After cruising around the farms near my parent's I got a report of a pair of Cattle Egrets that had shown up at a neighbor's house. A bit unusual for the area and a lifer for me, I went to go see them. I don't know what I expected, but they're really just muppets. Hilarious bird, I love them.
233 Atlas Avenue, 265K loss in 5 years. I know 2021 was peak mania but not sure why you would pay 1.8mm + in that neighbourhood for a semi with no parking. High end finishes but still pretty wild.
Partner and I are looking at buying our first house. We’ve seen a couple properties we really like in the -1.6mm range. We’re mid twenties, have a -350k household income and 500k saved for a down payment + closing costs and plan to put 20% down. We were pre approved for a 1.3mm mortgage.
Our monthly costs will work out to ~$7300 a month when factoring mortgage + all non-food fixed costs. My parents are telling me this is a bad idea, but they’re a pretty fiscally conservative blue collar family and they live in a small farming town where you can still buy homes for 300K so their familiarity with the Toronto market is limited.
I know my savings rate will be low and I’ll have to cut back on other spending/hobbies but luckily I have a DB pension so I can reduce retirement savings for now. My partner also has relatively low income now due to being a medical resident (~65k after dues) but will be a speciality physician within the next 5 years so we expect HHI to increase. The question is, how painful will those 5 years be?