How ironic is that to live to live within your means. I admire your guts rather than a wimp.

Thank you 😊 I 100% agree sa pag kakaroon ng emergency fund. We're slowly building it back and hopefully matapos na ung basement para ma encash na yung fund sa lawyer hehehe.

You forgot to factor in bank interest of the mortgage

@@pinkandspice1691 kasama napo sa mortgage :) pero sana wag na tumaas hehehe.

Appreciate the feedback po :) will do.

100% correct! My son is book smart and thinks he knows it all. LOL. I have proven to him many times that being street smart, using common sense, timing, listening from people older than me and everything I learned at University of Hard Knocks are worth more than gold. He would argue with me before but now he listens when it comes to finances. I've been through recessions but I survived unscathed and even made great money when the market bounced back up. I also teach my son car and house/yard maintenance in order to save tons of money.

That's awesome! This past couple of videos gave me a lot of insight, indeed. We'll do our best to incorporate them for our future decisions :) thank you so much 😊

Your comment nailed it. Mashadong 'rookie' moves. Good luck sayo, hope you can sleep well at night.

I agree 100% :)

Good point. We'll keep this in mind :)

We'll upload the reason for that as well :)

Correct! They rushed and had a case of FOMO big time. They should have waited, most especially that their immigration status is still up in the air, not PR yet. Counting money that is not even in their hands yet is not a good plan. A lot of things went wrong in their situation. What if basement project goes over the budget? What if one of them gets laid off or gets sick? People get in trouble with their finances by overextending themselves. If I were them, I would rent for now and save money, buy when the housing market crashes, and it will. We are due for a housing market correction, recession or a downturn. Experts say by end of this year or next year, we will have a recession. There are many expenses in being a homeowner, including house maintenance/repairs, appliance replacements, property tax and home insurance that increase yearly, HOA, etc.A house can quickly become a money pit.

Risks are everywhere whatever decision we do, there will always be a risk of something going south. Thanks for the input, we'll keep that in mind :)

All I can say I good luck.

Yeaa! God bless po

Thank you po. These past videos actually became an eye openner samin hehe

CPA kasi sir😊😊😊

Thank you po! 😇

Thaaank youu! 😇

Hello po yes family and friends lang po :) All permits are in place po for a bedroom, but not as secondary suite dahil wala pong separate entrance.

That’s good to know para iwas na rin sa sakit ng ulo if ever.

@@emeyjee opo hehehe. Lately puro financial decisions namin nasa YT namin and madaming sari saring comments. My job now is to read them thoroughly and mag internalize hehehe.

I think you missed the point of why we did it po :) but anyway, of course that's not the life we wanted in the long run. But with current situation, if we can save doing this, why not? Check the rental situation po dito :) madami samin po nag rerent lang ng room. Again, as I said po sa video, depende po ito sa perpective nyo and goals ;)

Im praying for that po 😃 sana mag linya linya ang stars on our favor hehehe 😀 God bless po

Salamat po 🥰🥰 agyaman

Thank you po 🥰🥰🥰 God bless sa journey!!

Eye openner comment! No, we didnt factor in the significant economic downturn that happened 8 yrs ago. But we did a stress test on our income if we can sustain the cost of owning a house without any kasama sa bahay, and worst comes to worst, makakain ng accommodation budget ang inalot namin for monthly savings for those periods. Nasa 5 to 10% nlng matira sa monthly income namin after deducting everything. As to taxes, yep, its not easy to explain but everything is well taken care of on that side of the equation. As to the repairs, that will be taken care of by our buffer po. (Prev vs current out of pocket) Thank you for sharing your insight po. That is something na kailangan ifactor in sa future decisions namin.

Very true. Walang historical information. Yun basis of being aggressive is the demand of rental market due to influx of I.S.

Yes currently po 30% :) percentage kame mag budget na hehehe

+ property tax

I just dont want to complicate things talking about opportunity loss for the DP as things will get ever more complicated if we factor in the forgone income of the 5%dp tied to the house. But simply multiply that by your expected return and add that to cost of owning a house. For quali, I made it simple and straight forward, basing everything on our personal circumstance po, if you plan yo have kids, your quali will be completely different than ours. If you have relatives in the same area or planning to come to Canada, that will also impact that. Thank you for bringing this up :) we'll keep those in mind for future ref.

Prop taxes was factored in napo sa other exp na $850 ;)

Depends how you look at it po. :)

What? We bought our house in Calgary for $107K 30 yrs ago and now it’s worth almost a million. When we sell, move to small house further away from Calgary, we can retire comfortably. I can prove you wrong with your analysis sir😜

😇😇

Agree. :)

hindi naman kumplikado, yan talaga dapat ang alam ng taong nagaacquire ng asset. nagiging responsable sya. dapat ganyan talaga, para alam mo kung good or bad yung gagawin mo.

Fingers crossed 😊 hehehe

Agree :) to minimize the risk :)

Yea we forgot to include rep and maint. For now we are good having lower out of pocket cost than before. We will look into other options as we go along :) thank you po.

Yung lang hehe mahal daw jan sa toronto :)

Yes there are so many undisclosed unexpected expenses sa previous video, aside from basement and furnishing the house po. Pag nag materialize na yung pinag kagasutsan, tsaka po namin siguro ipublic para di majinx hehe

@@DREYsCanadaVlog agree! Mas okay na move yun. Actually kung ang nangyari is nag disclose kayo sa yt nung na overcome niyo na yung situation niyo. I think mas positive feedback yung mangyayari. Opinion lang nmn po yun. Not a hater.

@@SerranoPau yeaz po, there are things we need to withheld from the public view for the meantime. Thanks for sharing your insights po.

@@DREYsCanadaVlog yup. Kasi na disclose kasi yung maximizing credit limit, banks limit and your’s brother’s tuition fee. Medyo red flag sya.

@@SerranoPau yes po hehehe but that's what actually happened hehehe

Thanks! 😊

Glad it was helpful!

We just got really lucky po sa timing hehe

100% agree, dont push too much :)

You obviously don't know the benefits of leveraging which you can't get from stocks unless you trade with margin which is extremely risky

@@robocop581 risk kung hindi mo aralin ang stocks, sector, kung anung date or buwan pweding tumaas at kilan ka pweding mag enter and exit, kc kung hayaan mo lang ung 30% gain mo sa isang buwan mababawi ulit yan, kaya wag mag focus sa isang sector, kc kahit sa mining companies meron yan silang rotation sa pag gain at pagbagsak

​@@naughtydanna7003 Like I said, you clearly have no clue about leveraging. I own properties and stocks and the main difference is I can use 90% of the bank's money to purchase a property while in stocks I have to put up 100% of my own capital.

edi sana kung totoo yan sinasabi mo milyonaryo ka na sa Canada🤣🤣

O nga po eh sana bumaba narin parang maging affordable na ang pag bili.

Thats a really good insight! Our ability to move from one city to another might be the biggest con compared sa flexibility ng rentinf. Thank you for taking time to share this.

Spot on! Good plans. No need to rush. Recession is on the horizon. Mortgage loan rates are too high and people are struggling to pay for their mortgage. Housing bubble will burst soon. Foreclosures have started happening.

Canada Housing Bubble is popping very soon. 🏡 Last was I think around 2008-ish.

@@alodias.4743 the 07-08 crisis. Such a scary time for everyone.

@@alodias.4743 yes, it was in 2008, same in US. we are due for a housing pop.

Pwrde po pero 20% down yata hehehe

Depends how you define "buying" po there are 2 ways to buy, buy in cash and buy thru loan. We did buy this house by securing a mortgage as we dont have cash to pay it upfront. :) hope that helps.

Yes po possible po thru visit visa

Renters are family and friends lang po. Upstairs are occupied by us, my brother, and a friend. Downstairs is already committed to a relative who is coming really soon.. For background checking, at a later stage when we decide to rent this unit out to others, probably we will do a bg check po. But for now, not needed. :)

@@DREYsCanadaVlog thanks for the info! If you don’t have relatives kasi who are migrating near your city parang risky pa din kasi magparent out. The landlords have the right to choose their tenants b? The landlords don’t have a say if you want pinoys only? Is it 2 months upfront 1 month advance payment? also do you have to declare your rental income as taxable income?

You're right po, risky mag parenta, kasi you are not allowed to choose the nationality ng mag rent, but you can choose based on employment and other things for your security. Normally they do 1 month advance, 1 month deposit. Declare as rental income, yes you should po.

Not recommended to do 3 or 4 jobs just to get a house.

Maybe yes maybe not, depende po sa perspective nyo :)

Yup. Sa situation p na to. Well spending more that what you have ma ooverdrawn talaga sya. And hopefully after all the charges from your cards. Ma gain niyo din pabalik thru room for rents. Which passive naman income dun.

After ng basement reno we will get the proceeeds from the lawyer po so that should pay off the cc debt immediately

After ng basement reno we will get the proceeeds from the lawyer po so that should pay off the cc debt immediately

Yes po, but at the end of the day, if you do it right, you might end up paying nothing sa tax. due to tax deductions na pwede mo iavail. This is a little bit complicated dahil madaming moving parts, but if you plan to minimize taxes I suggest talking to a tax consultant po. You can also reach out to me to help you plan your taxes ;)

1 train ride po. Kaya lang naka commit napo ung basement hehe.

Yes po. Edwin@dreyscanadaportal.com po

@@DREYsCanadaVlogthanks po! Will drop you an email soon. Still waiting for my LOA po.

If may OWP ka yes kaya. If solo mahirap

25 yrs po :D

Hindi po hehehe elyu.

@@DREYsCanadaVlog kala ko po pangalatok din hehehe

Please give me your insight after watching ;)

Would love to hear it.

Sir Drey galing galing nio at bumili na kau pinakamagandang ginawa.nio yan you're so smart dahil alam na alam.nio ung ginagawa nio like us b4 noon noon pa iniicip ko na din ang bumili ng bahay here in US nmn nag.compute din ako ng nag compute like you pero mas matalino ka kesa sa akin dahil kapag nag rrrent konti konting konti lang ung difference then at the end maibbbenta yan at free free kang kumilos at mag garden bravo ung decision dahil sa pagkuha ng.bahay lalu pa kung US AT CANADA aaaralin ntn mabuti pppano blah blah blah ganyan ganyan din ung ginawa nmn pag kkkaiba lang is mi business kaung.gggawin sa binili nio at kkkayanin din yan lalu pa tulad mo galing galing magcompute at.magplano pero sa.mahina ang loob huwag ng kkkuha pero sa tulad ntn 2 parehas na parehas tau b4 ung pera kung saan lang napppunta bili ng ganto bili ng ganyan now na mi binabayaran di ka ma ggguilty na di makabigay o tumulong na wala nmn pa ty kaya the best decision ung ginawa ntn at nakkktuwa din ung nangyari sa amin as in ganon din nmn ung salary nakapagawa pa ng bahay sa PINAS na 300sqm ang flooring at mi 5 bedroom at 5 cr 2 yrs ginawa un 2020 to 2022 natapos sa awa ng Dios mas umapaw pa ung pera ewan ko kung bakit di kami nagipit GOD IS GOOD ALL THE TIME subscriber mo ako at napakatalino nio sa moves na ginawa nio kayang kaya nio yan imagine mong maging below 1000 na lang ung ibbbayad nio happy happy pa no eviction talaga like us at nasa centro pa kami ng city here in US ung nakuha nmn bahay accessible sa lahat sa train,at sa buses how lucky we are decision & planning lang yan pagkuha ng bahay

​@@DREYsCanadaVlogsir Drey paki shout out mo nmn ako sa lahat ng blogger the best ka ang dami kong pinapanood na Blogger sa Canada top 5 ka

​@@DREYsCanadaVlogi mean sa top 5 di nmn ibig sabihin pang 5th ka sinusundan ko Sir Soc,Kuya Puto,Vamos Family,Sir Rice plus ikaw c Aldwin& Emma oks din un

kuya nak register nako po last week po pde nyo b ako i conneect po sa immigration consultant nyo po?

We replied po sa email can you check spam folder po?

@@DREYsCanadaVlog hello po kuya wla po? :( ikawb mismo nag email po or consultant po?

Yes thats the biggest con. But right now we are comfortable kasi kapatid ko ung nasa isang room and later sa basement relatives lang din :) this may or may not work depende sa situation hehehe..

:)

Thank youuu!!. Not yet, bio request is standard within 24 to 48 hrs. God bless sa application!

Find a job sa jobbank po, that way, pag land monsa Canada hindi po kayo ma tengga. Mejo competetive lang pero doable naman. Hanap lng ng employer na mag bigay ng LMIA