Listing/selling house Privately via For Sale By Owner(MLS) - Questions
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Posted on: 10-07-15 12:17:49
That's the plan, BP.
Quote:
Originally posted by febpreet
So, I don't think I have anything to lose right now.
You never lost anything FP or never will as long as you don't gamble or lose things knowingly.
If say a student comes now to study , he will be paying today's fees , if he came 20 years back , he would have paid that time's fee .... Profit or loss is just a matter of perception.
We eat when we are hungry even if we have to pay more for it that time .. We should not eat before or after when the appetite is not there...
Don't overburden yourself - as long as you have a job , career ,family / kid/s and they are good ... you don't gain or loose much from other things ... my personal opinion ...
When we do not know whether real estate will go up or down tomorrow why should we repent on our today's decisions tomorrow ... You did not know that some development would take place around your town house before ... so why are you worried about something which was never in your control ??
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Fido.
No, I am not worried. I am happy that I got to enjoy in my own spacious home without the troublemaker landlord. I am very happy that my son got to run around the house, without a stranger, neighbor, or landlord being bothered upstairs or downstairs.
So, all in all - I am happy that my townhouse got sold, finally. The burden is off. The times were different when I took the decision 8 years ago, and now it's different. The intentions were/are good - so I haven't lost anything. I admitted that I am not a savvy investor, and contented with whatever traits (or the lack of it) I have.
Spirits are high (inflammable) as ever 
.
The property is now sold at a loss. But, I am ok, as I was finally able to get rid of it. Now, the challenge is to find a decent detached in a decent neighborhood. With nothing costs less than $650, that too with multiple offers, I am afraid I would have to stretch again. I can't wait either as the prices are going up with each passing day. The houses that were about $625 last month are now selling for close to $660-670. My last offer of $700 was toppled by another and higher one. I am actually happy that it didn't materialized.
A true challenge, and a pretty exhausting time if you ask me.
Conclusion: Never buy a townhouse or Condo, unless you can legally rent it out.
Why didn't you just continue to stay, where you are/were ? Unless the commute from the job was too far or you had to move for your job.
Did you sell bcoz, you couldn't legally rent out your existing property ?
Quote:
Originally posted by febpreet
The property is now sold at a loss. But, I am ok, as I was finally able to get rid of it. Now, the challenge is to find a decent detached in a decent neighborhood. With nothing costs less than $650, that too with multiple offers, I am afraid I would have to stretch again. I can't wait either as the prices are going up with each passing day. The houses that were about $625 last month are now selling for close to $660-670. My last offer of $700 was toppled by another and higher one. I am actually happy that it didn't materialized.
A true challenge, and a pretty exhausting time if you ask me.
Conclusion: Never buy a townhouse or Condo, unless you can legally rent it out.
I sold because year after year, the value of my property remained the same, rather went down. Eventually, I would have to upgrade, so thought to myself - why not now, when I can still go for 25 yr. mortgage and the rates are down. Every year, the price of the detached house has been going up, and if I wait more by staying in my existing townhouse, the problem would be multiplied further - price of the townhouse will remain the same or goes down but the detached house will cost more. So, I would have to incur loss while selling and then buying. Family is growing as well. A simple rationale.
Another reason, due to the Strata by-laws I am not allowed to rent my townhouse. I would've done that instead and otherwise.
Febpreet: Congratulations on your house sale. At the same time, it feels sad when there are many memories attached to the house. I get emotional whenever we drive by our old condo. But then nothing is permanent.
I have the same question as AdamThorat.
why sell the house since you purchased it at high and you are selling it at low in a high market?
1) Option1: Right now, your best bet is to rent a house in Vancouver and wait until the crash happens. The money you earned from the sale will be useful then.
2) Option 2: Move away to cheaper areas where your money gives you something better.
3) Option 3: Move to GTA..Rent.....Wait..buy house when crash happens.
