what if you're living in a condo in surrey
retire in an apartment in merritt?

why is it not right? people often their home equity for kids' educational fund, why not for retirement?

Different markets may change appreciation over time, but the end goal remains the same - security in retirement.

Home equity and leverage is the significant advantage that home ownership offers, but there's an incredible stigma around it. I argued that it wasn't right because those on the sidelines of the real estate market have continued to complain that it's been one of the reasons why politicians have been reluctant to crash the real estate market.

Saving for retirement is the same as paying down your mortgage. Your end goal is to be debt free and retire comfortably. If that means selling and downsizing from Vancouver to abbotsford then so be it.

If you are downsizing from a $500k condo on like Joyce. How much cash would we get from moving to Abbotsford. $200k? That would actually be enough to supplement your retirement I guess. It'll be like $10,261 annually at a 3% return from 65 to 85. Plus you'll get CPP + OAS which amounts to roughly $14.5 - 28k a year. By then you'll probably have little to no expenses. Do you see yourselves still being interested in cars at that age.

Why even wait for retirement or think even bigger than Abbotsford, I’ve got half a mind to sell my $600k cardboard box condo in Vancouver now and go start a business in *insert southeast Asian/South American country here*... Vancouver really sucks balls nowadays

sure and i see a lot of people talking down on Vancouver...whether the ones who grew up here/have attachments actually move away is another story

Why the valley? If I move that far I might as well go to Calgary, you can easily pick up a detached house for 400k. Plenty of garage space for toys and no vis.

The only problem with buying a house in Calgary to live in is you have to live in Calgary.

I’d rather live in Calgary than abbotsford, that’s for sure.
Calgary is actually sweet as far as proximity to mountains, good food, music scene, and cheap.
I’d just be smoking meth and going to cactus club in Abby.

40 miles/50 minutes away is considered far enough you'd rather just live in another time zone?

:fulloffuck:

YYC being a westjet hub is handy but i'd prefer to be one stop away from quite a few more big destinations in the Pacific...assuming i'm still healthy enough to travel at that age

If I lived in abbotsford I would literally never set foot DT. Lol 40 minutes. Maybe at 3am

Nothing wrong with living in Abbotsford or Calgary if you want a garage and room for your cars and toys.

If you're into cars, there's no point living in Vancouver proper anyway because of the traffic and pedestrians.

LOL shit if that ain't the truth.

There is also like the best car scene in Canada here. Meets every weekend of the best and most eclectic mix of cars in the country

What's even in Abby?

we're talking about downsizing as retirees
how often do you need to go to downtown, go to car meets, eat at the newest place buzzing on insta, care about music scene etc. when you're 65?
being close to your family will likely be the #1 priority
at that stage of life i'd rather be in a burbs in the vicinity of Vancouver than to live in Calgary and worry about snow removal

been out of the van for a few years, how's the market for a detached house in surrey? Van still seems super expensive, any other areas that's still "affordable" for a family?

I guess it all depend which part of surrey you want. I’d say south surrey (probably more expensive) and the fleetwood tynehead are the best areas imo. Took a quick glance around fleetwood tynehead and appears to be close to 875k-950k for about 1500-1900sqft of living space (3b 3b) and goes up to 1million plus as the home size gets bigger. It’s just a rough example after a quick peek..i mean looking at the 875-950k ones i mentioned..i still cant believe the asking for them are that much hahaha it’s nuts if you ask me

I don't see why travelling around the pacific is reasonable but going to shows and eating the best food is far fetched.
If I can't do my favourite things when I retire, what's the point? It all depends on your interests. Theres also no guarantee any of our families will be here. I'm sure if I have kids they aren't going to be able to afford to live here at the rate its going.

true maybe calgary will work better for you...or maybe your taste will change

i just don't think i'll care about the latest ramen shop trending on daily hive, care to spend hours detailing my car nor care about which underground artist will be playing at fortune when i'm done with a day job...i wanna spend more time playing with grandkids, traveling, volunteering, and doing modest outdoor activities and for all that i don't need to worry much about commute time into the city

My uncle drove by fleetwood and around 164... saw a house with a sold sign..contacted the realtor just to see how much it sold for and he said it sold for 1,100,80 (listed for 1.060) with assessed value of 967k (5b 3 bath). I guess homes still go over asking and over assessed lol.

Fleetwood, Fraser height, etc very little if any drop in pricing from what I’ve seen

My parents live in Fleetwood and they haven't seen a drop in prices yet.

Is this website accurate?

It tracks all of the price changes and shows it in a map that you can zoom in/out, with the majority of them being price drops, obviously

https://www.myrealtycheck.ca/

It shows, for example, 615 total price changes in Surrey for January 2019