fibbi

There are some older houses (30-40yrs old) in richmond still selling for 400-500K. And Around 2000 sq ft.
But with 100K annual income, probably about $5000/month to take home after tax.
I would feel comfortable if put $2500-$2800/month for mortgage. And of course...use up some saved RRSP for first time home buyer...then I think should be able to manage to get a house.
Is house price expensive? Yes...but it won't make me leaving Vancouver lor...
If move to US, medical expense could be huge. And Vancouver people generally are more friendly...
And most important for me, I can still enjoy very close HK living style here...lots of good Chinese food...

Ultraman

Some people including realtors say the house price keep increasing abnormally because of the up coming winter Olympics. Price should/would drop down to normal eventually. Since house price is like a seasonal up and down, I definitely won't consider a move all because of this. How if you move to Seattle and the house price goes up later but on the other hand house price goes down in Vancouver?! You move again and again? If you can't afford to buy a house (or a "home") here for the time being, I don't see renting is not an option lor!

shutterbug

Do a search on mls.ca la...you can hardly HARDLY find a house that's 500K or under and ONLY 30-40 yrs old!!!

The search came out with 7 listings, one of them is a "floating house", one is a 7xx sq ft 54 yrs old house, two are 99 yrs old 1500 sq ft houses, one is 95x sq ft 65 yrs old, one is OK 1600 sq ft  25 yrs old, last one is OK as well 1700 sq ft 45 yrs old.  According to your requirements, you can either live in the floating house, or the 7xx sq ft house, or your last choice but best looking one, which is the 1600 sq ft 25 yrs old house.  So for an average person, you only have one choice!

$2800 for mortgage alone and only with 5k per month take home is pretty crazy...in addition to mortgage, there are tons of bills you need to pay...prop tax, hydro, gas, repair/maint, insurance, phone, internet, etc...those can easily add up close to 1k for a small place.  So each month you're only left with 1200 bucks!  Great!  If you own a car (not lease or finance), then add approx $500 per month for insurance, gas, depreciation, repairs...and you're left with 700 bucks!  Minus all the cost of living like food, clothing, entertainment, etc...you could be in debt!!!  And don't forget you're in a very high salary range amongst the entire population in Vancouver

like choit said, people in US are wealthier than we are even with the high cost of health care because most companies provide health insurance.  200/month for insurance with extend health care is a good deal!  I pay almost that amount too here with my company benefits but I make less than people in the US and cost of living is much higher!

whitecho

I don't know that was a stupid move or dump move. I moved down from Calgary couple years ago. Honestly, the quality of life in Vancouver cannot compare with Calgary. But I really can't afford the house.

Maybe I should go to some crazy places, like Iraq or something like that, to work for few years. Come back and put a big down payment on the table and buy a decent house.

Sigh...The best place on the earth.

shutterbug

I had a collegue who worked in Iraq/Iran doing military stuff before.  He was from TW and he worked there as an engineer for a few years...he said it's not worth it because he has to "wear grass" from time to time because the enemies would track you down!  So, no free lunch la...

utopia

ai... you guys sounds like the argument in my head haha... I've been debating with myself that rather I should stay in Vancouver or not with all the reasons you guys provide too.....

I thought about renting a place too, is it really an option too? Given renting is not cheap in Vancouver either.... renting a house probably 2000+? That's enough to pay mortgage....

ai... I wish it's only me and caveman, so we don't have to struggle... because we can easily buy a one bedroom apartment or even a studio.....

argh~~ Everything will be easier if his mom is willing to go back China to live since they have two property in China; she can simply live in one of the  apartment and rent out the other~~~!~!!~

ai.......................

Alcoholic

Twin,
my hubby's mom's house is like 2000ish sq ft, 20 years old in richmond. the market price for that is 600ishK   that's why i suggested you to take a look at new smaller town houses, rather than thinking to buy a mid size house that's super old~

but with the amount of $ that us small potatoes are making, maybe it's better off for you & caveman to just rent a place to live with his mom... and save up for down payment for a few years sin lor.

besides, we both know that caveman's mom is already giving you guys pressure about living with you guys, i don't think it's a wise idea to get her hopes up about buying a home... she might expect something which might add to more pressure on you guys.

maybe consider taking it slowly for now... at least save up $ to get married sin lor. then save up for a house. then save up for a BABY

and about the relocation...
first of all, it costs alot to move to the states or back to hk. so it'll just add to your burden. i don't know about the states, but moving back to hk? are you sh!tting me?!?! you sure you want to work 6 days a week, OT everyday?! and places in hk are just as expensive, but at LEAST 1/2 the size for the same price here! now how is caveman's mom gonna live with you guys then?! it will probably drive you nuts! food can be cheaper, but transportation ain't that much cheaper. plus, you'll spend LOADS of $ on all the convenient clothes & makeup that you see everyday. besides, like what we discussed yesterday... we don't really need to dress up for work here. but in HK?! you probably need a new wardrobe every season, AND worse of all: DEAL WITH UNLIMITED BITCHES

stay here la.... for ME!!! wahahaha

[ 本帖最後由 Alcoholic 於 2008-5-16 08:51 編輯 ]

kaimui22

are you sure his mom is going to stay in Vancouver PERMANENTLY? Or just temporary? Because if she is just staying temporary..might not be a bad idea to just rent a place or get a 2 or 3 bedroom townhouse. Maybe she's just here to wait for you guys to settle and get married? Once you guys are settled, she might just go back to China and let you guys have 二人世界.

I don't think it's a good idea to buy a big house (2000+ sq) right now because what if you guys move in, get married and then she gets bored of vancouver and decides to move back to China in 2 or 3 years? Is it worth putting yourself thru so much stress and such a high mortgage if she isn't gonna be here to live in the space?

Also...has your Caveman discussed the situation with his mom? Maybe she is willing to contribute a bit if you guys are getting a bigger place for her? Also try to make sure from her if she is definitely sure she will stay in vancouver for a long time..otherwise, it's no use getting such a big place for her and then have her leave.

utopia

LOL, Twin, you are hilarious~~~

I just passed by and you have a very serious face LOL... and now I understand where that serious face come from ~~~~ hahaha putting a serious face and type this reply for me ~~~ haahhahahaha

Anyways, hey, you really read my mind. I was searching townhouses on mls this morning.

Perhaps, a townhouse might be an option... but most townhouse within my range in Burnaby is all about 800 - 970 sq ft. Now now now, twin, I start to think my home actually big ~~

The more I think about it, the more I really want his mom just move back to China... put aside the housing problem... but also her personality...

Just like yesterday, I told caveman... if we are in China or the states, that guy would have just come and beat us up....

We went out for dinner last night and his mom comment so loud that the kid next table is so loud and cry every 3 second....and I saw the dad was staring at her.. (and obviously, he either looks like from China country side or gangster looking).....
Then, his mom talk so publicly ...and asked the waitress did the hostess hook up with the owner.. I mean, WTF, you are gossiping in the restaurant and gossiping with the restaurant's waitress??? and the waitress already try to avoid the topic..and she just won't let go.... I just hope the waitress will be ok because she was "forced" to comment by caveman's mom....while her co-workers was around......

I just want to "puke blood" last night.......

utopia

原帖由 kaimui22 於 2008-5-16 08:59 發表
are you sure his mom is going to stay in Vancouver PERMANENTLY? Or just temporary? Because if she is just staying temporary..might not be a bad idea to just rent a place or get a 2 or 3 bedroom townho ...

ai... kaimui, we both wish his mom will stay temporary, and most likely, 99% his mom will STICK WITH US no matter what........ai......

His mom is single parent but with very very problematic personality....

(a recent example is I put a comb at his washroom so I can use my own...it's a very crappy one that I used since high school. I didn't know she was using my comb every single time now until caveman told me to bring it home because his mom keep using it without washing it.. ... and it's not like his mom dun has her own, in fact, her is way better than my old crappy one....AND when caveman ask her why she is using mine... she INSISTS, that's HER comb not mine......and when caveman keep telling her why can't she use her own, then she claim she has a similar one in her house.....Little things like that lor, she won't admit she did something wrong and switch the blame on others or directly said it's others fault......)

Her mom swear on god sooooo many times in the past that she won't live with caveman after he get married for the past 10 years.... NOT UNTIL, caveman intentionally live with me for 3 months while my parents were gone to HK... she started to feel the loneness...and start from hinting to live with us.....to a point that caveman can't stand anymore and ask her directly.... and she said she wants to stay with him........ Before we clarify that..., her mom's behavior and personality changed dramatically, that we thought we can possibly live with her..... but sadly, after the confirmation from us, she.......just .... switch back her own personality and..perhaps, worse....?