bbqfish

maybe just get one car first until u pay off the mortage. bussing to work isn't too bad. and u save tax by bussing.

yungfourfour

原帖由 celeron_266 於 2008-5-24 14:11 發表
LOK:

i have made modifications on the mortgage at the thread just above you

yungfourfour:

1.  thats why i said each person have to earn about 100k after tax to support themselves

2.  done modifyin ...

if you consider a $400K town house, chances are you can rent your basement for $700 a month at least??
apartment jau ng duc, on top they have condo fees.
In HK every 10 years all apartment owners are forced to pay the "building mainteinance fee" to repair the building, and that's not cheap at all as my mom told me...... i hope that's not the case in vancouver.
say you are currently at $50K, but a company will give you 3% cost of living and you'd get another 3% for step raise
so I'd guess you and your partner would ease up a bit after a few years, esp. car loan only goes 5 years max

If I were you, I'd save up for few more years first (mortgage interest rate is going down but I think it could go further)

[ 本帖最後由 yungfourfour 於 2008-5-24 16:02 編輯 ]

kaimui22

原帖由 yungfourfour 於 2008/5/24 03:59 PM 發表


if you consider a $400K town house, chances are you can rent your basement for $700 a month at least??
apartment jau ng duc, on top they have condo fees.
In HK every 10 years all apartment owners ar ...

condo fees in vancouver are NOT CHEAP at all (compared to HK)
an average apartment's maintenance fee will be anywhere from $200 - $500/month
I'm currently paying $240 for a condo in Richmond and in yaletown, I'm paying $450
the larger your apartment, the more it costs...i think some apartments in my building are paying $600/month

AND there are always additional costs....if you have a crappy management company for your apartment, they will ALWAYS ask you for more money. And this is not every 10 years...this is like several times a year. The management company for my Yaletown condo asks us every 3 or 4 months for about $1000 - $2000 for additional maintenance fees. Suddenly they want to paint the hallways again, suddenly they want to hire a guard for $80 000 a year, suddenly they want to "upgrade" our garbage room...etc etc etc. Yes, they do the work but they overcharge us owners.

So in addition to regular expenses, you should add a column to "Additional apartment expenses"..which might be around $3000 a year NOT including maintenance fees.

Our apartment had to do a "membrane upgrade" and one of the suites had to pay $9000 within 2 months....it's ridiculous but it's true. Even the cheaper apartment in Richmond required each suite to pay $4000 for an "upgrade" to the outside wall.

Catpiano

5 yr to pay off mortgage??  most mortgage nowaday is 30 yr ..  

Good luck man ..  250K principle ??  so that is assuming you have $500K as downpayment??  ( average house price in Van is $700K plus )

Your math doesn't work ..  my friend ..  

It sounds about right to me, $100K per yr is about right for some basic expense per year nowaday .. . and yes, that is ~$160K income before tax .. which sound about right too ..   of course, lots of couple make more that that amount nowaday as well ..

[ 本帖最後由 Catpiano 於 2008-5-24 18:54 編輯 ]

katamari

people are so rich in LYK, I saw on newspaper the average family income is not even close to 100K wor.....

celeron_266

原帖由 Catpiano 於 2008-5-24 18:37 發表
5 yr to pay off mortgage??  most mortgage nowaday is 30 yr ..  

Good luck man ..  250K principle ??  so that is assuming you have $500K as downpayment??  ( average house price in Van is $700K plus )  ...

i know house is expensive...thats why i said i prefer apartments...and i also changed the mortgage to 400k for 15 years...the annual cost is 18k less than my initial estimate...but IMO this decrease is not very significant

if i stretch the mortgage to 30 years...sure i have less monthly payments...but the thought of paying that much interest just doesnt attract me at all....i rather work hard and pay it off asap

also...thinking that i have 4 more years of schooling to do (i am doing a professional degree)...meaning that when i start working i will be a few years before 30....a mortgage for 30 years means that i wont be able to pay off my house until when i am almost 60....which just sounds too crazy to my liking....

Hyde

原帖由 yungfourfour 於 2008-5-24 14:01 發表
2.  $500 a month for a car mortgage (excluding insurance) is a lot! you're doing zero down?

how is $500 a month for a car is alot? at best you can only lease a camry or accord.

Hyde

i really wonder how ppl can survive in Vancouver with their little salary and high tax

go earn your money else where, then come back to live in van when you have money

fibbi

gas: $300 per car per month is A LOT! My office and home is 15km each way and I fill up surpreme and it's $200 most per month. If you fill up regular it costs less. I think $150-$200 a month is better guess.

to parents: $1000/month each side?? I think it's really A LOT...

food: for a couple...I try to keep $50/week budget for grocery. So that's $200/month + dine out $100/week which total food expense $600/month. But if you need to save, don't even eat out! or just eat out twice a month!

other expense sounds reasonable (except housing part I'm not too sure) but need to budget some $ for property tax, maintainance fee (house or apartment) as well.

Catpiano

~ $300 a month for gas is minium for average driver la      say doing  ~2,000 -2,500km a month ..  average 12L/100km to drive around town  .. so need 250L-300L gas a month and $1.4 / L  .. will be like $400 a month ..   and that is just average driving .. for those who drive big SUV .. and put 5,000 km a month ..  can easy to spend more then $1K a month on gas ..