WE SOLD OUR HOME & here’s why 💔

[@quinnquest-j7k]

I have one advice for you.. dont give real estate advice! 😃

[@IamSahilVerma]

Why ?

[@preetikapil5141]

@@IamSahilVermathe math he did sucks! 😊

[@amitshukla77]

Hello. Doesn’t make sense to pay that hefty realtor fees especially when you paid an additional amount for staging as well. Realtor commission should be capped at 1% max for each side. That will be more aligned with Canada’s job market remunerations and will not flood the market with unnecessary number of realtors

[@vishaldube425]

I always thought the realtor fee includes the service of staging and marketing.

[@arundhatighosh8551]

Absolutely!! And the hard earned money of the buyer’s and seller’s are simply swept off by those realtors

[@growwithnav]

You don’t have to use them. A home can be listed by the buyer directly 🙌 my realtor did pay me back for the staging. Marketing was included anyways.

[@amitshukla77]

Hello Nav, if your realtor paid the staging fees back then why you didn’t exclude it your calculations? Lack of transparency and biased opinions favouring realtor community in this video erodes the trust of your viewers. Based on your response it appears that you’re trying to brush this ‘unnecessary realtor fees’ issue under the carpet. The solution to high realtors fees is not to avail this service but to align the fees with the service and value offered. It’s true for any business but it seems realtors in Canada would just ignore it until there’s a mass movement challenging the fees. Platforms like WAHI are gaining popularity and times running out for 2-2.5% commision charging realtors. @ All especially first time home buyers, critically assess the value your realtor offers and start your discussion with the realtor by upfront capping their fees to max 1%

[@parthppatel28]

I don't know why Realtors should be paid as a percentage of sell price especially for the buyers. This needs to change

[@shivalitandon4803]

Hey Simran so good to see you back 🎉 you’re so vibrant.. many many congratulations to both of you.. ❤

[@growwithnav]

Thank you so much 😀

[@kvkiyer1977]

BS. How can you say staged home will give better price. I bought vacant home and sold staged home. Honestly only reason a house sells for a particular price is the seller maintained a clean house and buyer liked it. Everything else is hype buy the realtors 😂😂

[@harshadsonaje]

Congratulations to your family for the smooth transaction and transition to a new house. Buying first and selling later was a HUGE risk and I am glad things worked out well for you guys (but please don't take the risk again). Did you guys move out of the Kitchener waterloo area? Considering that the house purchase is based on a growing family and also to provide accommodation for the parents of both partners is very refreshing. In my opinion, you should have included the interest paid to the bank also as a part of the overall cost to get the right differential. This video is definitely an eye-opener for people who think flipping a house is just the difference between the buying and selling costs. So many variables are at play. Also if you can make a video surrounding the mortgage breakage penalty in your case that will be really helpful.

[@growwithnav]

Thanks for the feedback 🙌

[@vibhutyagi1586]

Interest payment for one year also needs to be added, out of pocket expense

[@arundhatighosh8551]

Adding all the overhead expenses both on the left and right side on top of the purchase price, simply leaves the margin of profit to be approximately 82k cad, and we also need to consider the interest paid on the mortgage..so the net profit/return will still go down further..

[@growwithnav]

100% you should. But like I said, I did not buy a primary home to make a profit. It’s an appreciating liability ;)

[@Anurag-i6t]

Why include interest as an expense when owning a home? After all, you’d still need a roof over your head and would be paying rent if you were renting instead.

[@growwithnav]

Exactly. But many people overspend on their home purchase - we did not. Our rent was $2100 condo and we replaced it with this townhouse in which $1000 was principal and another $2700 on other expenses incl interest. All this math is great but it doesn’t matter. I do not want to rent forever and would like to be mortgage / rent free in the next 18 years. So I have to buy a home and make more money to pay it off sooner.

[@AtulSharma-vc2tg]

@@growwithnavagain your numbers dont make sense ..1k principal amounts to 12k yearly. Your mortgage at start was around 524k and when you closed it was 516k that means only 8k principal paid. Did you sell it in 8 months?

[@shalakashelly]

Absolutely loved your transparency and truthfulness! No bullshit about disclosing the prices, location etc. because of nazar and crap. This is why people find it easy to put in their trust in you. Love you Potatoes 😊❤

[@growwithnav]

Thank you 🙌🙌

[@preetikapil5141]

This is realtor math. This is so wrong in so many levels. The biggest cost of owning a home is the opportunity cost. What is the expected return you are missing by tying up all the cost you spent on home for a longer duration. FHSA will increase the opportunity cost as well. You can subtract the rent you would have paid from the opportunity cost. If you add opportunity cost, plus the interest cost subtract the expected rent you will see that this is, financially, a terrible deal.

[@prshnthp]

lol you just managed to breakeven considering all the other costs and time you put in.. this is barely a return on your house buried in fees.. as a real estate agent full time you got lucky after going all this trouble for 4 yrs barely using the house.. your staging folks and realtor made a bigger profit 😂😂 for the work they put in

[@vishaldube425]

Agreed.

[@growwithnav]

Buying a primary home for profit is stupid :)

[@prshnthp]

@@growwithnav Clearly you should not be giving advice on real estate if this is how you do math ..haha if you didnt care about profit.. a stupid thumbnail! Why did you sell your primary home? You just managed to escape a bad situation.. and all your video was about how smart you are.. and you think the audience stupid

[@umairmahmood1]

​@growwithnav Then why are you potraying as if you made a good ROI in this house. 😂

[@quinnquest-j7k]

@@growwithnav you started this whole thing talking about profits.. and it was your intention that probably didnt work out ..why mislead ?

[@ssingh6768]

Nice to see you back Simran.. reminded of potato talkies days

[@modnachunni]

fake posts.....kitchener is dead place to appreciate values....all r costs

[@worldwidebroadcasting5787]

The harsh truth is that end of the day all the efforts seem to be zero at the end of the day. Why take so much burden just for creating a living space in the old age? You can easily live in India and have alot of savings on the side to enjoy instead of all this headache. Property will become old after 14 years. Your own children will not stay in the same house because it will require thousands of repairs and will be old fashion within the 20 years span. Real estate is a scam.

[@kavir1211]

And what if you have included the interest cost in your calculation? I believe it would be around 25-30K for the 1 year unless your mortgage started 4 years ago. You would have to factor opportunity cost of the your 131K downpayment, which would be around 6-7K if you had that money in a good mutual fund or saving account. Factoring this, your gross profit should be reduced by around 50K so your ROR per year is more like 6-7% and then you have to add all the cost for your time and energy to do all this research and work. Obviously like you mentioned, it's not an investment as it is a primary home but if it was an investment, this would be a poor return.

[@growwithnav]

For sure. Though, I would have been paying rent too if I did not have the mortgage.

[@preetikapil5141]

Opportunity costs + interest cost - expected rent is the correct calculation.

[@ramangrewalll]

You should move to the US, if you really wanna grow your money. Ppl do so much calculations in Canada.

[@modnachunni]

they denied. entry there

[@protech2123]

I think you also have to include the 1 year you occupied the house in your calculations (unless you already did that in the mortgage payment due/left over). Meaning if you paid X amount every month for mortgage payment, but you also saved Y amount in terms of rent. If rent in that neighbourhood for a similar size apartment is (lets's say 2000 per month), then you saved 2000 x 12 = 24000 for the year you lived there. You can subtract that from the mortgage payment you paid on the apartment for that year.

[@growwithnav]

Too much maths :) I did not buy a home to make a return. I bought it to make memories and live mortgage / rent free on retirement.

[@kavir1211]

@@growwithnav Sorry but then what is point for spending so much time on the calculation if you don't do it correctly and then simply say whatever the result, it doesn't matter? Was it just to gather views for your video?

[@jayeshamiglani3816]

I loved the way simran just came in....missed you simran

[@growwithnav]

Thank you so much 😀

[@dhronpatel9158]

And additionally paying rent since 2020, not worth it as flipping. But for sure for family and memories 💯

[@growwithnav]

🙌

[@VivekGoel-k5k]

Sorry to say but strategy to buy first and sell later is very risky in buyer's market. This is where I loose confidence on your realtor partner. But I appreciate your transparency.

[@VivekGoel-k5k]

Sorry to say but strategy to buy first and sell later is very riskydd in buyer's market. This is where I loose confidence on your realtor partner. But I appreciate your transparency.

[@growwithnav]

It was our decision :) and went against our realtor’s recommendation. Was ok keeping the house if we would have not sold for over $800K.

[@Lisahay-y5m]

I sold and invested in the SP500 few years ago best decision. The returns pays my rent and make 6 figures each year better then real estate. SP500 is up 30 percent this year alone.

[@growwithnav]

Love it!!

[@alokpatel404]

I remember in one of the video you made around same time you said it is Sellers market. And later after 6 to 8 month we will see Buyers Market. Now, I am quite confused whether during the summer when there were rate cuts, it was seller or buyers? If it was buyers then when was the sellers market?

[@tanvirkaur6666]

Congratulations, good to see simran back❤️

[@growwithnav]

Thank you so much 😀

[@anillalani]

Sirji, Sabse pehle to aap dono ko baho bahot Congratulations.!!!, bahot ache se bataya apne numbers ke sath. And bilkul sahi baat he, all these numbers dont matter when you are buying your primary home where you will be making lots of memories. we have also become a new home owners recently, so we can relate to that feeling. Bilkul Sehmat he aapse. Agar aap apne naye ghar ke bareme bhi Home Tour video bana rahe he future me to intezar rahega uska.!!

[@growwithnav]

Thank you 🙌🙌

[@ktsinghsehra3621]

Lots of Congratulations to both of you for all new happenings. Stay Blessed. Also add some Hindi or Punjabi in your talks to have more connect to your native land always. Wish to see your next videos on new house and upcoming events 🎉

[@growwithnav]

🙌🙌

[@vancouverdiaries738]

Hi Nav, Is this SCAM here?? Please Clarify

[@canadianjatti]

My fav Simran!! Congratulations! have been following for a long time and miss seeing you BOTH but i know why the change was made and still learning lots from you nav.

[@growwithnav]

Thank you so much 😊

[@k_m_d_79]

I have one question: Why did you not add the interest you paid since the purchase date to the total cost? If you paid mortgage for 3 years, the interest component will be part of your expense. I think the return of approximately 12% you considered doesn't include that interest expense?

[@Anurag-i6t]

Why include interest as an expense when owning a home? After all, you’d still need a roof over your head and would be paying rent if you were renting instead.

[@growwithnav]

I was paying rent too..

[@anildaita]

Great video once again. Congratulations on the family way. I’m a little surprised that you chose to sell this house instead of renting the upper and lower unit, assuming the rent breaks even the mortgage. You claim to have built a million $ business, so I’m sure getting that down payment for new home should not really be a hassle.

[@growwithnav]

Thank you. Wasn’t breaking even. And I don’t like negative cashflow - taking money out of your company has tax implications. And we had carpet in the house, which is hard to maintain for tenants. You don’t have to believe me :) hopefully the videos help.

[@bepositive370]

Beautiful video guys. I will definately use Arko for my home in Hamilton as well.❤

[@growwithnav]

🙌🙌

[@khalid200313]

Learning a lot from you guys, keep up the good work and congrats!!!

[@growwithnav]

🙌🙌

[@AtulSharma-vc2tg]

Do your own research!

[@prxpi]

Bruh! You need to check you calculations over 4 years.. It looks like your realtor, staging and Canadian government made the 191K 😀😀😀

[@manmohansingh-mc1mu]

Hey congratulations to both of you for becoming parents. Can you also make some videos regarding pregnancy in canada ( whatever you would be sharing would be very informative for newcomers like us).

[@growwithnav]

Sure 😊 do follow on Instagram for these updates.

[@TheHoneyzap]

Guys, watching your video made me emotional because our situation, reason to move is so similar to yours. We are moving to our precon house mid next year. I do most analysis for the financial decisions in our household, my husband just holds the voting power 😂. Thank you for all the information, this information is all i needed. I am seriously contemplating reaching out to you next year for your consult. Congratulations on the baby, new life ahead. 🎉

[@growwithnav]

Thank you!! Congratulations on your home 🏡

[@memphistnliving]

Nice share Realtor fees between 4 to 5 percent for this price range looks reasonable I agree with you property taxes home insurance mortgage interest will tally with rent for the year Also tax benefits on mortgage interest makes it cheaper compared to rental I think it’s high time to release your new financial plan to retire by 57 once again with kids college and additional expenses included in there😂 Good share as always nav and simran

[@growwithnav]

Thank you 🙌

[@MapleCanada-w6g]

Total BS talk. Can’t understand what he was trying to say at the end of the video

[@Vikram-x2l]

Bcoz that's his shit business 😅

[@kvkiyer1977]

Seems 2% brokerage that he mentioned was his own earnings as he himself runs a brokerage firm

[@kvkiyer1977]

In real estate, only people who makes free money is realtors just for doing nothing 😂😂 I am saying this with experience after buying and selling 3 houses in Canada and USA 😝😝

[@kavir1211]

LOL me too. He spent the entire video to talk about the numbers and then at the end, he came with a bogus statement that all numbers should be ignored as he wants to create memories (as memories cannot be created in a townhouse? lol)

[@MapleCanada-w6g]

@ he is taking commission on his own house full of memories. World end is near 🤣🤣

[@debashishpadhi9977]

You only learn and grow with each experience!! Win Win

[@growwithnav]

🙌🙌

[@jayeshamiglani3816]

apart from staging you might have invested in music video as well? Is 2000 is inclusive of it?

[@growwithnav]

Yes.. that was covered by the realtor.

[@SanskritiAgrawal__sans]

Good to see Simran after so many days, please appear more in the videos, you two together make potato talkies so lovable.

[@growwithnav]

🙌🙌

[@anoopgeorge4351]

So at the end of the day you got lots of memories but no profit?

[@harveyspectre-i3r]

Your personal decisions are your own. But looking at your last slide you seem to have conveniently left out many other costs and explained a simple calculation in a way that makes no sense. What about taxes? land transfer etc It seems like you made no profit over 4 years as you claim ROI 13% in the video. You need to check your calculations with the big picture before you share content like this for your own wellness and others 🤣At best you barely scrapped thru on this ordeal. Anyways all the best

[@growwithnav]

I included Land transfer tax in closing costs Harvey Spector. And there is no capital gain tax on primary home sale. Big fan!!

[@lakshmipremanand9491]

Congratulations to both you - first as you are going to be parents and 2nd for ur new house 🎉

[@naturelover8245]

Many Congratulations Nav !

[@growwithnav]

🙌🙌

[@BrijeshPatel-ww3hn]

Hii nav,very informative video,can you share me which district you moved from kitchner?I am looking for my first home and i am curious to know where you moved?Thanks in advance.

[@growwithnav]

Huron Park to Doon South

[@Lj22]

Congratulations on the incoming baby. Where did you move to which neighborhood that has 7.5 school ratings.

[@growwithnav]

Doon south

[@ankurperiwal9704]

Appreciate the detailed vid as always!

[@ChandaBhansali]

Cool, Many Congratulations 🎊

[@growwithnav]

Thanks! 😃

[@gv3360]

Manpreet you look nice in this hair style.look totally diffrent.❤❤❤

[@nitinpuri90]

These are the people against student in previous videos but they are doing good and i watch their videos 😅 He is good😊

[@mohammedahmed8276]

Saw both of you in this video after a long time

[@jchong416]

Wow kitchener is not cheap anymore

[@abundancepositive]

Keep up the great work Simran and Navjot ❤

[@ruchigera2693]

Congratulations 🎊🎉🍾

[@growwithnav]

Thank you!!

[@SanskritiAgrawal__sans]

Do we get the tour of your new house? Please ❤

[@growwithnav]

yes - in a couple of weeks :) more around renovations and before / after

[@Animal1may]

Why did u sold it ? U mention before that u r earning $500k plus ur wife earning … based on that u could easily keep this little 1st home as ur memories and investments…

[@growwithnav]

Carpet in the home Not cashflow positive

[@Animal1may]

@ well it’s ur choice based on ur circumstances. I would hv sold condo in Kitchener and kept this townhome

[@MitchelDSouza]

Hi Nav, Congratulations to you and Simran on the wonderful news🎉 For the pre con mortgage, did it start in 2020 or did you have to make the net 690k ish payment when you moved in? For my personal calculations, from a pure numbers point of view, i like to add the mortgage interest and rent till move in. Basically all costs. I am aware high chances it'll be negative for primary homes specially in the first ten years.

[@growwithnav]

Thank you Always negative in the short run. Our mortgage payment started in 2023 when we got possession. I would suggest to not nerd out on numbers. Buying a home and paying it off is part of my retirement plan. Which makes it worth it

[@MitchelDSouza]

@growwithnav Got it, Thanks. I just like numbers and calculations.. but of course, fully realize that real life doesn't go according to plan.

[@nehamehra2501]

Hey!! Thanks for sharing the numbers. Could you please also tell in which area you brought the home. As we are also looking for a good school area. Thanks. Congratulations once again 🎉

[@growwithnav]

Doon South. You can book a call from the description and my team can help further.

[@richasrivastav4432]

Did you move within Kitchener?

[@growwithnav]

Yes we did. To Doon South

[@syedsufiyanahmed2209]

Nice to see Simran back! great vid.

[@growwithnav]

Glad you liked it!

[@AtulSharma-vc2tg]

Dude Sufiyan ..do something better in life..focus on the video and what was he explaining rather than Simran..Nothing against her but seriously man get a life lol😂

[@syedsufiyanahmed2209]

@@AtulSharma-vc2tg I've met them personally and I know them personally. I've followed their journey since potato talkies. Lol someone seems butthurt 😂 Spread love not hate. You seem to be having a mid life crisis 😂 funny man.

[@AtulSharma-vc2tg]

@ dude grow up..act like a middle aged man that you are. Take it easy no need to be serious! These guys are a bunch of morons spreading hype and lying all around. Its true birds of same feather flock together. Seems like quite a time hand in hand for you?.

[@syedsufiyanahmed2209]

Thanks Dad😂

[@Vipul.Canada]

so how much was land trasfer tax. $5000?

[@growwithnav]

I will have to check. We paid about $10,000 in closing cost is what I remember.

[@HarjiSidhu8]

Great Video, Loved it 😍

[@growwithnav]

Thank you so much 😁

[@litondas3279]

How to contact you?

[@growwithnav]

You can book a call from the link in the bio.