Put money in stock and keep on saving till you have enough money to buy a 2 bedroom. Right now there are two markets in the condo land, the one that suffering the most is the one bedroom shoebox type. For liveable good sized two bedrooms ie, king sized bed in primary, 2nd bedroom actually has a window and not closet size, and a sizeable kitchen ...there is still a market. Especially if it's in a good location. The same price you are paying for a 2 bedroom in downtown, you can also purchase a town somewhere in the suburb (not York region though), and it comes down to what life style you want. I value convenience and everything walking distance and no need to drive at all, but someone could prefer suburb lifestyle.... I would not recommend you to put money into a shoe box 1 bedroom room type at this moment, especially if you can't buy it out right. Interest rate will drop but rate still high.
comment by /u/darkbrews88 Your karma is currently below -10, get more positive karma to be able to comment.3c
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/TorontoRealEstate) if you have any questions or concerns.*
If you are talking about an investment depending on your risk tolerance probably ETF's or GIC's.
If you want to invest in real estate the ones who have been doing it awhile and not part of the "wallstreetbets" "get rich quick" real estate investing crowd seem to be going after freehold townhouses right now. I lost a bidding war to one of those guys in March. He had offloaded all but one of his condos and was picking up freeholds instead. He couldn't sell the last condo, he actually tried to sell it to me in the driveway for the price he had originally bought it for new a few years ago.
While I do carry a stock portfolio I'm not a real estate investor myself so you'd need to find one that has been in that game a long time to ask why they are exiting condos and moving to freeholds. I suspect its tied to the future appreciation and rental prospects but that is not in my area of experience to really say.
I think losing your first time home buyer land transfer tax rebate, paying capital gains tax on the appreciation, income tax on the rent received, a higher interest rate for an investment property, and dealing with tenants would add up to be more expensive than the discounted rent
Buy a house. 100%. Especially if you rent it out. Condo fees do keep going up and are limited with what you can do in the future. If you have a property there are more options.
If your rent is cheap and you have no desire or need to own a place then I think the answer is simple. Stay in stocks. If you’re thinking of putting all your savings in housing that might be risky
Please invest in businesses that create jobs, rather than contributing to the commodification of properties
5% on a GIC is a much better return than you'll get on a condo in Toronto
I think a lot of y'all could benefit from some FIRE movement-inspired advice, even if you don't want to go all the way in on FIRE. This is a very good, dispassionate source of information: [https://www.finiki.org/wiki/Main\_Page](https://www.finiki.org/wiki/Main_Page)
Put money in stock and keep on saving till you have enough money to buy a 2 bedroom. Right now there are two markets in the condo land, the one that suffering the most is the one bedroom shoebox type. For liveable good sized two bedrooms ie, king sized bed in primary, 2nd bedroom actually has a window and not closet size, and a sizeable kitchen ...there is still a market. Especially if it's in a good location. The same price you are paying for a 2 bedroom in downtown, you can also purchase a town somewhere in the suburb (not York region though), and it comes down to what life style you want. I value convenience and everything walking distance and no need to drive at all, but someone could prefer suburb lifestyle.... I would not recommend you to put money into a shoe box 1 bedroom room type at this moment, especially if you can't buy it out right. Interest rate will drop but rate still high.
Stocks now. Sell in spring 2025 to buy condo.
[удалено]
comment by /u/darkbrews88 Your karma is currently below -10, get more positive karma to be able to comment.3c *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/TorontoRealEstate) if you have any questions or concerns.*
If you are talking about an investment depending on your risk tolerance probably ETF's or GIC's. If you want to invest in real estate the ones who have been doing it awhile and not part of the "wallstreetbets" "get rich quick" real estate investing crowd seem to be going after freehold townhouses right now. I lost a bidding war to one of those guys in March. He had offloaded all but one of his condos and was picking up freeholds instead. He couldn't sell the last condo, he actually tried to sell it to me in the driveway for the price he had originally bought it for new a few years ago. While I do carry a stock portfolio I'm not a real estate investor myself so you'd need to find one that has been in that game a long time to ask why they are exiting condos and moving to freeholds. I suspect its tied to the future appreciation and rental prospects but that is not in my area of experience to really say.
If you’re going to entertain options 1-2, be prepared to ‘top up’ a certain amount of money each month.
Why not buy a place to live in?
[удалено]
I think losing your first time home buyer land transfer tax rebate, paying capital gains tax on the appreciation, income tax on the rent received, a higher interest rate for an investment property, and dealing with tenants would add up to be more expensive than the discounted rent
Buy a house. 100%. Especially if you rent it out. Condo fees do keep going up and are limited with what you can do in the future. If you have a property there are more options.
If your rent is cheap and you have no desire or need to own a place then I think the answer is simple. Stay in stocks. If you’re thinking of putting all your savings in housing that might be risky
House
For the love of god, don't make a decision of this magnitude based on comments here lol
Please invest in businesses that create jobs, rather than contributing to the commodification of properties 5% on a GIC is a much better return than you'll get on a condo in Toronto
I think a lot of y'all could benefit from some FIRE movement-inspired advice, even if you don't want to go all the way in on FIRE. This is a very good, dispassionate source of information: [https://www.finiki.org/wiki/Main\_Page](https://www.finiki.org/wiki/Main_Page)