If I could only know, Mr. Adamthorat.

I've been hunting homes these days for upgrade. Not a single frigging home worth its salt (3 level) in a decent 'suburban' neighborhood is less than 600k. Vancouver proper start from a million, no less. Anything less than that is rundown. Go figure. At times, I feel like crying and abusing my fate to ever left GTA. But then, Brampton has also come up with its own version of 600k Airport Road homes. Milton was once a sleepy town, and now boomed up so bad. It's all about timing, I guess.

Don't worry, Ontario's $11.25/hr is not that far and better than 10.45. People are lobbying for $15/hr here, but who listens.

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Originally posted by febpreet


I've been hunting homes these days for upgrade. Not a single frigging home worth its salt (3 level) in a decent 'suburban' neighborhood is less than 600k. Vancouver proper start from a million, no less. Anything less than that is rundown. Go figure. At times, I feel like crying and abusing my fate to ever left GTA. But then, Brampton has also come up with its own version of 600k Airport Road homes. Milton was once a sleepy town, and now boomed up so bad. It's all about timing, I guess.

Don't worry, Ontario's $11.25/hr is not that far and better than 10.45. People are lobbying for $15/hr here, but who listens.

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Yup ..NOTHING but pure greed & speculation & house flipping & low interest rates is the reason behind these exhorbitant prices in BOTH , GTA & GVR.

The salaries & incomes are just NOT there to support these kind of prices.

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You can be rest assured that you are not alone in home hunting difficulties in Vancouver.
I read an article in Globe and Mail(see below) 2 days ago about how hot the market in Vancouver is. This highly qualified couple with 20% down-payment are unable to find one. They have presently chosen to post-phone their search.
It is sad when real estate greediness has the upper hand over simple desires such as owning a home.
There should be a mass movement where common man should completely boycott buying houses such that house prices should fall down to 300K.

The full article at:
http://www.theglobeandmail.com/globe-investor/personal-finance/great-jobs-cash-in-hand-but-no-chance-in-hot-housing-market/article23516653/

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How's it going in GTA? What can you find in $550k? Is it possible that I may find a 3 level detached (2 garage and finished basement) for this price? I was in GTA in 2012, and all the DECENT neighborhoods in Brampton were going for at least $600k (i.e. Airport Rd., Near Golf course Bovaird, etc.). Mississauga is out of reach now, and I think Milton is getting ahead of itself too. I haven't checked the MLS for GTA lately, but I think when I look for the houses under $550, I always get a few detached ones. Are they in good neighborhood within Brampton? How's Burlington prices?

I could make a move to GTA, but I (alongwith family) are $hit scared of the severe cold. Vancouver has this positive on the weather front. I think I would have to move to the far away burbs to afford something in my desired range here in Vancouver.

I know the other 5 families that are in the same dilemma as mine. all are professionals, making at least $100,000/annum, but in the cold when it comes to affording anything in Greater Vancouver.

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Originally posted by febpreet

How's it going in GTA? What can you find in $550k? Is it possible that I may find a 3 level detached (2 garage and finished basement) for this price? I was in GTA in 2012, and all the DECENT neighborhoods in Brampton were going for at least $600k (i.e. Airport Rd., Near Golf course Bovaird, etc.). Mississauga is out of reach now, and I think Milton is getting ahead of itself too. I haven't checked the MLS for GTA lately, but I think when I look for the houses under $550, I always get a few detached ones. Are they in good neighborhood within Brampton? How's Burlington prices?

I could make a move to GTA, but I (alongwith family) are $hit scared of the severe cold. Vancouver has this positive on the weather front. I think I would have to move to the far away burbs to afford something in my desired range here in Vancouver.

I know the other 5 families that are in the same dilemma as mine. all are professionals, making at least $100,000/annum, but in the cold when it comes to affording anything in Greater Vancouver.

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I agree, Rajagopal. However, uprooting is tough especially when you have to look for the job as well. Otherwise, I like the GTA. If the difference in home prices is huge then I don't mind the move.

When you say 'affordable', can you tell me if one can buy 3 level (with finished basement, 2 car garage detached, less than 12 years old house) for $550k in a decent neighborhood with good schools? If the difference between Van and TO is a mere 25-30k, then I think it doesn't make any sense in uprooting myself. I equally don't want to live in a crappy neighborhood with downtrodden schools either. Trust me, Brampton doesn't fare too good with this. Mississauga, Milton, Vaughn, Markham, Richmond Hill, Woodbridge are in the same bracket as Greater Vancouver burbs.

Also, if I have to pay additional $200/month in the increased Car Insurance (BC's is the cheaper) then at the end of it, the difference in the home prices don't really matter that much.

I think I should suck it up .

You will find what you are looking for in Whitby, Ajax especially in Oshawa. These are all good, clean and safe neighborhoods. In fact, 550K will get you more than what you want in Oshawa. They have good GoTrain facilities too, if you were to work in downtown.

MLS will not tell you everything. A good real estate agent will get you more for less. Financially, you will be in better position as a buyer than a seller.

In 3-4 years, even these areas will rise upto Vancouver levels. Rent for a year in Toronto to see if the cold is unbearable for you(especially women in household).