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04-19-2023, 12:30 PM
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#25751 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
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Originally Posted by van_driver  Anyone dealt with RTB recently or know how much time they give the tenant to move out?
Had a tenant sign a mutual agreement to end tenancy for June 1st. They decided to dispute it and told me in writing they're disputing just to buy more time. Tenant thought we wouldn't get a hearing for months but we end up getting a hearing date for June 27th. If the arbitrator finds the mutual agreement to be valid, how much time will they give the tenant to get their stuff out? | That's an interesting one,
If this is the form they signed: https://www2.gov.bc.ca/assets/gov/ho...forms/rtb8.pdf
I don't even know how a dispute is possible in this scenario, if the tenants signed it. The whole point and definition of the word "mutual" means there's not supposed to be any recourse.
I wish I could answer your question.
Make sure you recoup your rent for the extra time they're in your unit.
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04-19-2023, 12:39 PM
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#25752 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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Wondering what people in here are spending as a portion of take home income on mortgages right now.
I know what we can qualify for, and it's not a number I'm comfortable with, but curious what real world non 500k income model dating RS members are at?
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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04-19-2023, 01:15 PM
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#25753 | | To me, there is the Internet and there is RS
Join Date: Apr 2007 Location: Okanagan
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Quick math says ~36% of the take home is on the mortgage.
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Originally Posted by Good_KarMa OH thank god. I thought u had sex with my wife. :cry: | | |
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04-19-2023, 01:20 PM
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#25754 | | Where's my RS Christmas Lobster?!
Join Date: Jan 2007 Location: GVA
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Asking 1.7M/1.8M for new 1/2 duplex units in the Eastest Van: https://www.zealty.ca/mls-R2768476/4...-Vancouver-BC/
I wonder if they'll get what they ask. Nice that each duplex unit has a legal suite, that will help. But $1.7-1.8M is what a new 1/2 duplex units in much trendier parts of East Van ask, isn't it? E.g.: https://www.zealty.ca/mls-R2766398/8...-Vancouver-BC/
Stating in the MLS listing that it's "walking distance to Killarney Community Centre" - while technically true, that's a 35 minute walk per Google. Seems like an attempt to associate it more with Killarney ($$) vs. Renfrew-Collingwood ($).
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04-19-2023, 01:41 PM
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#25755 | | I contribute to threads in the offtopic forum
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Originally Posted by westopher Wondering what people in here are spending as a portion of take home income on mortgages right now.
I know what we can qualify for, and it's not a number I'm comfortable with, but curious what real world non 500k income model dating RS members are at? | ~50% of my take home right now goes to the mortgage - if and when I get back to having tenants it'd dip to as low as 40%. I would strongly prefer not to be spending 50% of my take home on the mortgage but I got boned by the interest rate hikes and have to live with it for the next two years. When I renew I hope to get down to 35-40% (with or without tenants).
My comfy number is at or below 35% - at that number I don't think about where I'm spending my money too much.
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Last edited by supafamous; 04-19-2023 at 01:48 PM.
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04-19-2023, 02:07 PM
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#25756 | | What hasn't Killed me, has made me more tolerant of RS!
Join Date: Feb 2017
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Originally Posted by westopher Wondering what people in here are spending as a portion of take home income on mortgages right now.
I know what we can qualify for, and it's not a number I'm comfortable with, but curious what real world non 500k income model dating RS members are at? | about 45% take home is going to the mortgage right now. variable has been painful. it used to be 33% pre-rate hikes.
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04-19-2023, 02:12 PM
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#25757 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
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Take home family income? ~20%
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04-19-2023, 02:22 PM
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#25758 | | Where's my RS Christmas Lobster?!
Join Date: Jan 2007 Location: GVA
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Initially, it was 48% of take-home (finishing training). Now down to 15-20% of "in my bank" take-home, true % is a little less due to some earnings staying in the corporation.
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04-19-2023, 02:24 PM
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#25759 | | in the butt
Join Date: Aug 2016
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Originally Posted by westopher Wondering what people in here are spending as a portion of take home income on mortgages right now.
I know what we can qualify for, and it's not a number I'm comfortable with, but curious what real world non 500k income model dating RS members are at? | 27% of take home to rent, single income.
Would be the same if I kicked my tenant out and moved back into my condo. (Mortgage, strata, fees, taxes, etc all in)
If I was to buy the condo I rent, today, i would be spending 60% of take home. (Mortgage, strata, fees, taxes, etc all in)
If I was to buy the condo I own, and rent out, today. It would be around 50% of take home. (Mortgage, strata, fees, taxes, etc all in)
Personally I don't have kids, and no car / student debt, and I don't like spending over 30% of my take home on housing. I would probably go as high as 40% if it meant I could buy another unit to live in. 50% is insane. 60% is batshit crazy.
I guess it depends if your dual or single income, do you have kids, and do you have car / student debt and how much you make / save.
Then again..... Anyone who went 60% by buying a house x years ago, vs a condo, has made WAY more money in appreciation. yeah yeah yeah unrealized gains we get it sizzle down, you know who you are
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04-19-2023, 02:50 PM
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#25760 | | SFICC-03*
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it was about 30% of takehome @ 2.44% 5 year fixed, now with my partner living with me its about 20% probably. we're selling now and gonna take on a larger mortgage at a blended rate, it'll probably be like 40%.
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04-19-2023, 02:57 PM
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#25761 | | I have named my kids VIC and VLS
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Paid 0% of take home to mortgage when we were at 1.4… uhg
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04-19-2023, 03:01 PM
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#25762 | | Rs has made me the man i am today!
Join Date: Mar 2006 Location: Vancouver
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Pre hikes, we were at ~37.5%
Post hikes we were at ~55%. Mind you we were under paying and our amortization period is now something like 50 years
Post-partem and wife on mat leave, we are like 60% since she has top up. I'll be worse after her top up ends in a few months.
That doesn't include property taxes or insurance and the whole shebang of owning a home. Yeah we are broke af.
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04-19-2023, 03:09 PM
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#25763 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2005 Location: Revscene
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Originally Posted by Gh0st about 45% take home is going to the mortgage right now. variable has been painful. it used to be 33% pre-rate hikes. | Same here on the percentages and variable changes.
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04-19-2023, 03:17 PM
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#25764 | | Willing to sell body for a few minutes on RS
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Yeah we were at about 20% before now up to like 30% with some short term HELOC repayment for our new car.
Trying to wrap my head around getting up to 35% to maybe even 40 to get something larger (debt will be gone in that process) but I'm scared about not having the flexibility for such an increase. If interest rates were guaranteed to go back down I'd have no problem if it was temporary, but I'm not feeling like they will. BOC just doesn't seem to care that the cure to inflation is actually just costing people more money than the inflation itself. It's like cutting off your leg to stop your hand from bleeding.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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04-19-2023, 03:20 PM
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#25765 | | My dinner reheated before my turbo spooled
Join Date: Mar 2005 Location: Vancouver
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~20% of the household income to mortgage. another 5% for the strata and insurance. We're self employed so this varies a bit. During covid we cut our income down to bare bones levels. Retirement investment suffered the most.
no other debts. car storage and insurance is painful though. I piss away a lot of $ keeping my motley fleet on the road and out of the elements. I figure it's about what some of you spend on your kids.
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Originally Posted by westopher replace that wood for who gets producer the wood. | | |
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04-19-2023, 03:36 PM
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#25766 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
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16% currently. Have to buy a bigger place with the arrival of kids. Spoke with my mortgage broker last week, likely going to jump up to ~50% of take-home. And that is if we can get a blended rate lower than 4%. Scared as shit.
Agree with Westopher, we are getting hit from every angle.
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04-19-2023, 04:11 PM
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#25767 | | Rs has made me the man i am today!
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60% of take home on mortgage is rough, but we have some help. Both sides parents chip in for food as they host dinners once a week and bring us food every now and then. Helps the sting of groceries inflation.
Daycare costs for the older kid has decreased twice in the last year. We switched daycares going from 1150 -> 950 which also considerably shorten the commute, then the new benefit kicked in so it dropped to 550.
Being in tech has been rough though. Got laid in Nov. Found a new job finally in Feb and managed to only lose two weeks of pay after counting severance, and thankfully only less about $200 a month in my paycheque. The market is rough. We bought the house planning on rate increases of up to 2%, we didn't expect unprecedented hikes of 4% over one year. We were banking on measurable income gains for the next few years as I am in my prime. Did not expect the tech sector to take a shit amid booms for every other sector. I don't think I am getting a raise for the next 18 months.
I still don't regret taking the plunge on the house though. It's amazing to see my son LOVING the extra space. He's been sick a lot being a covid baby and not being exposed to regular sicknesses when he was younger. When the weather is shit, and he's under the weather, having the extra space at home helps him, and it helps us stay sane.
Our youngest was admitted to Children's at 2 weeks old in Jan for contracting RSV. Because we are in Vancouver, the commute to and from the hospital 2-3 times a day was made much easier being only 10-15mins away. The cost of the house being in Vancouver proper vs something like Burke Mountain made so much sense and was worth every single fucking penny.
For those 4 days in the hospital. It was worth it.
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04-19-2023, 04:17 PM
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#25768 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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I feel like this belongs here...
Hell Hath No Fury Like A Woman Scorned  | 
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04-19-2023, 04:34 PM
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#25769 | | Rs has made me the woman i am today!
Join Date: Apr 2013 Location: revscene
Posts: 4,047
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Originally Posted by westopher Wondering what people in here are spending as a portion of take home income on mortgages right now.
I know what we can qualify for, and it's not a number I'm comfortable with, but curious what real world non 500k income model dating RS members are at? | 51% of take home at the moment. I'm up for renewal and the best option is 36 Closed, 5.99% fixed, with a $3,367.91 renewal fee or 36 closed, 6.29% with a $200 renewal fee. The difference in biweekly payment is only $60 ish, but I'd have to pay 3.4K to "save" (or payoff more) $1.1K.
Either way with these new crappy rates, it'll push the ratio to ~63% of takehome.. kinda fucked.
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04-19-2023, 04:55 PM
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#25770 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
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Originally Posted by westopher Wondering what people in here are spending as a portion of take home income on mortgages right now.
I know what we can qualify for, and it's not a number I'm comfortable with, but curious what real world non 500k income model dating RS members are at? | I just did some rough math, about 17% of our take home accounts for our mortgage, that will change when we re-up in 18 months.
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“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I don´t care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. That´s how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa | |
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04-19-2023, 05:08 PM
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#25771 | | I subscribe to the Fight Club ONLY
Join Date: Oct 2016 Location: Ricemond
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Originally Posted by PeanutButter I feel like this belongs here...
Hell Hath No Fury Like A Woman Scorned | HEY AWESOME!!!!
Last edited by Badhobz; 04-20-2023 at 12:15 AM.
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04-19-2023, 06:33 PM
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#25772 | | Hypa owned my ass at least once
Join Date: Aug 2007 Location: Paradise, BC
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Originally Posted by PeanutButter I feel like this belongs here...
Hell Hath No Fury Like A Woman Scorned | It goes without saying that this is only one side of the story. I also like how the wife doesn't place a single ounce of blame on her dear husband, and instead directed everything as the other woman's fault.
Hell hath no fury like a woman scorned indeed LOL~
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04-19-2023, 06:45 PM
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#25773 | | Hypa owned my ass at least once
Join Date: Aug 2007 Location: Paradise, BC
Posts: 6,585
Thanked 6,309 Times in 2,515 Posts
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Prior to the rate hike, our mortgage was ~42% of our income.
Currently, we're sitting at ~53%. 
I'm supposed to get a raise this year, but even then, I'd still be house-poor. But I very much echo EvoFire's sentiments of hunkering down with a CoV address, although for some entirely different reasons -- we're in a good neighbourhood and are still close to our parents. And bcos of the proximity, the grandparents are able to build a very good relationship with our kid while thoroughly enjoying the process themselves. The free daycare / after school care aspect is just icing on the cake.
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04-19-2023, 07:14 PM
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#25774 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by BIC_BAWS 51% of take home at the moment. I'm up for renewal and the best option is 36 Closed, 5.99% fixed, with a $3,367.91 renewal fee or 36 closed, 6.29% with a $200 renewal fee. The difference in biweekly payment is only $60 ish, but I'd have to pay 3.4K to "save" (or payoff more) $1.1K.
Either way with these new crappy rates, it'll push the ratio to ~63% of takehome.. kinda fucked. | Which bank? I'm seeing people get under 5% pretty easily: https://www.reddit.com/r/PersonalFin...ing_something/ - 4.69% 5 years https://www.reddit.com/r/PersonalFin...d_or_variable/ - 4.9% 3 years
I've seen lower than that with some older posts.
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04-19-2023, 07:49 PM
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#25775 | | I *heart* Revscene.net very Muchie
Join Date: Apr 2014 Location: Van
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Lol I was waiting to see the unedited pic
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