Questions for Canadians

dragon1952
dragon1952 Posts: 4,907
edited February 2024 in Clubhouse Archives
Hey hosers!
My wife and I are thinking about a Canadian retirement. Can someone explain how the mortgages work up there?
I see stuff like 10 yr closed and 25 yr closed...what do they mean? Don't they have 30yr mortgages? What are property taxes like, etc, etc.
Thanks! :D
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    Make sure you understand the implications of the Health Care ?! industry up north before you move ...
    Rick
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  • Shizelbs
    Shizelbs Posts: 7,433
    edited July 2004
    Yeah, make you, you know, live by the border eh. Just in case, like, you wanna see the doctor.
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    Like it can be any worse than here as far as health care :p
    Here it's like 'sorry....you're on your own buddy!'
    Or, 'Ooops....we were supposed to remove the mole.....not the whole arm!?!'
    Or...'Now where did I leave the scalpel...Oh well , well get it next time we open him up' :rolleyes:
    Or...'Dammit...where's my bottle of Gin...you KNOW I can't operate without a drink first!'
    Or...'That'll be $937 for your 30 day supply of medicine'

    Give me a frickin' break :rolleyes:

    Besides...this will make up for any deficiency. Show me where you can something at this price in the good ole U.S. of Bush!
    http://bc4sale.ca/tour/b2620/

    Also besides....My retirement dollar is worth $1.32C up there.
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  • dcarlson
    dcarlson Posts: 1,740
    edited July 2004
    The only thing I would question is how a U.S. citizen would actually get coverage. Our health care system is still pretty damn good.

    If you like the great outdoors, give her. I live in Northern Ontario and highly value nature and what it has to offer. Not only the beauty but also the experience it brings along with it. B.C. on a lake is a place I would love to settle to for retirement. :D
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  • dorokusai
    dorokusai Posts: 25,577
    edited July 2004
    DCarlson likes to listen to his stereo, naked wrapped in a bear hide...that's what I hear on the grapevine that is...those Canadians are a strange lot.
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
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  • dcarlson
    dcarlson Posts: 1,740
    edited July 2004
    Originally posted by dorokusai
    DCarlson likes to listen to his stereo, naked wrapped in a bear hide...that's what I hear on the grapevine that is...those Canadians are a strange lot.
    :D:D
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    Originally posted by dragon1952
    Besides...this will make up for any deficiency. Show me where you can something at this price in the good ole U.S. of Bush!
    http://bc4sale.ca/tour/b2620/
    I know, real estate prices have just become unbelievable in the last 3+ years :rolleyes:
    Originally posted by dcarlson
    If you like the great outdoors, give her. I live in Northern Ontario and highly value nature and what it has to offer. Not only the beauty but also the experience it brings along with it. B.C. on a lake is a place I would love to settle to for retirement. :D
    Agreed ... I've vacationed several times in B.C. & Alberta ... spectacular scenery. (Glacier / Waterton), Banff, Lake Louise, Jasper, YoHo, Jasper etc.
    Rick
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    DCarlson likes to listen to his stereo, naked wrapped in a bear hide...that's what I hear on the grapevine that is...those Canadians are a strange lot.

    LOL!!! I'm not quite that adventurous! :D
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    I know, real estate prices have just become unbelievable in the last 3+ years

    I hear ya! Which is good and bad. Good if you own a home, bad if you don't!
    I should be able to take my equity and buy a place outright up there :cool:
    If I need major medical care I'm still covered down here and I can get prescriptions over the internet. I never get sick anyway....now my wife's another story :rolleyes:
    She doesn't really get sick....just seems to have every allergy and minor ailment in the world.

    BTW, the price for the house in that link is in Canadian I believe!
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    I was being sarcastic :rolleyes: about real estate prices in the last few years ...

    If your old enough to be nearing retirement age I think you'd agree that prices the last few years have risen more closely to the average percentage then way on the high side of what they've done in some other years over the last 20-30.
    Rick
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    Not out here bud.....your comment was correct.....10-20% per year easy! :D
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    Yes ... here too ... but do you remember the years following Carter's high interest rates where for 2 or 3 years 30% was closer to reality.
    Rick
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    Here's a quote:
    "San Diego is again the nation's second-most expensive place to buy a house. But the average there, up from $410,900 to $472,600, is rapidly approaching that of its sister city in Northern California. That's a gain of more than $71,000 in just 12 months, folks."
    I'll take that any day! :p
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    Yep ... I hate to give up that kind of appreciation before I'm really ready to at which point I'd like to have a summer home in northern Montana or soutern Alberta and a winter home in Arizona.
    Rick
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  • brettw22
    brettw22 Posts: 7,623
    edited July 2004
    Originally posted by PolkWannabie
    Yep ... I hate to give up that kind of appreciation before I'm really ready to at which point I'd like to have a summer home in northern Montana or soutern Alberta and a winter home in Arizona.
    As long as you're not on the decrepit way of things in terms of driving abilities, snowbirds are welcome :D

    Just stay away from Sun City....those senior citizens are bonin each other on the golf courses out there at night.....
    comment comment comment comment. bitchy.
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    LOL ... I still like my cars with capabilities of 0-60 in the close to 4 second range ... and the places in AZ I've been to a steering wheel isn't needed most of the time so top end is a good thing too ...
    Rick
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    There's some nice twisties coming in to Tuscon from the east on I-10. ;)

    We've also talked about having 2 places...one in the US and one in Canada. Probably not CA though.....too expensive. My wife's from Missouri/Arkansas and it's cheap there but I couldn't take it for more than a few months a year.....too many freakin' bugs! But British Columbia looks just awesome to me. I just don't see how you could beat it.
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  • brettw22
    brettw22 Posts: 7,623
    edited July 2004
    If you're driving the freeways out here, just be prepared to be hit. I know this can be said of anywhere, but the drivers out here are frightening. I have 4 corners of my car scratched because of other people. 2 of them my car was parked and I came out to see it had been rubbed up against......fu#kers....lol
    comment comment comment comment. bitchy.
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  • dcarlson
    dcarlson Posts: 1,740
    edited July 2004
    Just be carefull of the moose.
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  • dcarlson
    dcarlson Posts: 1,740
    edited July 2004
    Yikes.
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    Damn! I don't see how anyone could have survived that!
    I think about the worst you'd have to worry about in AZ is iguanas! :)
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  • dcarlson
    dcarlson Posts: 1,740
    edited July 2004
    I received these pics in an email and it said the lucky woman only had a broken wrist and needed a good bath.
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  • brettw22
    brettw22 Posts: 7,623
    edited July 2004
    Originally posted by dragon1952
    I think about the worst you'd have to worry about in AZ is iguanas! :)
    Nope......non-licensed illegals and seniors........it's BRUTAL out here.....lol
    comment comment comment comment. bitchy.
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  • danger boy
    danger boy Posts: 15,722
    edited July 2004
    i hit a deer on sat coming back from Reno. i was pissing nails aftewards. ticked me off so bad. now i have to get the car fixed.

    hit on the right front bumper. blew out the headlight. and bent the hood, and right front panel. passengers side front door won't open anymore. damn four legged creatures, stay off the freakin' road.
    PolkFest 2012, who's going>?
    Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
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  • brettw22
    brettw22 Posts: 7,623
    edited July 2004
    I killed one of those lil **** with my camaro danger......did you at least kill the **** for damaging your car?
    comment comment comment comment. bitchy.
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  • north51
    north51 Posts: 66
    edited July 2004
    Dragon,

    I can't really answer the housing costs in BC, as I live on the East Coast of Canada. If the mortgage says ten year closed, that means that you are locked in at that interest rate for 10 years, even though the mortgage may be longer (usually 20 or 25 years, not 30 here). With the property tax, it depends on what size city you live in (or if it's a rural area) . I live in a city of 350,000 people, and my property tax is about 1.25% of the assessed value of my house. If you move to Vancouver, expect house prices of $300,000+.
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  • dragon1952
    dragon1952 Posts: 4,907
    edited July 2004
    Thanks bud!
    That's $300,000 Canadian, right?
    And what's the advantage/disadvantage of locking in for only 5 or 10 years? Sounds like a crapshoot to me :confused:
    Do interest rates fluctuate much? How about appreciation/depreciation? I know it probably differs from Province to Province. And what has the history been like lately with the exchange rate? Sorry for all the questions!
    Thanks again! dragon :cool:
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  • danger boy
    danger boy Posts: 15,722
    edited July 2004
    Originally posted by brettw22
    I killed one of those lil **** with my camaro danger......did you at least kill the **** for damaging your car?


    he took it in the hind end pretty good. i'm sure he's not running in front of any more cars.

    :eek:

    thing is.... 5 miles down the road.. there was another one.. then i saw two more just standing by the side of the road. they are everywhere!!
    PolkFest 2012, who's going>?
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  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited July 2004
    Adjustable rate mortages are of course a double edged sword and these days rates world wide more or less move together so if you have a feel for US interest rates than the same movements could be expected in Canada.

    As far as the history of exchange rates go ... see the attached chart ... As you can see the US Dollar has been dropping against most major currencies for some time.
    cdn.jpg 58.3K
    Rick
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  • Willow
    Willow Posts: 11,057
    edited July 2004
    First Off we have deer or moose running on a treadmill to power our igloos

    HHMMM maybe Dr spec could help ?? how would the snow affect the sound of the SUB ?? where do we place a sub in a round room covered in big cubes of snow ??


    My wife and I signed our mortgage rate at 4.29% for 5yrs !!
    our health care we just walk into a hospital or clinic show our little card and see the Dr. no fees involved well until now with the health premiums......(this is in Ontario)
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