Thank you for debunking this myth! My husband and I are in our early 40s, no kids, and living in Vancouver. Buying even the most modest of homes/condos is astronomical (!) but so many people still have the mindset that we’re throwing money away on rent. So from time to time the notion of buying still creeps into my head. Your videos do an excellent job of reminding me that indeed, renting is best for us! Thank you!! 😊❤️
@ThisIsOurRetirement
3 жыл бұрын
That is awesome! we love renting have a great weekend Cheers 🌺🍷🙂
@rogerwalker1266
2 жыл бұрын
I still believe buying a house is the best investment for any family. Everyone always needs a place to live. If the price goes up, you sell, the capital you get will buy an equivalent property. If the price goes down, same thing. It’s security buying a house and a good investment. Difficult for first time buyers to begin in the market, but in the long run a very sound investment.
@sammencia7945
Жыл бұрын
Hongcouver houses are bank accounts for CCP members laundering money.
@sandradawe9224
2 жыл бұрын
After decades in our home we are now in an apartment renting. It suits us much better as my spouse has health issues. There is always something falling apart, needing to be fixed or replaced in a house, including the roof etc. so we don't miss that whatsoever. We have even given up our vehicle to save money, We have great public transit very close, and we rent a car when needed for getaways. We love to garden and have beautiful flowers and even tomatoes on our balcony. Looking forward to a bit of travel after the pandemic for sure.
@ThisIsOurRetirement
2 жыл бұрын
That’s awesome we are so glad you are enjoying your apartment Sandra we love ours and yes hopefully 2022 will be goodbye 👋 to Covid and we can all start travelling again Cheers 🍷🌺🍺
@mikedennington8856
3 жыл бұрын
I was in BC and paied $1200 a month for three years thats $43,200 over 3 years. I bought a house in Nova Scotia for $120,000 cash. I get appreciation of capital, prices are up 20%, no rent, no aweful neighbours, no bad landlords. So there are swings and roundabouts to buy and rent.
@ThisIsOurRetirement
3 жыл бұрын
We agree, but there is a cost of moving 10% of the house value, all the Home Depot / Canadian Tire visits, property tax, replacement items p, garage doors, windows roof, etc but hey if you wish to leave your capital at risk for unexpected expenses that’s OK.
@MrWaterbugdesign
3 жыл бұрын
Yeah, these "renting is smart" videos always ignore appreciation. I've been in my current house 15 years, paid $0 rent, $125/mo property tax and $250k appreciation. So my net is about a $610k profit (assuming compound interest at 4%) vs losing $360k paying rent ($1500/mo for 15 years and losing 4% on that money). The difference is almost a million dollars.
@kjmorley
3 жыл бұрын
@@ThisIsOurRetirement My garage doors are still good thankfully, but here are a few of my expenses over the last 5 years: Hot water tank: $1200; appliance replacements: $4,000; roof: $17,000; fence repairs: $3,000; concrete repair: $4,000; flooring replace: $9,600; tree trimming: $1000+ every few years... the list goes on... :-)
@david-lt9wj
3 жыл бұрын
@@kjmorley depends how big your house is......big house big bills...
@kjmorley
3 жыл бұрын
david True. Also, old house, big bills.
@JackdawWatcher
3 жыл бұрын
Just found your channel and now I’m binge watching all your videos! It’s great to see advice from people who are retired and enjoying their life like you two, keep it up! ❤️
@ThisIsOurRetirement
3 жыл бұрын
Thanks for watching! so glad you enjoyed it have a great week Cheers 🍷🐣🍺🌺
@PlanetImo
3 жыл бұрын
Always good to see you both keeping well and productive during this time. x
@ThisIsOurRetirement
3 жыл бұрын
Thanks we always appreciate you dropping by and it’s great to connect with things we are all going through have a wonderful week Cheers 🍷👍🍺🍁
@mojsharhappy
3 жыл бұрын
Hello, really enjoy watching your videos....just one word of caution, I dont think you can sublet for a price more than the rent you pay to the landlord and you actually need the landlord's permission to sublet!....pls check that out, before your landlord finds out!
@damienlozada8653
3 жыл бұрын
True, in Ontario you can sublet but one of the stipulations is that you can not profit. Here are the regulations to subletting. A tenant who sublets a rental unit cannot: Charge a higher rent than the landlord does for the rental unit Collect any additional fees for subletting the rental unit, or Charge the sub-tenant for additional goods or services.
@sussumunakamura8474
2 жыл бұрын
Very good points, thank you for breaking this paradigm. I love the flexibility it proportionate. I am loving your videos!
@ThisIsOurRetirement
2 жыл бұрын
You are so welcome! Sussumu have a wonderful weekend Cheers 🍷🌺🍺
@JMichael2x2
Жыл бұрын
Also that might be a particularly good strategy if the climate where you live is a bit severe in winter; however, we like to garden - one key hobby in retirement, and the climate where we live you can garden all year round if you want. But certainly I understand the advantages in renting, owning a home is not always the most cost effective plan
@ThisIsOurRetirement
Жыл бұрын
Thanks for sharing have a great day Cheers 🍷🌺🍺
@RVOnTheWayside
3 жыл бұрын
I was told that since I was little, and one day I put the dollars to the test on paper, and it was a lie. A huge lie. Anyone can write down everything they spent on their home vs rent and utilities and see if that difference is worth have renting instead. We made more money putting the difference away and retiring early by getting rid of our home. We saved so much doing this, that I was able to retire 2 years earlier and we only rented for 2.5 years. If I had to do it all over again, we would have never bought a home until we were ready to settle down permanently and could have easily retired around 40. The money you make from selling your home, will not likely ever come close to what you can make if you put away the difference (total home costs vs renting) into your vanguard index funds and let them ride. I lost so much money over the years not figuring this out sooner. Why are we not teaching our kids in school the truth? Great work sharing this with others and we don't all have to get the breaks like you guys have had with where you live specifically. Even without the breaks and deals you guys have, this all still works. The bank interest, the home repairs, the taxes, the time you spend working on your home, the higher utilities, and all the other expenses you give to others instead of just paying yourself and making money on "your money" without them. Why do people let everyone else get a stake in your claim? It is because people aren't sharing things like this. Loved your video. ❤️👍👏 Donovan & Jodi
@ThisIsOurRetirement
3 жыл бұрын
Hi Donavon and Jodi what a great comment thank you for sharing , we often wonder why they don’t teach finances in school , about saving or what options there are in buying a house or renting and saving the difference and other ways of getting passive income . What we are finding is that that there is a huge fear of retiring and we are hoping that sharing our stories will help others realize that to not be afraid and just do it ! Life can be short and we don’t know what is around the corner ie Covid 😱or health issues so do it and enjoy it . We hope you are both staying safe and keeping well have an awesome week Cheers 👍🍷🍺🍁 Thanks for watching we really appreciate your support 😎
@RVOnTheWayside
3 жыл бұрын
@@ThisIsOurRetirement ❤️ ❤️ ❤️
@joanzach4859
2 жыл бұрын
Recently discovered you two. Love your videos and you give us lots to think about but most of us in the US do not have access to rent controlled properties.
@ThisIsOurRetirement
2 жыл бұрын
Yes rent control is awesome, very few U.S. states or cities have it.
@ItsAboutTimeNow
3 жыл бұрын
You two really know how to put out this information in such a clear manner. We completely understand cleaning out our parents home and selling it. ~ Diana
@ThisIsOurRetirement
3 жыл бұрын
TFW glad you find it helpful sorting out parents property can be a big problem, hope you are both staying safe and keeping well have a great wee weekend Cheers 🍷🍺😎🌞
@theoldcameraguy
3 жыл бұрын
Glad to see that renting works so well for you. Rent control certainly makes it an attractive option - Have a great weekend
@ThisIsOurRetirement
3 жыл бұрын
TFW we are loving renting and yes rent control is a great factor , stay safe and enjoy your weekend Cheers 👍🍷🍺🍁
@lastempire7302
2 жыл бұрын
Great wisdom! Liquidity is key! I wish my in-laws can wrap their heads around this concept. There is no fun being a "paper millionaire" and living under poverty line feeding solely on wellfares.
@ThisIsOurRetirement
2 жыл бұрын
We agree but retirement does bring worries that we find difficult to handle.
@altenberg-greifenstein
2 жыл бұрын
Abusing the welfare system, I see
@SharonSaylor-h4q
4 ай бұрын
I am a landlord and I’ve had tenants rent from me for 8 years and I never raised rent. A good tenant is hard to find and well worth it.
@ThisIsOurRetirement
4 ай бұрын
That’s wonderful 🙂
@sammencia7945
Жыл бұрын
Renting means no maintenance repairs or lawncare. Renting means you can move after a year without having to pay closing costs each year.
@susanmartin4092
Жыл бұрын
You are right if you have rent control Most people don't Buying for me was an incredible bonus I have very little over head now and everyone pays me
@ThisIsOurRetirement
Жыл бұрын
Thanks for sharing Susan Cheers 🌺🙂🍷
@tessloneill7978
8 ай бұрын
I need to think this through. But I feel I am in a different situation. You see I bought a house in the country when I retired at 2.5 interest rate. I only pay $1000 a month. There are other cost, but I feel like this house is my hobby. I garden and landscape. I planted over a hundred daffodils in November and are waiting for them to come up. I walk in the wood near a canyon for at least 40 minutes every morning with my dog. I have never liked just going sightseeing. When I was working, I spent at least seven summers living with people aboard learning their language. I was an elementary teacher, so learning an additional language was helpful when communicating with parents. I think renting is for those that have cared for the house for long that it has become a chore that they want to break free of.
@quartytypo
3 жыл бұрын
I'm with ya'll all the way. I'm retired and lease my cars.
@ThisIsOurRetirement
3 жыл бұрын
That’s great leasing works too , we actually bought a two year old car 🚗 just before the Covid restrictions kicked in really glad we did LOL 😂😂 Have a great Friday Cheers 🌺🍷🍺
@paulw1966
3 жыл бұрын
Thanks for making this video, I've seen your others and find they are interesting. I am planning to move to Canada with my family, am talking to some people about buying/ or co-investing in business. What I and my wife think of our legacy for our kids is simply suffice educations and abilities to live, survive and be good citizens wherever they chose to be.
@ThisIsOurRetirement
3 жыл бұрын
We wish you well for your move, it has been very beneficial to us a wonderful country to live in.
@lisalee3490
3 жыл бұрын
Buy insurance and spend all your money 😆
@terrygelinas4593
3 жыл бұрын
I enjoy all your videos, and am looking at my personal transition to retirement. Thanks for all the insights. I need to balance capital appreciation of the houses (crazy hot market right now) with the usual taxes/repairs/renovations, against finding a place to live in the future. I do love living in my Toronto neighbourhood - not an easy decision when you weigh all the financial and non-financial reasons. You guys help me keep an open mind to possibilities.
@ThisIsOurRetirement
3 жыл бұрын
We are sharing our story as spreading ideas, most of which you are aware of but every now and then maybe something new to think on. We are all different and have had different experiences, eventually your needs might change or you can be happy knowing you took the right decision anyway. We wish you the very best retirement and we appreciate you watching our videos. Have a nice weekend.
@jaxwylde2139
3 жыл бұрын
Some very valid points you raised in this video. My wife and I have also considered/discussed this option for our retirement. The other option is to keep the home, and rent out the basement (which has separate entrance, 2 BR's, kitchen, bathroom, etc). Our kids are using it now (while finishing university), but when they move out, this is something we may do. Of course, the rental payments will be taxable, but it'll still offset annual property tax, and help fund home improvements, repairs, etc. Ultimately, it all depends on each person's individual situation. Cheers.
@ThisIsOurRetirement
3 жыл бұрын
Yes retirement is different for us all, your plan sounds good to rent the basement out. In our case we wanted to sell our home and invest the money, also we wanted rid of all the problems and unforeseen costs of home ownership which we had for many years. The good thing is we all have options and we wish you a happy retirement. Have a great week Cheers 🍷🍺🙂
@johnballard6725
2 жыл бұрын
Keeping the house and renting out the basement makes a lot if sense.
@Laila-xb9gs
3 жыл бұрын
Y'all are so cute together! Great advice! I'm considering selling my house as it has become more of burden, w/ repairs and all, and renting.
@ThisIsOurRetirement
3 жыл бұрын
That’s what we thought, it is the unexpected costs that crop up that depletes your savings or worst still makes you borrow money for repairs, best of luck with your decision. Thanks for watching and commenting.
@milindthakur868
2 жыл бұрын
I'm from India 🇮🇳. It's nice to heard and watch your video. Your advise is great👍about renting and fianance....great bonding with each other...keep going and enjoy life...
@ThisIsOurRetirement
2 жыл бұрын
Thanks for watching have a great day 🍷 🇮🇳 🇨🇦🌻🍺
@chrish9155
2 жыл бұрын
Nice channel! You are a wise couple!
@ThisIsOurRetirement
2 жыл бұрын
Thanks Chris, that is very kind of you, have a nice weekend.
@juztnlast953
3 жыл бұрын
Unfortunately I don't have links, but even articles about money and investing profess that for the majority of people home ownership as an investment does not outperform actual investing. People often say you can have have a mortgage equal to monthly rent, but most mortgages last for 30 years, plus property taxes, plus home owner's insurance, plus maintenances and repairs to the house and property. After finally selling the home you have to subtract all those other expenses that have accumulated over 30 years against what you finally sell your home for vs. investing additional money after you pay rent into a managed retirement and or brokerage account for 30 years.
@ThisIsOurRetirement
3 жыл бұрын
You are right, most homeowners don’t get it, the only advantage to homeownership is the forced savings aspect, whereas it takes discipline to stay the course for investing. Thanks for your comment, glad you made it.
@robocop581
2 жыл бұрын
I disagree. I own five rental properties and my tenants are paying for all related costs including the mortgage on my primary residence. In five years my investments are all paid off. FYI, the bulk of regular millionaires are property owners and they built it from rental income and leverage.
@RyansuBike
2 жыл бұрын
Unfortunately in most places in the US do not have rent control and over the last two years Rents have gone way up. A big concern for thinking about retiring on a fixed income. I live on the West coast and have been looking at other places in the US where I could afford to buy so I can "control" my housing costs. I did save some $$ on rent by moving out of Seattle and if I could figure out a way to rent without having to fear big increases I would certainly favor that.
@ThisIsOurRetirement
2 жыл бұрын
Renting in the U.S. in many areas is cheaper than a mortgage on a comparable sized home, interest rates are bringing down rents.
@Autourdumonde1
3 жыл бұрын
We all thinks renting is wasting money. Thanks for that video.
@ThisIsOurRetirement
3 жыл бұрын
Thanks for watching! 🙂
@Autourdumonde1
3 жыл бұрын
@@ThisIsOurRetirement you deserve it
@kimc555
3 жыл бұрын
Interesting idea. Really depends on where you live. Here in the Lower Mainland of BC, property values are Sky high as well as rental values. BC has a cap on rental increases of 2% similar to Ontario. My parents sold their home a decade ago and bought a mobile home. There’s pad rent but it’s still less than what rent on a condo would be. If one of parents passes, the other can still afford to live there.
@ThisIsOurRetirement
3 жыл бұрын
Sounds like a good thing your parents did , we have also bought a trailer for the summer and pay a seasonal fee for it but it’s very reasonable, Cheers 🍷🍺🌸
@kimc555
3 жыл бұрын
@@ThisIsOurRetirement ya they got lucky. Housing situation in BC varies so much ... but lower mainland is crazy. The economy here in general is so out of whack.
@steveburge4321
Жыл бұрын
Another great way to explain in a simplified way.....just how renting in retirement will make you feel good about yourself and how it will be looked at in the future when it is time to leave the kids a piece of what you've worked you're lifetime to build ! Sell the house, invest, use the investment proceeds to provide extra income, the capital will be there for loved ones . I will always be there for my children even when I'm dead and gone!
@ThisIsOurRetirement
Жыл бұрын
What a wonderful way of describing just what we have done Steve have a great weekend Cheers ☕️🍁🍻
@itsastakesything
3 жыл бұрын
Another great video full of great information, Thanks for sharing it with us, we enjoyed watching 👍🥰 hope your both keeping safe & well, Take Care 👍🤩🇬🇧x
@ThisIsOurRetirement
3 жыл бұрын
Thank you so much 🤗 glad you enjoyed it hope you are all keeping well have a great week Cheers 👍🍷🍺🍁
@MrGearoid65
3 жыл бұрын
Cool. I get it now, on second time of watching!!! Makes your investment choices very important...stay safe lovely people. 💪
@ThisIsOurRetirement
3 жыл бұрын
Awesome! Thank you! have a great weekend Cheers 🍷🌺🍺
@janefromthecountry1820
3 жыл бұрын
I enjoy your channel. You both are such nice people!! Take care and catch ya on the next video. 💞
@ThisIsOurRetirement
3 жыл бұрын
Thank you so much!
@kikihowe4799
3 жыл бұрын
You must live in Ontario ? If my parents left me their house ...I would happily clean it up to sell ....I would be grateful !
@ThisIsOurRetirement
3 жыл бұрын
That’s great we did that too.
@evadeanu1
3 жыл бұрын
Appreciate your comment. Many others are thinking of the hassle to “clean” what their parents thought was their fortune... you are very respectful. Hope our kids will think the same.
@ggjr61
3 жыл бұрын
The problem in the US where we live is apartments are in high demand so rents are high and rising fast. We don’t have rent control and I have mixed feelings about that anyway.
@ThisIsOurRetirement
3 жыл бұрын
Good morning ☕️that’s a shameI guess that will happen when there is a shortage the prices go up , as we love living in ours it’s become a whole new chapter in our lives . Have a great Sunday Cheers 🍺🌞🇺🇸
@wlonsdale1
3 жыл бұрын
Rent control has never worked. If I were a section 8 landlord I wouldn’t care as much as if I were renting to stable individuals.
@mtadams2009
3 жыл бұрын
@@wlonsdale1 If you lived in a place like NYC you may feel differently. My wife left NYC to the burbs in 2007 and her rent was 5,000 a month.
@rl9808
3 жыл бұрын
I pay 6;000 a year for prop. Tax in Carlsbad ca. By the beach. That is it. Neibors renting down the street paying 30,000 yr. also I was 24, bought for 78000 sold for 270000 in 13 years.
@ThisIsOurRetirement
3 жыл бұрын
You do still have to add all your other monthly expenses as well as the taxes to compare , TFW have a great week Cheers 🍺🐣🍷🌺
@nrs6956
2 жыл бұрын
Thank you. My best wishes to you both.
@ThisIsOurRetirement
2 жыл бұрын
Thank you too!
@ShutterFanatic
3 жыл бұрын
Rent control is rare here in the states other than major cities like New York. Take that out and it makes renting less appealing. That said, being able to easily move around would be cool when not being tied down to a job.
@ThisIsOurRetirement
3 жыл бұрын
We are fortunate to have rent control, it also makes it easier if you go away just lock the door and go with no hidden expenses! It works for us and we see it as an asset as rents go up hugely to new people coming in we are Grandfathered in with very little increases. Have a great week Cheers 🍷🍺🌺
@debbielockhart7762
3 жыл бұрын
Rent control is common here in Canada. I'm from BC and it has been in place for as long as I can remember here. Ontario (the only other province I have lived/rented in) also has rent control.
@ThisIsOurRetirement
3 жыл бұрын
@@debbielockhart7762 Good morning ☕️another great reason to live in Canada 🇨🇦 have a great day 🌺🍷
@cooltunesmadeeasy
3 жыл бұрын
My buddy's Tennant sublet his condo to people and voila flooded and caused water damage so Great for you but not the owner landlord that's the part I don't like not fair really ..
@ThisIsOurRetirement
3 жыл бұрын
In Ontario you can sublet , but not good if someone floods it , In our building Tenants Insurance is mandatory so would cover that we hope . Have a wonderful weekend Cheers 🍷🐣🍺🌺
@terrysmith7441
3 жыл бұрын
it strikes me you are both fortunate to have each other, and survival costs et al., but Me I am single 70 and have been fortunate in cheap rent in a rustic cabinon beach vancouver island. But if I think if things change , it could be nigh on disastrous with the cost of living and rent at market rates, personally I think a lot of folks sitting on million dollar homes with 3000 sq feet, the national disparity in security for most canadians is apalling, a plan B My Gawd,,,,
@ThisIsOurRetirement
3 жыл бұрын
Thanks for watching we do realize we are fortunate to have each other and enjoying life we have visited briefly Vancouver Island and it was wonderful Cheers 🍺🍷🌺🙂
@marleythefrenchbulldog4237
3 жыл бұрын
You guys are so nice and wholesome! ❤️
@ThisIsOurRetirement
3 жыл бұрын
Thanks for dropping by hope you have a wonderful week Cheers 🍷👍🍺🍁
@marleythefrenchbulldog4237
3 жыл бұрын
@@ThisIsOurRetirement your too. Cheers! 🥂
@elizabethgriffith2702
2 жыл бұрын
Love your videos
@ThisIsOurRetirement
2 жыл бұрын
Thank you!
@bestirishmusic5375
3 жыл бұрын
Greetings from Ireland. Happy to know you are both enjoying life.Very interesting video and makes sense in a controlled rent increase zone .Wouldn't work too good in Ireland as rent control is certainly not that good and rented accommodation is very expensive in the Dublin area in particular. Like myself I'm sure your both missing your winter holiday to Portugal. I can't wait to get back there.Stay safe good people. 🌝☀️
@ThisIsOurRetirement
3 жыл бұрын
TFW yes we are well thank you , and we definitely will miss going to Portugal 🇵🇹 this Winter due to all the travel restrictions, but even with the Covid situation we are finding new adventures and are thrilled at getting our new trailer that will be our cottage for next summer . We did get to visit Dublin briefly on our last Transatlantic cruise and it was beautiful hope you are well have a great week Cheers 👍🍷🍺🍁🇨🇦
@bestirishmusic5375
3 жыл бұрын
@@ThisIsOurRetirement Forgot to mention there is absolutely no worthwhile interest available on savings a/cs or any investments in Ireland. In fact from next years banks and other financial services here are considering charging customers fees for having funds sitting in accounts. Hope it's a better situation in lovely Canada.🇮🇪 🇨🇦
@ThisIsOurRetirement
3 жыл бұрын
@@bestirishmusic5375 Wow that’s tough charging you to keep your money with a bank. The best we can get is 1.5% with online banks, can you hold Dividend stocks that pay Interest ? We do well there . 🙂
@bestirishmusic5375
3 жыл бұрын
@@ThisIsOurRetirement Yes,but the government tax take is so high it's hardly worth it. Were in the eurozone and all countries have very low interest rates in Europe. 0.02 % on savings a/c's and many with banks and institutions offering less for next year.Then theres DIRT tax charged on that a/m if its savings a/c and a different tax if its investment a/c. You cant win.Oh for some Portuguese sunshine and prices 😀
@ThisIsOurRetirement
3 жыл бұрын
@@bestirishmusic5375 😎🇵🇹🍷🍺
@exceptionaltalentspc4954
3 жыл бұрын
I don't agree that the mobility issue is a good reason for choosing to rent. I have sold my houses pretty quickly. One sold in less than 2 months. I guess it all depends on the housing market you're in. Lovely couple and great videos BTW !!
@ThisIsOurRetirement
3 жыл бұрын
The mobility we are talking about is being able to lock the door and go travel 🧳 (when no pandemic 😷) TFW have a great week Cheers 🍺🍷🌺
@billtr8516
3 жыл бұрын
Owning a house is like a leash , always fixing it , painting , roofs, AC plumbing heating. Rent your free to do what you want , trips vacations , , if something breaks call the landlord.
@ThisIsOurRetirement
3 жыл бұрын
Awesome comment couldn’t agree more 👍TFW and we hope you have a wonderful weekend Cheers 🍷🌺🍺
@sinansn6499
3 жыл бұрын
Very nice video thank you 👍❤️
@ThisIsOurRetirement
3 жыл бұрын
Thank you for watching enjoy your day 😉🍷🍁
@BlizzardSeeker
3 жыл бұрын
I rented for years and think renting is a big waste of money. When you look behind you for assets what do you see- not much to nothing. All you see is how you financed and filled someone else's pockets so they could vacation, etc. You find you had no real freedom to make major changes, you have nothing to sell or keep as a means to start your own stream of income. Moreover, You find you have paid in rent what you could have used to purchase or finance your own home. With your own home you still can save money for the future and have the home to sell as well, often for a profit.
@ThisIsOurRetirement
3 жыл бұрын
The reality is the money you save from unexpected costs and maintenance and property tax on buying a home, save that money in dividend stocks and you would be way ahead. Trouble is most people aren’t disciplined enough to save.
@ThisIsOurRetirement
3 жыл бұрын
We have been home owners all our life till we retired 5 years ago , we sold the house and invested the money and now enjoy renting , which also allows us to travel. Cheers 🍺🌺🍷
@BlizzardSeeker
3 жыл бұрын
@@ThisIsOurRetirement your strategy is fine, but at some early point I feel owning a home is the way to go. Then sell off and invest like you did. To rent for your entire life I think is a waste...some people do for one reason or another. Fortunately, I rented and saved, but still look behind me now and again at the money I gave someone else to put into their pockets to spend or grow as they pleased.
@ThisIsOurRetirement
3 жыл бұрын
@@BlizzardSeeker There are lots of options in life and many reports have shown that if you can save and invest while you rent you can be way ahead of home 🏡 owners 🧐Cheers 🍺🌺🍷
@BlizzardSeeker
3 жыл бұрын
@@ThisIsOurRetirement Thank you, I enjoy your videos. It's good to get other points of view.
@kellihammond4956
Жыл бұрын
Excellent information
@gerry.shafer6101
3 жыл бұрын
OUR RENT FOR SENIOR MOBILE HOME LOT IS GOING THROUGH THE ROOF IN DENVER
@ThisIsOurRetirement
3 жыл бұрын
Time to move to Canada lol, sorry to hear this, we have rent control
@TripReviews
3 жыл бұрын
Both options do have their pros and cons. Subletting, now I don’t know about that as years ago when I rented I yes could sublet my apartment however the take over tenant had to be approved by the landlord and paid the rent to them and not to me so therefore they were assuming the lease. As for Ontario rent controls, I was in an apartment for a few years and the owner went to the government and applied for an increase beyond the allowable limit and it was granted. I don’t know about interest on your deposit, at one time the landlord had to pay you the tenant, 6% interest per year. The last rental I had the landlord did not hand the interest over at will. You had to request it in writing so if you didn’t ask you didn’t get! As for us to rent it would not pay, as mortgage free and a house the same as our small little place rents for 1,800+ a month with heat & hydro on top of that plus you would have to shovel the landlords snow, cut the landlords grass and maintain the grounds. Ok, an apartment has no maintenance but I don’t like noisy neighbours, they don’t like my noise either, I don’t particularly care for the insect problems, smelling the neighbours cooking, or dealing with elevators with arms full of groceries. I’m happy it works for you guys 👍 but I’ll stay put....unless I find a nicer house with a larger lot in a different community for the same or preferably a lower price than I could sell this one for. BTW, I paid $125,000 my present house 13 years ago, today it would sell for $500,000 with the buyers lining up down the street with money in hand! Cheers, and again I am happy that your decision to rent has worked out for you. Mind you though it would be nice to turn the key and walk away and hop on a plane to the Caribbean with no worries! 😋 yes to legacy, the kids generally don’t care about your home, their former home, as they have moved on and face new realities. cheers😃🍻🇨🇦🇺🇸👍
@ThisIsOurRetirement
3 жыл бұрын
We realize that renting an appartment isn’t for everybody but it works for us. Our building is made of concrete and we don’t hear our neighbours because of the soundproofing, we tackled the grocery problem by getting a cart works great . We love the insuite laundry , underground parking and the added indoor salt water swimming pool all adds to our life which is great . Norm loves not having to cut the grass we used to have two acres !😱and shovel the snow ⛄️we had a very long drive way. We hope you are staying safe and keeping well and having a great weekend Cheers 🍷👍🍺🍁
@TripReviews
3 жыл бұрын
This Is Our Retirement 2 acres, lots to “sod” through! Yes we lived in a newer building once with a sauna, indoor pool underground parking and poured concrete walls which still did let some sound through but that you do have to expect. It was a pretty nice building with a nice 9th floor view. Even at that height we had our Xmas lights vandalized! Yep,90 or so feet in the sky and my Xmas lights disappeared one day! Turned out the kid next door had a new BB gun 🔫 and he knocked out about half my lights strung along the balcony railing‼️ Couldn’t figure that one out and I reported it to the superintendent who then checked into the matter. Your en-suite laundry wild be a bonus!
@ThisIsOurRetirement
3 жыл бұрын
@@TripReviews We are on the 8th floor overlooking a lake , we were very selective when we rented most of the residents are Retired . Enjoy your weekend Cheers 👍🍷🍺🍁
@TripReviews
3 жыл бұрын
This Is Our Retirement that would be a nice view. I did consider an apartment condo. I dont care for the high maintenance fees I have seen. The fees, taxes and utilities add up. When I see monthly maintenance fees like 400+ /month I cringe. Then I also think about board of governors or directors and I get more turned off by the thought of being told what to do. I remember a customer I had living in a golf course fronting Burlington Ont. townhouse condo where each year the residents were dictated what colour flowers they could plant in their gardens! Imagine that? This one particular year no body was allowed to plant any flowers unless they were pink or white! Nuts! As for fees...I could have my lawn cut and trimmed, gardening looked after and come winter snow removal for much less than that! And we could even have a maid service and still not hit some of these monthly condo fees. So when you calculate all your associated costs renting does make sense......plus I don’t think think you mentioned a rental bonus, the income tax write off for renting?
@ThisIsOurRetirement
3 жыл бұрын
@@TripReviews We are not in an appartment condo , just an ordinary appartment and we love it no hidden fees life is good 😍
@cherylkelly8009
3 жыл бұрын
Very well said!! Thank you !
@ThisIsOurRetirement
3 жыл бұрын
You are so welcome thanks for watching have a great day Cheers 🍷🙂🍺
@156dave
2 жыл бұрын
That’s okay if you have something to buy the orchard with in the first place.But if you’re renting all you’re life you cannot create the asset to earn interest from and used to pay the rent
@ThisIsOurRetirement
2 жыл бұрын
You have the additional funds to save because you don’t have the maintenance and repairs. This creates the retirement capital.
@robocop581
2 жыл бұрын
@@ThisIsOurRetirement You seem to magnify costs of maintenance and repairs. My father owned a Vancouver Special for 40 years. The only major thing he had to change was the water heater and washer and dryer. That's $18,000 over 40 years. Meanwhile, the house appreciated from $70,000 to $850,000.
@ThisIsOurRetirement
2 жыл бұрын
@@robocop581 No idea what a Vancouver special is 🤔 but we owned a house for over 20 years and it cost us way more than 18K even though we were mortgage free Cheers 🌺🙂🍷
@Katy32344
3 жыл бұрын
Canada...so different from the US. I'm glad I don't own rental property in whatever province that is.
@jodabney4358
3 жыл бұрын
We dont have rent control...I wish we did
@ThisIsOurRetirement
3 жыл бұрын
Rent control is great , hope you have a great week Cheers 🍺🍷🙂
@DesmondsDonders
3 жыл бұрын
Catching up with your move into Apple farming. Take care and stay safe.
@ThisIsOurRetirement
3 жыл бұрын
We are thinking of doing 🍎 Apple cider next LOL 😂 have a wonderful week Cheers 🍷👍🍺🍁TFW 😎
@AhmedHussein-tk5hm
3 жыл бұрын
Will appreciate a program on senior care in Canada options cost, subsidy and how you plan for it.
@seldom7288
3 жыл бұрын
You people look soo nice and lovely would love to meet you both
@ThisIsOurRetirement
3 жыл бұрын
Thanks for such a nice comment 🌺we hope you have a great day Cheers 🍺🌞🍷
@andreal2625
3 жыл бұрын
Kids should not count on an inheritance for the most part. Self sufficiency is important ( of course there are exceptions for disability and such).
@ThisIsOurRetirement
3 жыл бұрын
Couldn’t agree more the funny thing is that people think they need a house to leave an inheritance without thinking 🤔 that if you the parents sell the 🏡 home and invest the money 💰, the money is still there invested and the kids don’t have the burden of selling the home LOL 😂 Hope you are having a wonderful weekend Cheers 🍺🍷🌸
@danielle-sf4jk
3 жыл бұрын
Renting is better. There is a lot of responsibility with owning a home and appreciation can be offset with other investment gains that was saved through renting.
@ThisIsOurRetirement
3 жыл бұрын
Great comment we agree enjoy your week Cheers 🍷🌺🍺
@myhomeanddreamgarden
3 жыл бұрын
Every family and country have different rules and different story to tell. In your situation renting in your country worked well for you and with open brain you could organise your retirement life. It would not work in Australia renting as you would not have anything for retirement . Not renting but owning house you could sell house and get small apartment for older days and have some left overs money from that house. In Australia government know all of the tricks of the trade and only open minded and hard working people can own house and have good retirement.That takes most of the younger years to achieve and never give up of your goal.
@ThisIsOurRetirement
3 жыл бұрын
Hi before we rented here we had a home for the last 17 years , which we then sold 5 years ago and have invested the money to allow us to rent. This is what gives you in Canada and Australia the ability to sell , invest and retire early . Hope you are keeping well and have a great weekend Cheers 👍🍷🍺🍁
@myhomeanddreamgarden
3 жыл бұрын
@@ThisIsOurRetirement I have retired early , own house which I have payed of 17 years early and now I am enjoying my retirement. I come to Australia with $20 in my pocket. Today I am free worry woman with everything what I need for good life. But my work friends still have nothing and my God, I don't have idea what they going to do when they retire. Thank you for replay. Have nice weekend, I am off with my daughters to nice lunch .
@leeluan08
3 жыл бұрын
We are not obligated to leave anything to the children.
@ThisIsOurRetirement
3 жыл бұрын
That is very true, it’s a shame that people put their own enjoyment on hold and stay in a home so they can leave it to the children 🧐 Have a great week Cheers 🍺🍷🌸
@evadeanu1
3 жыл бұрын
Absolutely!
@Amabadam
3 жыл бұрын
Very interesting!
@bluetocop
Жыл бұрын
people dont realize the opportunity costs of ownership of a house which you speak about
@ThisIsOurRetirement
Жыл бұрын
We agree they don’t they think even if it’s morgage free there is no costs 🤔Cheers 🍷🙂
@NuraNURA
3 жыл бұрын
Thanks for sharing this interesting video, dear friends 👍👍👍 God bless you 🙏💖
@ThisIsOurRetirement
3 жыл бұрын
Glad you enjoyed it hope you are well have a wonderful weekend Cheers 👍🍷🍺🇨🇦
@ReggieLouise
2 жыл бұрын
I’m seriously considering doing what you’re doing, investing and renting. Just wondering, do you think you might get to an age where you would prefer to buy again? Particularly so that you’re not having to move at an older age (if the owner is selling)?
@ThisIsOurRetirement
2 жыл бұрын
We rent from a large corporation who owns 80-90 buildings and their business is renting , we have rent control so our increases are very small around 1.2% a year . We are happy with our decision Cheers 🌺🥂🙂
@ReggieLouise
2 жыл бұрын
@@ThisIsOurRetirement That definitely makes the decision easier, knowing you won’t be moved on by the owner.
@joanhingking
3 жыл бұрын
I would rather live in a house than rent. I am 71 and my house has gone up 600K in 14 years appreciated $14800 per year. I dont think you can get interest that much from any other investment. I would not sell my property until I had to.
@ThisIsOurRetirement
3 жыл бұрын
Thanks for your comment when we sold we invested our money 💰, if you had bought Bank Of Montreal dividend stocks last March 2020 they have gone up 50% to date plus the dividends we feel that’s great interest. Also when you have a house you have to have someone visit every 24 hours over winter to qualify for insurance, in our case we just shut the door and travel for 1 or 2 months with no worries. Something also to consider if it comes a time you have to sell often that might not be the best time to get the best price . TFW have a great weekend 🍷🌺
@cdnsilverdaddy
3 жыл бұрын
typical Chinese thinking .. incorrect
@ThisIsOurRetirement
3 жыл бұрын
@@cdnsilverdaddy Thanks for your comment have a great week Cheers 🍷🌺🍺
@ReggieLouise
2 жыл бұрын
A home you live in is an asset, not an investment. You only realise the gains if you sell.
@mgtowp.l.7756
3 жыл бұрын
Thank You Very Much For Sharing.. Can You Please Make A Video In Regards To "CANZUK?"
@ThisIsOurRetirement
3 жыл бұрын
Thanks for watching and bringing it to our attention as we weren’t aware of it have a great day Cheers 🍷🍺🌺
@mgtowp.l.7756
3 жыл бұрын
@@ThisIsOurRetirement My Pleasure.. Have A Nice Day..
@ThisIsOurRetirement
3 жыл бұрын
@@mgtowp.l.7756 You too 🙂
@canpin
3 жыл бұрын
Great video and new subscriber here. Btw, which province are you in if i may ask.
@ThisIsOurRetirement
3 жыл бұрын
We are in Ontario thanks for watching
@terrimoore6161
3 жыл бұрын
Love your videos! We are planning to retire as soon as possible. I am noticing my hubby a little reluctant... he wants to retire, but doesnt seem to want to start planning until our cc debt fully paid off? We are planning g to use the sale of our home as our retirement $ until we can start collecting cpp...oas, gis...(hubby is 59 this year, I will be 52) ... planning on full retirement around 2023... We are thinking we'll have around $500,000 to retire with by then... does this seem doable????
@ThisIsOurRetirement
3 жыл бұрын
That is awesome! sounds like a great plan , what you could suggest to him is when you sell the house use it to pay off all your debts this is a very freeing feeling. Your hubby will get CPP at 60 so yes you would need funds to fund your retirement, he will then get OAS and GIS (maybe ) at 65 you will then nearly be getting CPP. The amount you are talking about is very doable you need to invest maybe buy some dividend stocks, fund your TFSA and keep some in cash 💰 accounts . However we aren’t financial advisors just telling our story you should seek financial advice. Glad you are enjoying our videos have a great weekend Cheers 🍺🍷🌺
@5thdimension625
3 жыл бұрын
I’m sorry, but that’s nit enough money at your ages. IMO. You need a million plus minimum.
@terrimoore6161
3 жыл бұрын
By the way, we are retiring in Mexico!!!
@5thdimension625
3 жыл бұрын
@@terrimoore6161 still not enough. I’m sorry but you should start watching Dave Ramsey. He has a lot of discussions on the retirement calculator needed for your age bracket. I’m not trying to sound judge mental here but I don’t want you broke at 65. I see it all the time working with older adults in my profession.
@ThisIsOurRetirement
3 жыл бұрын
@@5thdimension625 Just remember it’s best to seek financial advice from a professional 🍷🌺
@marisapavan8615
3 жыл бұрын
Hello, I quite enjoy your videos , I cannot wait to retire! What is your opinion on the so called “ reverse mortgage” Do you know of strategies for staying in a home that is mortgage free and use the equity to supplement an retirement income? Thank you
@ThisIsOurRetirement
3 жыл бұрын
We for whatever reason are not fans of the reverse mortgage mainly because of the fees and commissions. We decided to sell our home, invest the money and rent an apartment.
@jodabney4358
3 жыл бұрын
My mortgage is cheaper than any rent in a decent area
@ThisIsOurRetirement
3 жыл бұрын
That might be true but when you add all your monthly expenses on top we found renting the better deal Cheers 🍷🍺🌺
@jodabney4358
3 жыл бұрын
@@ThisIsOurRetirement we actually did all the numbers for our area and we couldn't beat it. I would love to be able to call an apartment manager for repairs 😁
@ladyjade6446
3 жыл бұрын
Me too.
@gratefulketo2211
2 жыл бұрын
What you are not taking into account is the fact that housing prices go up. It is truly amazing how much my house has gone up in price in just few years. My utilities, taxes and other costs are nowhere near what the cost of renting is. When you think of selling, you are also probably thinking of housing prices in Southern Ontario. Northern Ontario housing prices are nowhere near the amount of your area. So, even though I have a very well kept up modest house, I could not live off of the money I make from its sale.
@ThisIsOurRetirement
2 жыл бұрын
We like to share ideas to prompt people into thinking about their situation and possibly question how they are thinking towards life. We do realize it won’t suit everyone. Thanks for watching.
@gratefulketo2211
2 жыл бұрын
@@ThisIsOurRetirement So true. You are always thought provoking which is why I subscribed!
@ThisIsOurRetirement
2 жыл бұрын
Thanks we appreciate your support Cheers 🍷🌺🍺
@biggertom1234
3 жыл бұрын
You were always paying a mortgage what if you owned your house OUTRIGHT!!!?
@ThisIsOurRetirement
3 жыл бұрын
We did, carry cost of the mortgage free home were within $100 of the apartment rent we took, but NO repairs or maintenance.
@soldierhobby2038
8 ай бұрын
Still pay for property taxes, home insurance, repairs, replacements.
@sewnsew6770
2 жыл бұрын
Which province has rent control?
@ThisIsOurRetirement
2 жыл бұрын
Ontario, B.C., Manitoba and P.E.I
@sewnsew6770
2 жыл бұрын
@@ThisIsOurRetirement thanks am thinking of retiring in Ontario am a Canadian citizen by birth. My wife likes idea of renting in retirement. I appreciate your channel
@ThisIsOurRetirement
2 жыл бұрын
@@sewnsew6770 Great we are enjoying renting our apartment Cheers 🍷😎🌺
@HabibPharmacy
3 жыл бұрын
Amazing amazing amazing so lovely ☺️☺️☺️💕💖👌👏
@ThisIsOurRetirement
3 жыл бұрын
Many many thanks take care ATB 🍺🌺🍷🙂
@wetcake9092
3 жыл бұрын
Renting is better for short term living and the mobility aspect. Home value appreciation should almost always beat rent increases over time. But after selling 8 houses, renting must be a relaxing living option for you
@ThisIsOurRetirement
3 жыл бұрын
Selling our home gave us the Capital to invest and be able to take early retirement which as you say has given us a very relaxing stress free option. Also houses can go up and down in value in our past we have had both, as we have rent control our increases are very small and our apartment is becoming our asset as if you came in now you would be paying $4-500 a month more than us. Have a great week Cheers 🌺🍷🍺
@alohastateofmind3565
2 жыл бұрын
@@ThisIsOurRetirement I get what you are saying but technically your advice isn't applicable to someone coming in now and having to pay 4-$500 more.
@ThisIsOurRetirement
2 жыл бұрын
@@alohastateofmind3565 We think it is applicable because they would have benefited from 6 years of house price increases, the biggest in Canadian history. Their capital will be bigger! And they will be grandfathered in through rent control so in 6 years their rent will be below market value.
@ajones8699
3 жыл бұрын
What you say is inaccurate and misguided. If you spend the interest, your capital is being ravaged by inflation.
@ThisIsOurRetirement
3 жыл бұрын
We are talking broad strokes here and not giving individual financial advice, we don’t spend any interest as we have royalty income. If anyone earns interest you only take half to live on leaving the other half to offset inflation.
@helomech1973
3 жыл бұрын
I am sorry, but this makes no sense. It is cheaper to buy a house than to rent one. Everything you said was a asset for renting can be the same asset in ownership. You do realize you can rent out your house if you want to leave it? Then you have a asset that pays you every month. Maybe you are trying to justify your actions, but no way is renting better than buying. Just think if you 2 had kept those 8 house that you sold and where renting them out. If what you say makes sense than no one could afford to rent a house. They are charging you a premium over their costs to run the house.
@ThisIsOurRetirement
3 жыл бұрын
Without a thorough financial account of rent v ownership we will never convince you, your views are entrenched with you, (not a bad thing), a KZitem video isn’t going to change your mind. We are all individuals with our own beliefs that’s the nice thing about life. We are just telling stories to entertain and provoke thought. Thank you for watching and taking the time to add to the discussion, we appreciate that.
@helomech1973
3 жыл бұрын
@@ThisIsOurRetirement Please show me where I am wrong. One or two sentences. I have 40 acres and a house and pay 500 a month for it. After 15 years I have about 200k in equity in it. To rent a house the size of mine on a small lot would cost me over 1200 a month any where near me. That would mean I would have spent over 200 in the 15 years and would have zero equity. I have spent 90k in that time frame and have over 200k in equity. Sure it would take me a little while to sale it, but I could always rent it out for 1500 a month and then just buy a new place. And I could have it rented in no time. I would like to see on paper with real numbers how you can say it is better financially. And to add to this my payments do not go up. Even though yours only goes up 1.8% a year over 30 years that is a lot. Mine will not change.
@ThisIsOurRetirement
3 жыл бұрын
What we found was that you don’t see all the hidden costs , the small amounts of money you keep spending on the upkeep of a place really mount up . In our case we needed to sell each house 🏡 in order to buy the next one . Have a great weekend Cheers 🍷🍺
@helomech1973
3 жыл бұрын
@@ThisIsOurRetirement but the owner of the house you rent sees the same things, yet still makes a lot of money off you.
@ThisIsOurRetirement
3 жыл бұрын
@@helomech1973 We will never agree, but thanks for the discussion.
@roido6614
2 жыл бұрын
I say this with Respect, You are like KZitem Parent's to us Millennials with all these future decisions about our own retirement. God Bless you both with long life. Peace!
@ThisIsOurRetirement
2 жыл бұрын
Thanks for your comment, we really want to talk to the younger generation.
@KeepItMowed
3 жыл бұрын
My wife and I have always rented. We hear the arguments about how we're throwing away our money. Well there's a few things to consider. We live in Houston, Texas. Texas has no state income tax and a very reasonable sales tax. But owning homes in any city is very costly because of outrageous property taxes. You never truly own your home. Don't forget home owners insurance and the must have flood insurance. Then there's the upkeep, repairs etc. If you rent from a quality ran apartment complex that has good management and a strong corporation behind it, life is pretty easy. No paying for air conditioning break downs, no pay for a new dishwasher etc. Great facilities, quality pool, workout rooms and even meeting rooms and offices for your use on site. We treat our apartment like we own it. We don't abuse the appliances etc. The first sign of trouble we communicate with the property manager. Our rent has rarely gone up over the years. We enjoy living on the top floor. No one above us. We have no children, but if we did, the fruit trees would be much easier on them. Freedom from the above mentions brings value to our lives. Who wants to be retired and not have true freedom to do the fun stuff. Like always, great videos!
@ThisIsOurRetirement
3 жыл бұрын
Oh my you are kindred spirits, when you use critical thinking and analysis and don’t delude yourself on the cost of carrying a mortgage free home then the logical step is renting and living for yourself and not being owned by the house. Such a great comment thank you for sharing your insights and congratulations on getting it.
@Duke_of_Prunes
Жыл бұрын
I have always owned -- 2 houses, 2 rental houses, and an apartment complex. It takes an entire day just to mow all the grass. I am nearing retirement, and have vowed to sell everything. Making someone else cut the grass is my dream.
@stevendblois69
3 жыл бұрын
A super late comment. From my own experience, living across Canada....i got more out of it than most. I did not own property, i did not have a family, and i did not incur debt. I paid cash for uni. and got to see more than the average man's lifespan by the age of 30. Then i trained young adults how to play in the alpine and rivers safely, in Canada. Glad to see that you are so positive with your situation. You arw both so sweet!
@bobjacobson858
Жыл бұрын
I found this video very interesting because I've never owned any property. I'm 70 y/o and have been retired almost 10 years. I was fortunate to find an inexpensive apartment in which I lived for 18 years before retiring (owned by an older couple who weren't trying to make a 'killing' so they didn't bother to raise the already-reasonable under-market rent) and before that I shared an apartment for 12 years in another city. This enabled me to save a large chunk of my salary for retirement. On the other hand, I've known a few people who LOST money by buying a house: one lost a job and had to move to another area for a new job, but ended up paying two mortgages until the first house sold, and the other had a similar issue but real estate prices fell where he lived, so he lost considerable money. I asked the second man why he had bought a house, and he said "I thought that is what a person is supposed to do!" I'm in the US, and I suspect adhering to the "American Dream" mentality has caused financial problems for many people.
@ThisIsOurRetirement
Жыл бұрын
Great comment Bob thanks for sharing this, if your disciplined with money and can save then renting is probably the better investment.
@bobjacobson858
Жыл бұрын
@@bert1450 Where do you live? How long have you lived there? Unfortunately, because of most people having to live near where one's job is located, living in such a place isn't necessarily an option.
@guitrr
3 жыл бұрын
Regarding leaving your “family home” as a legacy to your kids, in 2021 this isn’t the culture of an agrarian society. Many folks don’t understand that your children don’t want your stuff. They don’t want your house, they don’t want 98% of your belongings.
@ThisIsOurRetirement
3 жыл бұрын
They don’t want to have to clear a lifetime of possessions from the family home either. We agree with you, that is the path we have chosen. Have a good weekend
@guenthermichaels5303
3 жыл бұрын
@@ThisIsOurRetirement oh yes....when my parents died, they had a retirement house on North Vancouver island in a fishing village..It was a nightmare flying out there and clearing out 40 years of stuff.. Before we could sell the house..I think you are being very considerate of your children... Cheers from Toronto
@TR4zest
3 жыл бұрын
It depends on where you live. In the UK, many boomers are becoming millionaires after inheriting their parent's homes.
@ThisIsOurRetirement
3 жыл бұрын
@@guenthermichaels5303 Thanks for watching Cheers 🍺🌺🍷
@ThisIsOurRetirement
3 жыл бұрын
@@TR4zest Guess they won’t complain about clearing it then LOL 😂😂
@markbajek2541
3 жыл бұрын
Sometimes it's just nice to not have to mow the lawn, fix the faucet, re roof the house, replace the water heater or the fridge. Renting can also free up quite a bit of leisure time. Just lock the door behind you and go hike up a mountain side, see a movie, have lunch with some friends.
@ThisIsOurRetirement
3 жыл бұрын
Absolutely you got it ! have a great weekend Cheers 🍷🌺🍺
@xo7454
Жыл бұрын
Yes! I did the homeowner and also the landlord thing for 15 years. Home ownership is overrated. 😊
@lizzieb6311
2 жыл бұрын
No way you are throwing away your money on rent. I just contracted with an Arborist to remove Spanish Moss and fertilize my 4 trees… $750! Last month $900 in AC repairs… it never ends. Owning my home and keeping it in good repair in order to resell it at a competitive market rate costs a fortune. Looking to sell this house and downsize to a rental apartment or possibly a cottage in a resort that handles all the maintenance. Every year, without fail, there is at least one big repair. This summer: new driveway to replace the terribly cracked 35 year old driveway.. cost: $8500 😟. I miss the good old days of carefree apartment living in my younger years.
@ThisIsOurRetirement
2 жыл бұрын
Yikes 😱 exactly all those unexpected ownership costs just to keep up so you can sell, we are so glad we did and love our apartment where they take care of the problems Cheers 🍷🌺🍺
@barbsinclair7352
3 жыл бұрын
This is exactly what I've been thinking of doing for a long time now; I will retire in a few years and would love to stop dealing with a house; and just rent, I am constantly putting money into the house to keep it in top shape, but after awhile I don't think I am gaining much at all. So its nice to hear others that are doing it already and also understand that its not always just throwing money away. And I always said that I don't want to leave that burden on my kids to have to clear out and sell my house; and most of the time that's all it is, they have their own homes.
@ThisIsOurRetirement
3 жыл бұрын
Hi Barb all we can say we did it sold the house then rented 5 years ago and never looked back , when we had a house mortgage free what it cost us per month in running costs to us renting was $100 different but so much less stress life is great . What we would say is the sooner you get in on renting the better deal you get if you came in to our place as a new tenant you would be paying $400 a month more than us . TFW and have a great week Cheers 🌺🍷🍺
@wlonsdale1
3 жыл бұрын
You’re off your rocker if you don’t think landlords don’t think of those costs when figuring rent pricing
@truthseeker9688
3 жыл бұрын
@@wlonsdale1 exactly. There would be no landlords if there weren’t huge profits in Owning the apartments.
@stickbrick8219
Жыл бұрын
My wife and I have been married 23 years. We rented a very small apartment the first year and a half. We look back and as we were operating only 1 car, buying very little for the house, no maintainance costs and we were able to save a full salary and live off the other salary. Our Vancouver area house has done very well but we never have had as much cash for investments or to spend on fun like travel and entertainment. In the suburbs we needed a second expensive car.
@IamaDutch-Kiwi
3 жыл бұрын
As every choice one makes, depending in the country of residence, there are pros and cons to every situation. I am so happy for you that your planning, researching and knowledgable backgrounds have helped you get to where you are in life. Your positiveness can be felt through the screen with those happy smiles. Thanks for that interesting peek into rental options. Keep safe, keep smiling and enjoy the good life. 🍷👍🎥❤️🌷🙋♀️
@ThisIsOurRetirement
3 жыл бұрын
Good morning ☕️ Thanks for dropping by we do feel very happy with our decision and you are right we all have choices to either change or stay the same. We hope you are managing some local travel stay safe , keep well and enjoy your weekend Cheers 🍷👍🍁😎🌺
@sinetheawhy
3 жыл бұрын
This is my second video of your channel and I am just loving it. You two are adorable and so polite, and I come away for lots of food for thought. I feel like we bumped into each other on a cruise and had a nice chat. Thank you for your uploads!
@ThisIsOurRetirement
3 жыл бұрын
Thank you so much!!
@ToddSauve
3 жыл бұрын
If you do want to leave your kids something in your will, your way of doing things is good--if you do the following. Rent an apartment that is less expensive than paying a mortgage, taxes, etc., and then take those savings and invest them along with what you got for your home. Then live on less than what you are receiving in interest payments from your investments. It would all depend on what those numbers amount to, and whether you can live comfortably on it. And also taking into account whatever taxes you have to pay at the end of the year. But yes, you could work out a nice tidy little package that benefits you and your children in every way. The only problem I foresee is our insane governments spending way more than they can afford and then plundering everyone to pay for their irresponsible spending.
@RenLuuk
3 жыл бұрын
This is such an important video. I love how you guys are going on your channel. You have definitely helped me rethink what I should be doing in retirement. You bring such a fresh perspective to the benefits of renting. I love your advice. Thank you 🥰🙏🏴🍷🍷
@ThisIsOurRetirement
3 жыл бұрын
Thanks Karen we thought it a very important topic as a lot of people have preconceived ideas that aren’t true about renting and we thought the same too😱. Hope you and your family are keeping well enjoy your day ATB 🍷🍁🍺🎃
@mtadams2009
3 жыл бұрын
This is the deal owning a house is rarely a good investment, this is fact but many will debate this fact. I own two homes and pay a combined property tax of 36,000 per year lets not even get into repairs, upgrades and the mortgage. Why then do I not rent and never plan on renting, I have and I hate living in apartments. For me its like living in a cage. But I totally agree with your financial advice. Many years ago someone coined the phrase you can't loss in real estate, which is not true. I have done OK in real estate but all my real wealth has come from the stock market. I may be wrong but from what I have seen you live in or near a big city where housing prices are insane. I could be wrong. As soon as I retire I am selling my way over priced house near NYC and moving to my country home. For many selling a low cost rural home makes no sense as the cost is low, renting options are limited, no apartment building for example.
@ThisIsOurRetirement
3 жыл бұрын
There will always be a debate on this topic we had a gorgeous home for 20 years, we did the maths on staying even mortgage free and renting and for us renting won hands down. We have a very spacious 2 bed 2 bath 1340 sq ft Apartment with huge balcony with ensuite laundry so definitely not cramped at all . Hope you have a great week Cheers 🍷🍺🌺
@jayknier2278
3 жыл бұрын
Great video. Thanks! Owning a home is expensive from a maintenance and tax perspective. We are often oversold on the values of owning a home.
@ThisIsOurRetirement
3 жыл бұрын
Yes we hear you and we thought that way for many years , very glad we changed we have enjoyed every minute of our 5 years here. Have a wonderful weekend Cheers 👍🍷🍺🍁
@debbielockhart7762
3 жыл бұрын
And most.people tend to severely underestimate the amount that upkeep and the true costs of ownership come to. When we owned a beautiful home in Ottawa it cost us over $80k in the space of a few years. Siding, tree removal (dead trees from ash beetle), fencing, pool deck, pool liner, new furnace, well pump, etc). Or even worse, they completwly ignore the upkeep and let their house basically fall into disrepair. And property tax was about $500/month alone, never mind the mortgage.
@wlonsdale1
3 жыл бұрын
Please don’t tell me you think the landlord, out of the goodness of his heart, is covering those expenses. YOU are paying those
@wlonsdale1
3 жыл бұрын
@@debbielockhart7762 and if you rented it out, you would have charged enough in rent to cover it.
@debbielockhart7762
3 жыл бұрын
@@wlonsdale1 Rents are dictated by the market, not by the size of the landlord's expenses. In overpriced markets many people take a monthly loss on their rentals.
@CP59FIT
3 жыл бұрын
I agree with your thinking. I owned a home for 20 years and now that I'm a few years from early retirement I sold during the pandemic and moved to an active senior apartment. It is costing me less and I have lots of fertilizer for the orchard. I now have the freedom to decide which country I want to live in once I retire. I have no regrets and anything left will go to my estate. Yes, my former home is still appreciating, but I do expect the market to crash at least once in the next 20 years and didn't want to be stuck with it in a down market. I am also realizing gains on the capital, maybe not as much as the equity is going up in the house but I eliminated the downside crash.
@ThisIsOurRetirement
3 жыл бұрын
That’s great, we have had 2 houses in our life where we sold it for less than we bought it for due to market corrections and inflation. You have given yourself mobility so you can move within 30 to 60 days if you wish and reduced social isolation. Also you have reduced the liability to your capital but not having unforeseen housing maintenance. We wish you a great retirement wherever that takes you, it sounds exciting. Thanks for your great comment.
@NeilLevalier1
3 жыл бұрын
I’m about 5 yrs out till retirement and I like your ideas. Especially about renting vs owning.
@ThisIsOurRetirement
3 жыл бұрын
TFW it has worked for us , hope your plans for retirement work out have a great weekend Cheers 🍷👍🍺🍁
@niallmcdonagh1093
3 жыл бұрын
I think one of the reasons people are reluctant to rent is the imagined stigma. Being older you have the joy of not giving a damn!!
@ThisIsOurRetirement
3 жыл бұрын
Great comment thank you , we love your sense of humour 😂 hope you both are stay and keeping well have a great weekend Cheers 👍🍷🍺🍁
@jaxwylde2139
3 жыл бұрын
LOL. Great comment. We own our home (3 more years to go), but given current housing market in many cities around North America, many young people don't have the option of buying unless they have a high salary or other windfall (inheritance, etc.). If I was starting over today, I'd rent and invest the delta (i.e. from what I'd be paying in Mortgage + property tax + maintenance). After 25-30 years, I'd have a nice retirement portfolio.
@debbielockhart7762
3 жыл бұрын
@@jaxwylde2139 Exactly. There's more than 1 way to skin a cat. Here in Victoria, BC I find renting makes more sense as housing is so overpriced. I save a lot this way.
@thoryan3057
3 жыл бұрын
@@jaxwylde2139 Not true. I came from nothing and have a moderate typical fresh-out-of-college salary. After 9 months of renting with my first job, I am buying a condo. It's about being responsible with the money you do earn and having realistic expectations when house shopping. The only benefit of the doubt I will give is that my student loans aren't bad and I haven't had to pay a penny of even my small payments because of the Covid forbearance. But other than this young people can buy a house if they want to.
@thoryan3057
3 жыл бұрын
@@jaxwylde2139 Just noticed you said "invest the delta." As a math enthusiast I approve lol! And I'll be continuing to invest for retirement too (401K match and Roth IRA limit), so I have taken that into account. :P
@judymcfadden3577
3 жыл бұрын
This is very interesting because, I am planning to retire in 7 years. (67) Your choices maybe not everyone's, but it does give a person something to think about.
@ThisIsOurRetirement
3 жыл бұрын
Thanks for watching we wish you well for your retirement have a great week Cheers 🍺🍷🌺
@billclarke3754
3 жыл бұрын
Twenty years ago I would be emphatic about owning and not "Throwing money away!" Now I prefer renting when it's less than 1%, per month, of the fair market value. In any case, do what makes you happy 😎
@ThisIsOurRetirement
3 жыл бұрын
Absolutely couldn’t agree more we are very happy with our decision to rent and since taking early retirement 5 years ago we haven’t looked back have a wonderful weekend Cheers 🌺🍷🍺
@PJ-Sparkles
3 жыл бұрын
My husband has been trying to get me to consider renting as well - we would make more in interest per month by investing the money from our house sale than we would pay in rent per month. Plus - no property tax, utility payments, etc.
@ThisIsOurRetirement
3 жыл бұрын
Financially it makes a lot of sense and protects your capital however if you are not certain about it it may not work for you.
@evelinholmes6401
2 жыл бұрын
My thinking is renting an apartment you can have awful loud neighbours. We still live in our house which is mortgage free . We can’t move into the country villages because of health problems. I did check the rents and there very high in Calgary. So for us it makes no sense to rent. We are close to our doctors and hospital. We used to be avid travellers but do to medical conditions out of the blue we can’t travel at this time and probably never will again. Everything stops once your diagnosis is established. Of course we thinking of downsizing but it is still cheaper to live in our house at the moment.
@davidsmith530
3 жыл бұрын
There is a time in your live to own (when you are young and growing a family). And time to rent(when you are retired and your family has grow ). We owned our home for 42 years and over that time the equity grew 11 times what we paid for the house. It was like winning the lottery .We will be able to live on the interest from the money with no debt. And the big thing is that the upkeep is the landlords problem.
@ThisIsOurRetirement
3 жыл бұрын
What a great comment we are living just that and it is wonderful guess like winning the jackpot 🎰 wishing you a wonderful retirement and great Easter 🐣 weekend Cheers 🍷🐣🍺
@mumtazahmed2682
3 жыл бұрын
@@ThisIsOurRetirement UYeh but the jackpot is only for people who had bought their houses/property some 15/20 years back , the same can't be said about buying now as the appreciation will never hit that level even in next 10/15 years
@martik778
3 жыл бұрын
Owning a mortgage free house in the GVA was the #1 reason we were able to retire in our 40's. Now that we are "Seniors' we considered renting or downsizing but with the very high cost of rent of at least 24k (30k before tax) for 1/4 the space, it doesn't seem like a good option. Most of the proceeds from selling would have to go into non-registered taxable portfolios. Plus we enjoy all the space and the maintenance and gardening keeps us in shape. Might be a more attractive option when we get older. Great videos BTW :)
@ThisIsOurRetirement
3 жыл бұрын
Thank you for watching, everyone’s situation is different and we appreciate a one size fits all solution is unrealistic. It is a series of decisions that we took, selling our home moving to a cheaper area and living for ourselves, not our house. We value experiences at this time of life more than possessions. We really appreciate you adding to this discussion.
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