Author Topic: Should I use a Canadian robo-advisor? If so, which one?  (Read 50539 times)

Le Barbu

  • Handlebar Stache
  • *****
  • Posts: 1051
  • Age: 48
  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #300 on: June 02, 2017, 12:22:39 PM »
What are the rent for nice place close to work? If you can get something for 1,500$/month, I would never bother buying a 220-300k$ house. You are single? Couple? How many children? My house worth 350k$ in actual market and I would sell and rent the same place for 2,200$/month if someone was fool enough to agree!

My Mom's cousin worked as a real estate agent for over 40 years and had 2 rules: Green is the worst color for a house and never own 2 places at the same time.

Lews Therin

  • Magnum Stache
  • ******
  • Posts: 3100
  • Age: 30
  • Location: Gatineau
  • Used to be Canadian Ben
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #301 on: June 02, 2017, 12:28:03 PM »
The semi I'm looking at is 184k (list price).

Similar houses would rent at 1500+ easy.

All costs included (including opportunity cost of the downpayment is less than 1k)

Buy > rent

Le Barbu

  • Handlebar Stache
  • *****
  • Posts: 1051
  • Age: 48
  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #302 on: June 02, 2017, 12:42:55 PM »
The semi I'm looking at is 184k (list price).

Similar houses would rent at 1500+ easy.

All costs included (including opportunity cost of the downpayment is less than 1k)

Buy > rent

Reasonable price for Ottawa area! Dont forget the 1% rule (monthly rent/price) that factor for mostly everything: interests, taxes (muni+school), insurances, snow removal, maintenance, repairs, and risk because house is a illiquid poorly diversified asset, subject to loose value when interests rates rise.

Lews Therin

  • Magnum Stache
  • ******
  • Posts: 3100
  • Age: 30
  • Location: Gatineau
  • Used to be Canadian Ben
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #303 on: June 02, 2017, 12:51:36 PM »
Yup. those are all included in the 1k/month for buying estimate.

Le Barbu

  • Handlebar Stache
  • *****
  • Posts: 1051
  • Age: 48
  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #304 on: June 02, 2017, 02:06:32 PM »
Yup. those are all included in the 1k/month for buying estimate.

Good! Just be carefull at owning 2 houses then

Lews Therin

  • Magnum Stache
  • ******
  • Posts: 3100
  • Age: 30
  • Location: Gatineau
  • Used to be Canadian Ben
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #305 on: June 02, 2017, 02:14:51 PM »
Ah I see the confusion.

I'm just waiting for the one in Qc to sell.

I have 6 months during which the forces pay the mortgage interest+taxes on it.

Should easily sell by then. I'm not actively trying to keep it, but the market is just so slow.

Le Barbu

  • Handlebar Stache
  • *****
  • Posts: 1051
  • Age: 48
  • Location: Québec
  • I really didn’t say everything I said - Y. B.
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #306 on: June 02, 2017, 02:21:42 PM »
Ah I see the confusion.

I'm just waiting for the one in Qc to sell.

I have 6 months during which the forces pay the mortgage interest+taxes on it.

Should easily sell by then. I'm not actively trying to keep it, but the market is just so slow.

Way to go budy!

powersuitrecall

  • Pencil Stache
  • ****
  • Posts: 514
  • Location: Ontario, Canada
Re: Should I use a Canadian robo-advisor? If so, which one?
« Reply #307 on: June 14, 2017, 08:25:38 AM »
@ Canadian Ben: Any reason you don't just rent in Ottawa for a year or so?  It would give you time to get the lay of the land and settle your QC house.  Are there military resources for people doing a relocation?