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Discussion in 'General Chat' started by Archaeopteryx, Apr 14, 2015.

  1. #76 burner, Apr 15, 2015
    Last edited by a moderator: Apr 25, 2016
    Those would be way way over a million here. Basic formula is 2 bedroom 1 bathroom brick terrace = $900k, each extra bathroom = $100=150k, off street parking (per car) = $100-150k, small garden = $100-200k, freestanding or semi detatched = $100-200k. Wood = -100k. Popular suburb = +200k
  2. Hey guys, did you know real estate values vary depending on location? Amazing!
  3. Haha no kidding. Housing prices around my area vary 200-300% within 200 kms. In my city a typical 3bed 2bath single family separate house sells for 500-700K with no yard.
    The next town over,(70kms away) that same house with 2 acres. Would be about 250k.
  4. I always pay tax at the end of the financial year, as I dont pay any throughout the year.

    Basically I put away 40% of my pay (for tax, super, long service leave, insurance) into a home loan offset account. Then come tax time, the trick is in deducting as much as I possibly can, so I only have to pay as little as needed out of those savings.
    After I pay what I have to, I normally have a nice chunk of year long savings left over in the offset.
  5. I can't expect to ever own an apartment (let alone a standalone house) unless something very dramatic happens to my career.

    A few of my friends are thinking about making a move, possibly to Australia. Their skills are needed there and the salaries are insanely higher than they are here.
  6. You have it pretty bad dude. I pay $570 a month for a lovely, spacious, 2-bedroom apartment. Within walking distance of the city center. I am renting from my second cousin though, which is why it's so cheap.

    I will get a nice tax return next year because of my commute. I drive around 85km every day to get to work now <A BORDER="0" HREF=""><IMG BORDER="0" SRC="pitlane/emoticons/sad.gif"></A> That means I will get like 15 000 NOK back next year.
  7. damn
    my 1 bedroom was 920$, 10min taxi / 30+ min walk edge of downtown
  8. received 6000$ back from taxes due to income splitting, child benefit, and dependants.

    SDRRSP returned 24% last fiscal

    Thinking of starting two more self-directed portfolios, one for daughters education, and another as a non-registered tax free income generator

    Enjoying my 6 months of parental leave, and I bought another motorcycle.
  9. About to get the ball rolling on first house. Talking to bank tomorrow.
    Repayments on a brand new 3 bed/2 bathroom/2 car garage house is the same as a 2 bed/1 bath/1 car semi-detached in the same area. Only catch is that it'll be many months before the thing is built.
    Suburbia, here I come. 10 minute walk to work.
  10. Where are you buying a house?
  11. Which bike?
  12. just make sure you don't say thats what the account is for for your daughter. she ends up not going to university college or doesn't use all of it you don't even get interest on what you put in.
  13. RESP is a gift. Industrial Alliance has the best ones right now IMO

    Wheelman should look into getting a Canada Life Estate Achiever whole life plan for your kids too ... great savings vehicle and insurance down the road without them having to apply later.

    other tax deductions for kids are the fitness credit but your kids might be too young to take advantage of that right now.

  14. Why is whole life insurance on a kid in any way a smart idea?
  15. Well an RESP is specifically for education. That's what the E stands for. And my daughter will go to post secondary. It's a rule in our family. Everyone has gone to university. Everyone.

    And a self-directed RESP is a little different than the standard ones. Your interest is yours because you've managed it yourself. The only thing that your getting is the 20% from the gubment.
  16. 1978 CB400 Twin.
  17. That's cool. I do like the old Hondas.
  18. How does it work in Canada when it comes to motorcycle license? Do you need a special license for them or can you drive them on a car license? Here there's such a huge mix of different licenses for different MC types with different age restrictions and engine deplacements and what not that I don't even grasp the whole situation.
  19. Cash surrender value / Paid up insurance . Good guaranteed IRR on the cash and when they are grown and want to buy a house they don't need term insurance. (could even use the cash tax free for the downpayment on the house)
  20. its a seperate licence entirely and there are 3 stages of it (M1, M2, and M) no idea what the restrictions are with any of them but it'll cost about 700ish canadian (including the training course everyone does) to get the licence
  21. its paid early and cheap.

    try to get a life insurance at 33yo
  22. So glad I bought my first house here when it was only 5% deposit, and hella cheap (pre housing boom).

    Missus decided to "upscale" at the start of the year, so now I have a mortgage again, after paying it off last year <A BORDER="0" HREF=""><IMG BORDER="0" SRC="pitlane/emoticons/sad.gif"></A>
  23. Licensing is a provincial thing, so it changes in different parts of the country.
  24. money is made to be spent
    help the economy, spend it!
  25. *by his wife

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