THROWING MONEY AWAY ON RENT - Why We Rent As An Investment

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This Is Our Retirement

This Is Our Retirement

Күн бұрын

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@roido6614
@roido6614 2 жыл бұрын
I say this with Respect, You are like KZbin Parent's to us Millennials with all these future decisions about our own retirement. God Bless you both with long life. Peace!
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thanks for your comment, we really want to talk to the younger generation.
@stickbrick8219
@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.
@KeepItMowed
@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
@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
@Duke_of_Prunes 2 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.
@bobjacobson858
@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
@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
@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.
@markbajek2541
@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
@ThisIsOurRetirement 3 жыл бұрын
Absolutely you got it ! have a great weekend Cheers 🍷🌺🍺
@xo7454
@xo7454 Жыл бұрын
Yes! I did the homeowner and also the landlord thing for 15 years. Home ownership is overrated. 😊
@JackdawWatcher
@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
@ThisIsOurRetirement 3 жыл бұрын
Thanks for watching! so glad you enjoyed it have a great week Cheers 🍷🐣🍺🌺
@stevendblois69
@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!
@Jennifer_150
@Jennifer_150 3 жыл бұрын
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
@ThisIsOurRetirement 3 жыл бұрын
That is awesome! we love renting have a great weekend Cheers 🌺🍷🙂
@rogerwalker1266
@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
@sammencia7945 Жыл бұрын
Hongcouver houses are bank accounts for CCP members laundering money.
@barbsinclair7352
@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
@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
@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
@truthseeker9688 3 жыл бұрын
@@wlonsdale1 exactly. There would be no landlords if there weren’t huge profits in Owning the apartments.
@guitrr
@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
@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
@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
@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
@ThisIsOurRetirement 3 жыл бұрын
@@guenthermichaels5303 Thanks for watching Cheers 🍺🌺🍷
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
@@TR4zest Guess they won’t complain about clearing it then LOL 😂😂
@sinetheawhy
@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
@ThisIsOurRetirement 3 жыл бұрын
Thank you so much!!
@edgydoug
@edgydoug Жыл бұрын
Brilliant! My wife and I live in Manitoba and our province has rent controls as well. We've said for a number of years we'd rather rent than sell our home and buy a condo. You've made a brilliant case supporting what we're considering. To be honest one of the things holding us back is the "stuff" we've accumulated in our home over the past 30 years. We're certainly not hoarders but we have "stuff" to get rid of before considering a move. I can certainly see where the whole process could take a year. Thanks again for sharing your experiences and insights.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We are so glad we did it , make a plan with an end date a year worked for us that’s the push to make you get rid of stuff, sell it , throw it away , give to charity shops start one room at a time . It’s very freeing getting rid of stuff , we should of got rid of more !! Have a great weekend Cheers 🍷🙂🌺🍺
@patsycathcart1
@patsycathcart1 Жыл бұрын
My husband and I have recently been playing with the idea of selling our home, investing the money, and renting an apartment. We live in the US and do not have rent control in our state, but we still believe this will be a great way to downsize and save our initial investment from our home. Thank you for your well thought out advice.
@patsycathcart1
@patsycathcart1 Жыл бұрын
@@bert1450 Yes, losing our beautiful yard and screened porch is terrible. Rental units are outrageously expensive where we live, but we are weighing those costs. Having the money earned from the sell of our home in an investment account would help with those costs and/or travel. We are 70 and 73, do not want to leave this 4,000 square ft home full of stuff for our kids, and are tired of the maintenance and yard work you mentioned. We travel a good bit and would be able to travel more without the worry of a home. Good luck to you!
@sandradawe9224
@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
@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 🍷🌺🍺
@lizzieb6311
@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
@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 🍷🌺🍺
@PH-dm8ew
@PH-dm8ew 3 жыл бұрын
So many professional high budget retirement videos out there, yet yours are actually useful. Thanks and be well.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thanks so much
@sussumunakamura8474
@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
@ThisIsOurRetirement 2 жыл бұрын
You are so welcome! Sussumu have a wonderful weekend Cheers 🍷🌺🍺
@IamaDutch-Kiwi
@IamaDutch-Kiwi 4 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
@ThisIsOurRetirement 4 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 🍷👍🍁😎🌺
@mikedennington8856
@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
@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
@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
@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
@david-lt9wj 3 жыл бұрын
@@kjmorley depends how big your house is......big house big bills...
@kjmorley
@kjmorley 3 жыл бұрын
david True. Also, old house, big bills.
@JenShea
@JenShea 4 жыл бұрын
Hello you two, great to see you! I guess we’ve been very fortunate living in Ontario. I’ve never owned a home, always rented. I have friends who are home-ownership poor. I do believe it depends on your individual situation... income, family, etc. I’ve had to clear out my Mum’s house. It made me appreciate getting rid of a lot of ‘stuff’ already. My daughter saw what I went through with Mum’s house and she has made it clear she doesn’t ever want to have to go through that herself. So, I make sure I only have what I love and need and I’m aware that any of that will possibly be tossed when I no longer ‘need’ it. I don’t want to put my daughter through such a difficult task... and you two have already done the hard work too, so your family won’t have to either. I know you already appreciate the freedom this has given you. Have a super weekend. Cheers ~ 🍷 🍺
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Hi Jen it’s it amazing what parents hold on to thinking it’s all needed and important when we downsized and sold the house it was a great freeing feeling. We also think we still have some stuff here to get rid of as well LOL 😂😂 Hopefully our children saw us do that and appreciate that they don’t have that chore. Funny you say you have always rented my aunt and Norms Grandma always rented never bought. Hope you are staying safe and keeping well enjoy your weekend Cheers 👍🍷🍺🍁🌺
@JenShea
@JenShea 4 жыл бұрын
@@ThisIsOurRetirement We have to have stuff and I think we should have things around that we love and bring us joy... but at the end, we have to remember what we love our kids may not. Ha ha. I’ve been through the whole thing twice... first when my mother in law passed away. I wouldn’t want do that to anyone! When I was married we lived in my (ex) husband’s family home so I personally didn’t own it. And since, I love the freedom I have not owning. When I eventually settle in Portugal I think I might buy my first place !!!
@NeilLevalier1
@NeilLevalier1 4 жыл бұрын
I’m about 5 yrs out till retirement and I like your ideas. Especially about renting vs owning.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
TFW it has worked for us , hope your plans for retirement work out have a great weekend Cheers 🍷👍🍺🍁
@pj3998
@pj3998 3 жыл бұрын
So love your channel, such a good example to us all.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thanks so much we appreciate you watching, hope you have a great week Cheers 🙂🍷🍺
@jayknier2278
@jayknier2278 4 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
@ThisIsOurRetirement 4 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
@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
@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
@wlonsdale1 3 жыл бұрын
@@debbielockhart7762 and if you rented it out, you would have charged enough in rent to cover it.
@debbielockhart7762
@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
@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
@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.
@joanzach4859
@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
@ThisIsOurRetirement 2 жыл бұрын
Yes rent control is awesome, very few U.S. states or cities have it.
@martik778
@martik778 4 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
@ThisIsOurRetirement 4 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.
@judymcfadden3577
@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
@ThisIsOurRetirement 3 жыл бұрын
Thanks for watching we wish you well for your retirement have a great week Cheers 🍺🍷🌺
@barrypratt8837
@barrypratt8837 3 жыл бұрын
Great job on the videos, very clear and informative.
@stevendblois69
@stevendblois69 3 жыл бұрын
Again.... You guys are lovely! Keep it up. Polite and gracious!
@tonydomingos4548
@tonydomingos4548 3 жыл бұрын
LOVE the apple tree story. Makes so much sense!
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thanks just keep picking those apples 🍎🙂
@PlanetImo
@PlanetImo 4 жыл бұрын
Always good to see you both keeping well and productive during this time. x
@ThisIsOurRetirement
@ThisIsOurRetirement 4 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 🍷👍🍺🍁
@PJ-Sparkles
@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
@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
@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.
@hedovein3540
@hedovein3540 3 жыл бұрын
Thanks for the wisdom. Suggest you say people should read the fine print before subletting though. Differnt places have different rules. Love your forum and keep up the ingenuity!
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
You are right and we keep trying to say that we are not financial advisors and you should seek professional advisors to suit your circumstances, thanks for your comment and suggestion.
@mtadams2009
@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
@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 🍷🍺🌺
@niallmcdonagh1093
@niallmcdonagh1093 4 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
@ThisIsOurRetirement 4 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
@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
@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
@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
@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
@carolmichael1813
@carolmichael1813 4 жыл бұрын
Hi folks. So good to see you. Been a tough time here but thankfully getting there bit by bit. My landlords selling which is a complete shock.Wishing you a lovely day. My friend in Calgary has snow. We have storms ⛈ mostly. Hope we don't have snow too soon. All love for a good weekend. Stay safe🙏🍺🍷🏴󠁧󠁢󠁳󠁣󠁴󠁿
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Hi Carol nice to see you , we are sorry your Landlords selling so now you are looking for a place to live . We rent from a large company that has multiple locations , maybe consider that when looking. We have seen a lot of rain in Scotland and England it’s very mixed here yesterday was 20° really nice and today only 7°, no snow ⛄️and we like it like that for as long as possible. Stay safe and keep well enjoy your weekend Cheers 👍🍷🍺🍁
@colleenla40
@colleenla40 3 жыл бұрын
This makes so much sense. Great work.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thanks so much.
@LinaandDanTravel
@LinaandDanTravel 4 жыл бұрын
What a great subject! So nice to meet you guys and thank you for visiting us! We look forward to learning so much from you guys! Many blessings! 🤗 💕
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Thanks and welcome to our channel , hope you have a great week Cheers 🍷🍺🙂🌺
@mojsharhappy
@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
@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.
@davisholman6518
@davisholman6518 3 жыл бұрын
My home has increased in value by over $200,000 (I live in Scottsdale, AZ, USA) in the last five years. It will increase at least $30,000 in 2021. It has been a sound investment & 8 will be renting it out to live in a small apartment some day in the future. But the increase in value has been a true benefit for me.
@davisholman6518
@davisholman6518 3 жыл бұрын
I do love your channel, btw & want to see some more of the world before I am too old to enjoy it, LOL. Hopefully, I will have a nice family living in my home, financing my trips with the rent they pay me!😎
@mariaandbryan
@mariaandbryan 4 жыл бұрын
Totally agree with you guys about the legacy. All very fair perspectives. Stay safe guys
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
You too stay safe and keep well enjoy your Sunday Cheers 👍🍷🌺🇨🇦
@davidsmith530
@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
@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
@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
@hailey0675
@hailey0675 Жыл бұрын
You both inspire me, thank you very much!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks Hailey!
@RenLuuk
@RenLuuk 4 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
@ThisIsOurRetirement 4 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 🍷🍁🍺🎃
@lastempire7302
@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
@ThisIsOurRetirement 2 жыл бұрын
We agree but retirement does bring worries that we find difficult to handle.
@altenberg-greifenstein
@altenberg-greifenstein 2 жыл бұрын
Abusing the welfare system, I see
@berg8970
@berg8970 3 жыл бұрын
Thank you for the video. My wife and I are planning on doing the very same thing, only we are moving from the U.S to Portugal then to Spain and whatever country after that strikes our fancy.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Sounds like a great plan, we love 🇨🇦 Canada and have family here so renting in both places gives us the best of both worlds 🌍 enjoy your weekend Cheers 🍷🍺🙂
@ItsAboutTimeNow
@ItsAboutTimeNow 4 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
@ThisIsOurRetirement 4 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 🍷🍺😎🌞
@JMichael2x2
@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
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing have a great day Cheers 🍷🌺🍺
@theoldcameraguy
@theoldcameraguy 4 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
@ThisIsOurRetirement 4 жыл бұрын
TFW we are loving renting and yes rent control is a great factor , stay safe and enjoy your weekend Cheers 👍🍷🍺🍁
@adm58
@adm58 2 жыл бұрын
Great rental terms there. Not the same here in the UK. Tenants here are subject to rent increases at the whim of the landlord and can also be evicted at just two months notice, also at the whim of the landlord. I think renting is a great option for retirees as it allows them to spend any capital they have built up by owning a home, and also removes the pressure of managing and maintaining a home. Unfortunately, not with the lack of security of tenure here in the UK.
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Wow yes that doesn’t sound good in the UK 🇬🇧 we have it a lot better in Canada 🇨🇦 Cheers 🍷🇬🇧🇨🇦🙂
@mollyt4639
@mollyt4639 2 жыл бұрын
In Scotland there is currently an eviction ban & a rent freeze. Normally landlords have to give 6 months notice … unlike England
@adm58
@adm58 2 жыл бұрын
@@mollyt4639 yes, but that will no doubt soon result in there being hardly any places offered to rent so there'll still be a problem. For example, how can landlords sustain frozen rents when their costs increase through inflation and rising interest rates?
@friedrichengels2236
@friedrichengels2236 3 жыл бұрын
Welcome to Canada and wait for....surprise...surprise....surprise..God Bless You and enjoy Canada
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Yes! Thank you! we are loving being here Cheers 🍺🍷🌺🇨🇦
@RVOnTheWayside
@RVOnTheWayside 4 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
@ThisIsOurRetirement 4 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
@RVOnTheWayside 4 жыл бұрын
@@ThisIsOurRetirement ❤️ ❤️ ❤️
@OurDaysOut
@OurDaysOut 4 жыл бұрын
Interesting stuff Guys, thanks for sharing, and have a good weekend. Paul and Suzanne.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Hi Paul and Suzanne thanks for joining us this morning , glad you enjoyed it hope you are both well have a great weekend Cheers 🍷🍺🍁😎
@sammencia7945
@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.
@lillygardens1
@lillygardens1 3 жыл бұрын
Oh, I just Love you two!! Ya'll are SO cute!!! Thanks for the wonderful videos!
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thank you so much!!
@nrs6956
@nrs6956 2 жыл бұрын
Thank you. My best wishes to you both.
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thank you too!
@arl1958
@arl1958 3 жыл бұрын
Just found your channel, love it. My husband and I have talked about renting vs buying many times. People who are against renting always seem to leave out the down payments on ownership. The mortgage interest over 25 years. That is a LOT of money. It's all fine if you live in an area where real estate is appreciating, but that is not the case everywhere. Upkeep, taxes, utilities can add up quickly. Don't like it when people automatically dismiss an idea....try to see the benefits and cons of both sides
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Great comment thank you , at least being open to consider other ideas that you might find actually work. Have a great week Cheers 🍷🍺🌺
@arl1958
@arl1958 3 жыл бұрын
@@ThisIsOurRetirement Have to tell you my mom and sisters were born in Surrey, ( I think that's south of London), mom was a war bride and came over to Canada after the war with my two sisters. Dad was born here ( Calgary) as was I after the war. Anyway, love that you came here and so happy you stayed!
@paulachristie7807
@paulachristie7807 3 жыл бұрын
We are retired and live in a townhouse we paid off before we retired. Where we live in Southern California rent is high and continues to rise, no rent control here, we have a financially secure lifestyle because we own our home.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Sounds fantastic
@eckankar7756
@eckankar7756 3 жыл бұрын
You'lll never be evicted having a paid off mortgage.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
@@eckankar7756 Renting from a corporation who own more than 60 buildings why would they evict good tenants? You can be compulsory purchased if they decide to develop the land your home stands on. Such as mineral rights, you don't own the resources under your property.
@VioletHenning
@VioletHenning 4 жыл бұрын
Loads of money to be saved if you work it right yes. I own my house but i dont have kids to leave it to. I also never got anything from my parents so it sort of balances out. Great video my friends.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Yes home ownership is the way towards wealth, we had kids, do you know how much university is lol. You couldn’t keep your lovely chickens 🐓 in an apartment lol Thank you so much for watching 😀😀🐓🐓
@Autourdumonde1
@Autourdumonde1 4 жыл бұрын
We all thinks renting is wasting money. Thanks for that video.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Thanks for watching! 🙂
@Autourdumonde1
@Autourdumonde1 4 жыл бұрын
@@ThisIsOurRetirement you deserve it
@billclarke3754
@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
@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 🌺🍷🍺
@jamesodell3064
@jamesodell3064 3 жыл бұрын
One thing many people neglect to do when renting is getting a renters insurance policy. Every now and then on the news there is a story about an apartment fire and the families who lost everything. The policies are inexpensive and give you protection against fire, theft and some liability coverage.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
It is compulsory in our building you have to show you have it to be able to rent with them Cheers 🍷🌺🍺
@robertbongiorno4400
@robertbongiorno4400 3 жыл бұрын
My wife and I retired and sold our home of over 30 years to live in an apartment. Before the move, I made a spread-sheet showing potential dividend stock income from the sale of the house, which we owned outright, the local and school taxes saved, the maintenance cost savings, the repair and upgrade cost savings, the insurance and utilities savings, the time savings or additional costs for lawn, trees, gutters, cleaning, snow and leaf removal, etc, etc. If you love doing all that, stay in your house. If you do just a decent job of picking dividend stocks, you will pay your rent down to nothing or even make money. And one more thought...one housing bubble could reduce what your house is worth overnight. If you lose 100K or 200K, how will that make you feel and how many years could it take till property values return?
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Great comment TFS we agree with you , we took early retirement 5 years ago and haven’t looked back . Enjoy your day Cheers 🍷🌺🍺
@lisalee3490
@lisalee3490 3 жыл бұрын
How you manage your finance? Asset diversification? Main dividing stocking? I’m 35 thinking of going dividend way. But still concerned the stock market falls and short on cash flow some point in life…. I want to retire at 50, so 15 yrs to go. Would you share how you manage it over 30 yrs, it’s amazing, thank you
@marcelmed4574
@marcelmed4574 2 жыл бұрын
the opposite is also true, you mentioned the housing bubble could force a reduction in house value...how about a stock market correction, your $30 dividend stock could easily drop to $15, that dividend paying company could one day vanish. I do agree that owning a home does lock up plenty of capital and requires maintenance etc. As you age all this maintenance becomes a burden. It really does come down to working out the numbers but the stock market has major risk/reward consequences that need careful planning.
@suesez2
@suesez2 2 жыл бұрын
Love the apple tree comparison!!
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thank you Sue, we wanted something simple and non financial jargon, glad you enjoyed it.
@chrish9155
@chrish9155 2 жыл бұрын
Nice channel! You are a wise couple!
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thanks Chris, that is very kind of you, have a nice weekend.
@virnsky
@virnsky 4 жыл бұрын
Thanks for making this video as it is very informative. We will also be selling our place when we retire as we are adding it as part of our retirement money.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
TFW that’s a great plan , that’s what we did with selling our home and investing the capital and then getting interest.Hope you are well have a great weekend Cheers 🍷🍺🍁🌺
@terrygelinas4593
@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
@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.
@MrGearoid65
@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
@ThisIsOurRetirement 3 жыл бұрын
Awesome! Thank you! have a great weekend Cheers 🍷🌺🍺
@SharonSaylor-h4q
@SharonSaylor-h4q 5 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
@ThisIsOurRetirement 5 ай бұрын
That’s wonderful 🙂
@quartytypo
@quartytypo 3 жыл бұрын
I'm with ya'll all the way. I'm retired and lease my cars.
@ThisIsOurRetirement
@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 🌺🍷🍺
@christinee8353
@christinee8353 2 жыл бұрын
Having been a landlord, couldn't agree with you more! In Ontario the laws definately support tenants. I believe that unless you can generate an income from your properties many would benefit from renting. In preparation for retirement I downsized from a 4 bedroom home to a duplex that has two moderate sized apartments that can be used as air bnb rentals...one is rented short term (air bnb) always and the other is for me to live in or to be rented (air bnb) while I travel. This is good while I'm retired in my 50's but I may definately cash out and rent as I enter my 60s. One reason to keep an asset like a property, is if you don't need the income it would generate and would simply be losing OAS income due to clawbacks from the income invested.
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Interesting points Christine thanks for sharing , renting definitely works for us as you say if you took early retirement renting a place out would give you cash flow if you needed income before pensions kick in . Cheers 🍷🌺🍺
@DivalerioKitchens
@DivalerioKitchens 3 жыл бұрын
We would probably rent also if we had rent control. It sounds like it’s a win-win. Unfortunately, rent in So. Calif per month is almost as much as our current mortgage payment. It’s worth paying the little bit high mortgage payment to have a garage, yard, no neighbors above or below us and the equity that we are building. Thank you for the information. I love your perspective, knowledge and experience. 6 months to retirement.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
We do know how lucky we are with rent control, it helps a lot of people on modest incomes. On the bright side you get the good weather we would love 😂😂 We wish you a great retirement, we have really enjoyed it so far. Thanks for finding us and watching our video, have a good weekend.
@paulw1966
@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
@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
@lisalee3490 3 жыл бұрын
Buy insurance and spend all your money 😆
@jezanne
@jezanne 3 жыл бұрын
Another down side to leave the house as an estate: the time your children could sell the house they have to assume the cost related to it. It could be quit a burden if it take 18 months of more to sell it.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Great point and the upkeep costs can mount up plus the stress of trying to sell it Thanks for watching have a great weekend Cheers 🍷🇨🇦🍺
@mariofiallos6880
@mariofiallos6880 3 жыл бұрын
Very nice talking about your own experience,I, learned more about what's coming to me,I, wish you happiness.
@honoratam9925
@honoratam9925 2 жыл бұрын
Hello Tina and Norm! Nice to meet you 🙂 Your videos are very interesting and entertaining. I'm starting to consider selling my place and renting an apartment in 5 years. You're right, children don't want to be left with our mess and they don't necessarily want to live in their parents house. Are you in Quebec? I live in Montreal presently. Keep up your great work! 🤗🤗
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thank you so much no we live in Southern Ontario , all we can say we sold and then rented an apartment and never looked back Cheers 🍷🌺🍺
@mariaandbryan
@mariaandbryan 4 жыл бұрын
Yes, we used to think the same, but no more!!! That is correct if you get in a building with a rent stabilizer then the longer you stay there the cheaper it becomes. Now we rent through Airbnb lol.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
That’s funny but the plus is now you get to stay in all different ones in different places hope you are enjoying a nice one in Spain , have you been to the wedding yet ? Enjoy your weekend Cheers 👍🍷🍺🍁
@janefromthecountry1820
@janefromthecountry1820 3 жыл бұрын
I enjoy your channel. You both are such nice people!! Take care and catch ya on the next video. 💞
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thank you so much!
@johnmanque
@johnmanque 3 жыл бұрын
Great informative video. We are seriously considering selling our lake house to become free from the chores and responsibilities. We are snowbirds and we only stay in Canada for 6 months. We also like to travel in our camper for 2 summer months. That leaves us with only 4 months to use the house. We will probably sell as soon as we can get back home. We are currently stuck in another country because of covid. For the children's legacy for a real state properly, we believe that it will be a burden for them since it is located 2 hours away from the city. I paid for 100% of their education and now they are both engineers making a good income and living a good life. I think that their free education and good parenting are the true legacies that we are leaving for them. I also watched your other videos and I think that they are all very good advice. Thanks.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Good morning ☕️TFW sorry to hear you are stuck in another country hope at least it’s a nice one 😱sounds like you have a great plan to sell the Lakehouse and just rent for the other 4 months. Yes we hear you we need to be in Canada 🇨🇦 6 months to retain all the pensions and health care . We have found in renting our appartment full time it’s keeps our rent very low (we have been here 5 years ) the increases are very low 1.8% compared to if we were to rent it today that’s something you might want to consider 🤔 we hope you have a wonderful weekend Cheers 🍷🙂🍺🌺
@jaxwylde2139
@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
@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
@johnballard6725 2 жыл бұрын
Keeping the house and renting out the basement makes a lot if sense.
@MegsCarpentry-lovedogs
@MegsCarpentry-lovedogs 2 жыл бұрын
I can understand many would like to rent, carefree, no repairs sort of living. During the pandemic I certainly appreciated having my parents home that I bought from their Estate because there is always something to do as a project with lots of space, with the tools in the workshop, to have fun. Plus the satisfaction of having renovated as a Do it yourself sort of person is also fun. And the skills you learn, especially with youtube vids to show you how to do repairs and renovations. So, no coup up in an apartment at this end during the pandemic during the Winter or colder months...and one had to get creative to keep the mind busy, not to go "coo coo", and stay safe in the "covid cave!" Also, having more time with the rescued 4 dogs was a joy....can't find a renting place that would allow all those pooches, and have the 8 acres for them to run and be safe on eh 🤔😉. Different strokes for different folks! Love the different ways people chose to live, thanks for another lovely video💯🇨🇦, from Prince Edward Island, Cheers👍
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
At our age when we took early retirement we no longer wanted the unexpected costs and maintenance of a house , so we are thrilled to be renting and free of all that stress, in your case you need space for all those dogs 🐕 so it works for you and that’s wonderful we all have different needs . Have a wonderful weekend Cheers 🍷🌺🍺
@jacktyler7599
@jacktyler7599 3 жыл бұрын
New to your channel. I applaud the discussion this has provoked, which is of good value to everyone even if your choice, resting on rent control constraints, isn't relevant for most.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
This is what we are trying to do, share concepts and dispel fears around retirement, thank you for watching we do appreciate all comments.
@ToddSauve
@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.
@scr4440
@scr4440 4 жыл бұрын
I have had to deal with the same thing in regards to inheriting family homes.. It is an incredible blessing financially but also a large burden as it can lead to family strife as it did in mine.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
You are right it is not as easy as the parents think it is going to be, we had one family house go well and one went sour. That’s why we like the idea of converting your home to cash, live off dividends and leave the capital as a legacy. Thanks so much for watching. Our next video is going to be on dividend investing for retirement.
@scr4440
@scr4440 4 жыл бұрын
@@ThisIsOurRetirement Agreed! That is much simpler and can avoid many potential issues down the line. Thanks - looking forward to it!
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
@@scr4440 Have a great week 🌺
@629990
@629990 3 жыл бұрын
For me it works this way, I'm not retired yet but I paid of my house off 15 years ago. I live in my house mortgage and rent free. Even maintenance and taxes cost me only a small fraction of the cost of paying rent or a mortgage. The house I own free and clear pays me every month. Its for me the least expensive housing option.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thanks for your comment , when we did the numbers for us even though we had no mortgage our living costs were the same propertyTaxes, hydro, heat,maintenance as what the rent was going to be on our 2 bed 2 bath apartment overlooking the Lake just $100 difference so we choose the apartment. Also we don’t need to worry about having someone check the house every 24 hours for insurance, here we just shut the door and go for 1 or 2 months no worries. Have a great weekend Cheers 🌺🌞🍷
@johnballard6725
@johnballard6725 2 жыл бұрын
Agree completely. If you are mortgage free you are saving the cost of renting every.month and if you.look after your property it shouldn't cost too much annually in maintenance.
@Melaniejd902
@Melaniejd902 2 жыл бұрын
For Canadians selling their homes and renting, there is a type of mutual fund investment called a "t-series" that pays you a monthly distribution while working to retain your principle investment. You will see the principle go up and down with the markets like any mutual fund, but the distributions remain consistent. It's like having a rental property - without the headaches! This can be a great solution to help pay that monthly rent cost without depleting the profits from your home. T-series funds are held in non-registered investment accounts which means you are taxed on the interest earned, but it is taxed in a more tax efficient way than your standard RRSP. This can be great for seniors who worry about now paying rent when they no longer had mortgage payments to worry about on a reduced retirement income.
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thanks for sharing this very interesting information Melanie have a wonderful weekend Cheers 🍷🙂🌺
@PeeGeeThirteen
@PeeGeeThirteen 3 жыл бұрын
I own a small condo in Montreal since 2006, a good deal. I'm keeping it as long as I work here (work hard to build an early retirement). But, I will sell it when I retire at age 55 and move to ancestral Portgal and rent. I will chose to rent when I retire so I can be more mobile; you never know what part of the country you like best; sometimes you got to move around to get a picture of what works for you. As far as capital, I agree, investments generate more revenue than Real Estate without the maintenance, property taxes or condo fees.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Sounds like a wonderful plan you have and we wish you well, selling the Condo will give you funds to invest and generate income or the money to travel 🧳 Have a great day Cheers 🙂🍷🍺
@david-lt9wj
@david-lt9wj 3 жыл бұрын
Work out exactly where you want to live....then you don't need to move...and you save a lot of money..
@dianeosgood6594
@dianeosgood6594 2 жыл бұрын
When you are young and have higher income owning a home builds equity and creates financial security over time. Most of our net worth is from our home & my townhome I rent. Stocks in our IRA's have to deal with stock market downturn. Nice you were able to sell your home to finance your retirement. We will continue to own our home as property taxes can go down once over 65. No rent control in most of USA. Your apartment is great value with rent control and being able to sublease.
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Sounds good Diane we are fortunate having rent control in Ontario have a great week Cheers 🍷🌺🙂
@Laila-xb9gs
@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
@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.
@gilliangunstensen2595
@gilliangunstensen2595 Жыл бұрын
I really enjoy your advice,BUT our main problem is finding a GP. No one is willing to take on seniors. We emigrated to Ontario many years ago,and we’re lucky enough to find a GP but when we moved it now means a long drive ( we live in Dundas near Hamilton) and both our GPs are due to retire.😊
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We were in the same situation Gillian not able to get a local doctor, we listen to local news and saw a new practice was going to be built, so kept an eye open for enrolment and got in on the third intake two years later (as new doctors set up in the building), Just keep trying and listen to local news and newspapers. Good luck.
@Sophss-q6h
@Sophss-q6h 2 жыл бұрын
You guys are so charming! I love these videos :)
@ThisIsOurRetirement
@ThisIsOurRetirement 2 жыл бұрын
Thank you so much!! enjoy your weekend Gloria 🍷🌺🌞
@ryly7730
@ryly7730 3 жыл бұрын
Very informative. Thank you. Take care
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Thanks, you too!
@deborahnicholson6206
@deborahnicholson6206 4 жыл бұрын
Thanks for another informative video. I think the Pandemic will make us less "one dimensional" in our thinking. I have always thought I would prefer to own rather than rent. But hearing you speak, I can see the merits of renting. What we would do when the time comes, who knows. A topic that definitely requires a lot of thinking!!! Have a good week, Dxx
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Hi Deborah yes it’s a very interesting topic and a subject that everyone should think about both ways , for us it’s a plus and having in suite laundry, underground parking and a fantastic swimming pool is also a huge plus to our lifestyle. Hope you are staying safe and well have a great weekend Cheers 👍🍷🍺🍁
@milindthakur868
@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
@ThisIsOurRetirement 2 жыл бұрын
Thanks for watching have a great day 🍷 🇮🇳 🇨🇦🌻🍺
@sudburydrone466
@sudburydrone466 Жыл бұрын
👍👍✌️ Yes most older people will have a lot stuff built up in their homes after a long period of time. Like mine.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We didn’t downsize enough when we sold our home and rented our apartment Cheers 🙂🌺☕️
@PlanetImo
@PlanetImo 4 жыл бұрын
It took me a good year from putting my old house on the market to moving into my current home.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
We were about 18 months from start to finish pretty stressful time , glad it’s over and renting our great new place 🍷👍🍺
@andreal2625
@andreal2625 3 жыл бұрын
I was lucky to live in an area with high demand so the house sold in 8 days with a 17 day escrow. Now thinking about buying in Cape Cod but you’ve got me thinking.
@2legit2Kwit
@2legit2Kwit 4 жыл бұрын
Great analogy with the orchard! Love it
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Glad you liked it! TFW hope you are well have a great week Cheers 🍷👍🍺🍁
@CogenMan3
@CogenMan3 3 жыл бұрын
As usual you make perfect sense.
@ThisIsOurRetirement
@ThisIsOurRetirement 3 жыл бұрын
Glad you think so! TFW and have a wonderful day Cheers 🍺🍷🌞
@AdventureEncounters
@AdventureEncounters 4 жыл бұрын
👋👋👋 Just stopping by and showing some support 👍 Full watch for you friends....see you soon! 👋 Ashley, Nate and Blake from The Adventure Encounters
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Thank you so much 😊hope you are all well have a great week Cheers 🍷👍🍺🍁
@milloolee
@milloolee 4 жыл бұрын
Thank you so much for sharing your knowledge and for making these videos. They give me so much peace and help so much with easing anxiety about retiring.
@ThisIsOurRetirement
@ThisIsOurRetirement 4 жыл бұрын
Thank you for a great comment and for watching our video, we do hope you have a wonderful retirement.
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