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The Great Canadian Tax Myth


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I do. All the time.

Right now we're bursting at the seems in a 950 ft^2 condo. And that's with no kids/dog. We need at least 1500 ft^2, some sort of yard, and a good amount of storage.

They have townhouses on the good side of the river but to get those kind of stats your looking at 450k if you can even find it (most of the townhouses are barely bigger than the condo) but if I am paying that much might as well get a house on the south of the river. We work on opposite sides of the river so someone is crossing some sort of bridge.

Are you trying to tell me that there's reasonable priced family accommodation to OWN on the north side of the river. Turn on MLS and hover of Burnaby with house turned on and you don't start seeing anything until your north of 600k.

If you think that prices are anything less than insane then you truely ARE inane!

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Actually tossed out a ton of stuff already (and this isn't stopping). Having giant house sized (gf family heirloom) furniture doesn't help. Already have to store my bike and winter tires at her parents as is. Already gave away a bed and a desk, through out a couch and a bookcase, donated a ton of clothing. Our current place is OK for the two of us but if we ever had kids....

Never mind that I like to cook and would like a freezer so if I bulk cut up my own meat and preserve my own veggies I would need somewhere to store all that stuff and the equipment. So even for the two of us I could pre fill up 1500 ft^2 easy.

So yes, much bigger space. It is what it is.

Budget? For a house 450k, for a townhouse 350k.

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I live in a 650sq ft condo in White Rock with about 5min a day of sunlight, :(.  i love the location though, White Rock will always be my home but I need a larger place bad with some sort of yard.  But I will never be able to afford a home on my own unless i marry or take in a tenant.Edit : It was 75k in 2004 when purchased now it's double in price since then.

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We purchased a 1600 sq ft townhouse almost 2 years ago in the Queensborough area, we need that kind of size since we have a baby coming in July.

It was $500K when we bought it.

Just wanted to add some info for the Richmond/New West/Delta area.

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Yes, there are also a handful of OECD countries that collect fewer taxes than we do, including the United States, Greece, Portugal, Spain, Ireland, Japan and Australia. Keep in mind, all but Australia have a larger public debt than Canada relative to the size of their economies. So they're not obviously strong role models.

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We purchased a 1600 sq ft townhouse almost 2 years ago in the Queensborough area, we need that kind of size since we have a baby coming in July.

It was $500K when we bought it.

Just wanted to add some info for the Richmond/New West/Delta area.

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It's actually what's considered affordable by traditional housing affordability metrics. Rest assured, I could go into the bank tomorrow and come out with a 600k mortgage approval by Friday but I have zero intention of joining the Canadian credit bubble just as it's about to go pop.

Just because everyone else was stupid and decided to leverage themselves to the teeth does not mean that I will be borrowing up to my eyeballs and then turn around to put all my net worth in one asset!

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It's not that simple. You commute every day from White Rock to Burnaby I think? Come up with what that costs you in a month ALL IN and your housing price point goes up. It's all a compromise. Seems you want your cake and to eat it too.

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One of the agread upon rules is that I have to be able to take transit to work. Ergo we either go a little ghetto in North Surrey walking distance (but a long walk don't want to be too close) to skytrain, live on the north side of the river, or potentially in cloverdale where one of the few decently frequent buses down Fraser Highway at least exists. (And you never know, one century they might put a Bline down there.)

But if you want to do costs sure, no problem. It would require a place walking distance from work that's around 300k since right now the mortgage on the condo is less than rent. My gf bought this place a long time ago so apart from driving to work it's pretty cheap.

I have thought about buying a jetta or something to commute in and that would be a positive cash flow move but I would need to commute long distance for five years. That ain't happening. Housing prices are already on the way down and the potential for a massive drop is good enough for me to simply commute. Besides, you never know, could always get a job with city of White Rock or even Surrey (they are practically in south surrey anyways) as a back up plan if prices don't go down.

Now if translink actually ever builds a King George Bline (not holding out for that since it's been in the plans for eight years at least and it just go freshly cut exactly as I predicted) then White Rock/South Surrey starts to look good again.

But don't think for a second I will live somewhere I can't take transit home from the canucks game. How the hell would I drink beer at the game? Right now though it's the one good service to white rock. Take Canada line and then get on the 351 (now there's a good bus!). Sure, on a saturday night it's an hour between but you can just pop into the River rock and have a beer and gamble a bit to pass the time so that's never a big deal.

Keep in mind that the GF works in North Surrey and won't take transit.

So needless to say I DO take transportation costs into a count. In fact, I do it to a an extremely complicated degree. Why do you think my price points and expectations are different depending on which side of the river I am looking at?

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Ron, may i ask you a question? though it's sorta-kinda personal.. but could you ask your GF what sort of annual salary her job nets? and any perks/plans that come with it? ill owe you one for sure..

edit: about the transit option... yeah. surrey and vancouver is pretty poorly laid out (mostly surrey tho). our transit can't handle it because everything is SO spread out instead of having the transit hubs surrounded by residential area's.

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