Fess up

Is the government thinking about taxing houses? Of course it is. Just makes sense. Residential real estate’s the biggest pool of personal wealth in the nation. Most gains are claimed tax-free. And the law allowing that gift never, ever contemplated markets where prices would double every half-decade. Or where rental suites would be come ubiquitous. Or where people could do diddly and make a million. Or where the majority of new high-rise units are bought by amateur flippers, speckers or landlords. Or where mortgages cost hardly more than inflation and money flowed like hormones.

But here we are. The amount of wealth transferred from liquid assets into land is epic. So is the debt attached. And a spendy government has a jealous eye on all that windfall, unearned, undeserved, untaxed equity.

An eventual house tax could be facilitated by the principal residence exemption being introduced to this year’s tax return (see yesterday’s hyperventilated post). It could come as a withholding tax on the sale of a property, refunded if you qualify. It could materialize through enforcement of existing rules by the CRA – cracking down on illegal suites, for example. Or simply by including a portion of house profits in capital gains calcs.

In  Vancouver these days the best estimate is that 45% of all detached houses have suites. Could be higher. And odds are a great number of owners collect rent but fail to declare it as taxable income. After all, having a tenant doesn’t increase costs too much, yet every dollar in net rental income must be added to your earned income and taxed at your marginal rate. Ouch. How is a poor working family supposed to pay their $1.3 million mortgage?

Anyway, stats on home ownership are sketchy when compared to who has what in an RRSP or TFSA, for example. That’s why the data search has begun. It’s the rationale for the PRE form in your tax return from now on. People who flip, assign or rent houses may be future targets of a hungry, deficit-soaked bureaucracy.

So in the spirit of unvarnished disclosure always prevalent on this pathetic blog, let’s do our bit and fully disclose our personal real estate holdings to Wild Bill & his boss, Justin. It will be interesting to know how many of those who come here are mansion-owning 1%ers, who are the property-flipping moguls and how many are pale, squinty-eyed, moldy basement dwellers. What percentage of your net worth is in real estate? Or have you been frozen on the outside, looking in at a market you’ll never afford? Are you part of the hated rentier set? Do you declare all rental income?

Our last survey of readership revealed that most people here are billionaires with seven-figure incomes who just come for the dog pictures. And visitor stats continue to reveal only about 1% of those hanging around ever leave a comment, mostly from the deplorable classes.

So let’s hear from the rest of you. What do you own?

“There was an income/wealth survey here last year that had an overwhelming rate of participation,” says a familiar voice from the steerage section. “Perhaps a real estate survey would get the braggarts to respond in droves too, with questions such as:

  •  how many houses do you own, followed by these questions…
  • year of purchase and price
  • % down
  • age of house at that time
  • your age at that time
  • amount owing or number of years it took to pay off
  •  number of years owned
  • value today
  • % of your net worth in house equity

“Results of which would show just how house horny we / or Garth’s investment class groupies are, and what happens when an asset tax arrives.”

Please note that all results and revelations will be held in the strictest confidence. Bill promised.

451 comments ↓

#1 AJM on 02.14.17 at 4:19 pm

First time poster:

Sold our condo in North Vancouver in Summer 2016. Happily renting / investing for the foreseeable future.

#2 TilJ on 02.14.17 at 4:22 pm

Own no real estate directly, we rent our principal residence.

After taking into account transaction costs, we’ve lost an average of $40k per place when selling the last 3 pieces of real estate we’ve owned. That would’ve paid a lot of rent.

About 5.6% of portfolio is in REITs, which is possibly a bit high and will be looked at when the next re-balancing time comes around.

#3 James on 02.14.17 at 4:25 pm

It will be Trudeau’s downfall. His last hurrah. I am not filling any dam form. Where the hell is that Smoking dude? Isn’t he selling his home this year? Does he have to go to the main lobby and pay for his one hour of WiFi?

#4 Braggart1 on 02.14.17 at 4:28 pm

Own 1 home
purchased in 2007 $900k
paid cash
11 year old house then
I was 43 at the time
nil n/a
40% of net worth

I took a modest line of credit to fund a non-registered investment account. (RRSPs and TFSAs are maxed, no other debt)

#5 Heddok on 02.14.17 at 4:29 pm

1 house on acreage
2005 $425,000
100% down
8 year old house purchased age 50
bought for cash no mortgage
owned 11 years
current assessment $735,000
23% of net worth

#6 For those about to flop... on 02.14.17 at 4:29 pm

Last year ,I worked on 4 houses on Vancouver’s Westside and 1 in Whiterock.

The only one that wasn’t worried about renting out the suites was a former NHL star.

We are talking houses ranging in price from 3 million for the one in Whiterock and 5 to 8 million for the Westside residences…

M42BC

#7 ummmm on 02.14.17 at 4:29 pm

Garth I see you posted today’s blog nice and early to ensure you fulfill your Valentines day duties :)

#8 Smoking is Cool! on 02.14.17 at 4:30 pm

Own diddly squat.

All assets in e-series mutual funds which is where I keep my equity

#9 FlyingDodo on 02.14.17 at 4:30 pm

28 year old, living in Ottawa, 55k annual salary. Don’t own any real estate, and don’t plan on buying in the foreseeable future either. Every single cent is going to TFSA (first) and then RRSP. The closest I will get to owning real estate is through the purchase of REITs, if that.

#10 Alex on 02.14.17 at 4:33 pm

first house bought at 31 for 1.1M, 60% down,
mortage erased in 3 years and a half
sold 2 years ago, made 100K after all expenses taken in account
bought another one for 1.4M, all cash at that time (38 years old)
it does represent now 35% of net worth
will never ‘upgrade’ this house so this % will diminish a lot in the next 5-10 years
do not own any other house and will never do
rent my office space

#11 callput on 02.14.17 at 4:33 pm

Margin account: net borrowing 70k
TFSA: 200k
Bullion: 110k
Cash: 6k
No house
40 yrs-young: committed bachelor
Career: part-time tax preparer and part-time speculator

#12 TurnerNation on 02.14.17 at 4:35 pm

Early post. Our forum host must have Leafs tickets tonight.

#13 Metaxa on 02.14.17 at 4:36 pm

how many houses do you own
one (now…see below)

year of purchase and price
1999, $132,000

% down
40% I think, maybe a bit less.

age of house at that time
25 years, built 1974

your age at that time
53

amount owing or number of years it took to pay off
0 owing, less than 10 to pay out mortgage

number of years owned
18

value today
$350,000+

% of your net worth in house equity
5%…who is asking?

Additionally, a partner and I owned a small string of rentals in Calgary until recently. He passed away, I sold…just before the Alberta meltdown. That is the sole reason my % of net in housing is so low…I sold a bunch at near peak. That, a few other assets, partnership insurances, etc made me a single digit guy…more than one, less than 10.

I’ve been honest here…which is why you now understand why I say life is good.

I also hold a very expensive letter of clearance from CRA, so don’t bother reporting me to anyone.

#14 Glen B on 02.14.17 at 4:39 pm

Zero right now (renting) although I would like to change that when prices normalize. I do have a piece of vacant land though which was bought and paid for decades ago.

#15 Will on 02.14.17 at 4:48 pm

how many houses do you own, followed by these questions…
1

year of purchase and price
2015, 406k

% down
20%

age of house at that time
33

your age at that time
33

amount owing or number of years it took to pay off
303k, ~15 years left to pay the mortage

number of years owned
2
value today
~420k maybe

% of your net worth in house equity
~60%

#16 Dave on 02.14.17 at 5:01 pm

how many houses do you own
one house, one studio rental condo

year of purchase and price
house: 2012, $850,000
condo: 2009, $294,000

% down
house: about 30%
condo: about 5%

age of house at that time
House: 47 years
Condo: 3 years

your age at that time
House: 33
Condo: 30

amount owing or number of years it took to pay off
House: $450,000 owing
Condo: $250,000 owing

number of years owned
House: 5 years
Condo: 8 years
value today
House: $1.3 M ish ? (Vancouver, who knows)
Condo: $425,000?

% of your net worth in house equity
70%…way too much, but can’t convince the wife to sell either…

#17 Tim on 02.14.17 at 5:03 pm

how many houses do you own = 1
year of purchase and price = 2006; $195,000
% down = 20.5%
age of house at that time =18 years
your age at that time = 28
amount owing or number of years it took to pay off = 6 years to pay off
number of years owned = 11 years
value today = $495,500
% of your net worth in house equity = 42%

#18 Corey on 02.14.17 at 5:03 pm

1 house in the middle of nowhere BC
Bought 2016 for $60000
% down = 50%
Age of house = Oh who knows, 40 years?
My age at time = 29
Amount owing = $6000
Number of years owned = 0.5
Value today = $58000
%Net worth = approx 14.5%

#19 Never you Mind on 02.14.17 at 5:05 pm

One house where my family and I live

Bought in 2006 for $174,000

5% down

Age 28 at the time

Age 39 now

5 years left on mortgage (could pay it off but…i take Garth’s advice)

Today worth $400,000 and 40% of net worth

#20 Cab on 02.14.17 at 5:06 pm

how many houses do you own -1
year of purchase and price – 1990
% down – 25
age of house at that time – 16
your age at that time – 28
amount owing or number of years it took to pay off – 17
number of years owned – 27
value today – 450k
% of your net worth in house equity – 45%

#21 Deano on 02.14.17 at 5:06 pm

how many houses do you own
1

year of purchase and price
1992, 92k

% down
20%

age of house at that time
8

your age at that time
33

amount owing or number of years it took to pay off
15 years to pay off

number of years owned
25

value today
200k

% of your net worth in house equity
9%

#22 Jeff M on 02.14.17 at 5:10 pm

how many houses do you own?

0

Status: married + baby, renting in Toronto. Ages 35, 35, 1.5.

#23 Unumizer on 02.14.17 at 5:12 pm

Calgary. Bought in 1998 for 190,000. House was 38. 35,000 down. Paid off in 8 years. Sold in Nov for 560,000. Was 36 and single when purchased. Purchased in Nov a 4 year old house for 625,000. No debt. Struggled with that decision because Garth would say bad boy! Own a US house as well so 41% of net worth is RE.

#24 waiting on the westcoast on 02.14.17 at 5:14 pm

Never owned… Still don’t. Waiting for return to median to buy farmland in Victoria region or Mrs Waiting will have me staying long term in Uruguay…

Everything in either invested in built-up businesses, angel investments or ETFs.

#25 jess on 02.14.17 at 5:16 pm

http://www.math.yorku.ca/ISR/self.htm

http://www.sciencebrainwaves.com/the-dangers-of-self-report/

Last July, instead of determining the entire tax gap, the CRA released a report saying $4.9 billion in GST and HST isn’t collected each year.

https://www.thestar.com/news/world/2017/02/13/canada-misses-out-on-nearly-50-billion-in-tax-each-year.html

#26 Bezengy on 02.14.17 at 5:19 pm

Well, unfortunately, I’ll have to evict the tenants and move in to the house myself. Too bad, they didn’t vote for T2, but who said life was fair?

#27 Blacksheep on 02.14.17 at 5:19 pm

These dudes, really appreciate your help.

https://cambridgeanalytica.org/

Garth, you need to enable some emoji action around here, so I can truly share, how I’m feeling inside, about this data mining : (

#28 Blacksheep on 02.14.17 at 5:20 pm

Do you feel like we do?

https://www.youtube.com/watch?v=V9Yq5m9eLIQ

#29 Vanrentor on 02.14.17 at 5:20 pm

Sold in July for $2.6m, Built in 2005 for $1.1m

0% of net worth in res RE. Just turned 50

Planning to buy a lot and build 1 more time before we transition to a townhouse. We will have less than 30% of net worth in principal residence.

#30 Pete from St. Cesaire on 02.14.17 at 5:21 pm

callput: Bullion 110k
—————————-
Why on earth would you announce that publicly?
And, I hope you have physical possession of it, otherwise it’s not yours and likely doesn’t even exist but on paper.

#31 R.G. L. on 02.14.17 at 5:24 pm

Wife and I own 1 home bought for 56K in 1981 when I was 30 and wife was 27. The house was about 50 years old. We put 20% down and paid the place off in 10 years. We’ve owned only this place for 36 years and it would now be worth about 500K which represents about 30% of our net worth.

#32 got out in '15 on 02.14.17 at 5:25 pm

no need to complete a form
sold all BC RE in 2015
missed the top but don’t have anything to declare!

#33 The Greater Cauliflower on 02.14.17 at 5:26 pm

how many houses do you own:
Zero

Value of TFSA:
$67,250

#34 Blacksheep on 02.14.17 at 5:28 pm

This one actually fits better:

https://www.youtube.com/watch?v=7xxgRUyzgs0

#35 25,502 empty houses... on 02.14.17 at 5:32 pm

over 25,000 empty houses in Vancouver alone

http://vancouversun.com/news/local-news/census-counts-25502-unoccupied-homes-in-vancouver-more-than-double-the-estimate-by-city-hall

add the outback to it and there are close to 40,000 empty dwellings

that seems unbelievable but SFU did the math

it should be worth an investigation who owns these properties and why are they empty?

usual suspects of investors and foreign owners?

could be that the banks are holding back inventory to keep the market stable? banks acting as market makers like the stock and commodity exchanges?

#36 Dr C on 02.14.17 at 5:34 pm

29yo, single physician. Guelph area.
Salary 350-400k/y
Net worth 220k

No houses. 0%.
I will rent until I die.

#37 John on 02.14.17 at 5:35 pm

0 homes owned thank god. Home free since 2012. 3 moves. Kids in good schools. Money in the bank. Even expensive rent is half or less of a mortgage payment. Sold on renting. You can either rent the house directly….or you can rent the money from the bank. You decide.

#38 Blacksheep on 02.14.17 at 5:35 pm

Actually, this one fits best:

https://www.youtube.com/watch?v=WvGopsM1G9g

#39 Claire on 02.14.17 at 5:38 pm

Zero real estate. $300k total invested.

#40 Keith on 02.14.17 at 5:39 pm

Properties owned – 1

2006 – 495 k

Down payment 40%

House age – 94 years

My age at the time – 44

Paid for in ten years

Lived in for ten years

Value – 1.3 million

% of net worth in real estate 72

#41 Rob on 02.14.17 at 5:40 pm

One home,
Purchashed 2 years ago for $385,000 cash
8 years old,
58 yeats old at that time,
Downsized to retire,
20% of net worth

#42 DH on 02.14.17 at 5:44 pm

one house
in 2005
for $795K + $250K in renos (yah, I know now)
25% down
55 age of house
41 our ages
paid off in 9 years
owned for 11 years
$1M current value (Calgary, that’s why!)
+/- 20% of net worth in house (YES, I worked VERY hard, missed weekends and birthdays while creating many jobs for others simultaneously!)

#43 daveyboy on 02.14.17 at 5:45 pm

1 house, bought last saturday, 218 000 usd.
20% down 180 something on the mortage.
10 year old home
33 and 29 years old
20% net worth in real estate.

#44 Prairieboy43 on 02.14.17 at 5:46 pm

how many houses do you own, followed by these questions…1
year of purchase and price- 2001, $150,000.00
% down 60%.
age of house at that time- 19 years
your age at that time-31
amount owing or number of years it took to pay off- 1 yr. number of years owned- 16
value today- $425,000.00
% of your net worth in house equity- 13%

PB43

#45 Dude in Ottawa on 02.14.17 at 5:50 pm

I own one house
bought in 2003 for $215,000
25% down to dodge the insurance
built in ’94 so 9 years old
My age was 32
paid it off in 2010, so 7 years to pay off
I’ve owned it almost 14 years
People are selling around here for 365,000

my house is about 33% of my equity (not including the wife’s money, that would put us more like 25%)

That being said… we are pretty house horny for the upgrade… we just don’t want to pay what people are asking… You should mention the housing situation in Ottawa… not as bad as TO, but its pretty crappy.

#46 Dan on 02.14.17 at 5:52 pm

0 Homes Owned,
I’m a college student with negative net worth :D

#47 Another Braggart on 02.14.17 at 5:52 pm

Much more balanced than I was 10 years ago. Thanks for all of the good advice and education Garth.

7500 squarefoot house on acreage. GTHA.
Built 2009.
Spent about $2.2 million. 45% downpayment. Not sure value now. Probably the same, but would take forever to sell. No plans to sell until I downsize and retire in 10-15 years.
Mortgage $1.16 million (just renmortgaged at 2.4% and invested the home equity it freed up).
Liquid investments $2.4 million (RRSPs, TFSAs, prof corp, wife’s non-registered personal account)
age 41

#48 RTFM on 02.14.17 at 5:53 pm

Bought a waterfront home South of Nanaimo nestled in the gulf islands after winning the North Vancouver real estate lottery in 2016. 20% of net worth. 41 years old. Home is 43 years young.

#49 Mississauga been very very good to me on 02.14.17 at 5:54 pm

Garth
Sold my house at the end of 2016 but I will put this in as if I hadn’t sold so that you can have the data  

how many houses do you own, 1
year of purchase and price 2005 /$440k
% down 80%
age of house at that time 25
your age at that time 40

 number of years owned 12
value today sold for 1.5 m
% of your net worth in house equity. zero now as I rent but was about 50%

#50 kastis on 02.14.17 at 5:54 pm

1 SFH
2009, 390K
60% down
7 years age
38 years age
120k owing
8 years
750K value today
80%

#51 Anon on 02.14.17 at 5:59 pm

how many houses do you own, followed by these questions… 4

#1 (principal res, about to sell)
year of purchase and price 2003, $78,000
5 % down
age of house at that time. 54 years
your age at that time. 38
amount owing $9,000
number of years owned. 14
value today. $165,000

#2
year of purchase and price 2012, $86,000
0% down
age of house at that time. 109 yrs
your age at that time. 47 yrs
amount owing $74,000
number of years owned 4.5 yrs
value today. $120,000 + rent (cashflow positive)

#3
year of purchase and price 2014, $175,000
0% down
age of house at that time 65 yrs.
your age at that time 49 yrs.
amount owing $130,000
2 years owned
value today $185,000 + rent (cashflow positive)

#4 (about to become principal res, waterfront)
year of purchase and price 2015, $155,000
5% down
age of house at that time. 44 yrs, currently all new except exterior structure
your age at that time. 49
$148,000 amount owing (+ $30,000 in materials, permits, personal labour)
number of years owned 1.5 yrs
value today $275,000-$300,000 (gutted and took the last year to renovate replacing everything incl elec., plumbing, etc.)

90% of net worth in house equity, will change soon to about 50% after principal res sale

net monthly rental income has created other 10% of equity over last 4 years

Blue collar, single employment income family

#52 Alice on 02.14.17 at 6:01 pm

0 real estate.

0% of your net worth in house equity.

I’ve run the numbers constantly over the past 10 years, and it doesn’t make sense to purchase real estate with NASDAQ returns. And yes, I do this professionally.

#53 N on 02.14.17 at 6:01 pm

how many houses do you own – 0
year of purchase and price – N/A
% down – N/A
age of house at that time – N/A
your age at that time – N/A
amount owing or number of years it took to pay off – N/A
number of years owned – N/A
value today – N/A
% of your net worth in house equity – 0%

Not buying a home has helped me – had health issues that I could address promptly because of a lack of debts. Will buy a home when I can afford it (if I can). Am happy and content not getting into the rat race and living a stress filled life. I do my best to keep stress down to a minimum by living a simple frugal life.

#54 maka on 02.14.17 at 6:03 pm

bought 2005 -10% down $240 age 30
sold 2015- $390k age 40
max out TFSA (mine and wife)
rrsp around 100k
both invested in etf and some equities
now we are pathetic renters

#55 SirHani on 02.14.17 at 6:07 pm

I will not be a statistic… Also I am lazy

#56 Kim on 02.14.17 at 6:08 pm

Bought in 2011, 1.1m, with fees and taxes (HST in BC at the time), final cost was 1.27m.

Last year’s assessed was 1.6m.

Mortgage of 494K remaining.

Liquid assets mostly in stocks of 1.3m, small amount of cash (about 40K). I cleaned out my bank account in 2011 for the downpayment, leaving only my RRSPs, but have since built up invest-able assets of 1.3m in 5.5 years. My accountant thinks I’m crazy and asks me for financial advice, which is to spend less than you make, and invest the rest in a mixture dividend rising stocks and ETFs. I started work in 2008.

Wife is a home maker. I am a professional. One child of 18 months. One 2012 luxury SUV which I will drive to the ground. Transit user and cyclist to work (I learned my lesson). Dividends and rental income cover a lot of our mortgage.

#57 Entrepreneur on 02.14.17 at 6:10 pm

Happy Valentine Day Everyone!

Canadians are getting a little tired of taxes on taxes. Another tax.

Trump looked at T2 with a odd look like seriously. T2 has no entrepreneur experience, dislikes small businesses, taxes everything and a big bill called deficit. It is a good thing Canada has resources or T2 would not be sitting there.

Us little no-good taxpaying Canadians will try to have some form of fun today. Sending goodwill to everyone.

#58 Parksville Prankster on 02.14.17 at 6:10 pm

how many houses do you own,

3
•year of purchase and price

1989 -Primary
2004 – First Rental
2005 – Second Rental
•% down

20% in each case
•age of house at that time

1-new
2- 20 years
3- 10 years
•your age at that time

1-29
2-44
3-45

•amount owing or number of years it took to pay off

1- $0 Paid in 8 years
2- $0 Paid in 3
3- $0 Paid in 3

• number of years owned

1- still own
2- until 2013
3- still own CAP Rate 8%

•value today

1- 550K
2- 425K (was sold at that price)
3- 475K

•% of your net worth in house equity
Primary residence 17%

#59 Joe bob on 02.14.17 at 6:10 pm

We have 2 Condos the wife and I each owned one before getting together. We are 34 (her) and 35 (him) years old. We live in downtown Toronto.

Her:
Purchased: 2012
Cost: 600k
% down: 0%. The bank loaned her the down payment.
Change in price: Up by about 20%
Age of condo at purchase: Brand new
Age at purchase: 30
Owing: About 300k (~50% paid down in 4.5 years)
Current status: This is where we live.

His:
Purchased: 2014
Cost: 415k
% down: 10%
Age of condo at purchase: 3 years
Age at purchase: 32
Owing: About 300k (27% paid down in 3 years)
Current value: About 550k
Current status: Rented out and just barely breaking even after taxes.

Overall about 40% of our net worth is in property. We no longer pay the properties down as quickly and focus more on investing.

#60 Smoking Man on 02.14.17 at 6:12 pm

Seriously.

I own nothing but a pair of 5 dollar Walmart flip flops.

#61 Blobby on 02.14.17 at 6:13 pm

Number of properties owned : 0

That was easy

#62 Madcat on 02.14.17 at 6:16 pm

Q) how many houses do you own?
A) 0

#63 TrumpForTheAges on 02.14.17 at 6:16 pm

Property taxes are based upon the appraised value of the house? To administer property tax the government already knows who owns a house. I don’t disagree that they may be evaluating whether the appreciation of your primary residence should be completely tax free. But quite frankly….your characterization of the process under review is purely speculation and would almost make me think that you are a conspiracy theorist bullion licker?

#64 mou on 02.14.17 at 6:17 pm

Just as long as your real estate backers aren’t the same as our ‘friend’ down south!

http://www.npr.org/sections/parallels/2017/02/08/513946283/trump-tower-in-toronto-is-up-for-sale-and-facing-legal-woes

“The Trump project was developed by Talon International, a Toronto real estate development firm run by two Russian-Canadian entrepreneurs. Alex Shnaider owned the company and Val Levitan ran the day-to-day operations.”

#65 Doug in London on 02.14.17 at 6:19 pm

All my real estate holdings are REITs, mostly listed on the TSX but also some on the NYSE and I don’t expect that to change any time soon.

#66 Delvico on 02.14.17 at 6:20 pm

I’m 40.

My wife and I own two houses in Vancouver area.
I also have a group of investors that I put together and we own two other projects. We bought our first house in 2008 and now live mortgage free.

1) house bought in 2008 (so was 32 years old) for $945k. We put $250k into a big reno and then $580k into building an infill house. We sold the front house in 2014 for $1.2m and the back infill house in 2016 for $1.41m. We made $900k round trip in 6 years; tax free. I would need to work ~15 years earning taxable income to replicate this outcome.
2) we bought another house in 2014 for $1.06m which is now assessed at $2m; so sitting on another $1m of tax free growth.
3) we bought a cabin in Howe Sound in 2015 for $550k. I don’t care what this is worth (let’s say the same) as this is a family asset we wish to own for a long time.
4) we bought a 25% interest in two houses in Kits in 2015 (one title) for $2.2m. We found a glitch in the zoning and have an accepted offer for $3.7 closing in May. We will provide the builder the Development Plan and Building Plan as part of the deal (so there was work/costs involved… but those are included in the $2.2m price I noted)
5) we have a 32% interest in another project in South Vancouver. We bought the house Fall 2016 for $1.77m. My projections are once we get a development permit from the city (building rental housing) the project will be worth $3-4m. But let’s assume it’s worth $1.65m today to be conservative.

The % interest we have in real estate at any given time fluctuates but at the moment it stands at 80%. Rest of net worth is in a handful of equities as well as my business.

Other than our cabin, I’m not married to any of these holdings. We’ve sold two ‘family’ homes and there was zero emotion involved; interestingly our least valuable real estate holding has the biggest emotional attachment! Real estate, for us, has been a tremendous builder of tax efficient wealth. I get that we obviously had some major tailwinds at our backs (rising market helps!) but these are the facts.

Lastly, the age of homes is irrelevant in Vancouver. As an example the current house we live in is assessed for $2m. The land is assessed at $1.97m and the house (a 1950s ho hum bungalow) assessed at $30k. No joke.

#67 Thankful on 02.14.17 at 6:22 pm

Had a 2 bedroom Toronto condo; purchased 2011, listed in 2015, sold early 2016 after several months on the market. 20% down on $500k when purchased, did not appreciate nearly as much as the media would have had you believe. Sold for $600k after several price reductions.

Bought a house in Cambridge cash September 2015 due to job relocation, my company was acquired by one in Cambridge. It didn’t work out – I sold late 2016 multiple offers. Bought $550k, sold $603k.

Now in my mid 30s.

I refuse to buy back into this market. Living with parents when I’m in town, spending a lot of time with my fiancee who lives and works in SF. I’m hoping reality sinks in and the market becomes rational. I have tried renting about a dozen apartments in Toronto since November of last year. Every single one ending up in a bidding war and I refuse to bid apartment rentals up. I have recently given up. There is rental supply on the market however 90% seems to be very poor quality, so there is a lot of competition for anything 1/2 decent.

85% of my money now under very competent management, balanced and diversified.

I’m starting up a new business. Not having to worry about my money is paying me dividends in time and brain cycles.

Garth, I thank you for all the information on this BLOG. Certainly life changing. It has made me look at everything differently and I’m much better off for it. My decisions over the past year have been influenced by everything I have read here. Couldn’t be happier. Though now I’m addicted to your BLOG!

#68 Snowboid on 02.14.17 at 6:23 pm

Two homes, one a lakeview condo in Kelowna, one a winter home in NW valley of Phoenix, Arizona.

Just sold AZ home, will close in a couple of weeks.

Ktown – 2015 240K, cash purchase, 22 years old, 64, nothing owing, 2 years owned, current value $ 330K

AZ – 2010 120KCAD, cash purchase, 21 years old, 59, nothing owing, 6 years owned, current value $ 275K CAD

About 20% of net worth in real estate

#69 Rainclouds on 02.14.17 at 6:23 pm

Sold 800k in 2012, purchased 1990 @ age 32, for 235k mortgage was paid in 15 yrs.

Now Renting. No props

Proceeds of the property sale = 40% of net worth.

The balanced portfolio has grown nicely since 2012…..

Freedom !!!

#70 MicroGX on 02.14.17 at 6:24 pm

Atlantic Canada
1 home (semi)
2007 (our first home) $135k
22% down (rrsp: between both of us)
House Age- 0 newbuild
Age 35 purchase time
0we 36k ( targeting 2.5 yrs to payoff)
Value 158 k ( hey it’s the Maritimes..)
% of net ~19%

Plus: privacy fence for our SPCA Pup and Bikes ( not Harley’s.. We’re too fit haha,but hey ) AND today’s bonus we only got 37cm if snow, it’s being reported as “we got off lucky”. so far ;-)

Luv the blog… now gotta get my a$$ back to some Romancing!

#71 thevoleman on 02.14.17 at 6:24 pm

how many houses do you own = 3
year of purchase and price =
2012, 125k usd, 2012 125k usd, 2015 380k cad
% down = 100%, 100%, 20%
age of house at that time =6,6,50 years
your age at that time = 52,52,55
amount owing or number of years it took to pay off =
0,0,20
number of years owned = 4,4,2 years
value today = $175k usd, 175k usd, 430k cad
% of your net worth in house equity = 45%

#72 Julia on 02.14.17 at 6:25 pm

One house purchased in 2012
Toronto
$1.2M
Paid in full (downsized)
48 yrs old, house 100 yrs old
Owned 5 yrs
Worth around 1.8-2.0M
Around 40% net worth

#73 iwill on 02.14.17 at 6:26 pm

I own my home and 2 condos. The condos I bought for cash and don’t declare the income. I’m sorry, but I don’t pay more than 50% tax. I think I’d rather go to jail.

#74 Keith in Calgary on 02.14.17 at 6:30 pm

I do not own RE in Canada.

I own a condo in Rio de Janeiro……..about 10% of my net worth……..it was paid for long ago.

#75 Braj on 02.14.17 at 6:31 pm

0or N/A to all the above.

25MON

#76 Dick C on 02.14.17 at 6:32 pm

I own one house in the city. I share cottage with my sibs.

Bought house in 2005 for $580K. 100% down. I was 35.

House was built in 1905.

I figure the value today, based on neighbour’s selling prices is $990K.

My house represents 20% of my net worth.

#77 V on 02.14.17 at 6:34 pm

I live with my parents

#78 };-) aka Devil's Advocate on 02.14.17 at 6:34 pm

#199 Bobby on 02.14.17 at 3:26 pm
For #186 DA,

I think we can all agree that the real estate industry has taken a front seat in having many believe that buying a house was an investment, not a place to call home. How about the inaccurate comparisons to the TSX, the continued comments that real estate always goes up and probably the misinformation about buying a house that realtors pass on to first time buyers. I recall one new realtor telling me I was foolish to have monies in a solid pension fund, real estate was supposedly where it was at. A get rich quick scheme.
Once this all shakes out, and it will, I see a major shake up in the real estate industry. Just imagine the hue and cry when the Liberals come after taxes for secondary suites or mortgage helpers. Where will that money come from given many homebuyers are already stretched. I wonder how many realtors were honest and said to prospective buyers that their mortgage helper was in fact income that had to be reported. I doubt many. In the end, when it all comes crashing down, many who had made a bad decision in buying a home they couldn’t afford will be looking for someone to blame. My guess is their first target will be their realtor!

Sadly, as much as I wish I could agree with you, ultimately it is buyers who pay the price and right now they are in a feeding frenzy for the too few morsels that do come to market (Supply and Demand). I don’t attribute as much of the fervor to organized real estate as I do Federal Monetary Policy, HGTV and, of course, the MSM which is a HUGE influence. And then there are the banks… ohhh the banks…. “I fear banking institutions more a threat to our civil liberties than standing armies” – Thomas Jefferson.,
REALTORS® I honestly believe, by and large, provide a good service. That said the industry has attracted a lot of new participation on the assumption that it is easy money. Not so much so thought when you consider the average REALTOR® sells 6 homes a year. That competition within the industry has caused many a newbie to commoditize the business with superfluous ticks and trinkets which really evade that component of the business in which they can’t complete and is most important to clients – experience. It degrades the real value of organized real estate and the MLS®. I think the days of MLS® may be numbered for all the wrong reasons.
There is no better vehicle through which to expose a property to buyers than through a REALTOR® and the MLS® and no better vehicle through which to find a property than through a REALTOR® and the MLS®. Neither Zillow nor Trulia compare. Zillow and Trulia might look like a more “feature rich”, user centric, services from an outsider’s point of view, but that’s not, at all, what the MLS® is about. The MLS® is a networking tool not an advertising medium. It’s what REALTORS® use to network, collaborating to help get their respective clients move from their current reality to their desired reality. It’s a “system” not a “service”.
Sadly too few, including REALTORS®, will understand the real purpose and benefit of the MLS® until after it is gone. By then I will be retired or dead so… let them all eat cake };-)

#79 Dan on 02.14.17 at 6:36 pm

own 1 house, waterfront 40 minute drive from Montreal.
bought in 2015 for $275,000 with 30% down.
age of house 2012.
owing about $160,000.
Value now $290,000.
about %30 of net worth.

#80 Chaddywack on 02.14.17 at 6:36 pm

No house ownership.

#81 Vancouverite on 02.14.17 at 6:36 pm

• how many houses do you own, followed by these questions…
1 detached house (which has an unoccupied basement suite **).

•year of purchase and price
Purchased 2007 cost $650,000

•% down
100%

•age of house at that time
31years – built 1976

•your age at that time
53

•amount owing or number of years it took to pay off
0% -0years

• number of years owned
10 years

•value today
$1,487,000

•% of your net worth in house equity
67%

**The basement suite, currently use as part our living space, is where we intend to offer free accommodation to a health care professional working at the local hospital, in return for keeping an eye on us as we age-in-place (we have no family/kids).

#82 boopsie on 02.14.17 at 6:37 pm

Way to go, Garth. Pure gold for CRA. We used to troll rural papers to find out who was selling firewood under the table (yes I worked for the donkeys all thru 90’s) and I thought that deeply unfair. Also server’s tips etc. So beware, dogs.
They are coming for you.

#83 Freedom First on 02.14.17 at 6:37 pm

$0%. I am a low class renter. No basement suite. First tenant to live in a newly built high-rise with all the amenities. Right at the edge of the downtown core.

#1
Freedom First
Master of Freedomonics

#84 Warrior on 02.14.17 at 6:38 pm

how many houses do you own: 1
year of purchase and price: 2000 for $365K
% down: 40%
age of house at that time: 0, New
your age at that time: 34
amount owing or number of years it took to pay off: 0, paid off in 7 yrs.
number of years owned: 16
value today: $1.3MM, Townhouse in TO
% of your net worth in house equity: 50%

#85 Andrew on 02.14.17 at 6:40 pm

30-year-old renter in Vancouver making 24k a year because I work in the arts. Never owned a property, and don’t expect I will be able to for at least a couple more decades.

#86 IHCTD9 on 02.14.17 at 6:42 pm

Lots of newish owners so far.

I said this would be interesting info, so here’s my .02:

how many houses do you own 1
year of purchase and price 2000, 123K
% down – 10 roughly
age of house at that time – 130
your age at that time – 27
amount owing or number of years it took to pay off – 14
number of years owned – 17
value today – 260-280k ?
% of your net worth in house equity ~ 30%

Correct, I don’t live in the GTA or YVR!

#87 };-) aka Devil's Advocate on 02.14.17 at 6:42 pm

I do agree that the Feds will, sooner than later, somehow tax equity holdings in real estate. It will be excused in some way but we will all know the real reason… shitty management of the Federal, and subsequently joining the bandwagon Provincial, coffers.

#88 Brett in Calgary on 02.14.17 at 6:43 pm

No physical real estate owned. I have about 6% of wealth in REITs.

#89 Paul on 02.14.17 at 6:43 pm

The powers that be can not even ensure the legality of basement suites. If they turn the screws on the Ma and Pa landlords best then start building tens of thousands of affordable housing units for all the subterranean millenials. Better yet free down payments no interest morrgages ,sell more houses. What do you mean we tried that already !

#90 Erick on 02.14.17 at 6:44 pm

Renter
No house
48 years old
5% of portfolio in REITs

#91 Smartalox on 02.14.17 at 6:44 pm

Real Estate owned: 0

Last Sold: 2010

Renting: 7 years

Income (family/yr.): $205k

Investable Assets: $600k

Debt: $0

% change in net worth since renting: 300%

Average Age: 44

Rule of 90 limit (recommended max % of net worth as equity in Real Estate): 45%

Prospective down payment amount: $200k

Price to Rent Ratio: 48

Starting to feel the pinch in our rental in Vancouver, targeting winter 2018 for property shopping, not necessarily in Vancouver.

#92 mountain guy on 02.14.17 at 6:45 pm

1 townhouse, principle residence, paid in full (downsized)

bought 2005, $340k, built 1980 (25 yrs then, now 37) now ~ $560k

age 52, % net worth ~40%

#93 Property Accountant on 02.14.17 at 6:46 pm

Me & my wife sold 5 years ago and currently rent 2 bed condo and have all our monies in TFSA, RRSP’s RESP and margin investment accounts. Thanks to records beaten by TSX recently one after another we have 620K in investments, churning dividends. We are just despicable renters.

#94 Zelda on 02.14.17 at 6:46 pm

Sold our house with the basement rental unit in a bidding war over asking price in May 2016 in small city Southwestern Ontario. Found a beautiful 3 bedroom 3 bathroom house with attached 60 X 40 garage on 88
Acres 2 of which is my yard. 2 fireplaces We love it. For $1200 a month 10 min from the city and the border We put all the money in topping up rrsps. Tfsa. Bought a new Ram to tow the new boat or trailer. Enjoying life on the farm on the border. Hubby and I are late 50’s.

#95 jennaroo on 02.14.17 at 6:48 pm

Own 1 townhome (with hubby)
Purchased in 2011 for $350,000 in a suburb of Vancouver
Place was 21 years old when purchased
35 yo and 32 yo at time of purchase
Owned 5 – 6 years
Value today about $500,000
About 35% of net worth in equity only (not including appreciation)

#96 Miss Liz on 02.14.17 at 6:50 pm

Investments all liquid.
33 year old renter in Toronto. Hormones in check.

#97 Jungle on 02.14.17 at 6:53 pm

One detached house, GTA

•year of purchase and price 2012 $425,000 (upsized from condo bought in 2007 in Toronto. Also sold detached rental in GTA from 2007-2015 (small gain)
•% down Almost 50%
•age of house at that time 25 years
•your age at that time 30 years old
•amount owing or number of years it took to pay off 7 years $120,000 owing
• number of years owned 10 years total in market this sept
•value today $675,000 aprox
•% of your net worth in house equity-about 55%

#98 Dave on 02.14.17 at 6:54 pm

45% Of people have suites in their home in Vancouver? What a crappy quality of life. Imagine paying all of those taxes and having to have some suite in the house to rent out to strangers. Not worth it for me. I’d rather live elsewhere.

#99 Andrew Woburn on 02.14.17 at 6:54 pm

It could materialize through enforcement of existing rules by the CRA – cracking down on illegal suites, for example.
=========================

Why do we assume that people aren’t already declaring income from these suites? After all, how many suites would really earn taxable income after deducting a reasonable share of mortgage interest, taxes and depreciation? At today’s cost structure, even if nobody is declaring income, how much tax is really being lost compared to the profits on flipping?

#100 vm1 on 02.14.17 at 6:55 pm

year of purchase and price – one home, 2013 at $640K
% down – 88%
age of house at that time – new
your age at that time – 39 years old
amount owing or number of years it took to pay off – $0 owing, paid off in 1 year
number of years owned – 17 years
value today – likely no change (Calgary)
% of your net worth in house equity (55%)

#101 Ed on 02.14.17 at 6:56 pm

Sold house 6 years ago…own sailboat worth more than house now though.

#102 Chris on 02.14.17 at 6:58 pm

how many houses do you own, followed by these questions…
year of purchase and price
2006; $580,000
% down
40%
age of house at that time
5 years
your age at that time
36
amount owing or number of years it took to pay off
Paid off in 5 years
number of years owned
11
value today
$1.4 m
% of your net worth in house equity
30%

#103 Wrk.dover on 02.14.17 at 6:59 pm

1, 1981, 30K, 5% down built @28 years old paid in 7, 36 years here. Stand alone value 100k, but I tweaked it building a guest suite over a multi car garage, and a cabinet shop over another, going through another 100k and increased value for quick sale of entire compound only 200k total.

I worked till 35, wife till 55 with 3.5 years off between 40 and 55. Spent more on travel than RE.

RE is 1/2 of combined spousal net plus one DBP.

#104 Paul on 02.14.17 at 7:04 pm

#59 Smoking Man

You over paid!

#105 Not giving name on 02.14.17 at 7:04 pm

how many houses do you own, followed by these questions…

1

year of purchase and price

2012 – $940,000
% down

100%

age of house at that time

20

your age at that time

44

amount owing or number of years it took to pay off

0

number of years owned

5

value today

$940,000

% of your net worth in house equity

45%

#106 MoreSnowInBarrie on 02.14.17 at 7:06 pm

– One house owned
– Purchased 1997 for $164,000
– ~60% down (second home)
– 10 years old at time of purchase
– 35 & 33 years old
– paid off circa 2013
– owned 20 years and counting
– value today $400,000 (conservative)
– 15% of net worth in house equity

#107 Pookie on 02.14.17 at 7:06 pm

Me- American who fled Vancouver in 2010 after 5 years

how many houses do you own, followed by these questions…
year of purchase and price – 2011 $410k USD
% down – 100%
age of house at that time – 1yr new unsold/foreclosed on developer
your age at that time – 35
amount owing or number of years it took to pay off – 0
number of years owned – 5
value today – $900k USD
% of your net worth in house equity – ~75%

#108 Scott on 02.14.17 at 7:08 pm

Sold last spring, MAHFAHKAHS!

#109 I am a statistic on 02.14.17 at 7:11 pm

how many houses do you own
1

year of purchase and price
2008, 240000

% down
12.5%

age of house at that time
30

your age at that time
28

amount owing or number of years it took to pay off
150000

number of years owned
8

value today
300000 (est)

% of your net worth in house equity
30%

#110 Chumpy le chump on 02.14.17 at 7:13 pm

how many houses do you own – 1 rental property; 3br apartment
year of purchase and price – 2016; $231,500
% down – 35%
age of house at that time – 30
your age at that time – 45
amount owing or number of years it took to pay off $149,000
number of years owned – 2 months
value today – $250,000? I don’t really know
% of your net worth in house equity – 21%

#111 LTRFTW on 02.14.17 at 7:14 pm

Owned 17 years
Purchased for 268 k
20 % down
22 year old house
37 Year old owner
Mortgage free, 4 years ago
Value today 1.1mil
% of net worth:

RRSP’s 200 k
TFSA’s 120k
Other investments 300 k

25 yr DB ( Fully Funded ) Pensions x 2 $ ???

If we retire at 65 and live to be 85, 1.2 mil

So Value of house as percentage … 50% ?

#112 Ron B on 02.14.17 at 7:18 pm

Sold my house a year ago and invested in a balanced portfolio. Still glad I did this. Thanks, Garth.

And now I rent.

#113 John on 02.14.17 at 7:19 pm

1
2010 – $167,500
20% down
30 y/o condo
26 y/o
$137,500 (borrowed against equity to consolidate debt at much lower rate)
7 years
$185,000
30% of NW in RE equity

Listing condo for sale this week and becoming a renter.

#114 Popeye he Sailor Man on 02.14.17 at 7:21 pm

how many houses ; ONE

year of purchase, price,%down; NOV2009;433K,50%

age of house at that time; 3 years old now 10

your age at that time; 41

amount owing or number of years it took to pay off
number of years owned; Owe 80K,

value today; $485K (25K improvements)

% of your net worth in house equity; 27% (Home Equity/Net worth

#115 Oslerscodes on 02.14.17 at 7:22 pm

how many houses do you own:
1

year of purchase and price:
2014, $1.1M

% down:
mortgage was $625k so 43%

age of house at that time:
New

your age at that time:
36

amount owing or number of years it took to pay off:
$502k. Waiting to upgrade so piling $ on fast, mortgage should be gone in 42 months

number of years owned:
3

value today:
$1.35M (appraised Nov 2016)

% of your net worth in house equity:
21%

#116 flip flops on 02.14.17 at 7:25 pm

#59 Smoking Man

Seriously.

I own nothing but a pair of 5 dollar Walmart flip flops.

—–

Are they Made in USA flip flops?

Made in Globalism flip flops are supposed to be $2, top.

#117 Bytor the Snow Dog on 02.14.17 at 7:26 pm

How many houses do you own- 1

Year of purchase and price- 2011, $185,000.00

% down 10%.

Age of house at that time- Let’s see. Built in 1959 that would be 52 years.

Your age at that time-49.8

Amount owing or number of years it took to pay off- $140k

Number of years owned- 6

Value today- $250,000.00 +

% of your net worth in house equity- If you let me count the value of my fancy gov’t pension- 10%. If you don’t +/- 65%

#118 bring it on on 02.14.17 at 7:26 pm

own 1 large duplex in Vancouver (Kitsilano) with my wife

purchased in 2004 for 540K… age of duplex at the time was 16 years old….

Put down 25% and was 42 at the time.

Paid off in 2013 using accelerated payments.

Now assessed at 1.55M in 2016, and has been completely renovated.

Is around 45% of current net worth.

#119 OldBart on 02.14.17 at 7:28 pm

Ok, I will play

– how many houses do you own: 1, Atlantic Canada
– year of purchase and price: 1995, $130k
– % down: 5%
– age of house at that time: 6 years old
– your age at that time: 36
– amount owing or number of years it took to pay off: 15 years to pay off
– number of years owned: since 2010, 6.5 years
– value today: $250k assessed value
– % of your net worth in house equity: 40%

So what did I do wrong Garth?

#120 cowtown cowboy on 02.14.17 at 7:28 pm

YAY, another poll!
how many houses do you own, followed by these questions… – own 1 single detached
year of purchase and price – 2006, $390k
% down – about 25% I think
age of house at that time – new
your age at that time – 37
amount owing or number of years it took to pay off – ~$275k owing, refinanced and added about 50k :-)
number of years owned – 10
value today – about $650k (I hope!)
% of your net worth in house equity – about 45% depending on the vagaries of the stock market…

#121 Rapier Wit on 02.14.17 at 7:29 pm

Gawd! I love this blog!! Class participation at its finest!!

Properties owned – 1
1988 and paid $95,000
Down payment 20%
House age at that time – 10 years
My age at the time – 33
Paid for in 19 years
Number of years owned – 29
Value – $420,000
% of net worth in real estate 14%

#122 Barb on 02.14.17 at 7:31 pm

The questionnaire is “how many houses”?

How about commercial property?
How about other business(es)?

*grin*

#123 Peppy Sue on 02.14.17 at 7:35 pm

Own 1 home, purchased brand new in 1990 for $211,000, at 30 yrs (spouse was 33).
50% down.
Paid off 2001.
Still living there.
Current value approx. $850,000.
50% of net worth.

#124 BC_Doc on 02.14.17 at 7:35 pm

One house.

2003– $315k

25% down to avoid mortgage insurance. Cheated and borrowed off an unsecured LOC to raise the 25% cash.

10 year old house at time of purchase.

Age 37 (first house– lots of years training to beca doctor while renting)

Mortgage free after about 10 years.

Worth about $550k today– Okanagan. Put a two in frontbof this number if the house were in North Van. Location, location.

13+ years in house. No plans to move.

15-20% of current net worth.

BC_Doc’s advice: listen to Garth’s advice on RE and don’t forget to eat your broccoli.

#125 Trumpophobia on 02.14.17 at 7:39 pm

Forms are for the sheeple.
Steerage section in greaterfool lingo.

#126 AK on 02.14.17 at 7:39 pm

how many houses do you own
One – Markham Ontario

year of purchase and price
1991 —— $259,900.00

% down
60%

age of house at that time
5 Years – Built in 1986

your age at that time
35

amount owing or number of years it took to pay off
$107,000.00 – Paid off in 1999

number of years owned
26 +

value today
No Clue – 16th Avenue and McCowan

% of your net worth in house equity
< 30 %

#127 Ketch on 02.14.17 at 7:43 pm

I see lots of houses being sold using principle Rez status and not paying gain on none principle property.look out the tax man is coming on those sales big time.

#128 I'm stupid on 02.14.17 at 7:44 pm

Own 3 value who knows.

1 in Toronto
1 Italy
1 Bahamas (just to get Bahamian citizenship)

If you think I’m going to get screwed with an investment tax at 62%, I’ll have the rest of my money moved to the Bahamas in the blink of an eye! Spend over 500k in the Bahamas on Realestate or a business and you’ll get automatic citizenship. Tax rate 0% if I get caught avoiding taxes I’ll leave Canada and move to Europe.

#129 Sam Patz on 02.14.17 at 7:45 pm

I do not own a home or any real estate.

Net Worth: Around $2 million.
I generate a 8%-10% yield from my investments in bonds, stocks at a money management firm.

I rent a condo (large 2 bedroom) for $2500 per month.

It does not make sense to buy a home in this massive debt fueled bubble. I expect a 30%-50% drop and then might buy a home in Toronto.

Thanks.

#130 Barbo on 02.14.17 at 7:46 pm

Atlantic Canada – Baie des Chaleurs
1 home 7 bedrooms
2007 Purchase Price $78k
20% down
House Age- 90 Victorian Style
Age 45 purchase time
0we 30k ( targeting 6 months to payoff)
Value 100k ( hey it’s the Maritimes..)
% of net ~15%

#131 She Who Must Be Obeyed on 02.14.17 at 7:47 pm

I sure hope they are giving out tax breaks for capital loses when the market takes a downturn !

#132 John Bennett on 02.14.17 at 7:48 pm

How many houses do you own
3 (1 house, 2 rentals in Florida)

Year of purchase and price
2000: $440,000
2012: $319,000 USD (rental)
2013: $405,000 USD (rental)

% down
100%

Age of house at that time
2000: 5 years
2012: 9 years
2013: 10 years

Your age at that time
40

Amount owing or number of years it took to pay off
0

Number of years owned
17, 5, 4

Value today
2000: $1,100,000
2012; $400,000 USD
2013: $450,000 USD

% of your net worth in house equity
20%

#133 Gulf Breeze on 02.14.17 at 7:48 pm

I bought my place for 430,000, cash, last year. It represents 15% of my net worth, at the present time. I have 12% in the bank, 4% in a tfsa and the rest in commercial real estate.

Assessing worth of commercial real estate is complicated and the value is subject to economic shocks and downturns, so it could all be ashes in the wind, tomorrow.

#134 KDub on 02.14.17 at 7:50 pm

Currently renting a house just outside of West Vancouver.
Sold all real estate 5 years ago and happily enjoying the hated renters lifestyle.

#135 Bobby on 02.14.17 at 7:51 pm

For # 77 DA,

A very good response.

#136 Jay on 02.14.17 at 7:54 pm

1 house in Calgary.
Bought in 2015 for 750k, house was new
30 % down.
Today hopefully still worth 750k, but hard to know until i sell.
32 years old at the time
Equity is 60% of net Worth. High I know but I’m shovelling money into equities to balance this

#137 I'm stupid on 02.14.17 at 7:54 pm

I know it’s become popular to use credit/debit cards for everything but all your purchases can be tracked. If you ever have a problem with revenue Canada they might come after you based on your lifestyle. They’ll look at your stated income and the cost to live where you do and how you do and you better bet your ass they’ll check your credit card and bank statements. I’ve battled them for years until I had enough. They made me the way I am.

#138 Just the facts on 02.14.17 at 7:57 pm

owned – 1
year, price – 2000, $200,000
% down – 25%
house age – 15
my age – 31
paid for in – 15
years owned – ~17
current value – ~ $550,000
% of NW – ~30%

#139 Matt on 02.14.17 at 8:00 pm

1 home
Bought new in 2011
Paid 370,000
10% down
Was 34 at the time
10 years left on the mortage
Comparable sales of 500k
Owe 275k
Represents 40% of our net worth

In retrospect wish I would have gone bigger, could have qualified for a home closer to Vancouver and would have a lot more net worth, and fewer years to work before retirement! But paying a house off in 15 years will be a nice win for us, and we love the home and where we live.

#140 BlogDog123 on 02.14.17 at 8:04 pm

1 house, no renters, SFH bungalow
2004 purchased, $345,000 40% down
50 y/o house
7.5 years paid off *
13 years owned
$800,000 (*a big reno done, heloc 2 more years)
50% of net worth in house

#141 YVRPeasant on 02.14.17 at 8:05 pm

Homes owned: 0

Things will have to drop fairly steeply before the numbers make sense to buy.

#142 Brian Johnson on 02.14.17 at 8:06 pm

-I own 1 house
-Purchased in 2015 for $392,000 including GST ($373k ish w/o)
-20% down payment
-Brand new
-30
-$297,000 Owing
-1.5 years owned
-Assessed at $380,000
-31% net worth in house equity

#143 bigtowne on 02.14.17 at 8:07 pm

Over 55 by a couple of hours

My real estate is in residential and commercial reits and do not own any property.

I rent.

Since Canada’s population is mostly within 100 km. from the American border our government can finance the new green economy by leasing the whole empty country on an annual basis to other countries who need crop space. China and the middle east have problems feeding their teeming populations while Canada has tons of space going to waste since Canadians have to be near the TTC there is no good reason why we can’t get some green from all our green. Of course, we have to allow only highly paid Canadians to organize; work; and manage this endeavour. There seems to be a real lack of innovation in the think tank in Ottawa ..blinded by the light. That was a phrase in a Supertramp hit from the 70’s. Rock on G.

#144 Y m o 3 on 02.14.17 at 8:08 pm

30something renter with spouse and kids
Have never owned property
MDs
Want to leave option for very early retirement or scaling down. We work hard and hours are long.
We don’t see much value in buying in our prefered Ottawa hood. Renting is way cheaper. Meanwhile our portfolio grows and with it options! Like escaping the winters.

#145 Trevor on 02.14.17 at 8:09 pm

Rent; sold in 2013
32

#146 j on 02.14.17 at 8:10 pm

 how many houses do you own, followed by these questions… 1
year of purchase and price
2012
200,000
% down
20
age of house at that time
120
your age at that time
25
amount owing or number of years it took to pay off
110,000
 number of years owned
5
value today
450,000
% of your net worth in house equity
66 %

#147 Millmech on 02.14.17 at 8:13 pm

Renter
500mth covers rent,hydro,heat,water,cable,laundry,wi-fi 1/8th the cost of a mortgage

#148 Burnaby_Born on 02.14.17 at 8:16 pm

Own only 1 house.

year of purchase and price
-1995 for $400k

% down
-50%

age of house at that time
-20 yrs

your age at that time
-38 yrs

amount owing or number of years it took to pay off
– $0. Paid off in 6 years

number of years owned
– 22 yrs

value today
– $1.527M

% of your net worth in house equity
-44%

#149 Dan.t on 02.14.17 at 8:18 pm

Our last survey of readership revealed that most people here are billionaires with seven-figure incomes who just come for the dog pictures.—-

Haha, ja, I know that. Ask people what they make, they lie , often. My experience. Or they over embellished their investments.

Ask this poll in 5 years- probably won’t hear, bought for 400k but worth 580k…. Everyone will be happy if it’s worth what they paid- typical group think- never ever will prices correct- until they do. We are living in crazy times.

I hope government cracks down hard on real estate gains.

Me all liquid. Zero debt. Don’t have a million, so I would be considered a total loser in Canada because all Canadians are super rich.

#150 EmpCod on 02.14.17 at 8:19 pm

1 house, purchased in 2016, paid cash
immediately refinanced 65% to invest and deduct interest
built in 1959
we were 38&40 years old at time of purchase
owing 195k with 24 yrs of amortization to go
value today = 350k
equity represents ~7% of household net worth

#151 A box in the Sky on 02.14.17 at 8:20 pm

Mid 30’s in Toronto
Rent a condo
~ 600k in liquid assets (rrsp, tfsa, non-reg)

never owned a house

Yep, I’ve sat on the sidelines during the epic decade long bull market in housing even though I have the income & assets to at least have gotten a townhouse/semi ….. oh well.

Definitely made a mistake doing so, but dwelling on the past doesn’t mean you get a do over. Not like I’m wondering where my next meal is going to come from so I doubt anyone is going to shed a tear for me.

#152 John on 02.14.17 at 8:21 pm

If a capital gains on the principal residence should occur, then it might (reasonably) include deductibles such as interest costs and property taxes, filed yearly and deducted from taxable income. Isn’t that how it works in the USA?

#153 Irish Stew on 02.14.17 at 8:21 pm

how many houses do you own – (1)
year of purchase and price – 2012 ($190,000)
% down – (50%)
age of house at that time – (10 yrs)
your age at that time – (30 yrs old)
amount owing or number of years it took to pay off (4)
number of years owned – (6) yrs
value today – ($260,000)
% of your net worth in house equity – (20%)

#154 Grumpy Old Man YYJ on 02.14.17 at 8:22 pm

Own 1 house
Purchased in 2014 for $629,000
20% down
108 yrs old when purchased
44 yrs old when purchased
Still owning $420,000
Have owned for 2-1/2 yrs
Last assessment was $923,000
30% of net worth is in house equity

#155 Bilboed on 02.14.17 at 8:22 pm

Properties owned – 1 House, 1 cottage, 1 lot 30k
2012 – $380,000, 2001 $70,000 (materials, infinite labor)
Down payment 75%, N/A
House age at that time – 12, 0 years
My age at the time – 48, 35
Paid for – 3 more years, N/A
Number of years owned – 5, 16 years
Value – $420,000 $200,000
% of net worth in real estate 30%

#156 Busy mom of 4 on 02.14.17 at 8:23 pm

how many houses do you own
5

year of purchase and price

2013 – 610K – principal residence
2015 – 74K rental – 950/month in rent
2016 – 109K rental – 1100/ month in rent
2016 – 155K rental – 1250/ month in rent
2016 – 166K rental – 1250/month in rent
all cash flow positive

% down
50% – principal residence
20% on all rentals

age of house at that time
17 years – principal residence
50-60 years old on all rentals (post war bungalows)

your age at that time
39 and 42

amount owing or number of years it took to pay off
total owing on all residences – 753K
principal residence to be paid off in 7 years

number of years owned
3 and 1 year and less for all rentals

value today
750K – principal residence
120K – rental #1
175K – rental #2
195K – rental #3
166K – rental #4

% of your net worth in house equity
Total Assets – 2.2 Millions
debts – 753K
home value – 1.1 Millions
invest-able assets – 796K

#157 RiverRat on 02.14.17 at 8:24 pm

I own 1 house and a boat. I live six months cruising on the boat and the rest at the house. Boat $20K. House $35K in 2013 (distressed). Current value maybe $60K. Paid cash. House is 10% of assets.

I spend a lot of time in Canadian waters, but am based in NY.

#158 Kostas on 02.14.17 at 8:26 pm

No RE owned. It’s weird that our family income is 195k and we are already left outside the market. So, no further plans on buying anything

#159 GsAmazon on 02.14.17 at 8:28 pm

Virgin Renters in downtown TO with babies, puppies, a balanced portfolio and good night,s sleeps – waiting list for co-op housing but now thinking we might escape this nonsense before thw bursting bubble makes everyone house poor and grumpy…
F33ON

#160 Brian Gordon on 02.14.17 at 8:31 pm

Properties owned – 1 (rental property)

Purchased 2010 – 145 k

Down payment 5%

age of condo – 35 years

My age at the time – 31

Balance of mort 135k

Household income 185K

Value – 225k

% of net worth 20

#161 InvestorsFriend on 02.14.17 at 8:34 pm

Rumpole of the Baily

#129 She Who Must Be Obeyed on 02.14.17 at 7:47 pm said:

I sure hope they are giving out tax breaks for capital loses when the market takes a downturn !

*******************************
I do hope Mr. Rumpole has remembered it’s Valentine’s day.

#162 Ironicalisaword on 02.14.17 at 8:35 pm

Houses owned: 1 (condo)
Year purchased: 2013 paid: $600000
Percent down: 66%
Age of house at purchase: 4 yr
Age at purchase: 40
Amount owed: $78,000
Ownership period: 4 yrs
Assessed: $690000
Net work in house: 65%

#163 Tim on 02.14.17 at 8:40 pm

how many houses do you own: 1
year of purchase and price: 2005 $242,000
% down: 38%
age of house at that time: 55
your age at that time: 35
amount owing or number of years it took to pay off: 5
number of years owned: 17
value today: $347,000
% of your net worth in house equity: 27%

#164 John on 02.14.17 at 8:40 pm

Generally, no one should buy a house with a basement apt. The key is not to have a second stove in the basement. Save monry. Don’t finish your basement. For those inching towards the nursing home circuit, divest yourself of your principal residence. In advance. If your relationship with your kids is solid, pay off their mortgage and live with them, between globe trotting. Keep sufficient cash banked in their TFSAs and whatever, to draw down for expenses. Seek legal ways to become “poor” …. buy an RV and head out. Rent a small apt which your kids pay for as the have no mortgage, thanks to You. Pay for your Grandkids ever increasing post secondary education, while your kids spot your expenses. Just looking at pathways. This tax the prone residence or deny you existing old age stuff based upon your bank account would end the Liberals chance to govern for a generation or two, so stay calm. It may never even come to this. Stay calm and carry on.

#165 boonerator on 02.14.17 at 8:43 pm

Sold in 2014, renting now, but lets pretend it is early 2014…

year of purchase and price:
1990 195k
% down: 20%
age of house at that time: 21 years
your age at that time: 43
amount owing or number of years it took to pay off: never paid off, LOC still large (one of the reasons for selling)
number of years owned: 24 years
value today: 633K
% of your net worth in house equity: 80%

#166 Interstellar Old Yeller on 02.14.17 at 8:45 pm

Own some REIT ETF units, that’s it for real estate for us.

#167 OffshoreObserver on 02.14.17 at 8:45 pm

Age = 63 no dependents but I treat my GF very well.

2.5 acres of residentially-zoned raw land in the downtown of small B.C. Interior town. The land was given to my Grandfather as payment for medical bills in the 1940s. Assessed value now $500,000. Zero improvements. I just pay the annual property taxes and visit every couple of years.

Property adjacent to mine subdivided into 27 strata-lots in a comparable area.

By my calculations and projections, putting a shipping container with aquaponic/hydroponic vegetable, herb and spice production improvements installed would yield about a $40,000/annum marginal income.

c.f. https://www.google.com.vn/search?q=freight+container+growing+boston&rlz=1C5CHFA_enHK728VN729&oq=freight+container+growing+boston&aqs=chrome..69i57.15592j0j8&sourceid=chrome&ie=UTF-8

A standard shipping container has a floor plate of 150 sq.ft.

So, assuming one container generates a net of $40k/annum, that is about $266/s
Lots are currently selling for about $80,000. If one can prove the income production from a single shipping container, then capitalize $40K/year at, say, 10%, that $80,000 lot becomes a value of $480,000!

Not only that, the occupants have fun and enjoy great health because they consume fresh produce.

I bought my GF a house she is building in SouthEast Asia–well, technically, I “lent” her the money, but it was only $25,000–go barf all you Canadian house owners!

Anyway, the deal with my GF and family is that they have to develop, monitor and maintain the shipping container.

We already have the shipping container. It is being used by her Father as an apartment and storage locker while she has the house constructed [Pictures later–I have to go to Vancouver for the Rugby 7’s there, Las Vegas, then to Hong Kong and Singapore.]

Watch for GreenGrowGlobal.net™ where we are going to turn the whole adventure into an online course.

Now, my $40K/year net was cloned from numbers in Boston, so, for example, the number in SouthEast Asian countries will be smaller, but so will their input costs.

But my goal is to double the per capita GDP with teaching people how to farm the shipping containers.

===========================================
My portfolio at 14/02/2017 – Land is 19%
MV % Port $ Chg BKV % Chg BK GAIN FROM 2011
1 – Cad Fixed $1,140,085 30% $514,085 122% $626,000.00 30.1% Fixed
2 – Cad Equity 647,013 17% $548,657 18% 98356.16 69.9% Equity
3 – US EQUITY 1,644,699 43% $1,005,996 63% 638702.72
4 – Other Equity 211,414 6% $222,743 -5% -11328.98
5 – Reits 140,159 4% $131,886 6% 8273.49
6 – Gold 1,146 0% $1,425 -20% -278.99
TOTAL $3,784,516 100% $2,424,792 56% $1,359,724.40

#168 Bernie on 02.14.17 at 8:45 pm

Multi-millionaire. Have not owned a house since ten years, waiting for market to tank.

#169 Raisemyrent on 02.14.17 at 8:45 pm

0

#170 Why? Why, Jay? on 02.14.17 at 8:46 pm

– down to 1
– 2012 – $565k
– 20%
– 9 years
– 46
– $290k
– 5 years
– assessed at $615k
– ~40%

M46BC

#171 Kelowna87 on 02.14.17 at 8:51 pm

Life long renter thus far
Age: 30

#172 Wrk.dover on 02.14.17 at 8:51 pm

#141 bigtowne , grreat plan, viable.

blinded by the light was Manford Man earth Band.

#173 OffshoreObserver on 02.14.17 at 8:51 pm

P. S.

I accidentally posted before concluding.

…anyway,

Take the following: https://www.statista.com/statistics/256547/the-20-countries-with-the-lowest-gdp-per-capita/

Clearly, you would take the cheap labour in, say. the lowest 20 countries and teach them how to produce veggies, etc. from the containers then ship the high value production to big-city markets, globally.

Why don’t our politicians and bureaucrats think this way?

I’ll keep the blog dogs posted, periodically.

#174 -=jwk=- on 02.14.17 at 8:52 pm

Three, all tradeups.
2015 208k new build, gated community, 45k down (rental, 1600/mo)
2015 built 1970 430k, 100k down (primary residence, 2.05% mtg:)
2017 built 1998, 180k, 100k down (rental, 1300/mo)

#175 nick on 02.14.17 at 8:52 pm

0

#176 PPSEZ on 02.14.17 at 8:53 pm

Do not own any RE
Only ETFs in RRSP & TFSA

#177 crowdedelevatorfartz on 02.14.17 at 8:54 pm

Sold late 2012
Invested.
Currently renting.
Zero equity in real estate.
Waiting.

#178 Melvin on 02.14.17 at 8:55 pm

how many houses do you own – 1
year of purchase and price 2012 – $685,000
% down 40%
age of house at that time 32 years
your age at that time 37
amount owing or number of years it took to pay off $360,000
number of years owned 4
value today $1,200,000
% of your net worth in house equity 40%

#179 D C on 02.14.17 at 8:55 pm

I’m a sucker for a survey ;)
• own 1 house
• purchased 1999 for $192000
• 25% down (actually 20% and borrowed other 5% from parents, paid back w/i 6 months)
• age: brand new
• my age: 25
• paid off w/i 9 yrs
• owned for 18y this year
• value today: ? $500000 (maybe 6? since nothing available?)
• % of net worth: ~50%

#180 Wrk.dover on 02.14.17 at 8:56 pm

I just worked through the comments and see not many people spend many years paying for a house.

I always thought someone would have to pay me to live in Toronto and after growing up there I left.

I missed the memo, nowadays people do pay you to live in Toronto…when you leave.

#181 -=jwk=- on 02.14.17 at 8:56 pm

Oh, 10 years in a non-public defined benefit pension plan worth about 25k/yr now, plus 150k in RRSP )maxed due to pension) and 150k in unregistered. Do the math if you want.

#182 Fuzzy Camel on 02.14.17 at 8:58 pm

First they monitor your tracks, then they apply the tax!

You know damn well they are going to spring a tax sooner than later. When that happens, people will still buy and nothing much will change! Real estate in Canada has become a cult!

Only thing going to stop this is raising rates. The sheeple are quite happy being milked dry for that overpriced OSB box. Financial suicide has never been so sexy!

#183 golden on 02.14.17 at 8:58 pm

no house 27 yr old 120k in balanced fund max tfsa max rrsp

#184 Ontario's Left Coast on 02.14.17 at 8:59 pm

Principal SFH, purchased 1996 in rural Ontario: $132K, 20% down, paid off in 5 yrs.

Muskoka waterfront cottage, purchased 2007 with 35% down: $420K, paid off 2015.

Building lot, road frontage Muskoka 5 acres: Purchased in 1999 for $23K cash.

$100K in Canadian REITS, non-registered :)

#185 StudentofGarth on 02.14.17 at 9:00 pm

how many houses do you own
1 SFD in 905
year of purchase
2006
price
$252,000
% down
15%
age of house at that time
18 yrs
your age at that time
27
amount owing or number of years it took to pay off
$0, 10 years
number of years owned
11
value today
$500,000
% of your net worth in house equity
46% (Rule of 90: <52%)

#186 sue on 02.14.17 at 9:04 pm

interesting when everyone is calculating cost of house no one adds in the interest they paid. i know i know you have to live somewhere. house COST 160 in 91 rates were 7 -8 percent ( and that was a deal at the time). prob PAID close to 300. figured it out many years ago and dont remember exact amount. but made sure to pay cash for recreational property as it was a disturbing amount. house now worth 450-500, not going anywhere. do the math its an eye opener!
we also bought half the house the bank said we could…

#187 Linda on 02.14.17 at 9:04 pm

Own one house (principle residence). Had it built new in 1984. All in price including lot – $94,000. $10K down, paid off in less than 15 years. While we likely could sell for more, our 2017 property tax assessment was $391,500. Have no intention to sell, will likely be carried out feet first or be forcibly removed to some care facility if prove unable to care for selves one day. Would estimate house makes up no more than 25% of total net worth.

#188 OKD on 02.14.17 at 9:09 pm

Own 1 house
Purchased in 2003 for $297k
26% down
House was a new build
33 years old at time of purchase
14 years to pay off
14 years owned
Current market value ~$625k
~50% of net worth in house equity

#189 amazon girl on 02.14.17 at 9:09 pm

Sold in 2008 and will never buy in Canada again.
Own 2 properties over seas paid it off
RRSP max out.
TFSA 100
Rent happy Just came back from 5 weeks away.
Smoking Man in CUBA WOW..
He will be smoking cigars now….

#190 Casey on 02.14.17 at 9:10 pm

1 House
2010 – 363000
10%
2001
26
304000
7
370000
19%
Kind of funny I bought this house off someone after the first crash. They paid 450 I came in and grabbed it at 363. Then the market recovered I was assessed at 420-430. Now its reassessed at 370. Welcome to Alberta the swing state.

#191 brew on 02.14.17 at 9:15 pm

how many houses do you own, followed by these questions…
1

year of purchase and price
1994 $170k

% down
25%

age of house at that time
new

your age at that time
40

amount owing or number of years it took to pay off
25k, ~4 years left to pay the mortgage

number of years owned
23
value today
~450k

% of your net worth in house equity
~50%

#192 CATPST on 02.14.17 at 9:17 pm

how many houses do you own: 1

year of purchase 2005

and price $170,000.

% down: 40%

age of house at that time: 40yrs

your age at that time: 41

amount owing or number of years it took to pay off:
9 yrs to pay off

number of years owned: outright? 3

value today: 300,000

% of your net worth in house equity: ~30%

#193 Saver on 02.14.17 at 9:20 pm

Own one house – primary residence
2006 for 435K
25% down
House 17 years old
I was 43 years old, hubby was 48
Paid off in 4.5 years (every spare $ went on that mortgage)
10 years owned
770K is property tax valuation
20% of our net worth

#194 Erick B on 02.14.17 at 9:21 pm

How many houses do you own? Zero

Status: married + 3 children, happily renting in the West End of Toronto.

P/R ratio >37, so according to Garth my landlord is a munificent god!

#195 Anon on 02.14.17 at 9:22 pm

#81, beware the CRA? Nah, my rental books are wide open, annual rental schedules by accountant, and taxes fully paid. And we still make good coin.

Without the rental income, our net worth would be about 95% RE, in our principal residence.

#196 Humpty on 02.14.17 at 9:24 pm

Sold House
$1million in bank.
Overvalued stock market
Overvalued real estate market
What is the point of having money?!?
There are people in the world who have nothing and here we are, the “intellectuals” with No intelligence, counting their pennies. The Greed in our society is Pathetic. The blind leading the blind.

#197 slick on 02.14.17 at 9:25 pm

#9 FlyingDodo

I would take a pencil to the idea of putting money into a RRSP.
you will likely pay more tax on the way out than you ever save on the way in.

#198 Derkavich on 02.14.17 at 9:28 pm

Derakich rents , no ownership

#199 Td on 02.14.17 at 9:28 pm

how many houses do you own: 3

year of purchase 98 01 16

and price 150k 115k 250k

% down: 5%. 20% paid cash for #3

age of house at that time: 20 90 40

your age at that time: 30 33 45

amount owing or number of years it took to pay off:
360k outstanding total on 1&2

number of years owned: outright? Only own #3 outright

value today: 400k 180k 250k

% of your net worth in house equity: ~50%

#200 Al on 02.14.17 at 9:29 pm

Own 2
2007 and 2015
1 is a rental
Rental is worth $300, was first house bought for $192 in 2007.. Turned it to rental in 2015 when we bought new home
New house bought for $375
25 percent and 40 percent down
25 year pay down timeline
1950 and 1964 houses
Age 35
Value today $300 and $550 (upgrades made to new house)
60 percent of net worth in real estate .. Rest in financial portfolio

#201 crowdedelevatorfartz on 02.14.17 at 9:29 pm

@#163 Devils Advocate previous post

https://upload.wikimedia.org/wikipedia/commons/thumb/a/ae/Flag_of_Cascadia.svg/500px-Flag_of_Cascadia.svg.png

++++++++++++++++++++++++++++++++++++

Nice flag of Cascadia .
It should have used a pot leaf instead of a Redwood

#202 Burnaby Bear on 02.14.17 at 9:30 pm

No house – sold a townhouse in 2004 started renting.

52 years old, married, 1 child

Rent a 2800 sq ft beat up place in North Burnaby for $2200/mo.

About $450,000 in investments.

#203 Leo Trollstoy on 02.14.17 at 9:31 pm

how many houses do you own, followed by these questions…

2 x 16 unit multi-family in FL. 32 units total. $25k USD per month rental income give or take

year of purchase and price
2009 $1.3m USD (was parity w CAD at the time)

% down
100%

age of house at that time
Buildings built in the 80s.

your age at that time
Old

amount owing or number of years it took to pay off
0 years

number of years owned
8

value today
$3.5m USD give or take

% of your net worth in house equity
60%

#204 NoName on 02.14.17 at 9:32 pm

how many houses do you own
1

year of purchase and price
2005, $253,000

% down
5%, but chmc ate half of it

age of house at that time
38 years, built 1967,

your age at that time
29

amount owing or number of years it took to pay off
0 owing, paying, but cheaper than renting

number of years owned
11.5

value today
$350,000+

% of your net worth in house equity
30-40%…

Great thing about house we live in is that: we are with in 10 min drive from 7 hockey arena, hwy, and all etncic food you can think of. 10min walking distance from schools and high school, bruce trail and snow hilll, but Harper and cons put an end to it.
Note for moist crowd you don’t belonge here we are all bill hillies, no sturbackses around. We like our re 3.5-4 income in a area, easy to sell.

And on a side note why is no Canada video like this one yet?

https://www.youtube.com/shared?ci=3qlLM5AiT-w

#205 Habs27 on 02.14.17 at 9:32 pm

2 Houses (1 principal res, 1 cottage)
2004 $349 000 principal res, 2007 $220 000 cottage
25% down
24yrs old
33 yrs of age
12 years….paid off…includes cottage
$720 000 principle res, $350 000 cottage
25% of net worth in R/E

#206 traderJim on 02.14.17 at 9:32 pm

I’m just waiting for the Government to start taxing taxes.

#207 not yet on 02.14.17 at 9:35 pm

rent our great apartment
own commercial property where our
Arizona business is located.
very small part of net worth.

#208 SW on 02.14.17 at 9:38 pm

1 house
Bought in 2002 for $50K
Paid cash
House was 60+ years old (probably 1930s)
Our ages were 57, 48. Both now retired.
Owned house for 15 years.
Today’s value ~$120K representing
15% of our net worth.

About $40K of renovations over the time.
Terrible investment, but great place to live!

#209 keeping y'all honest on 02.14.17 at 9:38 pm

Bought two condos in the Bay street corridor in 2001 and sold in 2010 for approximately double. Rented them to students during the holding period and sold when I started to see so much construction (much too early in retrospect). No financing used to purchase.
Renting since then in Bedford Park and moving to a new country in the coming months where real estate is relatively cheap to buy and expensive to rent. I will be purchasing there for about $500,000 USD. Current net worth is all liquid and stands at $1.3MM CAD in various currencies. My age is 33.

#210 Reformed Snorfler on 02.14.17 at 9:39 pm

1 house

purchased in 2015 for $205,000 ($20,000 below asking)

5% down (rest of proceeds from 1st house paid down some debt)

House was 43, I was 38

Currently owe $190,741

Owned for just under 2 years.

Slow market here in Northern Manitoba. Could probably get $205,000 but it would take months to sell. (There is almost nothing available to rent here.)

Counting pension assets, about 16% of net in equity.

#211 Blog Dog Joe on 02.14.17 at 9:40 pm

Alas, I am but a lowly renter (but not in a basement suite).

#212 Ms x on 02.14.17 at 9:43 pm

Bought house 290000 detached 7000sf lot
Year bought 2009
Age of house built 1956+ or –
Age when bought 42
Amount owing 252000
Time left remaining 28 years
% Down 5%
% net worth 100% nothing else
Current government assessment 328000
Payments including mortgage tax and insurance approximately 1400 a month
Currently I believe it makes me deplorable? Constructive advice welcome

#213 sunseeker on 02.14.17 at 9:47 pm

make a tiny portion of rent tax deductible….and we will see exactly how many rental suites there are in Vancouver.

#214 Biff on 02.14.17 at 9:48 pm

year of purchase and price
– 1993, $250k in Oakville (this was our 2nd house)
% down
– 60%
age of house at that time
– 25 years
your age at that time
– 31
amount owing or number of years it took to pay off
– $80k, in 6 years
number of years owned
– 24
value today
– $900k maybe more (whatever, she won’t sell)
% of your net worth in house equity
– 40%

#215 meslippery on 02.14.17 at 9:51 pm

Four houses on Baltic and one on St. Charles Place.
http://monopoly.wikia.com/wiki/St._Charles_Place
Rent $10.00 per stop.

#216 Tech Boomer on 02.14.17 at 9:54 pm

how many houses do you own: 1 in Metro Van
year of purchase and price: 1992, $242k
% down: 20%
age of house at that time: 81 years
your age at that time: 40
amount owing or number of years it took to pay off: 5 years
number of years owned: 25 years
value today: $2.7M (it’s been reno’d)
% of your net worth in house equity: 18%

Totally indifferent to the value of my house. Prices in Vancouver are a joke. Unless you’re OK moving away from family and friends RE equity here is as useful as Monopoly money. Would never buy at these hilarious prices. Renting was considered but vetoed by the dog who has a well-developed social life in our neighbourhood.

#217 Rainçlouds on 02.14.17 at 9:56 pm

#170

Springsteen wrote blinded by the light….. he hated their version.

#218 JakeR on 02.14.17 at 9:57 pm

$0, so 0%. I rent, have no real estate at all, and have an investment nest egg.

Given crazy prices in the GTA today, I’m not making any moves to change that.

Hopefully you’ll get more interesting posts.

#219 Lukeinlondon on 02.14.17 at 9:58 pm

Geez, thought wife and I were doing not too bad. Some folks numbers here are very impressive ( not like anyone would embellish on the Internet!)

1 house
2012, $337K
% down =5
House age = 2yrs
Our age = 28
Owing = 282
Today’s value = 415K

% net worth= 40

#220 LS on 02.14.17 at 9:59 pm

This is a great poll Garth. All those people buying houses at different times and in different markets for different prices. Any of them with properties worth less than when they purchased them? I didn’t see any. Good to know not too many people listened to the advice to cash in at the top over the years.

As for us:
One 39 year old house purchased in 2013 for $550,000 with 30% down when I was 29. Owing $285,000 on it and currently worth approximately $850,000.

Considering new value of house, about 57% of our net worth is in home equity which by pure coincidence is exactly how much we should have according to the rule of 90.

#221 KRM on 02.14.17 at 10:05 pm

– 1 house
– 2010 for $365,000 in Greater Edmonton
– 10%
– 4 years
– 20
– $150,000
– 7
– $360,000… doh
– 55%

#222 Diversified in Oakville on 02.14.17 at 10:05 pm

how many houses do you own, followed by these questions…
1 x Detached house
1 x Condo

year of purchase and price
House in 2010, $399,000
Condo in 2007, $169,000

% down
House 25%
Condo 25%

age of house at that time
House 28 years old
Condo 10 years old

your age at that time
House 50
Condo 47

amount owing or number of years it took to pay off
House $265,000 balance at 1.99%. No intention to pay down substantially.
Condo $145,000 balance at 2.45%. Rental unit, no intention to pay down substantially.

number of years owned
House 7 years
Condo 10 years

value today
House $700,000 – $750,000
Condo $250,000 – $275,000

% of your net worth in house equity
House 25% -27%
Condo 5% – 6%
Total 30% – 33%

#223 JP on 02.14.17 at 10:05 pm

30 years old, never owned a home
Live in Vancouver, Toronto before then
gross family income – $196k
Wish I’d bought in either city 4-8 years ago :(

#224 MediaBuff on 02.14.17 at 10:07 pm

Own: 1 house + 1 cottage

House:
Purchase: 2001, $250K
25% down
Age of house: 16 years
Age of owner: 27 years old
Time to pay off: 10 years
Value today: $450K
% of net worth: 33%

Cottage: Built myself, 1987-
Land, materials: $9,000
No mortgage, paid with newspaper route money, from Garth’s then-paper!
MPAC assessed value: $750K (as if)
actual Market value: ~$400K

#225 Capt. Serious on 02.14.17 at 10:13 pm

I’m jealous of people who bought a house for $250k who now find it worth north of $800k. Congratulations on winning the interest rate lottery.

Not going for full marks:
1 house.
40% down.
still owe $280k
house equity is less than 25% of net worth.

#226 Eric on 02.14.17 at 10:14 pm

Never owned real estate. Renting right now with a P/R ratio of 33.
Perhaps will buy in the future but would like to see things cool off a bit more.
100% invested in a balanced portfolio.

#227 Andrew t on 02.14.17 at 10:18 pm

Happily renting, thank you very much.

#228 R but anny for this on 02.14.17 at 10:19 pm

one (1)

2000 @ $135,000

25% down

60 years (full reno in 1980)

41 years (third house)

paid off in 3 years (sale of house #2 helped)

18 years so far

~$500,000 (not great eh)

25% of NW, not including DB pension

#229 T2 on 02.14.17 at 10:19 pm

Repost (posted to wrong thread-sorry admin)

T2s report, just for some perspective:

*how many houses do you own: 0, live at 24 Sussex in Ottawa, taxpayers pay the rent and all expenses (eg. monthly hydro is $10k), 24 Sussex assessed at $9.67m in 2016
*year of purchase and price: N/A, not necessary for me to mess with details like home ownership and banking
*% down: $0 by me, 100% by taxpayers
*age of house at that time: house built in 1866, were eligible to move in in 2016 (150yrs old at that time) but we wanted expensive renos done, estimated in the Nov ’16 National Post between $38-562m (Harper was fine without the renos) and Canadian taxpayers are beating down our front door to pay for the renos, according to Wild Bill
*your age at that time: 44 when we were eligible to move in
*amount owing or number of years it took to pay off: taxpayers will never stop sending the government money and my government continues to borrow, so never
*number of years owned: by me, 0
*value today: well after the renos it should be worth a lot more than $9.67m!
*% of your net worth in house equity:0

But it’s ok, I am transparent. And I understand home ownership. Since my Dad didn’t protect property rights in the Canadian Constitution, you could say myself and my government own all the homes in Canada!

I’ll sign off there as a lot of you have some heavy new tax paperwork to get on top of. For example, CRA tells me that half of the homes sold just in Vancouver last year had suites and half of those weren’t reporting the income. With average net rents of $1k and the penalty of 100% of the unreported income (and don’t forget the 5% interest rate…just because) just Vancouver taxpayers will ship me $1bn in extra taxes in April.

And you people wondered where the $ for the Paris climate change commitment would come from. Don’t worry! T2 to the rescue!!

Maybe you people should all be renters like me?

Toodles!

-T2

#230 WUL on 02.14.17 at 10:21 pm

“Now Judge, I got debts no honest man could pay. The bank was holdin’ my mortgage….”

Springsteen – “Johnny 99”

There is no point laying out the highlights of my lack financial of financial acumen here. Our host has painted my portrait a 1000 times on this deplorable* blog.

Idiotic boomer with a one asset strategy that might run out of money before my ticket is punched. Not likely with my lifestyle. My timing has always been perfect.

M61Ft.Mac

* Garth, could you start spelling “Deplorables” correctly? It is “Adorables”.

Youngsters, do what Garth tells you.

#231 PGer on 02.14.17 at 10:21 pm

how many houses do you own = 1 (our second)
year of purchase and price = 2004, 186K
% down = 70%
age of house at that time = 23
your age at that time = 44
amount owing / number of years it took to pay off =
approx 50K, 3 years (house needed lots of work and $)
number of years owned outright = 10
value today = $350K ish
% of your net worth in house equity = 15%

#232 Cici on 02.14.17 at 10:23 pm

This house-frigid female has 0% of her net worth in real-estate, but her very horny boy-toy is chomping at the bit, and can’t wait to bite the housing bullet…

But fortunately, his second brain is also firing on all cylinders. He’s good at math and so far all of his spreadsheet calculations have been telling him that buying in this market would be financial suicide.

And now that baby’s in the picture, he’s taken a huge interest in learning about different types of life insurance, TFSAs, ETFs, and the stock market in general. And today, he just opened his first Questrade account. Thank God he’s as smart as he is SEXY!

#233 gregra on 02.14.17 at 10:27 pm

1 Condo (Previous), 1 House (Current)

Condo:
Purchased 1999 @ 60k, 25% down, 12yr old property @ age 20.
Paid off 2008.
Sold 2009 @120k.

House:
Purchase 2009 @ 437k, 25% down, 23yr old property @ age 30.
Paid off 2014.
Current value ~500k, ~40% of net worth.

No dogs.

#234 genbizx on 02.14.17 at 10:30 pm

sold home in 2007…renting…waiting for sanity in the market

#235 South Etobicoke Trump Campaign Field HQ on 02.14.17 at 10:35 pm

Pretty sure I own several hundred residential apartment buildings and some commercial sites, at least fractionally, through the various REITs I own.

I rent. $1,280 per month with utilities and hydro included.

$319k in various securities, about $9,000 in cash.

29 years old.

Owning a decaying pile of plywood doesn’t appeal to me in the slightest, unless I can buy it at a steep discount. People in Toronto sacrifice so much to feign good living and erect a veneer of prosperity under crushing debt.

Will be looking for buying opportunities in the US when it comes time to knock the girlfriend up.

#236 John on 02.14.17 at 10:36 pm

how many houses do you own, followed by these questions…1 bedroom, Vancouver West End Condo
•year of purchase and price – 1983, $72,000
•% down – 15%
•age of house at that time – 7 years
•your age at that time – 27
•amount owing or number of years it took to pay off – 15 years
• number of years owned – 33 years
•value today – $500,000
•% of your net worth in house equity – 33%

#237 Calvin on 02.14.17 at 10:37 pm

Time to put pressure on Trudeau

Petition to the Government of Canada
Whereas:

Electoral reform was a cornerstone of the current government’s electoral campaign;
Canadians have waited patiently for the government to give a clear proposal as to how electoral reform will work;
No progress towards electoral reform has been publicly apparent during the year since the government first sat in session; and
Recent public information indicates the government may be backing off campaign promises to ensure electoral reform.

We, the undersigned, supporters of electoral reform, call upon the Government of Canada to 1. Immediately, declare its on-going commitment to ensuring the 2015 election be the last Federal Canadian election under the First Past The Post system.
2. In the coming weeks, clearly outline one or more proposals for how Canadian elections could operate once electoral reform is complete.
3. In the coming weeks, outline a firm timeline for public consultation regarding the proposals mentioned above, detailing the proposed timeline until introduction before the house of commons.
4. In the coming months, outline a proposed timeline for the introduction of an electoral reform bill before the House of Commons, detailing the proposed timeline until passage into law.

This link will take you to the sign up page.

https://petitions.parl.gc.ca/en/Petition/Details?Petition=e-616

#238 Wicked as it seems on 02.14.17 at 10:45 pm

Sold mansion in Victoria at peak 2007
600k in investments
TFSA 80k
70 k cask
Own nothing, rent everything
Living in Chiang Mai Thailand presently
66 years young
Last year Hail Mary, medical marijuana

#239 Piet on 02.14.17 at 10:49 pm

#59 Smoking Man

“Seriously.

I own nothing but a pair of 5 dollar Walmart flip flops.”

A few years ago Walmart sold one type of flip flop that was excellent. I wore a $6.00 pair for a year and found out that they were extremely durable. I really like the fact that they have velcro adjustment, which allows for a perfect fit on my unusually wide feet. Kept my eyes open and was able to purchase two more pairs, so now I have an indoor pair and separate outdoor pairs waiting at front and back doors. Unfortunately this superb model is no longer available for purchase, but keeping eyes open for similar quality flip flops. Walmart shopping is a key part of my retirement plan.

#240 Up in the Tundra on 02.14.17 at 10:49 pm

Second time poster. Love the blog, Garth… Don’t let the haters get you down.

Still renting after 7 years due to combination of circumstances and belief that housing is overpriced. So sick of hearing family talking about how much their house has gone up in value. Damn I wish for once I could be so openly smug about investments!

No house but $650k+ in investments pay the rent for me. The only source of stress is the attitude from the holier-than-thou landlord, but I like the idea posted here a day ago that all he needs is one call to the CRA tip line. He probably wouldn’t fare well with a financial colonoscopy.

#241 Nate on 02.14.17 at 10:56 pm

I am 32, don’t own a house but want to buy in the GTA for my young family.

#242 WUL on 02.14.17 at 10:58 pm

A good video of “Johnny 99” by Springsteen.

https://m.youtube.com/watch?v=KuYUxsl_F7k

WUL

#243 Peter.Engy on 02.14.17 at 11:03 pm

% networth in housing: 0
Not renting either. Flying around the world.

#244 ME Here on 02.14.17 at 11:07 pm

It seems like it would be pretty easy to catch CRA cheats… just make 5% of rent a non-refundable tax credit.

Pay $1200 / month, you get $60 as a non-refundable tax credit. NFTC costs the feds 15% of that, so a renter paying would cost the government $108… but it would instantly essentially create a register of all rented addresses and how much was paid.

The best way to catch cheats, after all, is incentivizing others to collect data. Although it wouldn’t be perfect data as people move… it should be easy to compile the data.

#245 Scott on 02.14.17 at 11:09 pm

1 townhouse
2008 $300,000
0 down
2 years old at the time
I was 28
Owe $270,000
owned 9 years
Value today is $350,000
49%

#246 Urban on 02.14.17 at 11:09 pm

1 condo, new build from 2006. Cost $260k.
I was 30 years old.
Down payment 60% ($160k)
Current value $450k
Net worth in Condo 60% (current net worth $688k)
Owned for 10 years
$39k mortgage left at 2.19%
Save 50% of net income for investments due to low cost of living.

#247 SJF in 312 on 02.14.17 at 11:14 pm

Leasing in downtown 312 for the past ten years. Leasing is a convenient lifestyle choice given our TN status and our desire to live downtown, vehicle free. Retirement accounts get our investment dollars.

#248 #242 Me here on 02.14.17 at 11:17 pm

The real estate/development industry is against a renters tax credit.

Politicians will be paid in brown paper bags to this effect.

#249 Paully on 02.14.17 at 11:28 pm

I rent, and love it!

#250 Paul on 02.14.17 at 11:30 pm

I have scrolled through the comments twice not found.

The one I really want to see come on Garth take your survey inquiring minds need to know. Lol

#251 yupkime on 02.14.17 at 11:30 pm

Does the tax credit for renters in Ontario in any way help CRA find undeclared income?

You would think that the NDP here in BC would be all over that … but probably alot of NDP house owners are renting their suites too.

Seriously some streets in Vancouver are so full of basement suites that people have to put out buckets along the street during the day to block out space or else nowhere to park their car in the evening …

#211 sunseeker on 02.14.17 at 9:47 pm

make a tiny portion of rent tax deductible….and we will see exactly how many rental suites there are in Vancouver.

#252 meslippery on 02.14.17 at 11:38 pm

After four houses I can buy the Trump Hotel??

#253 Forebiz on 02.14.17 at 11:39 pm

1 House
year of purchase and price: 2009 $510,000
% down: 60%
age of house at that time: 35
your age at that time: 30
amount owing or number of years it took to pay off: 0 owing, 3 years
number of years owned: 8
value today: $650,000
% of your net worth in house equity: 30%

#254 Deplorable Walmartian on 02.14.17 at 11:41 pm

#237 Piet on 02.14.17 at 10:49 pm

#59 Smoking Man

“Seriously.

I own nothing but a pair of 5 dollar Walmart flip flops.”

A few years ago Walmart sold one type of flip flop that was excellent. I wore a $6.00 pair for a year and found out that they were extremely durable. I really like the fact that they have velcro adjustment, which allows for a perfect fit on my unusually wide feet. Kept my eyes open and was able to purchase two more pairs, so now I have an indoor pair and separate outdoor pairs waiting at front and back doors. Unfortunately this superb model is no longer available for purchase, but keeping eyes open for similar quality flip flops. Walmart shopping is a key part of my retirement plan.
..
Working at Walmart is looking to be a key part of my retirement plan…. geez people

#255 Casey on 02.14.17 at 11:43 pm

Own 1 home/purchased in 2002 for $169,000/70% down/show home 1yr old/age 32/mortgage free in first 18mths/have owned for 14yrs/now worth $319,000/house equity 20% of net worth

#256 My data on 02.14.17 at 11:46 pm

3 properties (2 are rentals )

Primary residence purchased 1996. Was new .$265,000.

Aggressively paid the mortgage off. It’s fully clear .valued at approx $900,000. Put down approx 20% initially

2 rentals – have approx 40% equity in each . Both valued at around $110,000 each

Net worth in housing : approx 30%

#257 They just want the security on 02.14.17 at 11:55 pm

His wife and brother fled to Canada. Canada is the very wealthy Chinese back plan. It implies they have home and citizenship already in place to flee to Canada.

http://www.thestar.com.my/news/world/2017/02/11/missing-china-billionaire-taken-from-hong-kong-hotel-in-wheelchair–source/

#258 GreaterFool on 02.14.17 at 11:58 pm

2012 purchased a dog
100% down
the dog was a puppy
28 years old at the time
took me a day to pay off for the dog
6 years passed
The dog gives me negative $150 bucks/month
Dog represents 99% of my net worth, the other 1% is my shopping cart that I stole from walmart.

You nailed it, I’m homeless.

#259 Uncle Jim on 02.15.17 at 12:02 am

Just paid cash for my second home, 2000 sqft 4 bedroom in Welland $105K. Needs updating but solid 1920 build, thick oak floors, plaster, …

Just sold my first home, of 3 years in Hamilton for $300K after buying for $180K. :)

Got down + money back and a paid for my new bigger house where I let friends stay for free. Welland is great, no plans of moving, Semi-retired now, age 50.

#260 Dave on 02.15.17 at 12:04 am

House 1

2011 365,000
Current value 400,000
10% down
36% net wealth
29 when purchased
Currently owe 288,000 on house

#261 clever_title on 02.15.17 at 12:04 am

1 house,
purchased 1995, $248,000
20% down.
new build
Age 30 at purchase (second home – remember starter homes?)
Paid in 17 years (does anyone even remember 13% mortgages?)
21 years owned.
Worth probably $750K or so. Don’t really care. Gonna die here.
20% of total equity.

#262 Jes on 02.15.17 at 12:04 am

1 primary home built in 1954
Triplex – built in 1892
Mixed com./Res. – built in 1912

2012 – 600 k, my age 32, down payment – 20%, current value 1.2 m – mortgage balance 615 k

2009 – 385 k my age 29 – 10% down payment, Current value 1.3 m – CAP 4.5% net – mortgage balance 695 k

2016 – 1.1 m my age 36 – 25% down payment, currrnt value ( just reno’d) 1.6 m – 5% Net CAP – mortgage
balance 840 k. Own with 1/2 w family.

Net worth = 1.4 m after paying off additional debts
But 100% invested in real estate.

#263 tofician on 02.15.17 at 12:07 am

how many houses do you own
1

year of purchase and price
2002, 245k 3800 sq ft…with nice 2 bed rental suite Van Isle

5% down

age of house at that time
30

your age at that time
49

amount owing or number of years it took to pay off
12 years to pay off

number of years owned
still own

value today
600k

% of your net worth in house equity
30%

#264 Tim on 02.15.17 at 12:09 am

Pushing 37, never owned, currently renting in the GTA.

#265 yorkville renter on 02.15.17 at 12:10 am

Own 1 commercial property, bought 4+ years ago
80 year old building
paid $610k
25% down
now worth $1mm, and earns monthly income
equity represents 50% of net worth
I was 36 at the time

#266 Grand Master Wong on 02.15.17 at 12:13 am

Rent $1500/month
$1.5 Million Net Worth
40 yrs old, no plans to buy realestate near-term

#267 James on 02.15.17 at 12:22 am

how many houses do you own: 1
year of purchase and price % down: 2009; $284 000; 21%
age of house at that time: 5 years
your age at that time: 30
amount owing or number of years it took to pay off: $148 000
value today: ~$340 000
% of your net worth in house equity:43%

#268 Colin on 02.15.17 at 12:22 am

Never owned (home, condo, etc…). Always rented.

#269 Trev on 02.15.17 at 12:23 am

Too much personal info Gartho, if Hillary can be hacked so can you. Big Brother is watching more every day. All I’ll say is I own a pair of places, the CRA is fully aware of both, and I report income and expenses honestly and to the penny. Tax sucks, but so does jail, and not sleeping at night worried you’ll get found out and have to go through audit and back tax hell. Play by the rules, or get out of the country and go somewhere else with different rules.

Primary residences will never be taxed in Canada…Political Suicide. Can you imagine someone who bought in TO in say 2011 for $500k…Sells in 2017 for double…Gets hit with capital gains tax to the tune of 51% marginal rate…and can’t afford to buy their own house (or equivalent) back? No one would ever move. You think we’ve got a bubble now…wait until every moister buys the biggest shack they can because a)they can’t afford to ever sell and move again and b)the interest, property tax, utilities, etc are now tax deductible. Not ever going to happen.

Sucks that cap gains taxes are going up…it’s a tax on inflation. I was hoping to sell that 2nd place of mine for a nice, 50% exempt gain someday….sigh. Not sure it’s worth even trying anymore. Might as well cash out, live simple, get a union job. Brainless work, zero stress. Work-to-rule, job security. No thinking, no worrying. No 16 hour days. No employees. There’s no incentive left to work hard. Might as well live off the government and just focus on staying happy, spending time with kids, collecting EI as often as possible, and being healthy. High stress, high responsibility, high reward is only worth it if the reward is there…once it’s not, well…Here’s hoping there’s still people left dumb enough to be net donors to this socialist experiment in a few years…think I’ll downsize my lifestyle and semi retire at 35.

#270 Astronaft911 on 02.15.17 at 12:28 am

– in the process of buying our first house, in Calgary, for $535K
– house 28 years, me and wife 38 y.o.
– 20% down, which is about 15% of our net worth
– mostly stocks portfolio approx $700K, all reg.accounts maxed out
– family annual income $250-270K

#271 karl on 02.15.17 at 12:28 am

1 house–bought in 78 for $13,000. Paid off in 82 I’ve remodeled the hell out of it.
It might sell for $65,000 1200 sq ft. -500 sq. ft. garage. Not much of a neighborhood, but 5 miles or less from lowes, home depot , menards, walmart. 3 large food stores 4 smaller ones(like aldi ).
In the summer I don’t turn on the car for 2 or 3 days, just use the bicycle.
2nd largest metro area in northern Illinois.

#272 Nate on 02.15.17 at 12:29 am

1
2010 year of purchase and price
10% down
35 age of house at that time
24 your age at that time
142,0000 amount owing or number of years it took to pay off
5number of years owned
420,0000 value today
30% of your net worth in house equity

#273 J. Lucke on 02.15.17 at 12:45 am

how many houses do you own?
one

year of purchase and price
2016, $412,000

% down
100%.

age of house at that time
16

your age at that time
70

amount owing or number of years it took to pay off
0

number of years owned
<1

value today
~$425,000

% of your net worth in house equity
~22%

#274 greyhound on 02.15.17 at 12:45 am

1 house purchased 2006 ~20% of net worth…

#275 Half Full on 02.15.17 at 1:00 am

Rent

#276 Greg on 02.15.17 at 1:06 am

1 house; 6 rental condos

House bought 2005 $325k; rentals between 2009-13 $50-85,000 each arizona

25% down house; condos bought with ~50% down.

House was new in 2005; condos new in 2005.

Age 30 for house; age 34-38 when buying condos.

house paid off in 2015 (10 years); condos about 75% equity now.

House value $600k today; condos ~$800k total.

% of your net worth in house equity ~50%

At 41 now,I’ve had good jobs but nothing special. Avoided debt, look for opportunities invest a % of your earnings, just keep grindiing. I don’t feel rich but on paper it looks good I guess.

#277 Your revolution is over Mr. Lebowski on 02.15.17 at 1:08 am

Card-carrying 1%er, living in Vancouver, no real estate exposure.

#278 Bob5593 on 02.15.17 at 1:10 am

Own 1 home
2013, $550k
30% down
20 year old house
I was 34 yrs
Owe $300k still
4 years ownership
Value today $750k
35% of net worth in real estate.

value today
% of your net worth in house equity

#279 Thelma on 02.15.17 at 1:18 am

-Own 1 house (Calgary Condo)
-Bought in 2009. Purchase price $262,000
-Paid Cash
-Totally gutted and refurbished 30 yr old concrete building
-Age 52 at time of purchase
-Owned 7 years
-2017 assessment $257,00
-25.5%

Three units in the building have been for sale for a long time but signs are gone now, replaced by “For Rent”.
What I fear now, and see is starting to happen, is all those who drank the lets-buy-a-condo for income kool aid will discount rents just to get something, anything, resulting in a migration from Forrest lawn. There is a constant stream of homeless bottle pickers going through the dumpster. We’ve hired a security company to patrol over night.

Was talking to the lock guy and he said a guy on his street with an illegal basement suite used to rent for $1100/month now its down to $500. Still no takers except the deplorables. Seems there are a lot of desperate people who over bought and thought they could make up the difference with the rental unit.

I also notice they are throwing in the towel and removing the crane from an office building at Elbow and 50th that got as far as the underground parking. How stupid was that. How are they going to keep the homeless out of that I wonder.

#280 mr noodles on 02.15.17 at 1:22 am

despite loosing nearly 10 percent of its housing stock in may ,fort mcmurrays January house prices should make moisters wish they were wearing depends.
check out fort mcmurray real estate board horror figures for jan 2017

#281 Brando on 02.15.17 at 1:34 am

Never bought real estate.
200k in business
90 in RRSP
10 in TFSA
5 in precious metals
35 years old
Would like to buy soon if prices pull back.

#282 i plan to live in vancouver forever on 02.15.17 at 1:48 am

3 properties owned with family

year of purchase and price: 2012-2016

% down: more than 20%

your age at that time: 29

amount owing: 2.4M

value today: 5.2M (estimate only)

% of your net worth in house equity: aside from maxed out RRSP and TFSA, everything is in real estate.

Our plan is to hold long term for eventual densification and redevelopment of where the properties are.

I am single, work in healthcare, and live at home.

#283 diharv on 02.15.17 at 2:30 am

Own 1 house in central BC
Purchased in late 2010 for $375000 cash
House was 28 years old at the time
I was 46 at that time , 52 now
Today assessed at $384800 – prices are actually realistic here
12% of net worth tied up in the house

#284 NV Landlord on 02.15.17 at 2:42 am

Own ONE condo -50 yr old bot 1992
Own one cottage -50 yr old 1995
Own two rental condos 50 yr old – rent $30,000/yr total
Vacant land on Howe Sound – ancient
time share in Mexico – worth its weight in gold
partner in Phoenix multifamily complex
All paid off : value $2 million; – less than 50% of net worth. My age – grey beard!

#285 Lolo on 02.15.17 at 2:44 am

Own 1 condo for principal residence; have since moved out and currently renting it out. Renting principal residence.

year of purchase and price – 2009, $400K
% down – 69%
age of house at that time – pre-construction
your age at that time – 37
amount owing or number of years it took to pay off -95K
number of years owned – 8
value today – 550K??
% of your net worth in house equity – 33%

#286 NV Landlord on 02.15.17 at 2:48 am

one condo: principal residence 1992; 160,000 now 300,000
one cottage: 1995; $50,000 now 200,000
two rental condos; 1995 $200000 each now 300,000 each
vacant land on Howe Sound $200,000 now 400,000
time share in Mexico – worth its weight in gold
investment with partners in Phoenix multifamily townhouses- 2015 – $100,000 US$
% of housing of portfolio 40%
my age – very grey beard!

#287 Karma on 02.15.17 at 2:49 am

“how many houses do you own?”
2 condos – 1 in Van, 1 in London, UK

“year of purchase and price?”
Van in Q3 2015 ($219k), Ldn in Q3 2012 ($219k CAD-equivalent)

“% down?”
Van – 21%, Ldn – 45%

“age of house at that time?”
Van – 2 years, Ldn – 0 years (pre-sale)

“your age at that time?”
Van – 31, Ldn – 28

“amount owing or number of years it took to pay off?”
Van – $170k, Ldn – $112k CAD-equivalent)

“number of years owned?”
Van – 1.5 yrs, Ldn – 4.5 yrs

“value today?”
Van – $280k, Ldn – $369k CAD-equivalent)

“% of your net worth in house equity?”
~58%

#288 fishman on 02.15.17 at 2:56 am

I don’t have my name on house ownership anymore. Years ago sold & went to work with my tax free money . I rent from myself, or more correct, I rent at market value from a privately held limited company (I am principle owner). I’ve used up every possible legal loophole, (or at least my beloved CA has I hope). The company is a small(as far as co.’s go), fat,debt free, cash rich entity. A taxman’s wet dream. And if they raise capital gains they’ll gorge even more.

Value of residence? Couple mil, who knows what anything could be worth on Van westside anymore. At least I don’t have to worry about “tax planning”. I’ve made all my moves, nowhere to run, nowhere to hide. The Feds grinning like vultures over a sure thing “he sells or dies & we get to plucking.

You can go this way if business revenue is non-passive, run a payroll etc. You gotta be legit. The first time you get audited you’ll realize tax auditors can spot a turd in the butter barrel at a glance at the balance sheet. Welcome to the world of gut aches when you get your first audit notice from CRA. Hire a CA your own age first thing if you want to run your own show. Stay with sole proprietorship unless your taxable reaches $100,000
& it looks like it will grow. Defer, defer, get your money working now & pay the G man later.

#289 eli on 02.15.17 at 2:58 am

0 houses owned
age 26

#290 Slippery cricket on 02.15.17 at 3:01 am

1 house
1997 for 200,000
60% down
New build
Me 36 y/o at that time
7 years to pay off
20 years in the home and counting
Current value $375,000
25% of net worth

#291 David on 02.15.17 at 3:13 am

Finally broke down and sold the westside Kerrisdale , Vancouver detached on a 33 foot lot for $225,000 above the asking price in April 2016. Took the money , paid down all the debt , put 80% of the remainder into the market and have made another quarter million to date, with about $200,000 of cash still waiting for the right opportunity. 77 years old and found a nice 7th floor apartment with two bedrooms for $2,500 per month. just waiting for the next rent increase, but I think there’ll be enough for that and to bury me when the time comes. All from $2,000 saved in 1967 when wages were $750 per month. Now maxed to TFSA and living off capital and my OAP and CPP. It;s a good life!

#292 Stock picker on 02.15.17 at 3:41 am

How would a withholding tax work when buyers need the entire principal to complete the purchase on a new home? Knowing the CRA , the audit adjustment period before releasing said funds could take months. Have you ever tried to probate an estate when the deceased had investments and real estate that must first be passed through by CRA…..it can take two years and more.

How does the government justify a capital gain tax on homes when they have already double taxed the owners with non tax deductible income taxes and fees? The owners have paid their mortgages with after tax dollars.

In order for this tax grab to take place the government would have to make mortgages and ownership costs tax deductible every year.

What is the real capital gain for an owner over fourth years…net of costs. , taxes and inflation….opportunity loss etc etc etc…..as if he ran his purchase like a taxable business?

The Liberals are using a rather large mallet to hammer down an unmentionable foreign buyer . The libtards are so politically correct they can’t say China and Foreign buyer in the same sentence.

The pretence that all homes are immediately taxable will not stand the millions of court challenges which would fly at Ottawa with the fury of a wasp nest after the stupid boy with his stick. Enough is enough from stickboy.

#293 Stock picker on 02.15.17 at 3:43 am

Should read. “Owner over forty years”…..damn auto correct.

#294 Rakiki on 02.15.17 at 5:19 am

how many houses do you own = 1 in Ottawa
year of purchase and price = 2005, 277K
% down = 75%
age of house at that time = about 20
your age at that time = 20s
amount owing / number of years it took to pay off = $0, paid off in 3 years
value today = $400K
% of your net worth in house equity = 20%

#295 Bob on 02.15.17 at 6:14 am

I own one high rise condominium in Edmonton. bought in 1992 for $120,000. 30% down and building was 12 years old at the time. Paid off in six years and I was 37 years old when purchased my first and only property. I have owned it now for for 26 years and it is now worth $290,000 which is about 30% of my net worth

Thanks for the blog Garth!

#296 Zoe on 02.15.17 at 6:16 am

Sold our house may 2016, in the overinflated Hamilton market $$$. Currently renting while we build our camper van to live and travel in full-time.

#297 Nick on 02.15.17 at 6:20 am

Houses owned: 0

Motorcycles owned: 2

#298 B Don on 02.15.17 at 6:32 am

Own one home.
Bought in 2013 for 720K when I was 29 with my wife.
20% down
House was 7 years old.
Mortgage now sits around 315K (additional lump sum paid following sale of previous primary residence)
Would likely go for North of 900k today.
About 55% of NW in my house.

#299 Tron on 02.15.17 at 6:38 am

I don’t own I rent a one bedded

Although my landlord in Toronto has asked if I’d be interested in buying this 6 suite brick semi in riverdale which I .live in..

Garth, are you for taxing these windfall gains or against it? I get the feeling you don’t like the govt sticking their nose in but don’t have sympathy for those over extended either.

#300 SueP on 02.15.17 at 6:48 am

Rent, never owned.

#301 Millenial on 02.15.17 at 6:53 am

Don’t own any real estate. I’m 34, live in Toronto, only been working for 5 years. Not interested in a condo as they’ll all be worthless one day: more of a liability than anything with property taxes and maintenance fees and special assessments. One day i’ll buy a detached piece of property, but not today.

I’m sitting on a healthy piece of cash and am a 1%er so i could make the plunge now, but won’t. It’s a matter of principle and equity for me. I refuse to subsidize an incredibly generous retirement for some public school teacher, or middle-level city bureaucrat, who probably purchased their property years ago at a cost of only a few years their income.

Anybody who owns a detached (or even semi-detached) home in Toronto or Vancouver has hit Lotto 649. Me, i have a set of numbers I play every wednesday and saturday. If i ever do win, i still won’t buy property.

BTW, super-jealous of you braggadocios with killer TFSA sums. I’m down about 10% in mine. :(

#302 sean on 02.15.17 at 7:03 am

– one house on 5 acres with barn ~1 hr drive from Toronto
– purchased in 1997 for just under $300k
– 25% down to avoid mortgage guarantee fee
– house was 25 years old
– we were 30 years old
– 17 years to pay off
– owned for 20 years
– assessed for $750k (but not thinking of selling nor expecting we would actually get this if we did)
– house is ~35% of net worth

#303 att on 02.15.17 at 7:04 am

1 house
2015 $735K
50% down
20 yr old house
37 yr old guy and 35 yr old girl
owing $290K
owned for 2 yrs
value today is apparently $850K but would prob end in a bidding war for $950K
50% of net worth in house

#304 ClosetGarthFan on 02.15.17 at 7:07 am

Sold house three years ago, now renting. Missed peak sales price, but happy to be out! All of our loot is stashed in a well balanced portfolio with long term view.

#305 Laura on 02.15.17 at 7:09 am

Own one condo
Purchased for $220,000 in 2015
5 % down
age of condo was 15 years at that time
I was 28 at that time
$200,057 owing
Owned for just over 2 years now
Value today is bank appraised at $310,000 realtor appraisal if that’s even a legitimate value $340,000
Approximately 41% of my net worth is in house equity

#306 Kevin on 02.15.17 at 7:19 am

year of purchase and price
1994 – 148,000

% down
10%

age of house at that time
New

your age at that time
27

amount owing or number of years it took to pay off
Owe 150K

number of years owned
23

value today
300,000

% of your net worth in house equity
45%

#307 David55 on 02.15.17 at 7:22 am

1 house
for $180,000 in 2000
33% down
3 yr old at that time
My age was 45
Paid of in 12 years
Currently assesses $320,000
15ish % of net worth

#308 905 Dog on 02.15.17 at 7:24 am

1983 bought from builder plans, moved in 1984.
Price 220k with

#309 905 Dog on 02.15.17 at 7:37 am

Sorry folks…1984 220k$
We put 30k down, moved in with a 90k mortgage, took 7 years of austerity living to pay it off.
Today’s value after living in house for 33 years is 2m$. The Chinese like our neighbourhood, the only reason price is so high.
We have saved an equal amount. Full retirement scheduled for this summer.

#310 Mishuko on 02.15.17 at 7:41 am

Basement dwelling mould collector.

I tried to qualify for a 400k mortgage but bank said no. That was with 10% down and no debt. Oh well. I can wait.

#311 William on 02.15.17 at 7:46 am

how many houses do you own = 1
year of purchase and price = 1995; $144,000
% down = 25%
age of house at that time =115 years
your age at that time = 30
amount owing or number of years it took to pay off = 400K
number of years owned = 22 years
value today = $1,300,000
% of your net worth in house equity = most

#312 Tony Montana on 02.15.17 at 7:49 am

Own 1 home
Purchased in 2004 for $1,600K
60% Down
New Home
I was 33 at the time
0 Owing
$4,500K today
64% of Net Worth

#313 The real Kip on 02.15.17 at 7:56 am

Owned my own house all my life, divorced and stated over in 2000.

Built my own house in 2010.
Current house value, $600,000.
Current mortgage, $42,[email protected]%.
Percent of net worth in the house, ~40%.

Not worried Justin will tax house appreciation on principle residence. They are after speculators and investors.

#314 some MB guy on 02.15.17 at 7:58 am

– own 1 home
– purchased in 2007 for $190,000
– 10% downpayment for a 50 year old house
– purchased home when I was 38
– still $91,000 owing.
– project mortgage paid in total of 13 years
– have been in home for 10 years
– current value is $255,000
– 70% net worth in house equity

#315 PAT on 02.15.17 at 8:01 am

how many houses do you own, followed by these questions…
one

year of purchase and price
1996 $235k

30% down

16 years /age of house at that time built 1980
31 your age at that time
40k owing on mortgage / 140k owing vs stock portfolio /// amount owing or number of years it took to pay off
21 years number of years owned
700- 800K value today (recent silly sales on our street)
just under 30 % of your net worth in house equity

I have borrowed against equity to build a stock portfolio

I drive a $2000/ 2003 car in the winter … I have another car for the summer I paid 7k for

My wife retired last year at 50… with a work pension
I still ride my bicyle from Brampton to the Belfountain General store… and admire your boots

#316 Nathan on 02.15.17 at 8:04 am

Year and Price: 2007 – $193,000
% Down: 5%
Age at that time: 27 years
My age at that time: 21
Amount Owing: $162,000
Number of Years Owned: 10 (in June)
Value Today: $117,500 (city assessment)
% of net-worth in house equity: What equity?

#317 OddTodd on 02.15.17 at 8:05 am

– 1 house
– Purchased in 2010 for 212k
– 42% down (90k)
– 43 year old house at purchase
– 25 year old buyer at purchase
– 88k left on mortgage, roughly 13 years remaining
– 6.5 years owned
– currently worth approx 260k (mostly inflation adjustment)
– home equity represents 53.8% of my total net worth and dropping (your rule of 90 says my max should be 58%)

My neighbours recently sold for 290, 300, and 325 but they had new kitchens, bathrooms, etc. All I’ve done is put in a privacy fence and new shingles. The kitchen and bathrooms in my house were “newish” when I bought so I didn’t bother with them. I do have the benefit that I back onto greenspace whereas they did not. If I had a realtor tell me I could get 325 for my place right now I’d switch to renting and invest my windfall

#318 Garth's anti-example ;) on 02.15.17 at 8:06 am

How many houses do you own:
4 – a house, a townhouse and 2 condos.
Year of purchase and price:
house – 2003 for 416K, town – 2008 for 250K, 1 brd condo – 2010 for 222K, 2 bdr condo – 2011 for 581K.
% down – 20% on each
Age of house at that time – all brand new
Your age at that time – 34 at the time of a first one
Amount owing – still lots, on target to be debt free by retirement though
Value today:
house – 650K, town – 300K, 1bdr condo – 300K, 2 bdr condo – 600K.
% of your net worth in house equity – 100% (unless you count in DB pension)

#319 Dominoes Lining Up on 02.15.17 at 8:15 am

Interesting to hear more talk about guaranteed incomes, coming at us full speed. Pilot sites are rolling out right now.

http://kitchener.ctvnews.ca/a-guaranteed-basic-income-could-be-coming-to-ontario-residents-1.3241135

This, of course, is a direct result of this:

http://www.canadianmanufacturing.com/operations/40-per-cent-of-canadian-jobs-could-be-lost-to-automation-mckinsey-co-chief-says-183865/

So many will lose jobs to automation. Guaranteed incomes will mean up to $29,427 annually. No need to be pressured to show you’re always hunting for jobs, since there won’t be that many anymore.

This will make it perfectly reasonable to disperse yourself across the province, where housing is much cheaper, as shown by some posters today with their much lower home prices in less urban areas.

On the other hand, this will make it useless and stupid to “invest” in slanty semis in Toronto costing $900,000.

And really, all the 416ers talking about all the cultural amenities of city life are too busy struggling to pay off their debts to really enjoy them, so what’s the attraction after all that?

$125,000 should be more than enough to buy a home in Ontario in the years ahead.

So…….a 60-80% collapse in Toronto home prices (more in the 905) seems much more probable now.

Don’t you agree?

#320 B on 02.15.17 at 8:17 am

31 Years old
Married with Wife
Both Professional Engineers
Renting in Ottawa
No Real Estate, liquid and loving it
Net worth in the $250K range with a bundle of joy on the way! Would like to stake out a house at some point so kids can stay in the same school, but thats my only motivation to do so.

#321 ottawa on 02.15.17 at 8:23 am

• how many houses do you own: 1
•year of purchase and price: 1995, 175K
•% down: 10% (RRSP)
•age of house at that time: 20
•your age at that time: 32
•amount owing or number of years it took to pay off:$0, 15yr
• number of years owned; 22
•value today: 400k
•% of your net worth in house equity:15%

#322 Kathleen on 02.15.17 at 8:23 am

1 house
2009, $160,000
5% down (I know, bad! but it needed renos)
Built in 1906
My age then: 30
Owing: $90,000
Value today: realtor valuation done 2 weeks ago – $475,000
60% of net worth in house equity

#323 ALFRED E. NEUMAN on 02.15.17 at 8:33 am

how many houses do you own:
one

year of purchase and price:
2013, 400K (reno’s since at 135K – garage build etc)

% down:
PIF (paid in full at purchase)

age of house at that time:
81 yrs, built 1932

your age at that time:
61

amount owing or number of years it took to pay off:
zero owed at purchase (per above)

number of years owned:
3 1/2

value today:
$500K

% of your net worth in house equity:
12.5%

Cheers ..

#324 Artie Fuffkin on 02.15.17 at 8:34 am

*Own no real estate
*First bought in BC interior in 1998 for $135,000. $45,000 down Age 31. Home was 15 years old at the time.
*Bought and sold in several locations in Canada for 17 years. Never paid any of them off. Don’t know what the first house is worth, Maybe $400,000.
* We have zero net worth in real estate now. We’re renters and investors now.

#325 Market Marker on 02.15.17 at 8:34 am

1 house
Purchased in 2001 for 290K
Put 25% down
New Build,
Was 30 years old,
100K left on the mortgage,
Owned for 16 years owned,
Valued at 900K
66%

#326 Samantha on 02.15.17 at 8:38 am

#9 FlyingDodo on 02.14.17 at 4:30 pm

…The closest I will get to owning real estate is through the purchase of REITs, if that.

———————————————–

Just wait until you get married… :)

#327 Keith on 02.15.17 at 8:38 am

0 homes owned

$196k net worth (TFSA: $75k, RRSP: $35k and DB pension: $86k transfer value)

30 years old

#328 BobC on 02.15.17 at 8:40 am

Mr. Turner, you have a rule of thumb to to speak about how much your home should be worth as a % of net worth. 90 minus your age should be the % you have invested in equity.
Do you have one on the safe/growth investments? I now have 60% growth and 40% safe. I’m 67 and retired. Should I stay 60/40 or maybe go to 50/50 or even 60/40? Do you have a rule of thumb for that based on age?

#329 milleniallmoose on 02.15.17 at 8:41 am

I rent instead of own. I’m one of those millenials (25) that missed the boat by a long shot. Last year I considered buying a condo and after experiencing the obscene bidding wars and prices for shoddily built boxes I opted out. 90k investment portfolio though so I’m happy.

#330 Dude Duderson on 02.15.17 at 8:44 am

how many houses do you own: 1
year of purchase and price: 2010 – 159k
% down – 10%
age of house at that time – 38
your age at that time – 22
amount owing – 109k
number of years owned – 7
value today – 240k
% of your net worth in house equity – 70% (not including DB pension)

#331 Centre Wing on 02.15.17 at 8:54 am

year of purchase and price – 2012 and $259k
% down – 5%
age of house at that time – 34
your age at that time – 25
amount owing or number of years it took to pay off – 25 year amort
number of years owned – 5
value today – maybe $340k

#332 Suzie Q on 02.15.17 at 9:04 am

‘Own’ one home
Purchased 2013 for 310k
% Down: 5%
Age of home in 2013: 37
My age in 2013: 38
Amount owing: 272k
Number years ‘owned’: 4
Value today: assessed 330k, actual based on sales comps 295k
% Net worth in equity: 20% (based on sales comps)

From a greater fool in SK

#333 suburban coyote and pup on 02.15.17 at 9:06 am

1 house bought 2001 for 288k Halton area 25% down
refinanced for divorce 2007 and had to start over with mortgage
-severed a lot from property 2016 for 595k
-current value of remaining property 850k mortgage of 65k
-have dbp of 1.2k and other assets of approx 600k depending on CRA
-real estate has been good to me!

Onf51

#334 Observationist on 02.15.17 at 9:06 am

I find it interesting that this thread has about 30% more comments than average, I quess people like to boast. I remember in my hometown their was lawyer and farmer in my hometown, lawyer drove around in Audi giving that impression of wealth. He later went to prison for fraud, turns out he didn’t have a pot to piss in. The farmer drove old pick-up truck and worn clothing, he could have passed for a homeless person. It turned out the farmer had two million in property and cash. Never judge a book by it’s cover.

#335 FrankTheTank on 02.15.17 at 9:08 am

1house, full detach 2storey, ravine lot, parkview hills
Oct 2014, 890k
20% down
Full gut job, like new now
31/37
690k owing, 18yr am
1.3mil value today
60% of our net worth in house equity, balance in maxed tfsas, rrsps, etc.

#336 Occam on 02.15.17 at 9:17 am

– I own 1 home, my principal residence. Bought in Mar 2014 for $630k. In Toronto.
– 20% down.
– Brand new at purchase.
– I was 32 yrs old.
– Current mortgage outstanding $450k.
– I still own, so 3 years.
– Worth about $850k today.
– 45% of my net worth is tied to home equity. 53% is in a portfolio of stocks I manage myself. 2% in cash.

#337 Crawford Park on 02.15.17 at 9:21 am

I own 1 house
year of purchase and price : 2006/$265,000
% down: 15%
age of house at that time: 59
your age at that time: 37
amount owing or number of years it took to pay off
number of years owned : $140,000
value today: $400,000
% of your net worth in house equity: 43%

#338 Steve-O on 02.15.17 at 9:29 am

One house
2010; $245K purchase price
21% down payment
170 year old house
38 year old owner
$111K remaining
6 1/2 years owned
worth $250K today – rural NB village where most property values have dropped noticably
44% of net worth in house equity

#339 Guy Fawkes on 02.15.17 at 9:33 am

Sold Niagara house in July 2016, now renting in same hood with mine and wifes TFSA and kids RESP maxed.
5% REITS
I sleep much better. Thank you Mr. Turner!

M41ON

#340 The Technical Analyst, CSTA, CPD on 02.15.17 at 9:37 am

How many houses do you own: 0 (owned 3 in the past)

Could buy anything but have chosen not to buy in this market.

We rent in K-W for $1425/mo, 2 bdr, “luxury condo”.

#341 Hip Regina on 02.15.17 at 9:43 am

• 1 house, 1 condo that I rent
•bought near the top in 2014 for 399K
•20% down
•92 years old, yeeps
•31
•still have $250K
•$350K probably
•60% of my net worth is wrapped up in there

#342 cmccullo on 02.15.17 at 9:48 am

Bought a country property in Ottawa, 1996. Sold, net 50K
Stupidly bought house in suburbs – sold for 15k more than we paid, but still wasted money on fees.

Renting in the city since 2007. 15 minute commute, no property taxes, no renovations, no repairs.

Prices are laughable – people, just save your $.

#343 IHCTD9 on 02.15.17 at 9:56 am

#299 Millenial on 02.15.17 at 6:53 am

—–

Smart!

#344 MAC on 02.15.17 at 10:00 am

Real Estate Survey
USA Residents (dual citizens CAN-USA)
# of Houses: 5
1: Cdn Cottage-seasonal
2: USA principal residence
3: Mexico rental, sched 5 USA 1040 since 2013
4: Mexico rental, sched 5 future
5: USA vacation/retirement residence
Purchase Dates / Ages of Dwellings / Prices
1: 2005 / 1890’s teardown / $300,000 for island land
2: 2013 / 2007 / $910,000
3: 2012 / Ancient historical casa / $310,000 reno’d, furn.
4: 2015 / Ancient casa ruin / $42,000, reno in process
5: 2017 / 2007 / $2,350,000 furnished
Down payments
1: all cash
2: 55%; 3.125, fixed 30yr mortgage
3: cash
4: cash
5: cash
Buyers ages 43-54
Today’s value
1: $1,000,000 best guess
2: $1,200,000 zillow
3: $380,000 guess
4: $42,000 rubble pile
5: $2,487,000 zillow
% of Net Worth- silly calc., never look at augmented NW
35%

#345 IHCTD9 on 02.15.17 at 10:04 am

#332 Observationist on 02.15.17 at 9:06 am
I find it interesting that this thread has about 30% more comments than average, I quess people like to boast. I remember in my hometown their was lawyer and farmer in my hometown, lawyer drove around in Audi giving that impression of wealth. He later went to prison for fraud, turns out he didn’t have a pot to piss in. The farmer drove old pick-up truck and worn clothing, he could have passed for a homeless person. It turned out the farmer had two million in property and cash. Never judge a book by it’s cover.
________________________________________

Lots of properties and mortgages listed above that are pretty normal, and nothing to brag about (mine included). I find this kind of info interesting, and I’m already noticing some trends :).

#346 IHCTD9 on 02.15.17 at 10:09 am

#327 milleniallmoose on 02.15.17 at 8:41 am
I rent instead of own. I’m one of those millenials (25) that missed the boat by a long shot. Last year I considered buying a condo and after experiencing the obscene bidding wars and prices for shoddily built boxes I opted out. 90k investment portfolio though so I’m happy.

______________________________________

Smart, teach your buddies.

All Condos go to zero…

#347 dosouth on 02.15.17 at 10:09 am

Good lord, inviting “them” to brag on line…your biggest comment section in a while…. go figure. Self importance, Social Media….great mix!

#348 Clark_Kent on 02.15.17 at 10:13 am

1 Cottage, 2009 for $239k
25% down
50% owing
age 41
%equity 40%
current value .. estimated @ approx. $400k

#349 Herbie Hancock on 02.15.17 at 10:28 am

* 33 year old male, single.
* Live in rural Eastern Ontario
* 71k made in 2016
* Rent: $450 a month
* Car: $70 a month for insurance.
* TFSA full, investments being made.

#350 IHCTD9 on 02.15.17 at 10:28 am

“And really, all the 416ers talking about all the cultural amenities of city life are too busy struggling to pay off their debts to really enjoy them, so what’s the attraction after all that?”
___________________________________________

I partake of the cultural amenities of urban life via the GTA when the desire comes. Sports, Ballet, Symphony, Musicals, Plays, Opera even. It amounts to 1 or 2 times a year when something good comes along.

Living inside the GTA just to be close to this kind of stuff 100% of the time? I’ve never bought this silly assertion.

The urban areas have jobs, that’s it. They’re getting crappier every year, while the costs and headaches of urban life are skyrocketing. Look at the prices folks are paying for their city digs above – that’s only the beginning. If Wynne weren’t so close to an election, Toronto folks would be paying a toll premium to drive on some of the roads.

But at the same time, Canada’s economy is dying, and the last job vacancy in the entire country undoubtedly will be listed in an urban area. 20-30 years from now, the kids will look back with anger saying the Millennials had it easy.

#351 The Mayor on 02.15.17 at 10:35 am

Own 1 house
Bought in 2011
Paid $300,000
30% down
New build
I was 30 in 2011
Present mtg 180k
Owned 6 years
Value 350K
33% of present NW.

#352 Editrix on 02.15.17 at 10:37 am

1 house solely owned. 1 house co-owned with mother, who lives in the former.

1st house bought 2007 for $415,000. Mother’s house bought in 2004 for $359,000.

1st house 55% down. Other house 85% down.

House 1 – 84 years old. House 2 – 81 years old.

House 1 – I was 43 years old. House 2 – I was 40 years old.

House 1 – owing $150,000 approx. House 2 – paid off in 10 years.

Have owned house 1 for almost 10 years. Have owned house 2 for almost 13 years.

House 1 – today’s value is $850K (but probably over a million if you got some crazies into a bidding war – in a normal world, it would be worth $600K) House 2 – current value is $800K (similar to above if the crazies come to a bidding war)

% in house equity – 85%, but I’m not leveraging myself against this – other than the mortgage, I have no debt. ($250,000 in RRSPs & $30,000 in TSFA – I know, I can do better). Also with Mom, I co-own a 4 bedroom waterfront cottage that is probably worth about $250K.

#353 Yuus bin Haad on 02.15.17 at 10:38 am

Sorry, what was the question?

#354 Dan on 02.15.17 at 10:41 am

I own a cottage in Laurentides, on a lake, 1h drive from Montréal.

I rent in Montréal.

Bought the cottage in 2014
Paid 175 000, 20% down,
built in 1997
I was 35 y. o.

Mortgage balance : 132 000$

College teacher in Mtl, I own a cottage to spend most of my summers.
Real estate is not an investment for me.

I will keep my cottage for a long time.
I will rent in Mtl for a long time.

Assets :
110 k in TFSA + RRSP.
64 k in net value for the cottage.
Solid pension plan.

Portfolio of approx. 25 stocks.
I read a lot and subscribed to investing newsletters.

Not interested in Real estate investing.

I come here every 2 weeks for dog pics and fancy words like “comatose”.

#355 Patbod on 02.15.17 at 10:47 am

how many houses do you own
1 house
1 triplex

year of purchase and price
2003, 225 k$
2012, 410 k$

% down
10%
20% (used Equity from house)

age of house at that time
New
20 Years

your age at that time
26
35

amount owing or number of years it took to pay off
100 k$
290 k$

value today
350 k$
475 k$

% of your net worth in house equity
50%

#356 Pip on 02.15.17 at 10:48 am

• 1 house
• 2003 for 362K
• 40% down
• 70 years old or so
• 30
• paid off in 4 years
• $1.5 – $1.9 million probably
• >50% of my net worth is there, not sure

#357 FR on 02.15.17 at 10:51 am

1 house on lake
Paid $395,000 – 75% down (sold 2
houses to get onto lake)
2007
Age 44 at time
Paid off in 2016
Current value $450,000
36% of net worth
Rest in balanced portfolio
Plus 1 DB pension in a few more years.
Hope it’s enough.

#358 Atrate on 02.15.17 at 10:54 am

How many houses do you own: 1
Year of purchase and price: 2007 paid $189,900
% down: 25%
Age of house at that time: approx. 35 years
Your age at that time: 48
Amount owing: $86,000
Number of years owned: 10 on May 2
Value today: $250K – $260K
% of your net worth in house equity: approx. 14%

#359 westcdn on 02.15.17 at 11:00 am

Speaking of being a leaf, I think of Bugs Bunny vs Yosemite Sam. https://www.youtube.com/watch?v=s2yDVYj7czQ
I won’t back down.

Nonetheless, I can learn from this guy and his opinions. I need all the help I can get about investing even it is delivered through a backhand. It just makes me tougher.
http://ibankcoin.com/flyblog/2017/02/14/flynn-markets-government-shills-attack-dog-media-homeland/

#360 Matthew on 02.15.17 at 11:13 am

1 house. 4 years old. Purchased in 2015 for $175k. 20% down at age 28. Value at 180k now.

80k equity in the house, 110k in liquid assets. So 40% of net worth in the house.

#361 traderJim on 02.15.17 at 11:15 am

#317 Dominos

I couldn’t disagree more, but I kind of selfishly hope the Ontario government does try this incredibly stupid minimum income plan.

I am pretty sure I could find a way to qualify, and a free $29k a year without having to even pretend to be looking for a job? Sweet!

No doubt I wouldn’t be the only one arranging things to be sure to qualify.

And they say there is no such thing as a free lunch, pffft. This sounds like free lunch, dinner, breakfast and a little bubbly to boot.

Thanks in advance to all those hardworking schlubs that have a lot less wealth than I do that are going to be paying me to live in Muskoka and the Algarve.

#362 Bob on 02.15.17 at 11:15 am

Own 1 Home
Bought in 2016
$400,000
20% down
New Home – 2016 Build
34 Years Old
$300,000 left owing
Owned 1 Year
EST value today: $420,000
16% of your net worth in house equity

#363 Nobody, really on 02.15.17 at 11:16 am

My partner and I (32 years old) live in the Nation’s Capital. We’re renting a house that’s probably worth around $600k for $2100/month plus utilities. We’ve easily got enough saved for a down payment, but we’re not in a rush to buy so we’ll see if prices come down a little.

#364 Diana on 02.15.17 at 11:22 am

Real Estate – half a SxS
Purchased in 2012 for $185,000
5% down
House was built in 1972
I was 35
Current mortgage is about $150,000
Owned for 5 years (to the day actually…)
Recent city tax assessment puts it at $204,000
The equity in the house represents about 32% of my net worth.

#365 Euro observer on 02.15.17 at 11:38 am

“Everyone wants to make sure that everyone else is paying their fair share of taxes,” said Matthew Stewart, who oversaw the research for the report, published by the Conference Board of Canada on Monday.

———————-
fare share? fare to whom, the government bureaucrats?

He surely did not mean tax on appreciated homes.

In the mean time I am taking my tax business somewhere else.

#366 Victor V on 02.15.17 at 11:46 am

Our family rents a lovely $2M home in central Toronto for $4200/month.

RRSPs, RESPs, TFSAs are maxed, and the value of our non-reg account grows each year. The income from our portfolio pays the rent on the house.

No debt.

Took the red pill a decade and have never felt more free and happy.

#367 Meg on 02.15.17 at 11:47 am

Hubby and I just sold our place in fall 2016, took $100K NET profit and have invested it for now waiting until things cool down/even out.

House was 12 years old (semi-detached)
I was 26, hubby was 27
bought in 2014
20% down
owned for two years, then sold
bought for $294,000, sold for $400,000 (no conditions, 4 way bidding war).
was 100% of hubby’s NW, about 29% of mine at the time.

Now fully liquid, renting for less than $1,000 a month waiting for opportunities to come our way…or continue to let our money make money while invested ;)

#368 TurnerNation on 02.15.17 at 11:48 am

400th?

Which poster is Gartho’s landlord. ..

#369 Raser on 02.15.17 at 11:50 am

1 house (Toronto, detached)
2014, 675k + 400k renos (complete gut)
25% down (about 50% if you include renos)
105 year old house
Wife and I are in late 30s
500k owing
3 years owned
Around 1.1m I think? Maybe more
80% equity in the house.

#370 Julia on 02.15.17 at 11:51 am

So how does one have a basement suite, undeclared, without CRA catching on to the fact that someone is filing their own taxes with an address of the basement unit?

#371 jess on 02.15.17 at 11:59 am

IT backlash in Bangalore against the “techie”

https://www.bloomberg.com/news/features/2017-02-15/maniac-killers-of-the-bangalore-it-department

#372 For those about to flop... on 02.15.17 at 12:00 pm

Pink Snow falling in Surrey.

These guys forked out 672k on this dilapidated looking house in March 2016 and are now fighting to get the bulk of their money back.

Thanks to all the people for the GAP code support…

M42BC
M64WI

10619 137a Street, Surrey

Dec 21:$739,000
Feb 14: $690,000
Change: – 49000.00 -7%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDA3NjdGRA==

#373 benj on 02.15.17 at 12:01 pm

3 townhomes in Ottawa
2010 182k 10% down
2013 170k 20% down
2014 187k 20% down
current comps are around 190-200k each and I owe 450k
so house equity around 135k is about 31%
Side note: found this blog in 2009, was super scared to buy a home, especially after the GFC. Compromised, bought small and least expensive just in case.

#374 Victor V on 02.15.17 at 12:06 pm

BMO declares Toronto housing bubble amid ‘dangerously’ hot prices

http://www.bnn.ca/bmo-declares-toronto-housing-bubble-amid-dangerously-hot-prices-1.672542

“Let’s drop the pretence. The Toronto housing market — and the many cities surrounding it — are in a housing bubble,” BMO Chief Economist Doug Porter wrote in a note to clients Tuesday.

#375 RC on 02.15.17 at 12:09 pm

Own 1 house
purchased in 2006 for $265000
38% down payment
house was 4 years old at time of purchase
I was 32 years old in 2006
paid of in 3 years and 3 months
owned for 10.3 years
Value today (from Mpac assessed value) $310000
Percent of Net Worth in house equity: 38%

#376 Matsebula on 02.15.17 at 12:13 pm

Real Estate
Bought detached house in Winterpeg
$460K – 10% down
Built 1992 in neighbourhood where people line up to buy houses so they can live near their parents and extended family.
Mortgage at around $400K now
Assessed $489K by city, but whatever. Doesn’t mean much.
Expecting a move back to Cowtown with work (buck the trend…) and will almost for sure rent there until things correct substantially.
Work relo program is awesome, covers equity loss to some degree, even if part of it is taxable.
Equity in house is maybe 15% of net worth.
Work has DB pension which I will take as commuted value for sure once I’m done here.
When I left military I got a nice chunk of pension contributions returned as commuted value also.

#377 Ogopogo on 02.15.17 at 12:16 pm

Proud & happy renter of a condo unit subsidized by Kelowna’s most munificent airlord.

Real estate? Zero. I do own about 10% of my portfolio in REITs, however.

#378 J on 02.15.17 at 12:20 pm

• how many houses do you own?
2 houses

• year of purchase and price:

2011: $305k
2015: $380k

•% down:

2011: 5% down
2015: 10.5% down

•age of house at that time:

2011: ~100 years
2015: ~110 years

•your age at that time:

2011: 29
2015: 34

•amount owing or number of years it took to pay off:

2011 house: $236k
2015 house: $331k

• number of years owned

2011 house: 6 years
2015 house: 1 year

•value today

2011 house: $310k
2015 house: $390k

•% of your net worth in house equity

30%

#379 For those about to flop... on 02.15.17 at 12:21 pm

Pink Snow falling in Abbotsford.

This is only a junior burger case of Pink Snow ,but still 400k+ is not chump change.

They paid 410k for a 20 year old condo in Abbotsford in March 2016 ,even the bloated 2016 assessment only came in at 320k, so these guys overpaid by around 100k.

This place is around 70 kilometres outside of Vancouver for you guys in other provinces.

They are looking around to snare someone else not paying attention…

M42BC

1005-33065 Mill Lake Road, Abbotsford

Oct 19:$449,900
Feb 14: $439,900
Change: – 10000.00 -2%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDBGNlc2OQ==

#380 Dean on 02.15.17 at 12:27 pm

-1 house
-purchased 2014 for ~$600,000
-15%
-100 years old (she’s old)
-~$460,000 left on the mortgage
-owned for 2.5 years
-current value ~$550,000 (slumping Calgary market)
-~10% of my net worth is held in house equity

#381 MD on 02.15.17 at 12:32 pm

1 house
purchased 2007 – 335000
60% down
4 years old
47 years old
paid off in 5 years
value today 580,000
About 55% of net equity

#382 For those about to flop... on 02.15.17 at 12:38 pm

Pink Snow falling in Delta.

These guys signed on for 880k in May 2016 for this place ,40k over the generous assessment that came later in the year.

They have priced it to get out with a small gain ,but in a city that the average sale price is down 7.5% in the last year ,they will be hoping to find someone on some good sauce…

M42BC

7705 117 Street, Delta

Nov 2:$989,000
Feb 14: $968,000
Change: – 21000.00 -2%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDA1VkU5Sg==

#383 Alan on 02.15.17 at 12:38 pm

Own 1 house
Purchased in 1999 for $230,000
20% down
33yr old house
33 yrs old at the time
Owe $270,000 (yes, more than purchase price as we had a large LOC taken out and invested in trust units. The dynamic duo of Harper/Flaherty screwed me royally during the Halloween Day massacre of 2006)
Valued at $1,000,000 today
50% equity in house

#384 Steve on 02.15.17 at 12:40 pm

• 1
• 2011 470k
•10% down
•20+
•49
•260k
• 6
•999k
•33%

#385 Bilious Festeroni on 02.15.17 at 12:43 pm

1 house, bought in 2014 for $365k, with 20% down. House was 7 years old, and I was 36. Still owe $277k. Worth $420k now, supposedly. 48% of net worth in house.

#386 Another Deckchair on 02.15.17 at 12:44 pm

Apologies for the late response, life and work gets in the way sometimes.

– how many houses do you own: 1

– year of purchase and price: 1996, 165,000

– % down: forget exactly, something around 60,000

– age of house at that time: circa 40 years

– your age at that time: 37

– amount owing or number of years it took to pay off: about 7 years to pay off

– number of years owned: 20

– value today: MPAC – circa 500,000

– % of your net worth in house equity: About 15%

———————————-
Garth – thanks for all your hard work.

#387 westcdn on 02.15.17 at 12:45 pm

Okay, here goes…
• One home with a $67,000 mortgage and a $50,000 Line of Credit for investing – I am in no hurry to pay off the debts
• Purchased as a move up, 45 year old detached split level – about 1200 sf on two levels and a good lot, 60 x 100 with back lane, lake community and a large park across from the lane
• Been a homeowner since I was 30
• RE was 95% of my net worth when I started – now about 25%
• Bought for $170,000 all in – worth north of $500,000 today with a few upgrades

M62ab – single, the divorce cost.

#388 Another Deckchair on 02.15.17 at 12:53 pm

Yikes – if it matters – my recent entry – %net worth is approx 20%, not 15%; was thinking of other numbers for business.

#389 Big D on 02.15.17 at 12:54 pm

assests
– 0 houses
(renting 3br townhouse in LMD $1600/mth)
– 13k cash
– 9k car
– 773k mix of stocks, etfs, index funds, REITS
(maxed tfsa, rrsp)
– Gov pension

liabilities
– 39k investment loc (tax deductible)

age: 41,
wife +3kids
no dog/cat

#390 darkselling on 02.15.17 at 12:55 pm

how many houses do you own, followed by these questions…
1 HOUSE OWNED

year of purchase and price
2013 – $467,000

% down
5% DOWN

age of house at that time
17 YEARS

your age at that time
34 YEARS OLD

amount owing or number of years it took to pay off
$406,420 (21 YEARS REMAINING)

number of years owned
4
value today
$495,000 ACCORDING TO CALGARY TAX, ASSUMING I COULD SELL FOR $520K BASED ON COMPS IN AREA (THIS IS DOWN FROM $565K IN 2015)

% of your net worth in house equity
INVESTMENT PORTFOLIO OF $392,000, OTHER ASSETS OF $48,000 FOR A TOTAL OF $440,000, EQUITY IN HOUSE IS ~$105,000

#391 Cloverdale on 02.15.17 at 1:01 pm

0 house owned.
Have little over 100k in rrsp & tfsa.
Age 33

#392 RGS on 02.15.17 at 1:04 pm

Here we go:

I own 1 home (Townhouse in Oakville)
Bought / Price: 2011 / $395k
Down: 20% / $79k
Age of house at purchase: 11 years
My age at purchase: 30
Still owe: $130k
Years owned: 5.5
Value today: $600k – $650k – ??
% of net work in House Equity: ~50%

#393 Eks dee Sipal on 02.15.17 at 1:06 pm

Speaking of ‘fess up: Dougie finally tells the truth.

“Let’s drop the pretence. The Toronto housing market — and the many cities surrounding it — are in a housing bubble,” BMO Chief Economist Doug Porter wrote in a note to clients Tuesday.

http://www.bnn.ca/bmo-declares-toronto-housing-bubble-amid-dangerously-hot-prices-1.672542

#394 WestCoastBestCoast on 02.15.17 at 1:12 pm

# of houses we own: None
Ages: 36/37 + 1 Chocolate Lab
What we do: Rent in Squamish and save/invest

Both comes from parents that own and have rental properties/cottages in Toronto area…we are the black sheeps in the family and prefer the 4500km distance away :)

Living life baby!

#395 Nick on 02.15.17 at 1:18 pm

• own 1 house, 1 rental condo
• House = $765k in Jan 2015, Condo = $295k in Dec 2010
• House = 22% down, Condo = 10% down
• House = 15 years old, Condo = 5 years old
• House = 29 yeas old, Condo = 24 years old
• House = 580k remaining, Condo = 200k remaining
• House = 2 years, Condo = 6 years
• House = approx $900k, Condo = approx $370k
• 81% of my net worth is encompassed in my house and rental condo

#396 YOW renter on 02.15.17 at 1:19 pm

Houses owned (ever): 0

Wife & I are in Ottawa where we can’t understand the prices & mortgages all my friends are agreeing to pay… it’s crazy!

#397 For those about to flop... on 02.15.17 at 1:23 pm

Not too sure if this one is pure Pink Snow or not ,but i will put it up so my blog buddies in Burnaby can see what’s going on.

They shelled out 2.1m for this place in June 2016 and just dropped 200k off the asking price but are still holding out for a quick killing.

Average sale price in Burnaby is down 6.5% in the last year so I see another large reduction and then a serious decision to be made ,when and if they get a solid offer.

One thing that I have noticed in the last few days is a spike in the percentage of listings that have been bought in the last three years.

In the last half of January and early February the recent sellers were in the 5/10% bracket of the percentage of overall price reductions.

Numbers since Feb 10th

91 price reductions

26 of these reductions are by sellers who bought in the past 3 years or 28%

Could be coincidence…could be a trend… from what I have seen I expect it to settle around the 15/20% mark ,meaning a lot of motivated sellers…

M42BC

5480 Forglen Dr. Burnaby

Nov 15:$2,799,900
Feb 14: $2,599,000
Change: – 200900.00 -7%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAzV1RVUA==

#398 Johnny on 02.15.17 at 1:24 pm

#344 IHCTD9 on 02.15.17 at 10:09 am
#327 milleniallmoose on 02.15.17 at 8:41 am
I rent instead of own. I’m one of those millenials (25) that missed the boat by a long shot. Last year I considered buying a condo and after experiencing the obscene bidding wars and prices for shoddily built boxes I opted out. 90k investment portfolio though so I’m happy.
______________________________________
Smart, teach your buddies.
All Condos go to zero…
………………………………………………………………….
Hell I hope not.

1 Condominium
Bought in 2008 for $335,000
43% down
15 year old building
31 years old
Owe zero payed off took 9 years.
Owned 9 years
Value today $420,000 perhaps actually can’t sell it.
Fees $1250 per month and raising. May just rent it out.
35% of net worth

#399 PropertyGuy on 02.15.17 at 1:25 pm

Own 1 home
– year of purchase and price:
2008 – $355k
– % down
20%
– age of house at that time
25 Years
– your age at that time
40 Years old
– amount owing or number of years it took to pay off
$300k owning
– number of years owned
10 Years
– value today:
$700k
– % of your net worth in house equity:
55%

#400 Rooskie on 02.15.17 at 1:27 pm

how many houses do you own, followed by these questions…
year of purchase and price 2011, $340K
% down 22%
age of house at that time 31
your age at that time 31
amount owing or number of years it took to pay off $200K owing
number of years owned 6 yrs
value today $370K
% of your net worth in house equity 36%

#401 IHCTD9 on 02.15.17 at 1:35 pm

#346 Herbie Hancock on 02.15.17 at 10:28 am

* 33 year old male, single.
* Live in rural Eastern Ontario
* 71k made in 2016
* Rent: $450 a month
* Car: $70 a month for insurance.
* TFSA full, investments being made.
____________________________________________

Millennials, do what Herbie is doing to win.

#402 Henri on 02.15.17 at 1:35 pm

how many houses do you own
1 multiplex (5 units)

year of purchase and price
2013, 674 k$

% down
0%

age of house at that time
85 (built in 1928

your age at that time
27 YO

amount owing or number of years it took to pay off
549 k$

number of years owned
3

value today
800+ k$

% of your net worth in house equity
61%

#403 Somewhere in QC on 02.15.17 at 1:46 pm

year of purchase and price – 2015, 155k
% down – 70%
age of house at that time – 63
your age at that time – 32
amount owing or number of years it took to pay off – 45k owing
 number of years owned – 1.5
value today – ?
% of your net worth in house equity – 60%

#404 Fortune500 on 02.15.17 at 1:49 pm

http://parlvu.parl.gc.ca/XRender/en/PowerBrowser/PowerBrowserV2/20170213/-1/26696?useragent=Mozilla/5.0%20(Macintosh;%20Intel%20Mac%20OS%20X%2010.9;%20rv:51.0)%20Gecko/20100101%20Firefox/51.0

Many here will be interested in watching this Standing Committee on Finance

#405 Deplorable Dude on 02.15.17 at 1:50 pm

Scary stuff going on in the U.S right now.

When Julian Assange starts agreeing with Alex Jones I get spooked….

JA tweets…..’Amazing battle for dominance is playing out between the elected US govt & the IC who consider themselves to be the ‘permanent government’.’

The Deep State is out in the open attempting a Coup to take down Trump. Now being openly discussed on US TV.

The Intelligence community secretly records conversations of a US citizen (and White House official), and leaks them to the press to get the guy fired….That’s the actions of a Police State right there…

Strap yourselves in folks and get the popcorn….things are gonna get pretty bumpy I think…..

#406 Ray on 02.15.17 at 2:01 pm

We’re among the converted:

# of homes: 0 (had one in Ottawa from 2008-2016 – now we’re out. Rent in Victoria).
Age now: 38 (with wife and two kids in tow).
Age of house: oh jeeze, over 100 yrs. Brick Semi-detached near bytown market.
Our age at buying: 30ish
# of years it took to pay off 225K mortgage: 8
# of years owned: 8
Value today: well we bought at 321K and sold at 392K in pretty lethargic Ottawa market. Given ownership costs (new deck, porch, etc) and transaction costs (not to mention opportunity costs), probably barely made anything on the sale.
% of our current net worth in house equity: 0 – we spend all our time resisting FOMO and omnipresent real estate lust.
But questionable whether we could afford to buy a decent place in here in Victoria anyway at current prices.

#407 Canadian Moose on 02.15.17 at 2:14 pm

Own 1 house

2013 $428000

50% down

61 year old house completely renovated, 47 years old when I purchased it Upgraded from condo (lived there 16 years)

Owe $188000 10 years left on mortgage

Value $450000

House 44% of my net worth in house equity

Cheers from the hinterland

#408 Bloodcross on 02.15.17 at 2:43 pm

Own 1 condo
Bought 2015, $450k
75% down
Condo was 24yo
I was 39yo
$75k owing
Owned for 1.5y
value $500k(?)
~50% of networth in equity

#409 Just the facts ma'am on 02.15.17 at 2:45 pm

1 condo
2006, $235k
20% down
28 year old bldg
46 years old buyer
after 10 years owed $85k
Value $385
Equity is 80% of net worth

But am just selling it move to a cheaper town where I’m buying outright. Home will be approx 65% of net worth.

#410 soost on 02.15.17 at 2:50 pm

I own 0 houses. I’m curious why these measures (tax return declaration / with holding tax) are being considered before the efficient and obvious:

1. No realtor commissions for any amount above list price.
2. No brokerage commentary on market direction from a broad perspective and in news media.

They are magnificently simple.

#411 Yeeeah on 02.15.17 at 2:51 pm

a) Houses Owned 0 (ZERO!!! and proud of it)
b) Live in the GTA … not sure for how much longer as I’m planning on moving to a smaller town soon.
c) I refuse to buy at current prices especially since my landlord is actually financing me.
d) I have $250,000 in savings and investments (can buy a house in cash in smaller parts of Ontario)
e) 40 years old.
f) Refuse to be a “GREATERFOOL”

#412 IHCTD9 on 02.15.17 at 2:56 pm

#388 Cloverdale on 02.15.17 at 1:01 pm
0 house owned.
Have little over 100k in rrsp & tfsa.
Age 33

_____________

Win.

#413 IHCTD9 on 02.15.17 at 3:12 pm

#395 Johnny on 02.15.17 at 1:24 pm

…Hell I hope not.

____________________________________________

Someday, your condo will be a heap of imploded concrete laying on the dirt that you don’t own, and that’ll be it. Be a long time yet, but somewhere there is an invisible line after which your condo will never appreciate again, and the long slide to a worthless leaky building and regular fist fights at the new assessment meetings begins.

Just make sure you unload before your building makes the news for falling windows and methamphetamine busts.

#414 Deadmonton on 02.15.17 at 3:21 pm

how many houses do you own, followed by these questions…
year of purchase: 2009
price: $100,000
% down: 20%
age of house at that time: 95 years
your age at that time: 28
amount owing or number of years it took to pay off: $56,800
number of years owned: 8 years
value today: $142,000 (sold Dec, 2016)
% of your net worth in house equity: ~50% (but 0% in 2 months)

#415 T.O. dweller on 02.15.17 at 3:21 pm

-how many houses do you own
.5 of a triplex (live in one of the apts)

-Year of purchase and price
2009 (660k)

-% down
20

-age of house at that time
~50 yrs

-your age at that time
29

-number of years owned
8

value today
900k (assessment value. No idea of what “FMV” is), 22% equity 78% mortgage.

% of your net worth in house equity
~23% (personal) ~10% including wife

#416 Paul on 02.15.17 at 3:25 pm

If I withdraw 10k from my TFSA in 2017 how much can I put in next year? Can I put 15k in without being penalized or just $5500?

All of it. — Garth

#417 Schleprock on 02.15.17 at 3:40 pm

bot house in 93 for $160 thou brand new in the big city. AB. Put $70 thou down on it.. Age 40 then. Paid off in 2014. Bot 15 acres out of the city same year. Built a home there this past summer. Was contractor for this build. Hope to sell home in city this yr. City assessment is over $400 grand but is now a buyers market. /ab 50% 40% invested in real estate

#418 Moist Millennial on 02.15.17 at 3:55 pm

– Own no Real Estate other than VRE 6% porfolio

#419 Al in Vic on 02.15.17 at 4:00 pm

1 house, purchased in 2012 for $620,000 with 25% down payment. Built in 1959, I was 40 YO at purchase, $340,000 still owing. We have lived in it for 5 years, it’s current municipal tax assessment is $780,000. It represents 45% of our net worth.

#420 anothersurvey_man on 02.15.17 at 4:02 pm

year of purchase and price
2014 – 800K

% down
10%

age of house at that time
38

your age at that time
35

amount owing or number of years it took to pay off
690K owing

Number of years owned
2.2

value today
1400000

% of your net worth in house equity
90%

#421 Lost Investor on 02.15.17 at 4:07 pm

#410 IHCTD9 on 02.15.17 at 3:12 pm

#395 Johnny on 02.15.17 at 1:24 pm

…Hell I hope not.

____________________________________________

Someday, your condo will be a heap of imploded concrete laying on the dirt that you don’t own, and that’ll be it. Be a long time yet, but somewhere there is an invisible line after which your condo will never appreciate again, and the long slide to a worthless leaky building and regular fist fights at the new assessment meetings begins.

Just make sure you unload before your building makes the news for falling windows and methamphetamine busts.___________________________________

Ha it took my girlfriend and I two years to unload our condo in the east side of York. She wouldn’t even attend the assessment meetings after the fifth year. Three new elevators cha ching, $475 K, then they decided to paint, wallpaper and re-carpet the halls right after they hit us with the whopping assessment bill. Made a little profit but would have done better investing and renting.

#422 diesel on 02.15.17 at 4:12 pm

We rent.

#423 Reality on 02.15.17 at 4:23 pm

#409 IHCTD9 on 02.15.17 at 2:56 pm
#388 Cloverdale on 02.15.17 at 1:01 pm
0 house owned.
Have little over 100k in rrsp & tfsa.
Age 33

_____________

Win.

——
Not if rents continue their upward march. Then Fail.

#424 V on 02.15.17 at 4:28 pm

owned a home, no longer…waiting for the implosion.

purchased in 2009 $225k
sold in 2011 $310k, market was ‘overheated’ and
[value of same prop. in 2017 ~ $335k]
needed more space, did not want or know how to be a landlord…
rented a corner unit, twice the size for ~ $2300/mth

new construction at the time
was 27 at the time; now 32

net worth in housing today: $0
debt outstanding: $0
family net worth: ~$450k in cash, ETFs, and a few contrarian bets

#425 Great Lakes on 02.15.17 at 4:55 pm

-how many houses do you own: 1
-year of purchase and price: 1994; 150000
-% down: 20%
-age of house at that time: new build
-your age at that time: 28
-amount owing or number of years it took to pay off: 12
-number of years owned: 23
-value:
-% of NW: 10%
value today
% of your net worth in house equity

#426 Jontown on 02.15.17 at 4:56 pm

Houses: nil
Year of purchase and price: NA
% down: NA
Age of house at that time: NA
Your age at that time: NA
Amount owing or number of years it took to pay off: NA
Number of years owned: NA
Value today: NA
% of your net worth in house equity: 0%

#427 wendi1 on 02.15.17 at 4:58 pm

1 house, single family dwelling, purchased in 1998 for $143K. No illegal suites.
20% down
House was 17 years old, Hubby was 40, I was 39.
Paid off in 8 years.
Owned for 19 years now, and counting.
Value? hard to say, but taxed at $407K.
27% of our net worth.

I am glad we bought it when we did – nowadays we pay no mortgage or rent at all – just maintenance, utilities and property tax.

#428 mike as in mike on 02.15.17 at 5:15 pm

how many houses do you own
1

year of purchase and price
2010 $322,000

% down
50%

age of house at that time
Brand New

your age at that time
55

amount owing or number of years it took to pay off
3 years

number of years owned
7

value today
$950,000

% of your net worth in house equity
60

#429 West Coast Tree Dweller on 02.15.17 at 5:17 pm

how many houses do you own, followed by these questions…
1, in West Vancouver

year of purchase and price
2016, 3.5m

% down
80% – sold previous house, also in West Van

age of house at that time
15

your age at that time
55

amount owing + number of years it will take to pay off mortgage
600k, 10-12 years left to pay off the mortgage

number of years owned
> 1

value today
3.5m, maybe a bit less now

% of your net worth in house equity
45-50%

#430 pick your battles on 02.15.17 at 5:18 pm

38 yrd old and married to another 38 yr old

Student loans just paid off
RE — 0%, renters
TFSA — 16K, diversified portfolio since may 2015
Exploring the world
in my younger years — absolutely priceless

Would do it all over again without a doubt.

I know many will mock, but in the end it’s all useless if you have not discovered your true self.

May be behind financially but what I’ve gained in personal growth is worth much more. There’s nothing like being in peace with oneself.

Plus, we’re hard workers, enjoyed our younger years to the fullest and now we are happy to work and save what we can. Life is good and I guarantee we’re happier than many other folks who are better off financially.

#431 ShawnG in TO on 02.15.17 at 5:22 pm

dont want the house show offs to skew the stats

i rent 2 apartments in professionally managed buildings. 1 is downtown TO bachelor unit near work and classes (and GFHQ). the other is in the burbs, with separate rooms for my mom and kids. nice location, near park shopping etc etc.

the combined rent is about 2200 a month, and only go up <2% a year.

0 % net worth in real estate, other than REITs

#432 pick your battles on 02.15.17 at 5:41 pm

Garth, you missed one key question too:

– What % did you borrow/got gifted from the bank of Mom & Dad?

#433 RunningWithScissors on 02.15.17 at 6:00 pm

# of houses: 1
Bought in 2011, possession in 2012 – $450,000
% down: 75%
Age of house: 1976 vintage = 36 years old
Age: 44
$180,000 mortgage left (extra money was for renos)
Value today – $750,000
% net worth in equity: approx. 50%

#434 DMRB on 02.15.17 at 6:03 pm

how many houses do you own
1 – Oakville, ON (originally principal residence, now rental property, I rent in current city of Calgary)

year of purchase and price
2007 – $246,500

% down
15%

age of house at that time
3 years

your age at that time
25

amount owing or number of years it took to pay off
$132,000 & 16 years

number of years owned
10

value today
$450,000

% of your net worth in house equity
35%

#435 Dreamers on 02.15.17 at 6:07 pm

Reading through all these comments I have noticed something very concerning.

Example:
‘My house appraised at $x dollars but is really worth $x more as it would be a bidding war.’

Put your house on the market now that the word is out about the bubble. Do a quick search to see how many realtors have tweeted about the BMO release today.

It’s over. Keep dreaming.

Everyone with a house in the gta should be immediately resetting their expectations. There will be no buyers. I know several families who instantly stopped their house search today and are going to wait and see where this goes.

Sound familiar? It should.

This market is going to crash overnight.

#436 Terrier on 02.15.17 at 6:24 pm

houses owned : 1
year of purchase and price: 1996 $210,000
percent down: 20%
age of house at the time: 68
my age at the time: 30
amount owing or years to pay off: 0 / 20 years
number of years owned: 22
value today: 1,500,000 tax assessment
% of net worth in house equity: 35%

#437 Say_No_2_Leverage on 02.15.17 at 6:52 pm

My wife and I respect Garth’s opinions and enjoy reading this blog.

We watch the Global Stock Markets rise, Bond rates increasing,
Gold and Oil values increasing, and of course Global RE increases.
We can see the Global household debt increasing to insane levels where some Euro countries are almost double Canada’s level. You thought Canadians were over leveraged but it’s worse over there.
https://data.oecd.org/hha/household-debt.htm

But we are not worried about any of them crashing. They do from
time to time, but they seem to continue on the same upwards trajectory. Lol, must be a massive Ponzi scheme!

We just know people need a place to live and call home. That’s a huge part of everyone’s lives. So rent or buy, but make sure you can afford the home you are staying in. The educated decisions you make on your own will affect your future dramatically. So either follow Garth’s wisdom or follow your own plan and instincts, but either way, always make sure you are not over leveraged. Debt is the worst thing to always occupy your thoughts.

Here’s my stats:
3 of 4 are rentals; 60% of NW. No Mortgages or any other debt.
Saving that cash flow for another RE Buy….. when the RE Market crashes.

Bought Price %Down MPAC
1997 $296k 51 $736k
1998 $440k 68 $978k
2002 $285k 70 $736k
2016 $640k 100 $726k

#438 Ace Goodheart on 02.15.17 at 8:56 pm

Houses owned: currently, three

Year of purchase:

Summer house: 2009

House we live in: 2012

House we rent out: 2013

Purchase prices: summer house, $189,000.00, cash

House we live in: $329,000.00, cash

House we rent: $279,000.00, cash.

Current net worth in real estate: that’s a biggie. The summer house is hard to value. They take about 5 years to sell. The one next to us sold a year ago for $400,000 and it is on a much smaller plot of land, but it is bigger. I really have no idea. It is not liquid. If I listed it this summer, it would be sold by 2022.

House we live in: Similar houses on the street have been going in bidding wars for $800,000 or more. Things have gotten a little nutty lately. The last open house we had, the police had to direct traffic. Really no idea.

House we rent: again, hard to value. It is a big 1800’s semi. It is kind of a sad case. It has been used as a rental for years, and we are using it for that. It is split into three units (basement was dug down, not by us, and so there is an apartment down there). It has all of its original features, but they are covered over in years of crappy renos and badly done modifications. If you removed about three inches of various types of flooring, for example, you would find basically untouched 1800’s era hardwood, ready for professional refinishing. But it would be a lot of work to get to it. I know people get foamy at the mouth about that sort of stuff. I can prove it’s all still there. I would say conservatively it would take about 200K to make it liveable. What’s it worth? Who knows. In this market I wouldn’t be surprised if it went in a 30 person bidding war for over a million. There is really no way of pricing anything anymore.

Net worth in real estate: Well, we started out 50/50 and we said, that we would never have more than 50% of our net worth in real estate. But the market has undone us. I did not plan this. I had no idea that a $329,000, 12 foot wide house on a 14 foot wide lot, with a single parking pad, three tiny bedrooms and a low ceiling basement, would be worth 800K. I had no idea. So we have been put into a situation that, theoretically, we have a lot of net worth in real estate.

I would really sell the rental except I like the tenants and they have kids that are very cute, and I kind of feel bad about making them homeless. It is a small community here (in Toronto, all neighbourhoods are small communities) and we all know each other. The kids go to the school down the street. It is a situation. I don’t know what to do about it. Likely I will do nothing.

#439 jim on 02.15.17 at 9:40 pm

how many houses do you own, 1
year of purchase 2002
price 287
% down 50%
age of house at that time 45
your age at that time 42
paid off in 11 years good thing because I’m out of work
number of years owned 15
value today 750
% of your net worth in house equity 70%

#440 TCContrarian on 02.15.17 at 9:45 pm

Sold my principal residence (and only piece of RE) during summer of 2015 – been renting since.

Put everything into gold and pot stocks so now a multimillionaire (or will be soon…LOL)

TCC

#441 PetiteMaison on 02.16.17 at 1:26 am

Own: 1 small house on extra large Vanc. trendy area lot
Purchase Year: 2002 / paid 300K
% down: 25%
age of house at that time: 65 years
our ages at that time: 42/44
amount still owing (80K). Will be paid off in 4 more years. No rush, low interest rates and cheaper than rent. No basement suite (thank goodness).
number of years owned: 14 years
value today: Gulp….supposedly “$2,100,000” (no big renos ever done…all land value.) We fall off the sofa every year when our assessment arrives. Strictly speaking, should only be valued at 375K if it had just kept pace with inflation. Makes no sense.
% of your net worth in house equity: 70% at these silly levels. Fully expect a serious drop. But plan to stay as it’s a great home for pets. And Vanc rentals are extremely pet-prohibitive. Pretty garden too.

#442 TK on 02.16.17 at 9:29 am

how many houses do you own: 1
year of purchase and price: 2015 $489,500
% down: 20
age of house at that time: 40
your age at that time: 35
amount owing or number of years it took to pay off: 370,000
number of years owned: 2
value today: no idea
% of your net worth in house equity: most

#443 busman7 on 02.16.17 at 11:08 am

Sold house in GTA to son 1999, bought commercial property for a shop 1 km north of GTA boundary.

Sold shop in 2008, bought retirement home in the tropics for cash in 2010, where I live happily and drive a Kia.

Life is good!

#444 Simon on 02.16.17 at 1:28 pm

Bought condo in Van in 2011 for 340,000 – 25 yrs

Sold condo in Van in 2016 for 400,000 – 30 yrs

Bought house interior BC in 2016 for 460,000 – cheapest house in one of the best areas and near university and all amenities. Could rent to cover all costs. 30% down.

30% of net worth in home, rest in e-series and soon transferring lump sum into lower fee ETFs. 1 government pension, 1 self employed.

#445 Chantal on 02.16.17 at 2:08 pm

I’m a renter. At some point I think buying a house maybe in my future after the bubble bursts. At this point I see no use for a mortgage. I have made other investments.
I question what happens to people who retire and sell their houses in order to fund their retirement lifestyles. They sell, but then what? They rent? They need to live somewhere. Renters as my self are looked down upon, banks don’t see the 300k in our bank account as secured asset. So I doubt very much these house owners who sell will down grade to a rental.
Worse yet, we pay capital gains on our investments, why aren’t home owners? They bought a house 400k and now it’s worth of 1 million, but no capital gains are collected. How is that fair?

#446 Gregg in Victoria on 02.16.17 at 4:11 pm

– 1 house
– Bought 2005 @ $425,000
– 62% down
– 13 years old
– 44 (me) and 41 years old
– Paid off in 5.5 years
– owned 12 years
– worth ~$700,000
– 38.5% of NW, not counting boat or DB pension

We have a suite and we dutifully pay income tax on the rent because it is the right thing to do. Now maybe regretting that as re are now on the CRA’s radar as having a suite – the tax cheats aren’t.

#447 Yarrow on 02.16.17 at 8:58 pm

1 house
Bought 2003 165,000
All cash
Owned 14 years
Age 55, spouse 51
Worth around 250,000
We were afraid it was the top of the bubble, we live in the US, luckily it went up another 140,000, and is stable now.

#448 Yarrow on 02.16.17 at 9:00 pm

Less than 20%.

#449 dt on 02.16.17 at 11:52 pm

OK, I’ll bite. We rent ghetto-style in Toronto, family of 5.
Bought rural land, 1.8 ac last year, $18K. No house on it, but one day there might be. Not flipping it.
Paid cash, call it “profit taking” or “rebalancing”.
36.
10% NW in this bit of land, another 5% in VRE. Everything else is liquid and indexed, in TFSAs and RESPs, over half is American. Our NW was $0 when I started reading this blog. Still have a long way to go but we wouldn’t have been able to do it without you all. Thanks, GT.

#450 Red Panda on 02.17.17 at 8:09 am

Happily renting. ~27% of assets in commercial real estate located in Edmonton, AB.

Net worth of $459K.

Total Assets

Cash — $65K
Bonds — $31K
Pension — $37K
Stocks — $167K
Gold — $51K
Commercial Real Estate — $134K
Alternative Investments — $16K

Total Liabilities

Line of Credit — $37K
Credit Card Debt — $5K

#451 Read this blog http://www.greaterfool.ca | Funnel_Savings on 02.17.17 at 5:52 pm

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