Quote:
Originally Posted by Axeman
Your an absolute idiot but that is besides the point. Vancouver and Toronto are very similar in their cost of living. Nobody is arguing that fact anyway. I've pointed out the market you are in determines the value of renting vs buying. And in a city like Vancouver where the average "HOUSE" is now $540k and a mortgage of $2800 a month and the rent for a house of similar size (location can vary) is renting for $1050 average.
You keep trying to compare houses to apartments. Are apartments going to be a lower gap than houses? Of course. But some families needs houses and not apartments. Some singles or couples don't need space and like apartments over houses.
But you percieved reality over hard facts from a major lending bank in Canada says it all. The average gap for a 2 bedroom home "IS" $1700 a month over renting in Vancouver right now. Whether you choose to believe it or not.
But if you want to buy in Windsor, Ontario you are paying even if not a bit cheaper to buy a house or a condo over renting there. All depends on the area you want to live and if you want to do renovations are not. In that market you are better off buying since there is no gap.
Again its all moot if you dont use that difference in rent vs mortgage payments to invest in other things.
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Dude! If you can't afford to buy a house it's ok. You don't need to get so bitter. Trust me it's not the end of the world
Now, where did you get the average price of house in Vancouver 540k again? Scotia reports? Isn't scotia often being called the poor man's bank in Canada? lol. Anyways, everywhere else I looked for average house value in Vancouver it says 373k toronto 290k and am talking toronto. Also that doesn't mean a starter home is the average value. Let's talk reality for a bit here. I moved from an apartment to a house 5 years ago. Thou I bought a diff a bit bigger house paying cash later bank had told me my mortage would be 1200/month if I decided to go with a houseloan with 10% down for that moderate size home. Well that's what I was paying for the apartment I was renting and also 1000 less than the apartment I was thinking to rent. So 1200/mon mortgage didn't seem bad at all. Anyways without a mortgage my house expenses was 200/mon prop tax + 25/mon ins + 100/mon utility = 325 so I paid 325/mon or with mortgage it'd be 1525.
I keep trying to compare houses to apartments? So? You on weed? Houses to houses the gap would be even lower. If I rented a similar house that I had bought I'd be paying atleast 1600/mon rent=1600 per month wasted.
Now dude, stop crying.. depending on your age you may have many years ahead of you to buy a house
