For the prices to come down, the demand has to cool off. But all I hear in my circle is about buying house and people are waiting with down payment. I don’t see any reason the demand will cool off in the near future.
It all depends on your job & how much you earn in a year, basically need to earn at least 70grand or higher., Basic funda is if u by force moving to Toronto live there save as much as you can and if things permit like job then move to a different city or province where prices r cheaper. And yes people who initially move into Toronto want Indian area where lot of our desi bhai n unki family rehte hain that tends to be Brompton which is a posh n expensive area. Personal experience I would say avoid that part of city till you saved money , have a car, agar detached house on rent le sakte ho to ok ot condo me have to adjust for just few years then move to your new house which i am 100% sure you can buy(keep in mind the salary). Plus I have heard ki there are lot of good opportunities for FIRST TIME HOUSE OWNERS, not exactly sure ki what n how much finance is needed but itna pakka hai ki govt does help and figure out the mortgage with some of the mortgage companies. Good thing about Canada is you can get job, bas dont have job discrimination, like back home it is. JOB-ROTI-KAPDA-MAKAN.
You need a downpayment of 250k to buy a home that costs $1mil with closing costs included....I don't know which kind of job will allow someone to save $250k in 2 years.
Its good to move Toronto but if you went Calgary it would be cheaper than that you would stay in big mansion because in your budget you can get a nice house 🏠
You are doing right things. I know this craziness is bcz all of a sudden banks slashes the interest rates plus net positive immigrant migrations. People r thinking they will sell the house in 1/2 years and make some money out of it. Just wait with this much high inflation rates ,ROI in banks will definitely going to increase and they those who r playing cut to cut will be forced to sell their houses.
Yeah!! The situation is pretty grim. Just hoping for some good news so that ppl like us starting from fresh can think of settling here. Staying positive 😊☺️
Very honest and practical way of thinking. I’m from NRI dubai based in Mumbai so really relate your topic on Mumbai’s real estate market and not now since ages market is beyond crazy 😜
Humpty Dumpty 2 you will chase some of us because you are again using lots of Hindu language and I'm sure many of your followers can't understand you Nd you've not used subtitles....the last one you did this week was in Hindu too and we complained but again now? 😌😔
Great video! Just wanted to say that I related so much to your video and story! We also moved to Canada in May 2021 and had a baby in July 2021. Our babies were also born just a week apart! 😊 Great going and keep posting great content!😀
The bubble will definitely burst. Inflation is making other commodities more expensive, plus, more than 50% of Canadian house buyers have purchased houses (in the last 1-2 years) by making 3% to 5% down payment for extremely inflated property prices. This means 95-97% is a loan, any interest hike means they will default big time unless they have savings (likely not as that has gone in down payment). Advisable to keep away from such inflated property prices! It is not far when banks start offering loan repayment terms of 25,40, or even 50 years.
Thank you so much for this video 🙂, it clarified a few of the things which are in my mind, and you gave me a nice perspective on how the life is going to be in Toronto.
Hi I am planning to move back to canada as permanent resident and I am in same situation as yours Please share some informative videos regarding 2nd landing 1. Canada border security requirements 2. How to carry language? 3. How to carry CAD as PR holder? 4. Which documents required for 2nd landing? Please do needful I am planning in April 2022
