Buying a home in Canada

[axe168]

My three children have never encountered racial discrimination in schools or at work. My eldest son is a senior bank manager with an international bank, my second son is a manager with Sony and my third daughter is a teacher. They do not have problems getting their jobs and are treated as equals.

Wow ! good on you ! You should retire & travel to SG.. show them how HAPPY you are...

Kena sai.. my son is only 7 yo.. I have way to go..

 

[Asychee]

It is very sad, that you believe the newspaper lock stock and barrel. Any sgean who has worked in some trusted position link Sg govt. will know that what you see in the papers is what the pappy spin doctors wants you to see. Eg. ah loong no. 1 wife

In Ang mo Newspapers olso have right, left wings, no wings and chicken wings. What sells a newspapers, "sensationalization" rite. Gotta look behind the veil. Even with all the stats - olso gotta look behind the veil. Eg. 1 hand in boiling water (100 degrees) & 1 hand in ice (zero degrees) there stats wise = 50%.

In reality, if you think that just posting randomly selected news and stats is going to stop the people from getting out of Sg. I would equate it to fighting a trend - my suggestion is "Don't". Some will make it some will not. It is best to help more to make it, then you can build up your network to makan chicken soup, lim kopi & etc.

Helping all the samsters. I realized that it is the motivation that will drive them to take action.

 

[Asychee]

Wow ! good on you ! You should retire & travel to SG.. show them how HAPPY you are...

Kena sai.. my son is only 7 yo.. I have way to go..

Bros,

posting of behalf of cheong lah, he register for this forum - no. 1 post. Kena ban oredi. Looks like he held the record of the fastest 1 to kena ban.

 

[wendypoh]

Here is the most dreaded news: The price of a house is now nearing $1 million dollars in Vancouver and an average condo is $470,000. Upscale condo costs more.

At the current exchange rate that is a cool S$1,383,000 dollars for a house in Canada. The condo will cost S$650,000 to buy in Vancouver.

Compare this to USA, a house costs about $250,000. You are better off buying a house in USA or New Zealand.

No matter how this is spin, clockwise or counter clockwise, left or right, you need to come up with $1 million Canadian dollars to buy a house :(

 

[Asychee]

No matter how this is spin, clockwise or counter clockwise, left or right, you need to come up with $1 million Canadian dollars to buy a house :(
QUOTE]

Ah Wendy Soh,

There you go twisting the news again - right now people trying to beat the GST/HST mah. when you buy a property. How much comes from downpayment and how much comes from the bank. If you are Canadian PR. 10% down payment nia, the rest comes from bank mortgage - i am not saying that all immigrant start from a house. Most will get into Townhouses or something that is more affordable. Same Pappy style - about time to change lah.

I belong to a Real Estate Group that has $3 billion worth of real estate across Canada. We are very familiar all the pattern that the Real Estate market can come up with.

If you are more creative, you can do agreement for sale. Remeber, it's your own principal residence - some instances can go down as low as 5% down payment nia.

Anyway, canada is so big - some many cities. Dont need to keep harping on Vancouver only. Wait till after the intro of GST/HST - wanna take a bet on where the market will head.

 

[wendypoh]

Aiyoh, Ah Chee koh,

HST was only announced last year, to be implemented in July 2010, give you the benenifit of doubt, people are rushing to buy now, But take a look at these, in 2008, the price is already $904,000, 2009 it is $922,000, April 2010 it is almost $1 million.

What will the price be by Dec 2010 is anyone guess. Real estate appreciate more than depreciate.

Still, whichever way it is spin, you need a cool $1 million in your pocket to do house hunting :(

 

[wallace]

Here are what you need to pay across Canada to own a home.

Vancouver $922,000 - that is as much as what a house cost in Singapore?

Toronto $552,500 - this price is much better

Calgary $560,000 - this price looks a little expensive for a smaller city

Edmonton $535,000 - this price is even worse for a sub-zero climate city

Hamilton $400,000 - this seems to be the best price

Australia is cheaper by comparison. The average price of a house in metropolitan and non-metropolitan areas is about $371,000.

In Canada, you need $500,000 in most cities and $900,000 in Vancouver.

But prices in Australia are rising fast..

House price rises to extend into 2010
http://www.smh.com.au/business/property/house-price-rises-to-extend-into-2010-apm-20091211-kobu.html

Australian Bureau of Statistics - House Price Indexes: Eight Capital Cities, Dec 2009
http://www.abs.gov.au/ausstats/[email protected]/mf/6416.0

 

[Asychee]

Aiyoh, Ah Chee koh,

HST was only announced last year, to be implemented in July 2010, give you the benenifit of doubt, people are rushing to buy now, But take a look at these, in 2008, the price is already $904,000, 2009 it is $922,000, April 2010 it is almost $1 million.

What will the price be by Dec 2010 is anyone guess. Real estate appreciate more than depreciate.

Still, whichever way it is spin, you need a cool $1 million in your pocket to do house hunting :(

Ah Wendy Soh,

You still spinning into the New Home market. New immigrant very rarely go straight into the new home. It is usually in the Resale. Dont know which part you dont understand. I "O" level nia olso can get it you degree high high one cannot. Piaz.

Resale homes means u put down 10% (60+K) for deposit and the rest from bank for the mortgage.

The Y2008 increasing is the Olympic effect. That y i invest i dont speculate.

 

[whistler]

hahaha...... i find these exchanges so amusing.
well, at least in Vancouver you can get a HOUSE with 1million bucks. in SG, hdb already hit 900k (transacted, not asking) in the resale market......

 

[Satan]

But prices in Australia are rising fast..

Hee... Couldn't agree more. Prices are rising and with interest rates in Oz rising like nobody's business, many of the folks find it very hard to afford a house, and with the rental market also sky rocketingin the major cities, things are only likely to get worst. The Oz government has tried in vain to get people especially new migrants to move to other areas rather than crowding around Sydney and Melbourne. Proabably now, the rising house prices could make their dreams come true.

 

[Satan]

hahaha...... i find these exchanges so amusing.
well, at least in Vancouver you can get a HOUSE with 1million bucks. in SG, hdb already hit 900k (transacted, not asking) in the resale market......

Really? That expensive? Which location?

 

[axe168]

Hee... Couldn't agree more. Prices are rising and with [COLOR="_______"]interest rates in Oz rising like nobody's business[/COLOR], many of the folks find it very hard to afford a house, and with the rental market also sky rocketingin the major cities, things are only likely to get worst. The Oz government has tried in vain to get people especially new migrants to move to other areas rather than crowding around Sydney and Melbourne. Proabably now, the rising house prices could make their dreams come true.

Wah biang.. every quarter percentage increase is like a quarter pack of needles into my heart.. so we have a lucky country but unlucky resident, hehehe:p

 

[kitkat]

in SG, hdb already hit 900k (transacted, not asking) in the resale market

That is not the entire market but one odd transaction that hits $900K. If the entire market hits $900K, it is really crazy.

 

[whistler]

well....1 odd transaction is all it takes to feed the feeding frenzy of all sellers asking for ridiculously high COVs and getting all the kiasu buyers panicking

 

[wendypoh]

Majority of Canadians are proud and extremely pleased with the healthcare system.

Bet Cheong Wing Lee didn't tell you this

• Hallways crowded with patients
• 34 'near-misses' in the past 2 weeks
• Money spent on problem has not worked
• Patients wait too long for urgent care
• Patients wait too long to be transferred to other wards


Who do you want to believe? Cheong Wing Lee or the Vancouver Sun?

 

[Jackbcryan]

Ok. Look for Canadian home prices real time at www.mls.ca . Type in any city. Try Kamloops in British Columbia. Just bought a house of 2100 sq ft for $322,000 with 8000 sq ft of land in town. Left Spore 2001.

 

[Hock]

Ok. Look for Canadian home prices real time at www.mls.ca . Type in any city. Try Kamloops in British Columbia. Just bought a house of 2100 sq ft for $322,000 with 8000 sq ft of land in town. Left Spore 2001.

What are you doing in Kamloops? The town(city) seems pretty
small; population around 100,000. What is driving the economy there?
Property prices seem reasonable.

http://www.sunmoreginseng.com/

 

[jake]

Try Kamloops in British Columbia. Just bought a house of 2100 sq ft for $322,000 with 8000 sq ft of land in town.

If you are a retiree, settling in Kamloops is fine. Otherwise, there are hardly any jobs there unless you want to work in MacDonalds.

By rural standards, $322,000 for a house in Kamloops is expensive. A reasonable price in rural areas would be in the $100,000 to $200,000 range.

In urban areas, prices starts from $700,000 onwards. Houses that advertise for less than that are normally small and rundown, about 35 years old. In Vancouver, be prepared to see houses selling for $1,000,000.

 

[Jackbcryan]

Then I got the good fortune of getting a fantastic job here. If I tell you what it is I got to kill you. This place is gorgeous. 3 x the size of Malaysia with 1/6th the population. And I own a 22 caliber rifle. Take that Singapore.

 

[Jackbcryan]

Hock, one clue. Higher Education. There's 1200 international student from China, India, Saudi Arabia, Taiwan, Africa, Europe. The University is the top water consumer in town with 10,000 students and 2000 staff.