chopstick

I just looked at a house in Oshawa.
It's a century home, but updated and looks beautiful.
3 Rooms, 1 nice bathroom, 1 living room that could be split into small living room with an office on the end and a good size kitchen with table. Basement is nothing more than storage. Laundry room off-kitchen. High ceilings with chandeliers.

$1000 + utilities

Thoughts?

DirkG

What is the purpose of renting a house in Grand Theft Auto?

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payd2purv

Why would you live in Oshawa?

What do you mean thoughts? $1000 is very inexpensive.

No pictures or anything.. *shrug*

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DBS.US

Forget rent, it's time to buy

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Quotealex

Not in Canada, Prices of houses hasn't taken a dive like some other country

rowan

Possibly stupid question

Is that $1000 per week or per calendar month?

DefaultMan

That's what I thought!

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Jim_Gunn

GTA= Greater Toronto Area

marketsmart

not yet....

evildick

For $1000 a month why not buy? Are houses really expensive in that area?

Kard63

my thoughts exactly

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fallenmuffin

$1,000/mo is mortgage not rent lol

Shap

I don't think Oshawa is GTA.

opulence

I didn't think so either...

chopstick

I thought that by writing GTA I would get the attention of the Canadians in the area.
Oshawa is NOT in the GTA, but those who know that term would funnel through and understand.

I am renting because I do not have good enough credit yet to buy. I need to build up my score some more first.

Socks

Not going to find a full house to rent in toronto less than $2500 or so

potter

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Linguist

Real estate is fucking nuts in Toronto right now. I've been waiting for it to take a dip and it doesn't. Just keeps on growing. $1000 is cheap. In immediate Toronto area that would get you a shitty one bedroom apartment. A decent one bedroom goes for $1200-$1500/mo right now.

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ModelShrines

That sounds reasonable. It all depends on whether you need to commute into TO everyday. You can save money on rent in the suburbs and spend it on transportation.

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qwe

why would they... Canadian economy is strong and they don't have to spend billions on a worthless war, i don't see prices going down, and if they do it won't be much...

stev0

Why Oshawa? Unless you already know people there I guess. A buddy of mine grew up in Oshawa, apparently it's a bit of a shit hole.

WiredGuy

I'd check around MLS and see how much a comparable house would cost to buy, I bet it wouldn't be that much more. And as people have said, real estate is going up up up so its a good idea to buy while its going up instead of renting.
WG

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Socks

Totally debatable.. Unless you have a real nice chunk for down payment, like 20%+, you're most likely ass fucking yourself. You hear about people who've "made" a bunch of money on their homes.. But of course, the ones who haven't made money don't open their mouths very much about it

Property tax - $3,000+ a year nowadays
Utilties - couple hundred a month
Upkeep/maintanence - few thousand a year
Home owners insurance
Lenders premium for lack of huge down payment
Mortgage!
and you can't write off the interest on the mortgage in Canada!!

Then add to that you don't buy a house and not get stuff for it.. Walls need to be filled, floors need space taken, the girlfriend/wife wants a new X, and XX, and hopefully you get her the expensive XXX so you can get some XXX. Then guess what, you're the new handyman. If you don't want to, or can't.. Guess what.. People cost hundreds of dollars to come fix stuff for you.

I mean let's say you have CASH to BUY a home.

$300,000 is a fairly cheapish house here now.. So you have $300k, you throw it at a house.

You were making probably 5% on your money in this shit market, so now you're giving up $15,000 a year in interest. If the world ever gets back to normal, could be $30,000 a year.

On a normal apartment with utilities included, you're paying like $1000-1500 a month

Even at a lowly $15k, you can pay your rent on the interest, and not pay property tax, not pay utils, and not fix it up. If something breaks, you complain and it gets fixed.

So that's the story if you can BUY the house outright, with CASH..

If you're mortgaging, you end up spending roughly 3x the value of the house.. So in this case $900,000 over the course of the mortgage. Most people end up screwing up, and never paying it off.. They get SECOND mortgages, and just "live with the debt"

Plus homes are crazy expensive right now. If you looked at the $300,000 in cash on a table, and then looked at the house you're trading it for, you would NEVER make the deal.

Also when you hear people "made" money with their house.. If houses have appreciated a lot since they bought, guess what.. When you sell your house - you gotta move to a new one, and they've all gone up in price too!!!! Nobody makes a profit and moves into a smaller house.

The truth is, homeowners hate to see you renting with a bank account full of cash. They wish you were in the same shitty boat as they are.

WiredGuy

Thanks, I move into my first house in 2 months and I pretty much did just that, lol.
WG

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Socks

lolz, well I'm certainly no expert.. But I know that the difference between renting and buying is so close that people will always debate it. The finance guys always keep it in check too, because if buying houses was a steal, they'd all be in that business! So either way, the end result is that if you're financially responsible, you'll do fine. It's just people totally get swept up into making money with their house, when they're nowhere near an expert on the matter. If you're gonna be there for a long time and can afford it, then by all means, it'll probably work out a lot better long term.

I just love the fact that I can walk away on a months notice and do whatever I want.

chopstick

I believe if you have cash to unload it would be better to buy some land, hire contractors to build up a house the way you like it for considerably less than the purchase of someone else's used up house. My brother-in-law has a piece of land and the cost to build 2 houses on it that would be worth about 2 - 300k was in the 5 digit range. But, that's already having the land.

Socks, you make some good arguments. Never looked at it like that. The house I am in now we own and with the low mortgage payment comes the eternity of paying it off. Savings interest is so low and borrowing interest is so high it is obviously a legalized mafia scam running. The banks invent the currency that creates the inflation and drives the prices up and keeps the incomes the same. It's horrible.

chopstick

Oshawa is the anus of Ontario. Punk-ass kids trying to be like thugs from rap videos. Little girls trying to win their attention by slutting themselves out. The GM truck plant closing soon. Racist rednecks.

I am here because the mother of my kids owns a house here, and I am not going to make sharing the kids harder.

minniesoporno

i live downtown toronto, in a junior one bedroom 735.15 plus hydro. the building is nice, there is not much crack heads and homeless people around i actually live in the area where kids play in the street and run for the ice cream truck.

for oshawa and that size your getting a steal.

TyroneGoldberg

I was thinking typo and he was thinking about renting GTA rather than buying it.

Brad

The only way a renter will ever come out on top in this debate is if that renter is an aggressive saver.

Check this article out:
http://finance.sympatico.msn.ca/reti...mentid=5022821

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SayWhut

The houses in Liberty City must be expensive these days .... what with all that publicity ....

Platinum Red

I am currenly renting a 2 bedroom in the GTA and paying 1000 all inclusive.

I am on the end of a deadend street and it is an awsome place to be we are loving it. When you talk renting houses you are looking at alot of money for your utilities. I know people that are paying $500/ month for gas/oil, and $200/month for hydro, in some places they also charge you for water.

So while $1000 is a good price for a house, what is the monthly cost on your utilities?

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Quagmire

The Greater Toronto Area (locally abbreviated as the GTA) is the most populous metropolitan area in Canada. The GTA is a provincial planning area with a population of 5,555,912 at the 2006 Canadian Census.[1] The Toronto Census Metropolitan Area defined by Statistics Canada is 17% smaller in land area than the GTA planning area and had a population of 5,113,149 in the same 2006 census, this difference is primarily due to the inclusion of the Oshawa-Whitby CMA and the city of Burlington into the GTA, but which are not included with the Toronto CMA. [2]

The Greater Toronto Area is the 7th largest metropolitan area in North America. In addition to the City of Toronto, it includes the Regional Municipalities of York, Halton, Peel and Durham. The term GTA only came into usage in the mid-1990s after it was used in a widely discussed report on municipal governance restructuring in the region.

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ChargebackJoe

lots of hot girls in Oshawa

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