Real Estate

Ottawa Real Estate market discussion

  • Last Updated:
  • Oct 20th, 2020 7:59 am
Sr. Member
Nov 6, 2007
601 posts
98 upvotes
ZhaoW9051 wrote: At least 15k are not essential:) you can do customerized blind,deck, fence gradually. Plus most new build do not allow fence built with in a year after closing.

The obvious thing is that you do not just realize these costs at the time of closing. You have almost a year to plan and shop these things at considerable discounts.
Fair point, every one have different standards and priorities.

For my self personally, you pay for it now or pay for it later.

Prices of lumber, materials and labor are going up not down. Huge demand and shortages.

Appliances and AC, I agree you can wait up on deals. But …..
Newbie
Sep 29, 2013
39 posts
25 upvotes
R8247 wrote: We calculated we needed at least 30k in cash at closing. This was pretty modest and mediocre too. Not a wish list but essentials to make it a livable house. Nothing super fancy and high end.

Appliances including washer and dryer $10k (really depends how high end you want to go)

Fencing and (modest) deck: $8k

AC (not builder): $4k

Blinds (custom not off the shelf Ikea): $3k

Lighting (to replace cheap builder fixtures): $2k

Misc: $3k

Misc

Good points from both. Minto is releasing in Quinns Pte tommorrow and the cheapest town is 532k. Ill probably stick to resale. Never rented a new build before. I dont think tenants care to live in a construction zone away from any amenities and schools.
Deal Guru
User avatar
Jun 28, 2003
10079 posts
3170 upvotes
Ottawa
AddictRC wrote: Good points from both. Minto is releasing in Quinns Pte tommorrow and the cheapest town is 532k. Ill probably stick to resale. Never rented a new build before. I dont think tenants care to live in a construction zone away from any amenities and schools.
Tough to cash flow with that price because you can only charge so much rent for a townhouse ($2,200-ish + utilities) in the suburbs. Now if you are buying to live then it's a different story.
[removed]
Newbie
Sep 29, 2013
39 posts
25 upvotes
canabiz wrote: Tough to cash flow with that price because you can only charge so much rent for a townhouse ($2,200-ish + utilities) in the suburbs. Now if you are buying to live then it's a different story.
Buying to rent. Ride the appreciation is the long term goal. I dont mind being a bit negative because the appreciation will out pace losing $200/mo.

Thats my theory but the price of new builds are starting to get too expensive. Minto towns have gone up 60k since June and may eventually reach 600k by 2022.

Negative cashflow can always be negated by leaving more of my own money in there.

Thats what I tell myself anyways. haha
Last edited by AddictRC on Sep 18th, 2020 11:28 pm, edited 1 time in total.
Newbie
Feb 10, 2020
18 posts
6 upvotes
Just wondering what people opinion are on the uniform wateridge urban semis development in rockcliffe area?
Newbie
Sep 29, 2013
39 posts
25 upvotes
splatqa wrote: Just wondering what people opinion are on the uniform wateridge urban semis development in rockcliffe area?
Curious. Whats the price? 1M+?
Remember you are on a forum with a bunch of cheapskates here.
Newbie
Feb 10, 2020
18 posts
6 upvotes
AddictRC wrote: Curious. Whats the price? 1M+?
Remember you are on a forum with a bunch of cheapskates here.
The urban semis start from 749 to 769. There are three models available
Newbie
Aug 25, 2011
69 posts
25 upvotes
OTTAWA
Monari wrote: On that note, Uniform was telling me that they almost always hit their deadline dates. Does anyone have any idea if this is accurate?

I purchased a Uniform home in Grandview Court and I can tell you I was pushed from October to December closing. That being said, this was also during Covid so I kinda understand. Compared to some of the Mahogany closing date pushes from Minto (September 2020 to May 2021) I've read.
Deal Addict
Jan 15, 2017
3429 posts
2774 upvotes
R8247 wrote: But some don't really have that choice or want to wait 1-2 years.

We personally thought about it. However, 2 of our close friends had night mare stories with the closing of their pre-con.

Closing delays, driveway wasn't paved for the first 6 month, no sod no usable back yard, shingles and vinyl blowing / falling off (like really on a brand new home?), all compounded by a host of other builder issues.

What really did it for them was they were essentially living in a construction (war) zone for a year + with 2 kids waiting for the rest of the lots to finish. Dust, nails, scraps and heavy equipment everywhere. Can't even walk down your own street with kids and stroller. So taking early delivery and being the one of the first occupants has its drawbacks as well.
That's a very common experience with new builds and yes, it can be very frustrating to live through and in.

Delays are common now during the pandemic and many buyers are reporting little notice of delays from their builder. Many are reporting that they cannot even get a firm commitment date of closing making planning virtually impossible.

Living in a construction zone is not a great experience. The dust, the dirt and the noise can really wear you down. I had one guy tell me that he moved into his new home without a finished garage floor. Driveways and sodding is quite common. If you want to be almost assured of sods, plan for a closing date around this time of the year.

We moved in at the end of phase 1 and the builder was working on Phase 2 at the time. A large truck drove by one day and the vibration caused the glass soap bottle in the washroom to fall and crack the pedestal sink. We had to install a new sink. These things happen. And forget about keeping your vehicle clean with all the dust and that clay in the rain - a nightmare.

Some communities take a long time to finish. A very long time. The worst are the builders that leave a lot empty until it sells. If it is next to your home, you have the joy of waiting until it sells and is built and then another year before you can start any major landscaping like installing a fence. And, you have the privilege of living through the build. Luckily, this is not happening much in the current market.
Member
Oct 11, 2007
318 posts
54 upvotes
Toronto
Trying to find a place to rent in Kanata and many places I visited are holding offers on a specific date to attract multiple offers... Is this normal for rentals?
Deal Guru
User avatar
Jun 28, 2003
10079 posts
3170 upvotes
Ottawa
kwanman wrote: Trying to find a place to rent in Kanata and many places I visited are holding offers on a specific date to attract multiple offers... Is this normal for rentals?
As a landlord who screens my own tenants, I have to say this approach is rather unusual. Can you let us know more information so we can give you better guidance?

1. Are these landlords individuals/families or is it a corporation like Minto?

2. Do you already know what the monthly rental prices are and what services (parking etc)/utilities are included? or the prices and other details are only revealed on the specific dates you mentioned, to the highest offer?

3. Is it rental for the whole house or individual rooms?

4. Is it for short-term or long-term with a lease?
[removed]
Deal Guru
User avatar
Jun 28, 2003
10079 posts
3170 upvotes
Ottawa
kwanman wrote: 1 year corner unit townhouse
Let us know how the process goes. The highest bidder does not necessarily mean the best tenant. A lot of potential pitfalls here for the landlords but hey if they want to maximize their profits, while hopefully continuing to do their due diligence to minimize the risks, who am I to question their method :)
[removed]
[OP]
Deal Addict
Nov 26, 2004
2587 posts
722 upvotes
canabiz wrote: Let us know how the process goes. The highest bidder does not necessarily mean the best tenant. A lot of potential pitfalls here for the landlords but hey if they want to maximize their profits, while hopefully continuing to do their due diligence to minimize the risks, who am I to question their method :)
I suppose it is also possible that the landlord is holding off processing application until a certain date as they are looking for the most qualified tenant. ie. Tenant with the highest income / best credits, etc.

Given the amount of investors owned Town homes in the burbs, I'm surprise that there is enough demand for a landlord to pull this off. I wonder if the rent was set low to begin with.
Deal Guru
User avatar
Jun 28, 2003
10079 posts
3170 upvotes
Ottawa
William W wrote: I suppose it is also possible that the landlord is holding off processing application until a certain date as they are looking for the most qualified tenant. ie. Tenant with the highest income / best credits, etc.

Given the amount of investors owned Town homes in the burbs, I'm surprise that there is enough demand for a landlord to pull this off. I wonder if the rent was set low to begin with.
I would like to see the ad to get a better sense about this approach.

This is what kwanman wrote in his post *holding offers on a specific date to attract multiple offers* I interpret it as landlords looking for the highest rental offer, not necessarily looking for the most qualified tenant.
[removed]

Top

Thread Information

There are currently 6 users viewing this thread. (3 members and 3 guests)

raleighrat, shaneLM, zherdev