Topic: thinking of buying a condo. any advice?

[Ex-airbalancer]

totally.   

yeah.  i figured condos didn't make as much sense as houses.   numbers typically don't jibe.
some of the condos are very cheap in calgary nowadays, but condo fees are out of whack.   

i saw one condo in not even that good neighborhood, with no amenities like gym or pool that has condo fees in the upper $600 /m ....

most decent ones has condo fees in upper $400 or low $500s..     -_-; 

save up few more years and should buy a house instead...

I guess you have to compare apples to apples
So condo will have heat & cooling in their price
Get a townhouse if you cannot swing a a detached
At least you have something for your rent

We have rental townhouse ( long ugly story there) we had it on the market for 130,000 no buyers , renting it now for $1100/ month and people were lining up to rent it

For less then $500 u can get a $100,000 mortgage
I rather buy then rent

[safristi]

  more fool them (renters)...........exposes the lack of minimal financial smarts on many folks.....teach economics 101 @ University level in Grade 8 fer heavens sake.......

  Airbee if it's on the water and comes with 2 seadoos...i'll give ya $111,111.99.....................

[Ex-airbalancer]

more fool them (renters)...........exposes the lack of minimal financial smarts on many folks.....teach economics 101 @ University level in Grade 8 fer heavens sake.......

  Airbee if it's on the water and comes with 2 seadoos...i'll give ya $111,111.99.....................

If it was on the water, I be living in it 

[quadzilla]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

[safristi]

Hello Jacques Cousteau...............

[Ex-airbalancer]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

We are not in city but a town LOL

[safristi]

... HOPE and spare some Change........

[mmret]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

Seriously. If only the speed limit was 200km/h and there wasn't any traffic so I could make it into work.

[Ex-airbalancer]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

Seriously. If only the speed limit was 200km/h and there wasn't any traffic so I could make it into work.

Just a hour on the train
Great if you work DT TO

[dr_spock]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

Don't even need a mortgage with a $100K down payment. 

[quadzilla]

Just a hour on the train
Great if you work DT TO

Are you talking about taking the Via to/from Cobourg/Toronto?

There is only 1 train that gets into Union before 9am which leaves Cobourg at 6:59am arriving at 8:20am. Of course that doesn't include your time to get to the station either so approx 1.75 hrs each way making 3.5 hours of traveling to/from work.

Price = $67.80/day which is $339/week which is $1356/month.

No thanks!

[Leviathan]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

Don't even need a mortgage with a $100K down payment. 

Hehehe. There's a couple of dandy 2 bedroom townhome(ish) like units in a 30 year old complex not too far from me and they're listed for $595,000/ea. I've been looking elsewhere 

These strata councils are worrisome - I don't think that I've heard a positive story yet.

[mmret]

For less then $500 u can get a $100,000 mortgage

That is great only if you live in a city with $100,00 houses.

Don't even need a mortgage with a $100K down payment. 

Hehehe. There's a couple of dandy 2 bedroom townhome(ish) like units in a 30 year old complex not too far from me and they're listed for $595,000/ea. I've been looking elsewhere 

These strata councils are worrisome - I don't think that I've heard a positive story yet.

Yeah, nobody needs condo board politics and general lunacy if they can avoid it. I can't even imagine the stress.

[Ex-airbalancer]

Just a hour on the train
Great if you work DT TO

Are you talking about taking the Via to/from Cobourg/Toronto?

There is only 1 train that gets into Union before 9am which leaves Cobourg at 6:59am arriving at 8:20am. Of course that doesn't include your time to get to the station either so approx 1.75 hrs each way making 3.5 hours of traveling to/from work.

Price = $67.80/day which is $339/week which is $1356/month.

No thanks!

There is a monthly pass so it $31/day

If you work in a tower where you could walk from Union station, it works for some people

[Ex-airbalancer]

Might as well get a sleeper car if you're going to spend 3hrs a day on Via to get to and from work :-)

How about a private car http://www.thestar.com/news/gta/fixer/article/813446--private-rail-car-steeped-in-nostalgia
VIA will also move your private car http://www.viarail.ca/en/about-via-rail/vias-professional-know-how/private-rail-car-moves

[dr_spock]

Yeah, nobody needs condo board politics and general lunacy if they can avoid it. I can't even imagine the stress.

One of my friends was president of his condo board.  He had to deal with noisy residents, parking issues, drainage, bylaws, etc.  He was very happy when he sold his condo and moved.  Strangely enough, he bought another condo but he is not part of the new condo board.

I've convinced my daughter to start saving early.  She said she wanted her own house when she was 4 or 5.