Real Estate

Ppl that bought in 2017 do you regret buying ?

  • Last Updated:
  • Jan 19th, 2018 4:52 pm
Deal Addict
Dec 23, 2010
1227 posts
591 upvotes
Moon
I don't get the point you guys are trying to make here. My point is that it isn't worth trying to circumvent the LTB rules because there is no payoff in doing so and the risk of getting caught and fined to oblivion is too high. Eviction risk for tenants isn't as high as you people are trying to peddle.
Deal Addict
Feb 22, 2011
4472 posts
4170 upvotes
Toronto
Applesmack wrote:
Dec 6th, 2017 12:06 pm
I don't get the point you guys are trying to make here. My point is that it isn't worth trying to circumvent the LTB rules because there is no payoff in doing so and the risk of getting caught and fined to oblivion is too high. Eviction risk for tenants isn't as high as you people are trying to peddle.
I was talking more in context of the thread for people who bought. They may still value the security of not having to be evicted. Even if you are fairly sure the owner won't sell and evict you, there is never certainty. Buying a house has many factors.
Deal Addict
Dec 23, 2010
1227 posts
591 upvotes
Moon
rjg4235 wrote:
Dec 6th, 2017 12:15 pm
I was talking more in context of the thread for people who bought. They may still value the security of not having to be evicted. Even if you are fairly sure the owner won't sell and evict you, there is never certainty. Buying a house has many factors.
Almost all tenants would be evicted for same reason a home owner would lose their house: Not paying their bills.
Deal Expert
User avatar
Apr 21, 2004
45525 posts
11957 upvotes
Applesmack wrote:
Dec 6th, 2017 12:06 pm
I don't get the point you guys are trying to make here. My point is that it isn't worth trying to circumvent the LTB rules because there is no payoff in doing so and the risk of getting caught and fined to oblivion is too high. Eviction risk for tenants isn't as high as you people are trying to peddle.
It isn't high for those paying market rate for sure because the advantages clearly are not there.

But you know the answer is different for way below market rental rates.

If I am paying sky high market rates, I think getting evicted doesn't really affect me much anyway because the next rental until is going to be similarly priced based on location/convenience.
Deal Addict
Feb 22, 2011
4472 posts
4170 upvotes
Toronto
Applesmack wrote:
Dec 6th, 2017 12:18 pm
Almost all tenants would be evicted for same reason a home owner would lose their house: Not paying their bills.
Not really. No one is kicking me out of my house because they sold it. A lot of people sell their investment properties, it's not an uncommon thing. I am actually selling one of mine in 3 months because I'm tired of dealing with it.
Deal Addict
Dec 23, 2010
1227 posts
591 upvotes
Moon
rjg4235 wrote:
Dec 6th, 2017 12:24 pm
Not really. No one is kicking me out of my house because they sold it. A lot of people sell their investment properties, it's not an uncommon thing.
When you sell your house you are leaving the house yourself. Tenant has plenty of warning when the owner is selling the unit. That risk can also be eliminated for the most part if you live in a building rather than rent from a small landlord.
Deal Fanatic
May 31, 2007
5000 posts
2109 upvotes
ilim wrote:
Dec 6th, 2017 11:14 am
I was tempted by hype to buy in Vaughan, I am glad I did not as well, even though may be it will be good investment as well.
But I bought more than one property in 2017 and all in downtown. I got one for around 700 per SQFT and others around 800 per SQFT they all now at least 25% above current market price.
Also I rented out 2 properties in one week and happy with tenants and whole process of being landlord.
So overall I am happy with my 2017 purchases in RE.
How did you buy two condos 25% under market value this year?
Deal Addict
Feb 22, 2011
4472 posts
4170 upvotes
Toronto
Jungle wrote:
Dec 6th, 2017 12:37 pm
How did you buy two condos 25% under market value this year?
He could have bought them 11 months ago, 2017 is almost over and 1 bedroom condos are up 23% over the last 12 months per Zolo. Seems like it would be hard not to be up if you bought in January. I'll add that in Toronto itself condos are over 50% of sales so most people are up a LOT of money this year.
Deal Fanatic
May 31, 2007
5000 posts
2109 upvotes
rjg4235 wrote:
Dec 6th, 2017 12:40 pm
He could have bought them 11 months ago, 2017 is almost over and 1 bedroom condos are up 23% over the last 12 months per Zolo. Seems like it would be hard not to be up if you bought in January. I'll add that in Toronto itself condos are over 50% of sales so most people are up a LOT of money this year.
That would makes sense. But from reading his previous posts it sounded like he bought mid year, and or bought assignment.
Deal Addict
Jan 17, 2006
1219 posts
963 upvotes
Toronto
Jungle wrote:
Dec 6th, 2017 12:37 pm
How did you buy two condos 25% under market value this year?
One is pre-con at the beginning of year, others on assignment.
Sr. Member
Oct 21, 2014
920 posts
727 upvotes
Burlington, ON
Not even a bit. I could have gotten my detach a bit cheaper if I had known about the downturn, but really not that much. You can't live life waiting for a better deal, sometimes you have to take the plunge.
Sr. Member
Oct 9, 2011
583 posts
304 upvotes
EAST YORK
Not really. I bought a small 1+den condo and I'm happy with it. I have no intentions of selling or flipping for the next few years - it's a home for my wife and I. Only RE news I pay attention to is rate hikes. I'm gonna ride out whatever craziness the market is going through right now
Deal Guru
Aug 2, 2010
12569 posts
3084 upvotes
Here 'n There
I think the time to ask this question is 10 years later.

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