Real Estate

Ppl that bought in 2017 do you regret buying ?

  • Last Updated:
  • Dec 15th, 2017 11:05 am
Deal Addict
Feb 9, 2009
4660 posts
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eonibm wrote:
Dec 6th, 2017 2:21 pm
I think the time to ask this question is 10 years later.
Agreed if your crying about short term volatility you should just rent forever so you don’t need to worry (though your rent in 20-30 years will be much higher than any losses someone incurred today unless real estate goes to zero and that property will be higher then).

Like someone said if you found a nice house you like buy — who the hell knows what happens tomorrow
Deal Addict
May 31, 2007
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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.
Reading this again just because thy might be 50% of sales (remember detach are down) doesn't mean every buyer made money.

Those who bought in April are likely down over 30k according to average and closing cost. After that probably tread water or flat

I found many condos on mongohouse that had troubl even selling and had shown price reductions, so not as rosy it seems as everyone is fed to believe
Sr. Member
Aug 19, 2016
867 posts
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Jungle wrote:
Dec 6th, 2017 2:44 pm
Reading this again just because thy might be 50% of sales (remember detach are down) doesn't mean every buyer made money.

Those who bought in April are likely down over 30k according to average and closing cost. After that probably tread water or flat

I found many condos on mongohouse that had troubl even selling and had shown price reductions, so not as rosy it seems as everyone is fed to believe
It's the condo fees that is dragging it down. It is higher than before.
Newbie
Nov 14, 2017
48 posts
17 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.
That's weird to say. Vaughan condos have only gone up.

I'm about to flip a preconstruction I bought right at the end of 2016 that has gone up 18%. My own personal condo has gone up over 25%. Both in Vaughan.
Deal Addict
May 31, 2007
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Suburbs saw a huge surge in condo price like 50% pulling up the average. Did the downtown core experience a real 25% surge in price this year?
Deal Addict
May 31, 2007
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CollegeGraduate wrote:
Dec 6th, 2017 2:48 pm
It's the condo fees that is dragging it down. It is higher than before.
That can be moot because ev in house there is somewhat maintenance fee but you can control

What I'm implying is more land transfer tax, realtor and lawyer fees to butt and sell
Newbie
Oct 25, 2010
6 posts
5 upvotes
Gungnir wrote:
Dec 6th, 2017 1:37 pm
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.
Agree 100%. Sold my semi and bought a detached earlier this year which helps to even things out a little bit. Since the home we bought is very likely our forever home, I don't view it as an investment for the short term. Maybe 10-15 years down the line, I might look back and realize I could have paid a little less, but so far no regrets!
Sr. Member
Jan 17, 2006
617 posts
339 upvotes
Toronto
LinkPersona wrote:
Dec 6th, 2017 2:51 pm
That's weird to say. Vaughan condos have only gone up.

I'm about to flip a preconstruction I bought right at the end of 2016 that has gone up 18%. My own personal condo has gone up over 25%. Both in Vaughan.
I was more talking about time when transit city by subway started to sell, I think at that time price was too high for that area.
And overall I don't think suburb condos will appreciate as much as downtown, but don't quote me on it, just my opinion.
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Feb 9, 2009
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the_norm wrote:
Dec 6th, 2017 3:12 pm
Agree 100%. Sold my semi and bought a detached earlier this year which helps to even things out a little bit. Since the home we bought is very likely our forever home, I don't view it as an investment for the short term. Maybe 10-15 years down the line, I might look back and realize I could have paid a little less, but so far no regrets!
Do you think people in 1989 regret buying today? Lol
Newbie
Nov 5, 2005
77 posts
9 upvotes
Sanyo wrote:
Dec 6th, 2017 5:10 pm
Do you think people in 1989 regret buying today? Lol
The question to ask later is if you regret not buying in 2017. Lol
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Sep 8, 2007
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Way Out of GTA
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. I am actually selling one of mine in 3 months because I'm tired of dealing with it.
Why selling? Was there a particular factor causing you to sell? Tired of the landlord laws or just being a landlord in general?
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Sanyo wrote:
Dec 6th, 2017 5:10 pm
Do you think people in 1989 regret buying today? Lol
Milton has mad balllerz 100% no regrets.
Member
Sep 9, 2014
211 posts
162 upvotes
Vancouver
I sold and bought in 2017, in Vancouver, so I guess my situation is slightly different from what OP was asking.

With that said: no regret. Made a big profit on the condo (had it for 3 years) and bought my forever home (a superb half duplex in Vancouver proper, close to a Skytrain). My wife and I love our home. It wasn't cheap for sure but looking at comparable, the market hasn't gone down since. And I can't possibly imagine it not going up in 15-20 years.

I did a lot of calculations of buy/rent and as long as I get 3% annualized return, buying was better anyway. And that's without accounting for the added benefits of owning.
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Feb 9, 2009
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cartfan123 wrote:
Dec 6th, 2017 5:53 pm
Milton has mad balllerz 100% no regrets.
It’s sad what a hater you are
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Mar 31, 2008
9644 posts
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Toronto
I bought a 2nd properly in Feb 2017, after losing out on a bid a year ago September. Came close several times in buying, talking to agents, getting finance approval, but never pulling the trigger over the years. So far don't regret it. Didn't buy with the purpose of capital gains, but a return of Capital (equitizing Debt) over the long-term. And is a place we could see ourselves moving into in later years, while we can let our children take over our current house. So far, am cash flow positive slightly. It's place out in the GTA with my name on the mortgage only since our matrimonial home is only under my wife. Figured

Definitely regret not buying sooner when semis in Danforth East area could still be had for about 400K (always came close, but having kids then, thought to play it safer and always deferred). The reason I pulled the trigger than was it was a specific property that I saw as easy to rent out given it's characteristics, location, and also something we would like too. If I didn't see that property, I probably wouldn't have pulled the trigger then or another time. Might have pulled it now though depending on what was available (in this specific area, prices would have been similar as comparables have gone similar).

So far, prices are probably flat but would be negative likely after realtor costs. Was about a 400K purchase.

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