Should I buy a house in Toronto now ? - GoFuckYourself.com

jay23 · 07-04-2015, 01:56 PM

Thinking of moving back to Toronto after 20 years in US. The average price for a home in GTA is 650K, is this a bubble ? or is the price going keep going because of more and more Asians buying.

Jay

SilentKnight · 07-04-2015, 02:40 PM

Lived in Scarborough through the 80s...got out just before the worst of the Asian invasion.

You couldn't pay me enough to move back to Toronna. Traffic is a nightmare (Asians can't drive worth shit)...house prices are ridiculous. I've heard the average house price is closer to $1mil.

What's luring you back to Toronto?

incredibleworkethic · 07-05-2015, 03:22 AM

I used to live about an hour from there in a smaller city, but still a busy one. I've since moved further from Toronto lol.

A house I'm in now is huge and costs me fuck all and I'm surrounded by people I like with a decent yard.

Shap · 07-05-2015, 03:57 AM

Quote:

Originally Posted by jay23

Thinking of moving back to Toronto after 20 years in US. The average price for a home in GTA is 650K, is this a bubble ? or is the price going keep going because of more and more Asians buying.

Jay

I moved to toronto in 2008. Felt like it was a massive bubble back then. Bought and sold (should have bought and held). Is your purpose for moving to toronto an investment or lifestyle? I bought in london and it's massively overpriced here but it was in the area we wanted to call home so whether it's a bubble or not isn't really relevant.

I imagine in the next 5 years there could be some up and downs. But if you look 20 years from now that average price will be double what it is today.

Bryan G · 07-05-2015, 04:52 AM

I own a home in Toronto. I bought it in 2010 for 320k I could easily sell it today for 520k or more. I want to buy a larger home outside the city as we need the space. I plan on keeping this place and renting it out. As Shap said in 20 years it will probably be worth double what it is now.

directfiesta · 07-05-2015, 04:57 AM

Quote:

Originally Posted by Bryan G

I own a home in Toronto. I bought it in 2010 for 320k I could easily sell it today for 520k or more. I want to buy a larger home outside the city as we need the space. I plan on keeping this place and renting it out. As Shap said in 20 years it will probably be worth double what it is now.

smart appoach ...

I regret selling properties in the 1990 - 1995 ... I should have rented them out ...

emmanuelle · 07-05-2015, 04:58 AM

You can buy a house in Hamilton for what your down payment in Toronto would be. My place has doubled in value in 3 years. 45 minute drive from downtown Toronto (off peak)

ravo · 07-05-2015, 05:41 AM

Quote:

Originally Posted by jay23

Thinking of moving back to Toronto after 20 years in US. The average price for a home in GTA is 650K, is this a bubble ? or is the price going keep going because of more and more Asians buying.

Jay

I'll echo what most people said here - likely a good idea to buy for the long term.

We moved from Muskoka to Toronto 4 years ago, because we wanted to be back in a big city, so it was a lifestyle decision for us. We swapped (from a money standpoint) a huge lakeside house for a decent sized condo right downtown. We have zero regrets.

I guess you have to ask yourself: Why are you considering moving?

SilentKnight · 07-05-2015, 06:33 AM

Quote:

Originally Posted by emmanuelle

You can buy a house in Hamilton for what your down payment in Toronto would be. My place has doubled in value in 3 years. 45 minute drive from downtown Toronto (off peak)

Plus you get all that nice Stelco and Defasco aroma.

But...Ti-Cats are my team - so I can't dis The Hammer too much.

(love the shopping cart caravans on Barton St.)

Relic · 07-05-2015, 10:51 AM

Quote:

Originally Posted by SilentKnight

Plus you get all that nice Stelco and Defasco aroma.

But...Ti-Cats are my team - so I can't dis The Hammer too much.

(love the shopping cart caravans on Barton St.)

My cousin plays for the Ti-Cats

emmanuelle · 07-05-2015, 11:51 AM

Quote:

Originally Posted by SilentKnight

Plus you get all that nice Stelco and Defasco aroma.

But...Ti-Cats are my team - so I can't dis The Hammer too much.

(love the shopping cart caravans on Barton St.)

Hamilton is over 500,000 people and so much more than Barton St and closed-down steel plants. Regardless, industry pays plenty of municipal tax, keeping my annual property taxes lower than a renter's monthly payment. It has pockets of good and bad, but lower Hamilton is appreciating like crazy, with nearly every listing ending up in a bidding war, and sold in a few days. Like I said, my place has doubled in value in 3 years. I like equity.

SekobA · 07-05-2015, 12:01 PM

Its clever move to buy house i Toronto

mineistaken · 07-05-2015, 12:32 PM

Quote:

Originally Posted by SilentKnight

.got out just before the worst of the Asian invasion.

Who is Canadian Tony Blair? Aka Canadian traitor responsible for this?

jay23 · 07-06-2015, 05:56 AM

Quote:

Originally Posted by SilentKnight

Lived in Scarborough through the 80s...got out just before the worst of the Asian invasion.

You couldn't pay me enough to move back to Toronna. Traffic is a nightmare (Asians can't drive worth shit)...house prices are ridiculous. I've heard the average house price is closer to $1mil.

What's luring you back to Toronto?

I wanted to buy one for my mom as she is getting old and she is Asian so she want to move back to Scarborough from US, but after spending a week in Toronto I have decided not to buy one now. I think the market is in for a correction. Will wait and see

Jay

SilentKnight · 07-06-2015, 04:13 PM

Quote:

Originally Posted by jay23

I think the market is in for a correction. Will wait and see

I suspect you may be right - the realty bubble has got to burst at some point.

We were lucky at the time we sold and got out - we bought low and sold for a very good profit in the late 80s.

A lot of Torontonians are looking at the Niagara region these days. Market values are very low and yet close enough to still commute to Toronto each day. If I was younger and could still tolerate the commute...that's what I'd be doing.

JFK · 07-06-2015, 04:20 PM

Quote:

Originally Posted by Bryan G

I own a home in Toronto. I bought it in 2010 for 320k I could easily sell it today for 520k or more. I want to buy a larger home outside the city as we need the space. I plan on keeping this place and renting it out. As Shap said in 20 years it will probably be worth double what it is now.

I will double in less than 20 yrs

mineistaken · 07-06-2015, 04:29 PM

Quote:

Originally Posted by JFK

I will double in less than 20 yrs

Included inflation?

People usually compare prices like that without inflation in mind. Since inflation varies year by year, country by country, you do not get the actual increase numbers.

Kenny B! · 07-06-2015, 04:33 PM

Actually the average detached home in Toronto is just over a million according to the star.

Quote:

Originally Posted by emmanuelle

You can buy a house in Hamilton for what your down payment in Toronto would be. My place has doubled in value in 3 years. 45 minute drive from downtown Toronto (off peak)

I miss you

emmanuelle · 07-06-2015, 05:14 PM

Quote:

I miss you

Aw Kenny... <3

I'll add you to skype

Nicholas FirstMobileCash · 07-10-2015, 02:30 AM

Quote:

Originally Posted by emmanuelle

You can buy a house in Hamilton for what your down payment in Toronto would be. My place has doubled in value in 3 years. 45 minute drive from downtown Toronto (off peak)

45 minutes without traffic right?

Aside from the steel stink, I liked the few times I was in Hamilton. Is the fox and feather still open? They had the best wings...

07-04-2015, 01:56 PM	#1
jay23 Confirmed User Join Date: Jun 2003 Posts: 1,444	Should I buy a house in Toronto now ? Thinking of moving back to Toronto after 20 years in US. The average price for a home in GTA is 650K, is this a bubble ? or is the price going keep going because of more and more Asians buying. Jay

07-05-2015, 04:52 AM	#5
Bryan G Confirmed User Join Date: Aug 2005 Location: Toronto Posts: 8,338	I own a home in Toronto. I bought it in 2010 for 320k I could easily sell it today for 520k or more. I want to buy a larger home outside the city as we need the space. I plan on keeping this place and renting it out. As Shap said in 20 years it will probably be worth double what it is now. __________________ Bryan skype: bryan.glass3 \| ICQ 302999591

07-05-2015, 12:01 PM	#12
SekobA Too lazy to set a custom title Industry Role: Join Date: Oct 2008 Location: 567721649 Posts: 12,157	Its clever move to buy house i Toronto __________________ Best Affiliate Program Available Start Promoting 25% REV-SHARE

07-04-2015, 02:40 PM	#2
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	Lived in Scarborough through the 80s...got out just before the worst of the Asian invasion. You couldn't pay me enough to move back to Toronna. Traffic is a nightmare (Asians can't drive worth shit)...house prices are ridiculous. I've heard the average house price is closer to $1mil. What's luring you back to Toronto?

07-05-2015, 03:22 AM	#3
incredibleworkethic Confirmed User Industry Role: Join Date: Sep 2009 Posts: 2,302	I used to live about an hour from there in a smaller city, but still a busy one. I've since moved further from Toronto lol. A house I'm in now is huge and costs me fuck all and I'm surrounded by people I like with a decent yard.

07-05-2015, 04:58 AM	#7
emmanuelle Confirmed User Join Date: Mar 2003 Location: Oh Canada! Posts: 3,662	You can buy a house in Hamilton for what your down payment in Toronto would be. My place has doubled in value in 3 years. 45 minute drive from downtown Toronto (off peak)