c/canadian-housing-chat

Finally got through the city permit process after 14 months of back and forth

Drove through Oshawa last week and noticed something weird about all the new townhouse builds

I was delivering a package out near Harmony Road and saw maybe 20 new townhouses going up. Every single one had vinyl siding and cheap aluminum windows. For what they're asking, like $700,000 starting, you'd think they'd use brick or at least Hardie board. My buddy in trades told me builders are slapping these up in 90 days flat because material costs are squeezing margins. But if I'm paying that kind of money, I want something that won't look beaten down after 5 winters. Has anyone else checked the build quality on these new developments before buying?

Dropped $600 on a dehumidifier for my basement suite and it paid for itself in a month

I live in a basement suite in Vancouver and last winter I started noticing that musty smell and a bit of mold creeping up near the baseboards. After three weeks of freaking out about lung health and my security deposit, I finally caved and bought a 50-pint dehumidifier from Home Depot for $600 plus tax. That thing sucked out like 5 liters of water every day for the first two weeks, no joke. The weird part is my electric bill barely went up maybe $15 a month, but I stopped waking up with that stuffed nose feeling. Plus my landlord actually gave me a break on rent because I fixed the humidity issue before it ruined the drywall. Has anyone else dropped cash on a humidity fix and actually seen results or did I just get lucky?

Locked out of my own condo after a late payment fee spiral

I missed a strata fee payment by 3 days last month in my Vancouver condo. They slapped a $50 late fee on top, then added interest every week after that. The worst part was when they put a lien on my unit without even calling me first. Anyone else deal with strata being super aggressive over small delays?

Three months to finish a basement bathroom that should have taken two weeks

I started framing a basement bathroom in my Calgary bungalow back in January thinking I'd have it wrapped up in 14 days max. What a joke lol. First I found out the drain pipe was sitting at the wrong angle so I had to cut into the slab and re-pour concrete around a new fitting. Then the city inspector flagged my venting setup and made me rerun the whole stack. After that I spent three weekends just drywalling around the plumbing because nothing was square. Then the vanity I ordered showed up with a huge chip in the corner and the return took forever. Finally got the toilet and sink hooked up last week and it felt like winning a gold medal lol. Anyone else have a small project that ballooned into months of headaches?

That cheap moisture meter I laughed at actually caught a leak

My buddy swore by his $30 pinless meter from Amazon and I thought it was junk until I borrowed it and found water behind a tile wall in a 2018 build. Has anyone else had a budget tool prove them totally wrong on a call?

Spent $600 on a home inspection that missed a major plumbing issue

I paid a guy $600 to inspect a house in Hamilton before buying, and he totally missed the cast iron drain pipe that was cracked under the basement slab. Cost me $3,200 to dig it up and replace it two months later. Anyone else have a home inspector miss something obvious?

Talked to a retired builder at the hardware store who changed how I look at basement floors

I was loading up on drylok at Home Depot in Mississauga last Saturday when this older guy in a work vest just walked up and asked if I was sealing a basement. I said yeah, prep for a reno. He told me most people paint over damp concrete and wonder why it peels in 6 months. He said you have to test with plastic sheeting taped down for 48 hours first to see if moisture is coming up through the slab. I never thought of that simple trick. Has anyone else heard that method?

Hot take: My realtor friend told me to offer $50k over asking on a Toronto condo and I laughed in her face

Three weeks later that same unit sold for $45k over asking and I'm still trying to figure out if I dodged a bullet or missed the boat, has anyone else had a realtor push a crazy offer that actually worked out?

Rented a condo in North Vancouver last year and this year the strata fee jumped $200 a month

I moved into a 2-bedroom in North Van in 2023 paying $350 a month in strata. Now it's $550 with no warning about a special assessment coming. Anyone else see their fees spike like this lately?

I compared a $350K townhouse in Kitchener vs a $400K detached in London and the math was obvious

Overheard a mortgage broker say variable rates are coming back in style

I was grabbing coffee last Tuesday and caught two guys at the next table talking about mortgages. One was a broker telling his buddy that after 5 years of fixed being the go-to, a bunch of big banks like RBC are starting to push variable again. He said something about the overnight rate stabilizing that made me rethink my own renewal coming up in June. Has anyone else looked into variable lately or is fixed still safer for your situation?

Bought a variable rate mortgage in Calgary last fall against everyone's advice and it's actually been fine so far

After my broker warned me rates could jump again I went with a variable rate for our townhouse in Calgary and it's dropped three times since December, has anyone else seen variable out perform fixed recently?

The day I realized my pre-approval was basically useless

I spent 6 months looking at places around Vancouver thinking I had a solid $650k budget. Then my broker casually mentioned that pre-approval amount was based on an interest rate from January, not the current 5.4% rate. I almost fell off my chair when he ran the numbers again and it dropped to $540k. He said most people don't ask about rate holds or how long the pre-approval locks in for. Now I always double check the fine print before I get excited about a price range. Has anyone else gotten burned by a pre-approval that shifted under them?

Got burned by that 'too good to be true' duplex in Scarborough

I went to look at this duplex near Kingston Road last month, listed way below market at like $650k. Seemed like a steal for the area. Got there and the basement had a huge crack in the foundation with actual mold growing out of it. The realtor just smiled and said 'oh that's just some minor water staining.' Minor? I could smell it from upstairs. I asked about permits for the basement suite and he got all weird and changed the subject. Took my inspector buddy out there and he said it would need at least $40k in structural work before the city even lets you touch it. Has anyone else dealt with sellers hiding really obvious foundation issues like that?

Neighbor called my reno a 'cheap flip job' - made me rethink my whole approach

Last spring I was finishing up a basement suite in my Vancouver duplex and an older guy from down the street walked by while I was painting. He said the place looked like a 'cheap flip job' because I used flat paint everywhere even in the bathroom. At first I was super annoyed but then I realized he was kinda right. I had been using the same can of flat white for the whole place to save money and time. After that I swapped to a semi-gloss in the kitchen and bathroom areas even though it cost me an extra $40 for two gallons. The paint holds up way better against steam and grease now and the flat in the living room actually looks clean instead of patchy. Has anyone else had a stranger give honest feedback that actually helped?

Overheard a guy at Home Depot say you can save $50 a month just by switching to a heat pump water heater

I was grabbing some drywall anchors and this older guy was talking to the plumbing guy about his power bill. Said his went from $130 to $80 after swapping his old tank for a heat pump model. I've been looking at mine since it's from 2008 and probably costing me way more than I think. Has anyone here actually done the switch and seen real savings on their hydro bill?

The condo fees in my building jumped $350 in one year - here's what happened

I bought into a 15-year-old building near downtown Toronto back in 2021 when fees were $550 a month. Now they're sitting at $900 and I'm honestly worried about what next year looks like. The big change came when our board finally did a proper reserve fund study last spring and found out we were $200k short on major repairs like the garage concrete and roof. They had to bump fees hard to catch up, and I wish I had asked harder questions about the reserve fund before I bought in. Has anyone else seen a similar spike after a reserve fund study came back bad?

I was dead set against variable rate mortgages until my broker broke it down for me last Tuesday

I talked to my mortgage broker Steve from TD in Mississauga for like an hour. He explained how variable rates have actually outperformed fixed rates in 7 of the last 10 years if you can stomach the risk. He showed me a chart from 2016 to 2022 where someone with a variable saved over $12,000 compared to fixed. Now I'm thinking maybe I was too rigid about this whole thing. Has anyone else here actually run the numbers on variable vs fixed?

Stopped trusting those 'average price per square foot' numbers after looking at houses in Mississauga

I was comparing two bungalows on the same street. One had a finished basement with a bathroom and the other was just a raw concrete hole. But the online listings were showing almost the same price per square foot. That number completely hides what you're actually getting for your money. My realtor finally told me last month that most sites just divide the list price by the total floor area including basements, which is basically useless. Has anyone else noticed how misleading those automated estimates are?

Lost $300 on a bad home inspection in Edmonton

I bought a townhouse in Edmonton last spring and paid $475 for a home inspection. The guy spent maybe 90 minutes walking around, said everything looked fine. Found out two months later the roof had a slow leak that ruined the attic insulation. Cost me $800 to fix. Anyone else get burned by a rushed inspection?

Tried buying a condo in Calgary with a 5% down payment versus waiting to save 20%.

The mortgage insurance cost me an extra $12,000 upfront, but getting in last year meant the price jumped 8% while I was saving. Has anyone else run the numbers on whether paying the CMHC fee was worth it to buy sooner?

My basement moisture fix in Calgary took 8 months, not the weekend I planned.

Everyone said to just seal the walls and get a dehumidifier. Did that. Still had damp spots. Found a tiny crack in the foundation footing. Contractor quoted $12,000 for an exterior dig. Tried a cheaper epoxy injection first. That failed after 3 weeks. Ended up doing a full interior drainage channel. Took forever. Anyone else in a cold climate deal with a hidden foundation leak?

Pro tip: I used to think a 20% down payment was the only way to buy a house in Vancouver

Five years ago, I saved up 80 grand for a down payment on a condo, thinking that was the smart move. Now, with prices up another 40%, that same amount barely covers the minimum on a smaller place. I had to switch gears and get a high-ratio mortgage with mortgage insurance, which adds a few hundred to my monthly payment. Has anyone else been forced to buy with less than 20% down just to get in the market?

Just realized I spent $1200 on a home inspection that missed major foundation cracks... should these reports come with some kind of guarantee?