c/canadian-housing-chat

Just saw a 400 sq ft condo listed for $750k in downtown Vancouver

Walked past a real estate office window yesterday. The price tag made me stop. It was a studio, basically one room. The agent inside just shrugged when I made a face. How is anyone supposed to start? I'm genuinely asking, what jobs do you need to afford that mortgage?

Why does nobody talk about the city permit process for a basement suite?

Everyone says just do it, but getting the permit for my Edmonton basement took 14 months. Had to change the window sizes three times. Inspector wanted a different fire separation plan than the plans showed. Cost me an extra $8k in delays. Has anyone else had the city move the goalposts like this?

Warning: people keep thinking a 5% down payment is the same as it was ten years ago

I keep hearing folks say they're saving for a 5% down payment like that's the only hurdle, but the stress test and mortgage insurance on that small amount changes everything. A friend in Hamilton just got approved but his monthly payment on a $500k place is nearly double what his parents paid on a similar mortgage in 2010. How do you even plan for that when prices keep moving? Anyone else run the real numbers lately and get a shock?

My kitchen floor in Vancouver had a weird dip, so I tried a different underlayment

I was installing vinyl plank in a 1970s kitchen last month and the subfloor had a low spot about the size of a dinner plate. Instead of using the standard foam underlay, I grabbed a bag of self-leveling compound from the job site (Ardex Feather Finish, to be exact) and filled just that one spot. It dried in an hour, and the floor went down perfectly flat with no hollow sounds. Has anyone else patched a subfloor like this instead of trying to shim the whole thing?

My dad found his old offer letter for a house in Scarborough from 1989

He paid $112,000 for a three bedroom semi, and the realtor's note just said 'welcome home'. I was looking at listings for the same area today and the cheapest thing is over a million. How do you even start to explain that gap to someone who wasn't there?

Appreciation post: The open house where a guy tried to buy my shoes

At a viewing in Vancouver last month, a man offered me $200 for my boots right in the living room... said they'd 'complete the vibe' of the place. Has anyone else had a totally wild interaction at a showing?

Rant: I watched a house in my old Ottawa neighborhood sell for double in under five years

I grew up in a normal street in Nepean. A house three doors down from my parents sold in 2019 for $480,000. It was a solid three-bedroom, nothing fancy. The family that bought it did some work, like a new kitchen and bathroom, but nothing huge. I drove by last month and saw the sold sign. My mom told me it went for $925,000. That's in less than five years. The work they did might have added $50k in value, max. The rest is just the market going nuts. It hit me that the people who bought it in 2019 basically won a lottery just by being able to get in then. Now, a young couple starting out has no shot at that street. What's a fair price for a starter home anymore if a basic house can do that?

Finally got my offer accepted after 8 tries in Hamilton

I used to think I needed a 20% down payment, but my broker showed me a program for first-timers that only needed 5%. Has anyone else had luck with a smaller down payment recently?

Put in a lowball offer on a place in Hamilton and they actually countered

We saw a semi detached listed at 699k that had been sitting for 45 days, so we offered 650k just to see. The seller came back at 675k, which is way more movement than I thought we'd get. It taught me that places sitting for a while might have more flexible sellers than the listing shows. Anyone else had a seller actually negotiate down lately?

Back in 2021, I sold my condo in Hamilton for less than the highest offer.

The top bid was from an investor, but I chose a young family instead, even though it meant leaving about $15,000 on the table. Everyone in my circle called me foolish for not taking the maximum profit from the sale. Has anyone else made a housing choice that went against pure financial gain, and how did you feel about it later?

My buddy in Vancouver said his landlord tried to raise rent 40% last month, claiming 'market rates'. Is that just the new normal or totally out of line?

A thing I keep seeing people mess up about property tax in Ontario

I was looking at a listing in Hamilton last week and the agent had the property taxes listed at a flat $3,200 a year. A friend almost made an offer based on that number. I told him to check the tax roll on the city website, and sure enough, the current owner was getting a senior's tax deferral. The actual tax bill was over $4,800. People just take the number on the listing as fact, but it's often wrong because of grants, rebates, or old assessments. The seller's situation doesn't transfer to you. I learned this the hard way six months ago when I bought my place and got a nasty surprise. Now I always pull the tax roll myself before I even think about an offer. Has anyone else been caught by a tax bill that was way higher than the listing said?

My offer on a condo in Vancouver got beat by a cash buyer with no conditions

I put in a bid on a one bedroom place near Commercial Drive last Tuesday, going 25k over asking. My agent called me the next day to say we lost to someone who paid cash and waived the home inspection. This was the third time this has happened to me in six months. How are people even competing with that? Has anyone found a way to make a financed offer stand out?

PSA: The house across from my parents in Hamilton sold for $550k in 2019 and just went for $920k. The only change was a new coat of paint.

My view on buying a condo in Vancouver completely flipped after my 2022 offer got outbid by $200k.

I used to think getting any property was a win, but now I only look at places with a separate rental suite because that extra income is the only way I can see making the mortgage work, so has anyone else switched their entire buying strategy like this?

Showerthought: I tried a home energy check in Edmonton and my bill went up

I paid for a full home energy check last month, thinking it would show me how to save money on heating. The guy found a few small drafts, but his main advice was to add more attic insulation, which would cost over $3,000. My next bill was actually higher, maybe because of the extra tests they ran. Has anyone else done one of these checks and did it actually help?

I thought my buddy in Halifax was nuts for buying a 1970s bungalow with knob and tube wiring, but his reno budget came in under $40k and now it's worth triple.

My property tax bill hit $8,000 this year and it's got me thinking

I live in a pretty standard 3-bedroom bungalow in Hamilton, Ontario. I've owned it for 15 years. When I opened the mail last week, the annual property tax bill was just over eight grand. I knew it went up a bit each year, but this was the first time it really hit me. On one hand, I get it. That money pays for schools, roads, and services we all use. My house's value has also gone way up, so the tax is based on that. On the other hand, it's a huge fixed cost that just keeps climbing, and it doesn't feel tied to my actual income or ability to pay. It makes me wonder if this system is fair for long-time owners, especially retirees on fixed incomes. What's the better way to fund cities without pricing people out of their own homes? I'm curious where other people in Ontario stand on this.

Talked to my brother about his new condo in Calgary

He said he bought it because he thinks renting is just throwing money away, but he's paying $450 a month in condo fees on top of his mortgage. I always thought buying was the only smart move, but now I'm not so sure. Does anyone else feel like the 'renting is a waste' line gets repeated without looking at the full costs?

Back in 2018, I had to pick between a condo in Hamilton or a townhouse in Burlington.

The condo was newer and cheaper at $425k, but the townhouse had a small yard for our dog. We went with the townhouse, even though it stretched our budget. Looking at prices now, that extra $75k we spent feels like a bargain compared to today's market. Anyone else make a tough call like that a few years back and feel weirdly lucky about it now?

Drove through my old neighborhood in Hamilton and barely recognized it

I was near Barton Street last week and saw a row of old houses I used to know. They were all torn down, and a sign said a developer is putting up a 12-unit condo building there. I remember when you could buy a fixer-upper on that block for maybe $250k about ten years ago. Now the sign listed starting prices at over $800k for a one-bedroom. It just feels like a totally different city now, and not in a good way. Has anyone else seen their old spots get completely changed like that?

Showerthought: People in my building keep ignoring the new strata insurance deductible.

Our policy changed to a $50,000 deductible per claim, so a burst pipe could cost each unit over $5,000. Has your building seen a similar jump?

My neighbour in Halifax said my draft sealing looked sloppy from his deck

He pointed out a gap I missed above my patio door, which explained the cold spot in my kitchen. I bought a $15 tube of exterior sealant and redid the whole frame, making sure to smooth the bead properly. Has anyone found a specific brand that holds up better against our east coast winters?

TIL buying a condo in Vancouver was a better move than renting for me

Everyone kept telling me renting was smarter, but I bought a 600 square foot place in Kitsilano last year. My mortgage payment is $2,800 a month, which is only $200 more than my old rent for a similar unit. In 12 months, my place has gone up in value by about $40,000, and I'm building equity instead of just paying a landlord. Has anyone else found that buying, even now, worked out better than they expected?

Why does nobody talk about the 8 month wait to get a simple zoning variance in Calgary?