know practically the sh*t money there and the living so close to people after having space like Canada I would probably be depressed for years to come.

Anyone else in the same boat?

Re: Housing in Canada?
 

All over BC, Alberta and Ontario maybe. Not so much in the other parts, but obviously not much good if you are tied to an employer not in those other parts.

Re: Housing in Canada?
 

We know we will never own a house, might be a possibility in Atlantic Canada but really nowhere else and especially not in BC, but then income for us would drop substantially in Atlantic Canada and I still don't think we would be able to own. There isn't even a place on the so called property ladder for us, so it's something we have given up on.

I hear you on stability, renting is certainly not a way to get stable long term housing and leads to a lot of stress and worry.

Parts of Phoenix can be nice, although Arizona isn't known for great labor laws (some states like California are close to what you might find in Canada, some aspects of California labor law is better vs BC especially for breaks....) and it does get hot there, but flip side people in Canada complain about the cold and can spend 5 months inside because its too cold...lol

Re: Housing in Canada?
 

Most people start with a starter home and then move up. Maybe you should consider doing that.

Re: Housing in Canada?
 

I don't know how long you have been in Canada, but Toronto and Milton are 2 very expensive areas.. had you bought in Hamilton even 5-6 years ago you could have purchased a 3 bedroom house for under $240,000, sadly prices have increased in the last 4 years or so (although it's still possible to find small places under $250k they are few and far between - and not the most desireable). such as this and https://www.realtor.ca/real-estate/2...nue-n-hamiltonthis or this (plenty of condo's that are cheaper though)

You definitely need to start small and build up. I have a friend who bought a cheap house 16 years ago - she did it up on a very limited budget (self employed), sold it, bought another .. sold that, bought another... and is currently living in a very nice property out in the country.. but she has had to work hard to flip each one after about 4 years of ownership. It is possible, but it's not easy. If you have the down payment and can get a mortgage that's half the battle!.

Re: Housing in Canada?
 

Some perfectly nice detached houses in the east of London, ON for 3 - 350k despite recent high house inflation.

Re: Housing in Canada?
 

Re: Housing in Canada?
 

I agree - taking a look on realtor.ca and there seem to be decent looking places at $300k.

But even at the $500k - that price is comparable with many places in the UK for a decent house (and a lot cheaper than the premium areas) and you say you earn much more money here - so how would your housing situation be improved by moving back to the UK?

Re: Housing in Canada?
 

So what's wrong with these as a starter home in Calgary - under $300k? When you are starting out you buy a cheaper house, do it up and then move on up the chain over time!
3 bed 2 bath- has been upgraded, unfinished basement - $270k Erin Woods - https://www.realtor.ca/real-estate/2...ary-erin-woods
3 bed 2 bath with finished basement - corner lot in need of work $254k - https://www.realtor.ca/real-estate/2...gary-whitehorn

Re: Housing in Canada?
 

The house at the first link is nice.

Compared to Vancouver downright cheap too.

Re: Housing in Canada?
 

It's actually not the cost of housing, but rather the cost of land. Most cities in Canada has strict city growth policies to protect green field land and agricultural land. In Vancouver and BC this is called the ALR, but I think most cities have similar greenbelt-type initiatives. This pushes up the cost of land that is allowed to be built on, which is the majority of the price when buying a house. The example you gave of Phoenix being cheap is because it's mostly desert and not farmable land, so the land value is incredible low. Most of the house cost there is just the building itself.

It's frustrating if you're looking to buy, but at the same time, it protects land for food production, and I'd argue having food security is probably more important than cheap houses. We do need to support programs that provide affordable housing for those in need though.

Re: Housing in Canada?
 

Yes also if you look at local incomes vs price of housing its always very high. For example Halifax is a very affordable place to live or so you would think. But take into account the high tax rates and low incomes it that $250k house suddenly is just unaffordable. Also to live any quality of life in Canada you need to be in or at least within 2 hours of a major city as Canada is so huge living far and beyond sounds all great until you need to buy something.

Re: Housing in Canada?
 

Funnily enough we looked at California as my company has an operating arm there too. But its ridiculous cost of living even compared to an expensive place like Vancouver in Canada. We were looking at houses between LA and San Diego and its a joke. We actually rented a 1 bedroom condo for 1 month in Oceanside cost $2500 per month whilst I worked there. Groceries are insanely over priced in California, Gas was like $4USD a gallon! lol if you can believe we thought theres no way we can do this. Plus when I was commuting from there to San Diego it was absolute hell. California is packed and the people there are the most self entitled snobbish people on the planet. Mind you this is Southern California where I would have to be based but the bit between LA and San Francisco is really nice and not so density populated. Also north of San Francisco is really nice too shame my company has no offices up there mainly due to high real estate costs.

It really sucks I mean I love Canada lots of people complain about winter but if you ski or board or have an activity you look forward to winter. Winter in Calgary is beautiful its like the winter wonderland I dreamed of as a kid. Sunny with snow blanketing the ground. Skiing is awesome as its so cold on the rockies the snow is never icy as its too cold and too dry. I wear battery heated gloves and socks though. But so many clear days in the rockies skiing is amazing. I don't know how I ever survived in Ontario just hibernating for an entire season I know I was depressed.

Hopefully housing prices just fall through and we can get a house cheaply and then have some stability.

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Problem my inlaws would be giving us $200k and want us to get a house with a finished walk out basement which is like a separate suite so they can live 6 months of the year over here.

Re: Housing in Canada?
 

Yeah California has gotten crazy expensive along the coast. San Diego where I am originally from wasn't always like that it's in the last 15 or so years that prices went insane. They did lose a great deal of value in the 2007 to 2011 frame when the housing market collapsed and houses went from 600k to 300k but most areas have regained and increased since then.

My step sister has to live with my dad and step mom as even though she works full time she doesn't make enough to afford an apartment.

Wages there have increased but not enough so unless in a highly paid job it's a hard life as it is in parts of Canada.

Yes suppose if one enjoys and can afford winter sports there is that in the winter. I don't sdon't such could not afford it if I wanted so winter just means short cold wet days and lots of indoor time...lol

I just get annoyed it takes 85 hours to earn enough just for rent, but once taxes and other deductions are taken reality is it takes more than 85 hours.

Over 2 weeks of work just for rent lol

Re: Housing in Canada?
 

20ft x 100ft garage for sale in Toronto for $600,000. Obviously the price is for the land but it doesn’t look much wider.

Re: Housing in Canada?
 

Wait, you have $200k cash to put down? That's pretty good as long as you have a relatively decent income. You could put $50-$100k of that down as a downpayment on a property without a suite/unfinished basement, then hire a contractor and use the rest of the money to renovate it and finish the basement.

We're actually planning on doing something along those lines in the next year or so - buying an older home with a front double garage and converting the garage into a livable suite with a bedroom, bathroom and living area for my mother-in-law.

Re: Housing in Canada?
 

"Live”...I hope they don’t mention that to the Imm. officer when they enter Canada. :lol:

Also hope they make sure they have medical insurance and can afford to pay for any meds. I spent 5 days in hospital as a visitor...no surgery...approx $40K...which we had to pay before I left the hospital. :eek:

Re: Housing in Canada?
 

That's just not true (and ignores the 100+ properties for $80k to $250K around Halifax).
There are websites that show how much income is needed to buy properties. Those marginally higher taxes don't make up the gain.

Your $200k would buy perfectly good houses with no mortgage or only a small mortgage. Taxes are not going to take up 100% of your income.
Nonsense. Far and beyond? What does that mean, no life east of Toronto? :lol:

Re: Housing in Canada?
 

I am very aware of what an in-law suite is - and a walk out basement. :p - but you say "over here" - are they in a position to be able to live in Canada for 6 months of the year? It's not a given that they would be allowed to stay that long unless they have a supervisa or similar.

Why not save up some money so that you are not relying on your in-laws to provide the funds.. then you can choose what type of house YOU want to live in, rather than accommodating someone elses requirements.

Or else buy a cheaper house and convert the basement to a walk-out using some of the money they are prepared to give you. It's not impossible and it doesn't have to be that expensive if you choose a house with an unfinished basement and do the work yourself - or even if the back garden is large enough, look to build an in-law suite (there may be grants available for those) https://loanscanada.ca/money/financi...aging-parents/
https://showmethegreen.ca/home/home-...novation-tips/

https://www.calgary.ca/PDA/pd/Pages/...direct=/suites :)

Re: Housing in Canada?
 

You say the situation is just as bad as the UK, but which parts of the UK are you comparing to and you mention that you lived in Calgary,Toronto etc. All of the places you mention (including Phoenix, San Diego, LA, San Francisco) are huge cities with a shortage of affordable housing. You say your job in the UK was stressful, but I'm sure there are people in Canada who have a stressful job/vice versa. You say the sh*t money will probably make you depressed, but if you end up with more money at the end of the month and actually have a house, I don't see a problem there. You also mention the space in Canada and less people, but is that really the case close to a city with over 1 million people compared to a smaller village? At the end of the day it's all about priorities and no matter where you are, you will have to make compromises. It's the same for us in Ireland and some people choose to live in crowded Dublin for a so called better wage. We decided to go West instead and have to live with the fact that we are earning less than people in Dublin, don't have a Starbucks on our front door and so on. But even with a lower wage, I'd rather have a house here and a small holiday home in Spain, than having to pay a huge mortgage in Dublin for a tiny apartment. Of course only drinking 1 pint a week instead of 10 helps too:-)

Just saying that be it UK, Canada or any other country you have the same challenges.

Re: Housing in Canada?
 

:thumbup:
It's amazing what can be done with the spare money available to offset the "deprivation" of not living in a city that never sleeps. ;)

Re: Housing in Canada?
 

Well if they keep doing that they may well be stopped from coming into Canada- they should apply for a parents visa and have the proper insurance.

Re: Housing in Canada?
 

They would only stay a maximum of 6 months probably not even that long in reality it would be like 2 month stints maybe twice or three times a year as they have a house and other commitments in the UK. So theres really no need. But interesting that super visa if they did ever downsize in the UK and look at spending more than 6 months over here I would look at that for them. I hadn't even heard of it before you mentioned so thanks for that.

Re: Housing in Canada?