Should we buy cash or rent first
#16
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#17
Joined: Sep 2008
Posts: 12,830
Re: Should we buy cash or rent first
Renting is a month to month commitment you can walk away from. Buying and making a mistake can cost 10's of thousands and whole load of heartache.
When I came, despite being able to buy a house outright and having a well paying job, I rented for a while to be sure I found an area I liked.
Renting allows the flexibility of wherever you find a job you can then buy a house nearby if that suits.
When I came, despite being able to buy a house outright and having a well paying job, I rented for a while to be sure I found an area I liked.
Renting allows the flexibility of wherever you find a job you can then buy a house nearby if that suits.
#18
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Re: Should we buy cash or rent first
I'm going to buck the trend on this one. Having read many posts on here i would advise buying the largest house you can afford at the top of your $450k budget. If you dream hard enough, pound the streets every day networking, and have a cup half full attitude, it'll all work out. Where there's a will there's a way.
Good luck
Good luck
http://www2.macleans.ca/2012/02/28/y...to-get-burned/
#20
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#21
Re: Should we buy cash or rent first
When we 1st arrived, there was zero rental availability, so we had to buy if we wanted somewhere to live, due to zero rental, houses were being sold before they even hit the mls listings, it was pretty brutal. We bought a house, houses are fairly different in style (In Alberta anyway) campared to the UK,, we bought the biggest we could afford. It was too big and in a too new area, 8 months later we moved again. In one way this was good as we made money as we downsized, in other ways it just added to the stress.
We had to experience a new area just see how much we didn't like it, even though we liked the look of the houses and the little moving in reno's we had to do compared to the reno's and redecorating a older house may require.
If we could turn back the clock we would have been happier renting, to begin with if that possibility was available. I also would recommend spending ALL or nearly all your money on a house in one go either.
We had to experience a new area just see how much we didn't like it, even though we liked the look of the houses and the little moving in reno's we had to do compared to the reno's and redecorating a older house may require.
If we could turn back the clock we would have been happier renting, to begin with if that possibility was available. I also would recommend spending ALL or nearly all your money on a house in one go either.
#23
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#24
Re: Should we buy cash or rent first
Im not sure a thread offering advice to a new poster unfamiliar with the old hands M.O.s is the best place for irony...
#26
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#27
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Re: Should we buy cash or rent first
i would definatley rent we are a family of 6 and even without a mortgage 2000 a month is not a lot to live on with utilities food and insurance and running a car i dont see how you would be able to spend that little dont stress yourselves settle in rent for a while until you have jobs and good luck
#28
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Re: Should we buy cash or rent first
.....but you never really know whether you will like a place until you are living there. On visits I loved North Van and felt sure I wanted to live there. When we were there I hated it! It's an expensive mistake to buy and then realise you hate it - rent for a while
#29
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Joined: Feb 2012
Posts: 136
Re: Should we buy cash or rent first
rent if you buy and dont like the area or if things dont work out you will lose 4-6% in real estate fees
#30
Re: Should we buy cash or rent first
Rent first. If you buy and don't like the area then agent fees and land transfer tax will nail you if you sell to buy somewhere else, especially in Toronto.