Quote:
Originally posted by love_n_peace
San_hugo: You are right. Properties will make man richer. I tried to buy a Land in canada before but Bank dont give loan to buy a land or asks 50% down payment.
IF it is not going to be your primary residence, then you can go for a very old , dilapidated house in suburbs with lot of land around it. You will get mortgage for it , once you are done with mortgage in whatever dogs years e.g, 25, you can plan to flatten the house and sell land in pieces ofcourse keeping the zoning laws.
Once I saw a 30 yrs old poorly maintained home in markham with a huge (half of soccer field with few big trees) backyard being sold by an old lady for 500k. The land area was 3-4 times the land of a normal 700k new home otherwise, Hope you know what I am saying.
reading the posts on this thread, what comes to mind is how money seems to be the only leveler ..what a sad story.
..nicely captured in the interactions between Katrina and Hritik's characters in Zindagi Na Milegi dobara
whatever makes one feel good about onself i think...500 K to some while 5000 K to another while 50 K to yet another
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Bombay State of mind
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Location: Western Hemisphere
Posted on: 12-05-12 17:54:27
Quote:
Originally posted by san-hugo
second, build expertise and aptitude for work which will not be strenous in old age, like writing, blogging , doing taxes, insurance or like something you can work from your couch. 100s of options here.
This is something I am starting to get some groundwork done on. I have identified the top 2 passions of mine and trying to see what that can turn into.
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Dimple2001
One thing to factor in is the property tax u would pay too..
Usually it works to between 1 to 2% of property value.. Over years it will add up.
Quote:
Originally posted by san-hugo
Quote:
Originally posted by love_n_peace
San_hugo: You are right. Properties will make man richer. I tried to buy a Land in canada before but Bank dont give loan to buy a land or asks 50% down payment.
IF it is not going to be your primary residence, then you can go for a very old , dilapidated house in suburbs with lot of land around it. You will get mortgage for it , once you are done with mortgage in whatever dogs years e.g, 25, you can plan to flatten the house and sell land in pieces ofcourse keeping the zoning laws.
Once I saw a 30 yrs old poorly maintained home in markham with a huge (half of soccer field with few big trees) backyard being sold by an old lady for 500k. The land area was 3-4 times the land of a normal 700k new home otherwise, Hope you know what I am saying.
What my experience has been in India and for the little while that I have been in Canada is that property is the best means of saving. That always appreciates in the long run. Saving cash in bank may not be the cup of tea for everyone because it requires extreme discipline. This is also the advice that was given to me when I landed in Canada.
I worked in middle east for 10 years and able to save $200k , which for retirement life in india or canada . For last 1 year i am in canada and could manage to save 10k . First thing in canada I did is to buy nice 2 bed room condo so that I can save some money in terms of principal payment . Although initial steelement cost was high now I am planning to save $3500 every month and would work this far location from toronto for atleast 5 years so that I can buy nice condo in toronto without bank loan and start new life in toronto even with less salary . I dont believe in buying land or property for investment purpose . For me keeping NRE FD @ 9% in india is best investment.
HEALTH IS WEALTH : Sure I earned it in canada or you can say I regain it in canada which I lost while working in middle east .
Quote:
Originally posted by ashedfc
This is a very confidential question...
& very personal to almost all of us..
& I suggest, the replies you receive will be very vague & unclear..
Its very difficult to quantify savings.
As positive savings/gain (or negative savings/loss) can be in the form of health/ wealth/ kids/ assets/ etc..
For example: some has made money but lost health; some have made money but their kids couldn't get into their desired/expected destination; some haven't even made money and lost everything..
although many of us on CD are successful..
Finally, I would say:
Save your health "its the most important thing you have", wealth will follow..
I dont understand why this is confidential question while your own id in cd itself hide your identity . In canada there is no chance to keep black money so why to hide ?
