Jump to content
Chapala.com Webboard
Sign in to follow this  
lakeside7

USD and CDN house purchaser's

Recommended Posts

I guess my question is aimed at would be CDN house buyers. Given the 20/25% differential between the USD and CDN dollar, are you waiting on the side lines for the CDN to strengthen. Or are you perhaps one the  lucky ones who sold a home in Vancouver or Toronto for a million or more and laughing all the way to the bank, and will buy at Lakeside regardless?

From all the stories I am hearing the market this season at Lakeside is "hot" for both selling and renting..but who is buying?

Share this post


Link to post
Share on other sites

I am a Canadian home buyer and weighed your question for days this summer, I am the very end of the baby boomers in age and for most of my life I watched prices of property increase just a few years before I could afford the property, for example when I was in my late 20's a lake property might sell for 20 thousand, by the time I could afford the property in my mid to late 30's it was much higher and it has continued to rise. I attribute much of the increase to demographics, there is a large bubble of people ahead of me. As gringal states there  is about 10000 people a day retiring and by the way that is just the American population so add Canadians and many others.

We have chosen to purchase and hope to rent the property out until we retire, the up side is that we might be able to offset the initial cost with rental income and possibly the prices will go up as time goes on. If there is a big increase we are in the game and wont be priced out. On the other side there is risk that prices drop or civil unrest cause big problems.

I guess I willing to take the risk.

And sadly I am not in Vancouver or Toronto.

 

 

  • Like 1

Share this post


Link to post
Share on other sites

If it makes anyone feel any better, we bought our first house in Mexico in March of 1997. The Canadian dollar was worth 65 cents to the American dollar. 

The dollar goes up and the dollar goes down... but the sun always shines here.

  • Like 1

Share this post


Link to post
Share on other sites

Depends on your needs and what turns your crank. Big  costs more and takes more effort to be cleaned and maintained. A view will cost more and can be obstructed in the blink of an eye.

Use your head not your heart. Best of luck.

  • Like 2
  • Haha 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×
  • Create New...