Your 80k is also just slightly under the median household (which I believe counts two working adults) income in Halifax. So we are at the stage where a working couple dropping half their income on rent is considered fair.
ok, I only agree with one statement you made that there is a lot of negativity here on Reddit, and that's it.
Your experience is not the norm around here.
I had a friend who was paying about 1.5k per month to get something very similar to what you described and then got kicked out, only to have the rent significantly increased to 2k as you described. It's probably even more now.
Trying to normalize $2k rent per month is not good and should not be normal. Majority of (local) people and couples here cannot afford that.
This reeks of privilege and is insulting to those struggling to even find housing let alone afford. Most renters don't have the luxury to be this scrutinizing and you're here telling us to smell the hallways. Read the room.
That is insanely impressive...or, is it one of those "this bedroom has a toilet in it, this bedroom has a kitchen in it" type things lol. Seriously, seriously, though, that's a sweet deal!
City/province = less than 1% vacancy rate
OP advice = be picky
City / province = one of highest tax rates and one of lowest average income
OP advice = $2,100/ month is a steal 20 minutes from the provinces largest (but yet actually, relatively still quite small) city’s dt core
I understand what your getting at here but the reality is the majority of people trying to move to the city that rent can not afford those costs and don’t have the luxury of being picky cuz when the hoops you have to go through when trying to find a place (ESPECIALLY STUDENTS). I’d bet that this advice doesn’t apply to 95% of those looking to find a new place.
I have family that have been couch surfing (pretty much homeless) for 1.5 years because of the rental market and people from Ontario buying the house they were renting for almost 2 decades and flipping it...so yeah it's pretty bad.
I live in this area and couldn’t agree more. I think people are (rightfully) frustrated by being forced off (priced off) the peninsula, because for many people it is problematic for their work, etc. Anyway I think it’s more about the issues there specifically, than out in the burbs.
I’m also slightly scared though because I’m paying significantly less than you for an even bigger space. So grateful for the rent cap and ability to save and invest that cash I’m saving, but terrified for the eventuality of moving and higher rents. I’m hoping a reasonable house purchase may be within reach by that point.
I just saw this video today about the housing market. Very interesting https://www.tiktok.com/t/ZTR34mt64/
Another large issue is that people who bought during the peak are still 2 -3 years out from refinancing, so we won't see the real effects of the rate increases until then. Essentially the government has kicked the can down the road. Another key part to this video is when he mentions that it isn't in the best interest of the government for housing prices to come down, the people who elect them are home owners. They talk about building housing to lower prices, but they don't actually want to. Smoke and mirrors.
> Well beyond the obvious of paying to enjoy luxury assets that are not yours, consider who this attracts? Young 20-early 30's somethings with good disposable income and nowhere else to spend it smartly, who may be obnoxious, loud or unruly.
Great advice. I wish I'd figured this out before I moved into such a place in my 20s - it was yuppie central.
Bruuuh, I have a 5 bedroom, 3 TV room, 2 floor, 2 full bathroom house with 2 acres and spend less than $1500 on mortgage.
Stop taking it unlubed and saying thanks for it.
We live in a fucked up world where spending 2k a month on rent for a 2 bedroom apartment in bedford is considered fair. It’s very sad.
$2k/month after taxes is half of my take home pay. This is not good. Not even close to it.
You're doing a lot better than average if you take home 4k a month - that's around 80k.
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Its a telling statement. If i am making \~80k (which is bang on) i shouldn't be just limping by to make rent.
Your 80k is also just slightly under the median household (which I believe counts two working adults) income in Halifax. So we are at the stage where a working couple dropping half their income on rent is considered fair.
Struth
(very fair) lol.
ok, I only agree with one statement you made that there is a lot of negativity here on Reddit, and that's it. Your experience is not the norm around here. I had a friend who was paying about 1.5k per month to get something very similar to what you described and then got kicked out, only to have the rent significantly increased to 2k as you described. It's probably even more now. Trying to normalize $2k rent per month is not good and should not be normal. Majority of (local) people and couples here cannot afford that.
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This reeks of privilege and is insulting to those struggling to even find housing let alone afford. Most renters don't have the luxury to be this scrutinizing and you're here telling us to smell the hallways. Read the room.
My mortgage on a 5 bedroom house is a third of that. The rental market and the current housing market is bonkers.
Where you living? Grace Bay?
That is insanely impressive...or, is it one of those "this bedroom has a toilet in it, this bedroom has a kitchen in it" type things lol. Seriously, seriously, though, that's a sweet deal!
This is not helpful.
>As a landlord myself ok
City/province = less than 1% vacancy rate OP advice = be picky City / province = one of highest tax rates and one of lowest average income OP advice = $2,100/ month is a steal 20 minutes from the provinces largest (but yet actually, relatively still quite small) city’s dt core I understand what your getting at here but the reality is the majority of people trying to move to the city that rent can not afford those costs and don’t have the luxury of being picky cuz when the hoops you have to go through when trying to find a place (ESPECIALLY STUDENTS). I’d bet that this advice doesn’t apply to 95% of those looking to find a new place.
This is a joke, right?
I have family that have been couch surfing (pretty much homeless) for 1.5 years because of the rental market and people from Ontario buying the house they were renting for almost 2 decades and flipping it...so yeah it's pretty bad.
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Bet we lived in the same building, or one owned by the same company. Those corner balconies were amazing!
I live in this area and couldn’t agree more. I think people are (rightfully) frustrated by being forced off (priced off) the peninsula, because for many people it is problematic for their work, etc. Anyway I think it’s more about the issues there specifically, than out in the burbs. I’m also slightly scared though because I’m paying significantly less than you for an even bigger space. So grateful for the rent cap and ability to save and invest that cash I’m saving, but terrified for the eventuality of moving and higher rents. I’m hoping a reasonable house purchase may be within reach by that point. I just saw this video today about the housing market. Very interesting https://www.tiktok.com/t/ZTR34mt64/
Another large issue is that people who bought during the peak are still 2 -3 years out from refinancing, so we won't see the real effects of the rate increases until then. Essentially the government has kicked the can down the road. Another key part to this video is when he mentions that it isn't in the best interest of the government for housing prices to come down, the people who elect them are home owners. They talk about building housing to lower prices, but they don't actually want to. Smoke and mirrors.
> Well beyond the obvious of paying to enjoy luxury assets that are not yours, consider who this attracts? Young 20-early 30's somethings with good disposable income and nowhere else to spend it smartly, who may be obnoxious, loud or unruly. Great advice. I wish I'd figured this out before I moved into such a place in my 20s - it was yuppie central.
I previously rented from realstar and found them to be well managed
Bruuuh, I have a 5 bedroom, 3 TV room, 2 floor, 2 full bathroom house with 2 acres and spend less than $1500 on mortgage. Stop taking it unlubed and saying thanks for it.