Тёмный
No video :(

How can we afford 2 houses 🏘⁉️ 

Potato Talkies
Подписаться 189 тыс.
Просмотров 44 тыс.
50% 1

We talk about how we are able to afford 2 mortgages and why this condo will be our first house and not second. We talk about our out of pocket expenses and what we will need to do in order to close the 2nd house - risks, benefits and cost advantages.
Get in touch with our Mortgage broker (Vik): www.potatotalk...
First time home buyer incentive: www.placetocal...
Disclaimer: These videos are our personal views and opinion, they should NOT be considered as legal advice. We are not affiliated with any government organization or division. We assume no liability for how the information on this channel is used or interpreted and hence take no responsibility for any decisions that is made with regards to your application based on the information shared on this channel.
Subscribe to our RU-vid channel: / potatotalkies
Join our cause: / @potatotalkies
Download your immigration assistant (CANGUIDE): play.google.co...
Download the ultimate playbook to Canada: www.potatotalk...
Follow our life on instagram: / potatotalkies
We don't like immigration agents - the ones' that aren't authorized by ICCRC and qualified to help you with your application in exchange for money - first of all, it's not legal to do that, and second of all, it's so easy that you don't really need paid help! We are a young couple who started their Canadian Immigration journey in 2018 and moved to Canada 3 days before the pandemic hit in March 2020. Over the course of our application, we have seen so many people getting screwed over by greedy / fraudulent and unauthorized immigration consultants who promise you the world in exchange for thousands of dollars and deliver a whole lot of NOTHING; to an extent that in many cases, the applications get rejected, due to their negligence.
Therefore, we are taking matters in our own hands. After months of research and our own experience of applying for a Canadian PR, we came up with an e-book series & this RU-vid channel which would include - errors to avoid, perfect sample documents (my own) and alternate ways of immigrating to Canada - 100 pages of absolute goldmine between these 3 e-books - no filters, no premium versions to these ebooks... everything is out there FOR FREE, for you to read and execute the process yourself! All we are doing in these ebooks is sharing our experience of applying for PR ourselves / structuring and pointing you in the right direction via various different resources that are available on IRCC's official website. The RU-vid channel will compliment the e-book and add some personality and entertainment to the entire process :-)
Volume 1: Step by step express entry process from know nothing about immigration all the way to getting an invitation to apply (ECA, IELTS etc). Download here - www.potatotalk...
Volume 2: Post ITA express entry process - documentation, samples, POF, Proof of work, medical, biometrics all the way to getting a stamped passport ;-) Download here - www.potatotalk...
Volume 3: Alternate ways of moving to canada | Provincial Nominee program - OINP, AINP, MPNP, NSNP, SINP, RNIP and more. Download here - www.potatotalk...
Save your money, and if you find these e-books useful, do not forget to buy us a coffee when you reach Canada :-)
Do not forget to subscribe to our channel :-)
#housebuying #mortgageapproval #affordability #potatocouple #immigratetocanada #ultimateplaybook #youtube #ebook #expressentry #potatocouple #movetocanada #lifeincanada #canadavlogs #lifeincanada

Опубликовано:

 

21 авг 2024

Поделиться:

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист
Посмотреть позже
Комментарии : 334   
@srmashwani
@srmashwani 3 года назад
In addition of immigration, you can open a channel full time for investment (especially house buying)
@Shubham-jz7ec
@Shubham-jz7ec 3 года назад
Again a well detailed video guys. The best part I always like is how Navjot sir talk about numbers and make an informed decision. You are a nerd man♥️💯
@Potatotalkies
@Potatotalkies 3 года назад
Hahaha... thanks Shubham 😀
@mansibatra7248
@mansibatra7248 3 года назад
I agree with every single point that you have said /discussed . Also I just don’t understand why do people have to comment if it is bad decision or risky. You are adults who moved countries , you will do your homework .
@shreetales4101
@shreetales4101 3 года назад
You guys are soo perfect, the way you explain everything though with a risk that you're putting your personal details out... Truly commendable.... A lot learnt and a lot to follow .... Keep going you both! ❤️ Hope you find the best place to soon..!
@nirmaldesai
@nirmaldesai 3 года назад
Congratulations! I am still looking for buying my 1st property in Kitchner. Keep motivating 💪👍
@adruvitpandit5816
@adruvitpandit5816 3 года назад
It is realistic, 2 earners can own 2 houses. Also you will be saving on rent so its a good thing.
@coupledelights9112
@coupledelights9112 3 года назад
Congratulations guys ...so happy for you...can’t wait to start our own journey. Our PR is still waited. But thanks for the guidance ❤️
@Potatotalkies
@Potatotalkies 3 года назад
You will ... very soon 😀👏
@coupledelights9112
@coupledelights9112 3 года назад
@@Potatotalkies :D
@rana_ak30
@rana_ak30 3 года назад
same here😅
@coupledelights9112
@coupledelights9112 3 года назад
@@rana_ak30 what's your AOR?
@Ivandrago89
@Ivandrago89 3 года назад
@@coupledelights9112 what ia AOR?
@dushyantgupta11
@dushyantgupta11 3 года назад
Well calculated move. Really an inspiration for us. All the best guys
@staryeyedify
@staryeyedify 3 года назад
Congratulations guys.. well deserved! So detailed, apt and informative. As soon as Navjot says "numbers" I definitely watch the video with more focus! I love how well everything is always explained. Superb superb superb👍
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😊
@deboraabh
@deboraabh 2 года назад
*Paaji You Own not 2 now in 2022 you own 3 houses 🏘️ who knew and may be 2.5 houses not 3 but still and Congrats* 👏🎉 and may be you will buy a few more and in many other cities too 👍
@axienti
@axienti 3 года назад
Omg!! Congratulations on finalising the condo. Waiting for a full house tour 🙌
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😍 We are waiting to show you
@mann8109
@mann8109 3 года назад
Fortune favors the brave. 👍🏻👍🏻 Charhdi kalaa..
@jaspalsingh6757
@jaspalsingh6757 3 года назад
Congratulations.... Good decision.. Excellent compare and analysis..
@REVIEWSONTHERUN
@REVIEWSONTHERUN 3 года назад
Interesting! Thank you for sharing it. ✌️
@sageerasultana714
@sageerasultana714 3 года назад
You guys are smart. You deserve all the success, much love ☺️
@Potatotalkies
@Potatotalkies 3 года назад
😊👏
@SimerjitSM
@SimerjitSM 3 года назад
U will be fine don’t worry
@chiefengineeramitarora1670
@chiefengineeramitarora1670 3 года назад
Ohh man your calculations... i am so addicted to these calculations.. is it possible for you to get an editable version of your budget calculator ? So that I can use it for other provinces too.
@Shubham_006
@Shubham_006 3 года назад
It's truly a blessing to find a partner with same goals, all the best guys👍
@musthaveoriginal
@musthaveoriginal 3 года назад
Congratulations Guys! Keep it up (risk ❤️ ishq) 👍
@khushnazk8490
@khushnazk8490 3 года назад
Very well thought out! Hearty congratulations!
@tarunnavlani
@tarunnavlani 3 года назад
Bro.. get a readvacable mortgage for your condo. A readvancable mortgage is mortgage + HELOC attached. Search for term Smiths Manuever...its an excellent strategy to do leveraged investment and generate a portfolio in long term.
@tarunnavlani
@tarunnavlani 3 года назад
Also don't fall discounted mortgage with extremely low rates. They arent worth in long term. Look for mortgage which does not have bona fide sale clause
@Potatotalkies
@Potatotalkies 3 года назад
Thanks for the tips brother... will get into this 👍
@vikram5131
@vikram5131 3 года назад
If you want to grow, you need to take risks provided they are calculated risks. You guys are wise enough to take calculated risks. So wish you all the luck & many successes in life.
@203rahman
@203rahman 3 года назад
Hey guys, please make a video comparing various cities, both for a couple and single people and also the major factors that currently impact survival in Canada.
@Potatotalkies
@Potatotalkies 3 года назад
Sure; will try
@jamalrajput1
@jamalrajput1 3 года назад
The amount of information u guys r giving is phenomenal 💟
@Potatotalkies
@Potatotalkies 3 года назад
Thanks 😊
@gaurang3021
@gaurang3021 3 года назад
condo sale depends upon its location, age of building and property management, reserve funds and fees.If you come towards east brampton and mississauga. You guys will see good condo's are getting sold within a week with at least 30k over price. So please dont think condos are not getting sold out.. You probably dont see the actual demanding market.. Home buyers should always consult directly with banks and take qoutations and then shop around. *Mortgage agent should alwsys be the second option. I was just wondering if you are aware about the expenses post buying your new townhouse.. what do you receive is just a box with few appliances and you have to put additional 30k to 40k in it.. You should stay silent and save for your new dream home until you dont get the possession and once settled then enjoy and take feel of new house.. refinance the property after a year..Bank will give you additional money which can be used in your 20% for detached house.. Now this call a good investment plan. Bhai neeche se uper jaao..Uper se neeche kyu aate ho..😄
@Potatotalkies
@Potatotalkies 3 года назад
Normal mein majja kahan mere dost 😀 And we are saving 30K additional for Renos.. just in case.
@crazymutt007
@crazymutt007 3 года назад
Thanks for making us part of your journey...this is extremely informative..more power to both of you and may your dreams come true
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😊
@sumedhanayar1136
@sumedhanayar1136 3 года назад
Good luck guys. You will for sure succeed with all your plans.
@prateek121183
@prateek121183 3 года назад
burrah! shaabashe, wise decision! All the Best Guys! We just got our property evaluated in SYD and the gains are massive, we too are looking for a land or a townhouse :D
@Potatotalkies
@Potatotalkies 3 года назад
👏👏
@namanparwani08
@namanparwani08 3 года назад
hello guys congratulations for the second home You guys should start personal finance and general finance youtube channel
@Potatotalkies
@Potatotalkies 3 года назад
😀thanks! Starting something soon... not investment related but close :)
@namanparwani08
@namanparwani08 3 года назад
@@Potatotalkies yayaya very excited for it
@chocojewels
@chocojewels 3 года назад
Congratulations 🍾 this was very informative video . All the best
@masuffiyan9260
@masuffiyan9260 3 года назад
Hey, congrats on the condo, hope you get the deal. Can you disclose what type of mortgage are you going ahead with, variable or fixed?
@adityasehgal5566
@adityasehgal5566 3 года назад
For precon you can still go with minimum down with a different insurer when the time comes, as it will be your primary residence that point in time. Ofcourse subject to qualification based on your income and liabilities
@sanketpatil649
@sanketpatil649 3 года назад
your videos are very helpful. the kind of research you do for this is just amazing. I wish I could do same detailed research and calculations when making any financial decision or i wish atleast i had some smart friend like you to help out :D
@jamalrajput1
@jamalrajput1 3 года назад
Can't wait to see the new condo tour ❤️
@Potatotalkies
@Potatotalkies 3 года назад
Soon soon 🔜
@shauryaparanjape
@shauryaparanjape 3 года назад
Hey guys, love your video and your calculated risk based approach to life. One point of note, usually 5% down payment would require you to pay a mortgage default insurance premium every month. I think that is a significant impact to the bottom line of your Kitchener vs. Etobicoke comparisons
@Potatotalkies
@Potatotalkies 3 года назад
Yes, for sure... I am not a fan of CMHC but it’s spread across 25 years and no one keeps a house for that long.
@canadianjatti
@canadianjatti 3 года назад
@@Potatotalkies This doesn't make sense as the amount is added to the borrowed amount. YOu are going to pay for it no matter what. Even if you sell its accounted for. For example (I over simplified these amounts). The amount I want to borrow is 300k and CMHC premium is 15K then my mortgage is for 315 K. If I sell my home 10 years in and say now my balance on mortgage is 275k then the bank is still getting 275 k upon the sale. THe bank pays cmhc the 15k right away when you get the mortgage.
@Potatotalkies
@Potatotalkies 3 года назад
@@canadianjatti makes sense, thanks 👍
@parthavinod
@parthavinod 3 года назад
If I am right you need 20% on rental property when u move to New home in 2 yrs u just need to do 20% of rental condo, and 5% of property u are moving Keeping variable interest rate will keep penalties low if u need to break mortgage terms. I did this. This way u can keep total down-payment low.
@Potatotalkies
@Potatotalkies 3 года назад
Yup.. absolutely Best - hopefully the condo market explodes and we are able to refinance the property to 20% with the rental income without spending a penny from our pocket ;) but yeah, that’s like a dream scenario 😀
@hemang4310
@hemang4310 3 года назад
Congratulations guys 💐 I know in next 10 years you guys will be Canada's multimillionaire.
@Potatotalkies
@Potatotalkies 3 года назад
😍
@srishtiksikdar
@srishtiksikdar 3 года назад
Thank you for the detailed calculations! Your videos are really helpful for ppl like me, who want to know all the risks when it comes to buying properties. One question, since you are paying
@Potatotalkies
@Potatotalkies 3 года назад
Will be paying around $65 a month additional :/ But lets see - if $$ permits, will refinance to 20% in a couple of years to get out of the mortgage insurance
@sujayyerwa
@sujayyerwa 3 года назад
Congratulations....love the transparency in numbers...👍👍
@Potatotalkies
@Potatotalkies 3 года назад
👏👏
@alwaysspecial5285
@alwaysspecial5285 3 года назад
my 0.02, when you miss payments here the house is taken over by lender and sold at whatever price the market takes. One of my friends in Atlanta bought an under house, new 650k for 240K
@Potatotalkies
@Potatotalkies 3 года назад
So the plan is to not miss payments 😀
@muhammadfaisalawan9236
@muhammadfaisalawan9236 3 года назад
Hello Potato Talkies A big fan of yours from your neighbor country Pakistan 💚
@Potatotalkies
@Potatotalkies 3 года назад
Thanks 😊
@hmm00huh
@hmm00huh 3 года назад
Risk hai toh Ishq hai! All the best guys!
@Lj22
@Lj22 2 года назад
Awesome guys. Question rule of
@canadian_singh
@canadian_singh 3 года назад
Great update. Congrats to you guys. Regarding mortgage did you get a fixed rate of 1.29% ?
@msshaik3479
@msshaik3479 3 года назад
Good decision....smart move....👍 luck paaji.....keep posting..
@chandradeepsingh6100
@chandradeepsingh6100 3 года назад
Congratulations man I am a day one lover of your videos keep sharing the great info . My journey for Canada is on the way have a good day guys . U guys are superb 😊👍🏻 and I really likes the rule of 35
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😊
@jamalrajput1
@jamalrajput1 3 года назад
Awesome guys great work keep it up ❤️
@Potatotalkies
@Potatotalkies 3 года назад
😀👍
@arfinsyed
@arfinsyed 3 года назад
Hi Guys.. very happy about your success.. please do keep your sight on the contrarian factors as the real estate of Canada seems to be reaching its peak. The US bond rates are rising, the Canadian government will have to give in if the US rates continue to rise which will either cause CAD to weaken causing higher inflation and it will hurt more voters OR the Canadian government will be forced to raise domestic rates which will increase debt payments and people who have stretched their finances will experience defaults. The real estate market faces rock vsa very hard place.
@sjaswa
@sjaswa 3 года назад
Hope you have taken into consideration that the initial interest rates might be teaser rates and that these rates will be adjusted after the initial few years. Thus your mortagage EMI might go up from there on.
@sjaswa
@sjaswa 3 года назад
@Average Joe that's correct Government would love to keep the rates as low for as long as possible. However when the run away inflation kicks in, central banks across the world will have no option but to increase the rates.
@sachinbetawar
@sachinbetawar 3 года назад
Another outstanding video...Both of you are doing great job Guys....Best Wishes....Cant wait to see your house tour :)
@Potatotalkies
@Potatotalkies 3 года назад
Thanks 😊
@luman1789
@luman1789 3 года назад
You guyz did great deeds in previous lives. God lives in ur pockets.
@Potatotalkies
@Potatotalkies 3 года назад
🤗
@apurvpatel2962
@apurvpatel2962 3 года назад
Did you guys factor in the extra down payment that you would have to put for the Townhouse? Because I didn't see it on the green board. Good informational and detailed video. You might not know what a difference you are making in new immigrants life. Keep the good work going.
@Potatotalkies
@Potatotalkies 3 года назад
Thank you! 😀 Yes, downpayment is there but I don’t consider that an expense as 100% of that goes towards equity :)
@sonalisatapathy4370
@sonalisatapathy4370 3 года назад
Congrats...my all time fev vlogger..😊.please let us know from your research is there any resale value of a condo ??Thanks
@Potatotalkies
@Potatotalkies 3 года назад
Absolutely... it’s less than townhouses, but condos also appreciate in value.
@akashpatel291
@akashpatel291 3 года назад
Informative contents in every video. Love from ODISHA
@boreddesiguy4911
@boreddesiguy4911 3 года назад
I think you can do a tax write off on maintenance and interest once you rent it out. Like your explanation. As you mentioned it depends on individual risk tolerance. But in my view real estate is lot of work.
@Potatotalkies
@Potatotalkies 3 года назад
Agree 👍
@manum4332
@manum4332 3 года назад
Love your channel, all the best guys
@Potatotalkies
@Potatotalkies 3 года назад
👏👏
@nehatiya568
@nehatiya568 3 года назад
Awesome guys happy for you
@Farhankhan_the1
@Farhankhan_the1 3 года назад
You guys always use green board and show us calculations that’s really helpful ,not like hawa hawa me baate like other channels 😂😂💜
@JagdeepSingh-ih8fo
@JagdeepSingh-ih8fo 3 года назад
Great information!
@tttinft
@tttinft 3 года назад
Can you guys make the same video, but in English only? Sounds like a lot of good info!
@subhojitroy1059
@subhojitroy1059 3 года назад
Congratulations Guys, wonderful videos are inspiring one and all...
@Potatotalkies
@Potatotalkies 3 года назад
👏👏
@subhojitroy1059
@subhojitroy1059 3 года назад
@@Potatotalkies we are thinking of moving to Canada through PR, and we would need your help , me and my wife watch all your videos and look forward to connecting with you guys once we land there.
@kaala-paani
@kaala-paani 3 года назад
How are you so sure about the mortgage rate for your townhouse ?. By 2023 the mortgage rates might increase back to pre pandemic levels or may be more.
@Potatotalkies
@Potatotalkies 3 года назад
I am not sure; just going by bank of Canada’s statement in December that they won’t increase it by 2023. But you are right; we might end up spending $100-150 more per month if the rates increase to over 2-2.5%
@anandanidhi1633
@anandanidhi1633 3 года назад
Congratulations on your new home guys! May it be a setting for memories to cherish. I have a rather strange request. How does one go about buying land in Canada if one wants to build their own offgrid tiny home in it? Any insights?
@momgrammer5265
@momgrammer5265 3 года назад
Browse listings in Realtor for vacant land.and you need to call the city about the zoning and what is permitted to be built there. You also need to make sure there is already utilities like electricity, water and sewage. Getting these utilities if not already available can be very expensive
@Potatotalkies
@Potatotalkies 3 года назад
Haven’t explored that yet.. thanks Momgrammer for the inputs :)
@canadianjatti
@canadianjatti 3 года назад
A very expensive option. I only knew a few people that have done this and they had millions to spend so it made sense. They could deal with all the added expenses for the engineer and utility connections and permits etc.
@mhjyiu
@mhjyiu 3 года назад
Congratulations !!
@viggypillai8323
@viggypillai8323 3 года назад
Congratulations 🥔
@shobhitdevi4859
@shobhitdevi4859 3 года назад
Totally love you guys spirit and confidence. Exactly "why not" . Risk tou lena parta hain 😁
@Potatotalkies
@Potatotalkies 3 года назад
👏👏
@AnamSiddiqui910
@AnamSiddiqui910 3 года назад
On point videos all the time 👍🏻
@Potatotalkies
@Potatotalkies 3 года назад
Thanks 😊
@arav6073
@arav6073 3 года назад
Ekdam perfect calculations he Love you paaji ❤
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 🤗
@anildaita
@anildaita 3 года назад
I'm clueless how you are approved for 700K with Simran not working?
@Potatotalkies
@Potatotalkies 3 года назад
Simran is working buddy... since January.. guess you missed a few videos :) Dec was the only month she wasn’t working
@anildaita
@anildaita 3 года назад
@@Potatotalkies hmm!! I checked comments on almost every video and nowhere could I find congratulatory messages, which is kind of odd!! :-P
@aradhyatarigoppula1265
@aradhyatarigoppula1265 3 года назад
@@Potatotalkies Great Video!!! But the part that i am still unclear on is , if total mortgage limit is 700k then when you close the townhouse then your overall mortgage request will be for roughly a million (650+400), so how would the bank lend you a loan for that amount considering your approval limit of 700k? Isn't the total falling outside your approvable limit?
@Potatotalkies
@Potatotalkies 3 года назад
@@aradhyatarigoppula1265 thanks. We will have 3 options: 1. Put the condo on rent and refinance. Our mortgage eligibility will improve by at-least $200K if we do that. A rough calculation there is that they will look at the negative $400 cash flow and multiply it by 2 = $800 and assume that’s our monthly expense for the condo (instead of the actual $2250) 2. Put 20% down on the pre con at the time of closing and go for private lending which is usually about 0.5-1% more expensive. 3. Put a 35% down and then no one cares about your eligibility Will probably go for 1 or 2. 3 if we win the lottery 😂
@Potatotalkies
@Potatotalkies 3 года назад
@@aradhyatarigoppula1265 wishing you the best 😊👏
@vishalpandya773
@vishalpandya773 3 года назад
Hey Guys Please answer my question Is it right that a student attend classes online from sitting in canada can not get extra PR points of study....??????
@ashikprem6191
@ashikprem6191 3 года назад
Congratulation guys. Your videos are very helpful. Keep posting and stay safe guys. I have a question regarding pre construction townhouse. How did you manage to find out about the pre construction projects. Are there any websites or did you find with the help of real estate agent. Please let me know. Thank you in advance.
@Potatotalkies
@Potatotalkies 3 года назад
buzzbuzzhomes
@ashikprem6191
@ashikprem6191 3 года назад
@@Potatotalkies thank you so much guys
@jayeshvora2968
@jayeshvora2968 3 года назад
Please make a video on parents PR or if we intend to move them, what to expect in terms of heath insurance cost
@banigalhotra1501
@banigalhotra1501 3 года назад
lots of love and blessings...from punjab
@yuvrajdhillon6396
@yuvrajdhillon6396 3 года назад
Very informative video
@allitm4642
@allitm4642 3 года назад
God Bless you both 🙏👍🤑
@ankitaahuja111
@ankitaahuja111 3 года назад
This is a very calculative risk.. Good job!
@Potatotalkies
@Potatotalkies 3 года назад
Thanks 😊
@aradhyatarigoppula1265
@aradhyatarigoppula1265 3 года назад
Great Video!!! But the part that i am still unclear on is , if total mortgage limit is 700k then when you close the townhouse then your overall mortgage request will be for roughly a million (650+400), so how would the bank lend you a loan for that amount considering your approval limit of 700k? Isn't the total falling outside your approvable limit?
@Potatotalkies
@Potatotalkies 3 года назад
I remember responding to this in a different post I guess
@SS-sv4gg
@SS-sv4gg 3 года назад
Congratulations guys
@meenakshishukla1706
@meenakshishukla1706 3 года назад
All the best guys!!!
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😊
@imperialnaman8287
@imperialnaman8287 3 года назад
Please make video on topic of certified personal trainer job in Canada and fitness career opportunitys
@trendpunjab6190
@trendpunjab6190 3 года назад
The way u guyz put down things I m ur fan 😃
@Potatotalkies
@Potatotalkies 3 года назад
🤗🤗
@jaspinder626
@jaspinder626 3 года назад
guys, per my understanding Canadian mortgages are always ARM, so your calculations are only valid for 5 years right ? that means you are exposed to interest rate risk ?
@Potatotalkies
@Potatotalkies 3 года назад
Yes correct 👍 always the risk, esp with primary house where you live
@saifrazvi9380
@saifrazvi9380 3 года назад
Haha I can never understand why people just give out free (and unnecessary) advice like 5% nahi 20% dena padega and what not. Especially when Navjot is so strong with research and numbers. Wish people would just try and learn from you guys and offer suggestions for videos they would like to see rather than half-baked advice More power, potatoes!
@anildaita
@anildaita 3 года назад
very true.. their research is always bang on!!
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😊
@rupindersinghkharbanda1976
@rupindersinghkharbanda1976 3 года назад
Good information 👍
@rupindersingh8241
@rupindersingh8241 3 года назад
Hi potato talkies! Just wanted to inquire the exact website or way to search for condos. Where do you search them from? Thank you
@Potatotalkies
@Potatotalkies 3 года назад
House Sigma
@vishalbehal7746
@vishalbehal7746 3 года назад
When u r wasting time on reels & Potato Talkies drops their video 😆 & u r the first to watch 😎 cafe banana 🍌
@Potatotalkies
@Potatotalkies 3 года назад
Haha 😀
@staryeyedify
@staryeyedify 3 года назад
Navjot Sir, can you please make a video on how to budget your income in such a way that you know how much money to spend on buying a first house?
@Potatotalkies
@Potatotalkies 3 года назад
Next video on that 😊
@CinCinatiBablaBoo
@CinCinatiBablaBoo 3 года назад
Waiting to meet you soon guys all the best blessings
@Potatotalkies
@Potatotalkies 3 года назад
😀😀
@happy_sole3274
@happy_sole3274 3 года назад
love your channel
@momgrammer5265
@momgrammer5265 3 года назад
There are still many factors to be considered when you showed the calculations. But won't get into it. Congratulations on your new home!!!
@Potatotalkies
@Potatotalkies 3 года назад
Thank you 😊
@tarajatt6734
@tarajatt6734 3 года назад
Everyone I know in Canada is under Fear Of Missing Out on home ownership... such a bubble has been created there that even Govt has no other option but to support the craze. If they take any corrective measures, number of Canadians who will be upside down on mortgage will be more than people who wont be affected. On the other hand, If I could get my hands on 1.25 - 1.75% loan amortized over 25/30 years, I would have also joined the rat race (as investor ;)), that's the cheapest money one can get...
@Potatotalkies
@Potatotalkies 3 года назад
Just buy what you can afford to hold long term... that’s the mantra in any market :)
@tarajatt6734
@tarajatt6734 3 года назад
@@Potatotalkies That is true, I am sharing observation on the Canadian Real estate market right now, not on your situation. This kind of craze led to the economic downturn of 2008 in US, real estate bubble. Banks approving loans left right and center and sky high home prices. Also, stretching too thin to get into home ownership is becoming very normal in Canada. If you remember i did some back of napkin calculations on your numbers and told you would be better off buying now rather wait for 2 years. I am glad you taking that step because you are numbers guy. But 2 mortgages (after 2 years) and a projected rental income after 2 years is not my cup of tea. You are brave. Becoming land lord comes with its own set of challenges and I will look forward to your video about experiences of being a landlord :)
@Potatotalkies
@Potatotalkies 3 года назад
@@tarajatt6734 absolutely 👏👍thanks
@hitarth84
@hitarth84 3 года назад
Hi! Just wanted to know whether the rental income would attract tax and if yes then wat would be the post tax scenario (comparison). I feel comparison on post tax basis good give a better insight.
@ranv23011
@ranv23011 3 года назад
Nice, but your pre-construction house was around 650K, if you use 10% of deposit for this condo (assuming no first time home owner benefit), how will you save 20% of the pre-construction down payment in 18 months (as per your previous video it's available Jan 2023), that is around $7200 a month. Sounds unreal and at this point the risk far far outweighs the reward.
@Potatotalkies
@Potatotalkies 3 года назад
We already paid the 10% (64K) from our savings till Jan and will pay another 5% (22K) in June on closing the condo... :) Then we need to collect 64K in 18 months which is about $3500 a month - should be possible With a little bit of discipline and hardwork :)
@vv0042896
@vv0042896 3 года назад
Guys ... we are a young couple like yourselves based in Kitchener, similar backgrounds and stories as you. Once you guys move do reach out ,would love to connect and chat
@Potatotalkies
@Potatotalkies 3 года назад
That’s awesome 👏
@23Ashishonelove
@23Ashishonelove 3 года назад
Guys where is this place you guys are shooting?
@Potatotalkies
@Potatotalkies 3 года назад
Port credit
@allaboutlifewithvijay
@allaboutlifewithvijay 3 года назад
Congratulations to both of you. However I don't agree with your decision. A mortgage is always a liability, I think you will understand this when you become a bit more mature. Investing your savings in an index fund is always better in long term.
@Potatotalkies
@Potatotalkies 3 года назад
Do watch our latest videos. We invest in index funds, ETFs, crypto, Realestate and business. Mortgage at 1.29% is a no brainer :)
@allaboutlifewithvijay
@allaboutlifewithvijay 3 года назад
@@Potatotalkies you guys are doing a great job. Our family really like your videos
@alwaysspecial5285
@alwaysspecial5285 3 года назад
Nice calculations, but a what is scenario is if the interest rate becomes 5% are you covered?
@Potatotalkies
@Potatotalkies 3 года назад
If it gets to 5% - roughly 400K families will go bankrupt :) If we start planning a life around extremes, we will never be able to move forward. There’s a reason why investments are subject to market risk :)
@canadianjatti
@canadianjatti 3 года назад
This is why there is a stress test on new mortgages now and new rules for this test coming in June.
@withoutmalicexo
@withoutmalicexo 3 года назад
Love your gap hoodies bro hehe
@banerjeesupriyo
@banerjeesupriyo 3 года назад
Are you taking mortgage from bank or mono lender? Can you share which bank or mono is giving 1.29 (prime - 1.16)? I am assuming variable here considering the percentage you mentioned!!
@Potatotalkies
@Potatotalkies 3 года назад
CIBC simplii Yes, this is variable
@bsimakhan
@bsimakhan 3 года назад
👍🏻.. quite informative👌🏻
@Potatotalkies
@Potatotalkies 3 года назад
Thanks 😊
Далее
Managing our increasing EXPENSES with our INCOME 🚀
13:18
The kindhearted bunny officer helps the disabled!
00:20
Buying a Condo in Kitchener 🏠
19:44
Просмотров 82 тыс.
Why This Coupled Left Delhi & Moved to Mussoorie?
14:32