Bought myself a condo and put myself In a questionable financial situation

[HateLiberals]

A Buick, are you a Canadian jogger?

[digital022]

How dafuq is 50% of your take home going into the condo then?

You work at McDonald's?

Not everyone inherits properties or have trust funds set up. In the real world, where wages have stayed stagnant and housing has been artificially propped up, the median income aligns with what he claims. Housing is straight up unaffordable for many. Particularly for those who weren't raised with a silver spoon. But that's not anything you know about.

[blueberryboy]

You got bigger financial problems than the condo, brah.

Maybe become a tradie, even the low level ones make more than you do.

Yeah dude
Down-payment was 170k~

My dad gave me 105k ( retired but was a successful business owner )
I contributed all my savings was about 65k

It doesn't help I am in one of Canada's most economically suppressed province
It's not living in Toronto or Vancouver

People in Halifax generally spend more on housing relative to their income than anywhere else in the country

But yeah fk this job looking for a new one...all I do is misc all day anyway while working

[blueberryboy]

I mean, if you are happy with your position in life, you do you.

Keep working at McDonald's.

I don't work no McDonald's

I actually work for a federal govt dept but on some work at home desk bs

Wanna get out asap .
Was happier being a cashier ded fking srs

[HarryfromCali]

You ****ed up by buying a condo, literally paying a mortgage and getting yourself in debt for having no privacy and not having a backyard....

- brb neighbors complaining over loud noise
- brb can't have BBQ's in the backyard
- brb snoopy neighbors being annoying AF

Just LOL

[naich]

This thread is the what happens when you shame rentcels for two years on the misc. Some of them buy property, well a room or two inside someone elses property, when its totally inappropriate.

Please make a budget and figure out what "finacial crisis" you'll be facing in the near future and act now to avoid it. The time of "IDK, my dad did all the talking and reading" ended at 18 boyo, stop signing things until you understand them.

[desslok]

This thread is the what happens when you shame rentcels for two years on the misc. Some of them buy property, well a room or two inside someone elses property, when its totally inappropriate.

But the good news is he will be a rentcel again soon.

[blueberryboy]

You ****ed up by buying a condo, literally paying a mortgage and getting yourself in debt for having no privacy and not having a backyard....

- brb neighbors complaining over loud noise
- brb can't have BBQ's in the backyard
- brb snoopy neighbors being annoying AF

Just LOL

The problem was I could not afford a single detached home in this area
I paid 310k for this condo
A decent single detached in this same area is gonna go for 600-700k plus

But yeah

Clearly a house is better

Which is why I stay at my parents house every chance I get when they go away

[DesiredUserphag]

Enjoy feeling poor for the rest of your life boyo

[blueberryboy]

This thread is the what happens when you shame rentcels for two years on the misc. Some of them buy property, well a room or two inside someone elses property, when its totally inappropriate.

Please make a budget and figure out what "finacial crisis" you'll be facing in the near future and act now to avoid it. The time of "IDK, my dad did all the talking and reading" ended at 18 boyo, stop signing things until you understand them.

Also to rent this apartment would cost me min 1500 and have like 10 other ppl try to apply

After my 6 figure down payment I pay about 1200 per month Not including utilities

So rent or buy
Either way it's gonna be difficult

But atleast this way...I got the $ my dad gave me if nothing else.

[Issobolic28]

The time of "IDK, my dad did all the talking and reading" ended at 18 boyo, stop signing things until you understand them.

Pretty much. You're an adult OP; you should have paid attention.

When i went through process of buying my condo, I did everything on my own; from contacting a realtor to signing mortgage documents . And that's how it should be.

And TD Bank does give you sh!t load of documents in a nice green folder; where the terms of the mortgage are laid out. You should have reviewed them.

[4Bertuzzi4]

Rent it out for a few years and live with Parents. Suffer now to enjoy the future, or enjoy the Present to suffer in the future.

The choice is yours, young Padawan.

[Rebel012]

This thread is the what happens when you shame rentcels for two years on the misc. Some of them buy property, well a room or two inside someone elses property, when its totally inappropriate.

Please make a budget and figure out what "finacial crisis" you'll be facing in the near future and act now to avoid it. The time of "IDK, my dad did all the talking and reading" ended at 18 boyo, stop signing things until you understand them.

This, lol. Lmao @ buying a condo in an inflated market with adjustable rates.

I'd rather invest my cash, move from a nice city to another in my line of work, and live off dividends and interest. The fact that anyone would do something this serious because of shaming from a bunch of comedians on a forum...

[Issobolic28]

OK beaverboomer.

I am sure what I went through isn't special; I am sure tons of people go through the home buying process on their own.

[blueberryboy]

Pretty much. You're an adult OP; you should have paid attention.

When i went through process of buying my condo, I did everything on my own; from contacting a realtor to signing mortgage documents . And that's how it should be.

And TD Bank does give you sh!t load of documents in a nice green folder; where the terms of the mortgage are laid out. You should have reviewed them.

I have the folder bro
How much is your condo fee?

It was actually a private sale that never hit the market. My dad knew the owner of the condo ( he owned several In the same building and was a realtor himself)

I paid 310k

There is currently 2 condos for sale in the same building same lay out

-329k ( hasn't sold in a month )

And one just hit the market I beleive 340k ( but it's more luxurious than mine in side )

Real estate is not hot rn my ex is trying to sell her home and move and she just took 15k off the price

[outfoxxed]

I am sure what I went through isn't special; I am sure tons of people go through the home buying process on their own.

You get a Brampton mortgage bruh

[Issobolic28]

How much is your condo fee?

It 409; which is manageable for me.

You get a Brampton mortgage bruh

No lol.

[CulturalDecay]

Solution: Stop being poor.

You are lazy and a loser, I'm sure your father is ashamed of you. How on earth can you struggle to make a $1,300/month mortgage payment? If you can't pay that....how would you even afford to rent?

Get your ass in the gym, prep all your meals, live a hardcore minimalist lifestyle, and make more money....drive Uber if you have to...FFS it's 2022.

[jakobi]

Stay at your parents and rent your place for 2 years

[TrynaBeast]

Solution: Stop being poor.

You are lazy and a loser, I'm sure your father is ashamed of you. How on earth can you struggle to make a $1,300/month mortgage payment? If you can't pay that....how would you even afford to rent?

Get your ass in the gym, prep all your meals, live a hardcore minimalist lifestyle, and make more money....drive Uber if you have to...FFS it's 2022.

This. As Dave Ramsey says OP, you shouldn't see the inside of a restaurant unless it's your second job

[Arem24]

- bought a condo in September
- put down my entire life savings

- half my current take home pay goes to the mortgage, and condo fee and property tax.

- have next to nothing in the bank

- need to get stacking and saving all I can for security

- looking for a new job

- car is paid off (2014 Buick) and will last a few more years if I need it to

Fuaaaarkkklk

Never go mortgage poor.