How much did you pay for your first house?

[crazyperch]

2009 1540ft/sq in sherwood park for $341,000
Currently for sale for $394,900

[TROLLER]

Bought a 2 yr. old bi-level in Lethbridge in 73 for 19K Moved to Calgary in 74 and bought half duplex for 28K.


Now live on small acreage that I built in 2001 and could never afford today. Timing is every thing.

[Jayhad]

Originally Posted by raab

Be nice if the government made buying a house affordable for Canadians

yes all we need is more government and them getting involved with a pillar of capitalism.
Socialist much?

[Scott N]

$63,000 for a 1005 sq ft 3 bedroom townhouse / condo in 1994.

[hockeynut]

2007 - 1050 sq ft bi-level
$271k

[guster]

1978 1500sq.ft. bi-level $39,000 Turner Valley
Still here.

[bessiedog]

1200 foot
No garage

4 kids
Wife
Dog

100k

[stubby99ca]

$24000 in 1994 for lot and a 1976 mobile home. Fairview, Alberta

First stick built home
$129000 in 1998 for a 960sq ft 46 year house in Fort St John, BC

[jungleboy]

Originally Posted by raab

And I think we've found out why people are living with their parents until they're 35... Be nice if the government made buying a house affordable for Canadians again instead of giving foreign buyers the 30% discount they've been getting over the last two years.

About 1985 I bought my first place , an acreage with an old mobile home on it for 30,000 .At that time I was working hard for for $11.00 hr with a wife and kid and one on the way..It's all relevant. I think kids are at home till they are 35 because they won't take second best and work their way up. Much easier and less stressful to live on mom and dads dime.
We sold it within 2 yrs and oddly enough we bought that acreage back from the same person we sold it to almost 30 yrs later .

[raab]

Originally Posted by Jayhad

yes all we need is more government and them getting involved with a pillar of capitalism.
Socialist much?

Where did I say more government? They should be raising interest rates, our dollar is going to go to 60 cents if they don't start doing something. Americans are getting a 30% discount while Canadian youth are paying higher and higher price due to their reluctance to raise interest rates because of irresponsible people taking out loans for things they can't afford.

[raab]

Originally Posted by JonBoy

They'd keep prices down if they tightened the rules up to match what people can truly afford. People are spending (in many cases) 50% of their take-home income on their house. That's insane. No wonder they don't usually have savings...

The government (in BC, specifically) is SUPPORTING high house prices by helping first time buyers with interest-free down payments rather than addressing the issue (inflated market due to low rates and lax lending rules). They're also benefiting hugely from inflated property taxes, so they're "better off" with high house values...

Nothing wrong with the lending rules, if anything they're to restrictive. Problem is with the BOC having the land values go down for everyone outside of Canada, and not helping responsible young Canadians be able to buy a house. Raise interest rates, bring housing down to where it should be given current Canadian salaries, and watch our economy grow. It might be a hard year or two but long term its the only way to fix the mess that the government created.

[coastalhunter]

Originally Posted by JonBoy

They'd keep prices down if they tightened the rules up to match what people can truly afford. People are spending (in many cases) 50% of their take-home income on their house. That's insane. No wonder they don't usually have savings...

The government (in BC, specifically) is SUPPORTING high house prices by helping first time buyers with interest-free down payments rather than addressing the issue (inflated market due to low rates and lax lending rules). They're also benefiting hugely from inflated property taxes, so they're "better off" with high house values...

Recently had a meeting with a mortgage broker and asked about that and he said all said and done your only ahead by $700.00......

[Foxton Gundogs]

1974 Surrey B.C. 3 bedroom 1 bath on 5 acres with 2 barns, shop, hay shed. $25,200

[gitrdun]

Originally Posted by Amateur Hunter

I bought my first house in Red Deer in 1997 for $ 129,000 ( lot included)
Single detached, new, no garage, Lancaster subdivision
Lot was $21,000.

Back in 1975 my wife and I weren't married yet, we were engaged to be married in 1976. We bought our first house in West Hillhurst (Calgary). It was a war time house that had been renovated. Bought it for $45K. Since then, we've bought and sold some. In 1988 we moved into the town of High River. In 1997, we bought our 5 acres with our home for $203K. I built a 40x40 shop on it for about $20K. It is now valued at around $700K. However, most visitors tell me that I have a $1,000,000 view of the mountains. We are so happy here that I cannot see myself living in town or the city. I remember in the first few years that we lived here that I didn't go to town for at least a month, yet we are only 12km from High River, a beautiful town indeed. I now have 4 dogs buried here in their own special plot, so I can't leave either. What makes our location even that much more desirable for us is that we are very good friends with all of our neighbours. Truly, a little piece of heaven here on earth.

[Weedy1]

Half of Canadians just $200 from insolvency:

http://www.whichmortgage.ca/article/...cy-225332.aspx

[raab]

Originally Posted by jungleboy

About 1985 I bought my first place , an acreage with an old mobile home on it for 30,000 .At that time I was working hard for for $11.00 hr with a wife and kid and one on the way..It's all relevant. I think kids are at home till they are 35 because they won't take second best and work their way up. Much easier and less stressful to live on mom and dads dime.
We sold it within 2 yrs and oddly enough we bought that acreage back from the same person we sold it to almost 30 yrs later .

Add up what it actually cost you for your first home then look at inflation and taxes. So at 11 bucks an hour you made 24,000 a year. You also paid no GST, PST, or Carbon Tax. It took you less then a year and a half's wages before taxes to pay that house off. Compare that to today where your looking at 4 to 6 times your gross annual earnings to buy a house, and your paying higher taxes on everything.

[Dean2]

I already posted the cost of our
first house in 1982. If anyone had told me that less than 30 years later I would be paying a million dollars for a relativley normal house in Toronto I would have told them they were completely full of cjit. Turns out I would have been massively wrong and those high prices are spreading through out Canada. As someone else said is is easy to see why kids today can't even dream of buying there own place unless it has a revenue suite in it to help out.

[bb356]

Originally Posted by gitrdun

Back in 1975 my wife and I weren't married yet, we were engaged to be married in 1976. We bought our first house in West Hillhurst (Calgary). It was a war time house that had been renovated. Bought it for $45K. Since then, we've bought and sold some. In 1988 we moved into the town of High River. In 1997, we bought our 5 acres with our home for $203K. I built a 40x40 shop on it for about $20K. It is now valued at around $700K. However, most visitors tell me that I have a $1,000,000 view of the mountains. We are so happy here that I cannot see myself living in town or the city. I remember in the first few years that we lived here that I didn't go to town for at least a month, yet we are only 12km from High River, a beautiful town indeed. I now have 4 dogs buried here in their own special plot, so I can't leave either. What makes our location even that much more desirable for us is that we are very good friends with all of our neighbours. Truly, a little piece of heaven here on earth.

Cool !!!

[bb356]

30 thousand ... cheap rent .

[Coyotebutcher]

2013, built a 1750 sqft two story with attached garage in Fort sask. Backs onto a park. Granite, tile, etc. Unfinished basement, just rough grade yard. Only the rear chain link fence. Paid $430k.

[Coyotebutcher]

I'm pretty sure currently we pay about $12k to interest and $14k againt the principle. Household income over $200k so we can't really complain. Just hope my boy gets to play all the sports he can handle and does well in school. Money is just a man made thing to control the 99%

[ALBTUFF]

Bought our first house in 2015. 1 acre with a 1450 sq ft mobile home, double garage, 2 sheds and a chicken coop. Paid $185,000.00. Best move I have ever made. Out of Edmonton to a beautiful place in the country.

[kinwahkly]

Paid $135,000 In 1992. 4 level BI level. Nice home. Kept it 6 years and sold it for $178,000.

[martinbns]

$125,000 for a Semi-detached in Ottawa, 1400 sq ft

[Grizzly Adams]

Originally Posted by Dean2

I already posted the cost of our
first house in 1982. If anyone had told me that less than 30 years later I would be paying a million dollars for a relativley normal house in Toronto I would have told them they were completely full of cjit. Turns out I would have been massively wrong and those high prices are spreading through out Canada. As someone else said is is easy to see why kids today can't even dream of buying there own place unless it has a revenue suite in it to help out.

Importing people to "build our economy" is only going to feed demand and keep prices rising.


Grizz

[Ken07AOVette]

1987 half acre in PV with a mobile home for $9000. Another $1500 paid for a 16x28 garage including moving from Lloydminster.
Built a 2800 sq ft house on the same lot in 2001 after selling the mobile home and garage for $6500.00.
Built a 40x50x12 garage in 2006 on the adjoining lot I bought in 2005.
Bought and sold 3 others since.
Still here on the same original spot.

[MOUNTAIN MICKEY]

1974 1140 sq ft. $27,769.00 and $1.00 for a fully serviced lot. Didn't know what they were building for a house but the lot was in an excellent location. O ya. The down payment was $903.00 Payment were $147.00/month. Jacked them up after 3 years and had it payed off in just under 12 yrs. I have paid almost 3 times that in property taxes so far. Had a bit of heat and smoke damage in 2005 so the insurance company did a $330,000. renovation for me. Thinking I might just stay here.

[farmer23]

I bought my first house in Camrose in 1999. 1250 ft² house by the Co-op grocery store for $83,500. I wish I had bought about 3 at that time, just before the housing market really jumped.

[flyguyd]

First and only one for $41000 in Fort macleod in 1994. 1600 + sq ft

[woods_walker]

2009 bought a house for $275,000 in Athabasca. The prices really climbed the couple of years prior to this purchase. Every month we saved money it seemed like the housing prices kept increasing and rents were increasing. Actual rent on apartments in the area were the same price as the mortgage we ended up with after our down payment.