TM3 Home Owners Association

[Pacman]

I wish I stuck with a variable rate when I got the new house.

You are assuming the bank has lowered their prime.

[Aitch]

You are assuming the bank has lowered their prime.

Exactly. There's a bit of a frenzy in Toronto and Vancouver as buyers assume rates will stay low forever. Which is funny given how Calgary's market has completely reversed into downturn mode in less than 2 months.

[loki]

You are assuming the bank has lowered their prime.

Prime rate just went down. My mortgage rate just went down effective Jan. 28, 2015

Been on a variable rate for the last 6 years and so far so good


edit: though it's never a good sign when prime rate starts going down

[Flagrum_3]

In April I would have owned my house for 6 years

In those 6 years I have reduced my mortgage from 25 years to just over 9 years

This is why Mrs. Loki does the finances

That's pretty awesome! Mrs. Loki is a smart person ; )...I'm desperately trying to get my mortgage paid off within 6 years, hopefully.

Keep it up tho, cuz if you look at the trends for the last 30+ years, we are well overdo for a rate adjustment. Most likely well upward. If it happens, it could see rates atleast double, sending alot people into a frenzy...I've seen it happen before 'twice' so it's not fiction!


_3

[Squisher]

Variable has traditionally almost always worked out better and has most definetly outperformed fixed rates in more recent years.

[rajin929]

word, lowered prime with and even lower variable mortage rate + dumped money on the principal = win.
once i'm we're done with kids and daycare payments, even more cheddah going down on the principal.

[loki]

Variable has traditionally almost always worked out better and has most definetly outperformed fixed rates in more recent years.

people like to know something is fixed, so they can sleep better at night

I say roll with it, and what will is will is. I sleep just fine.

[loki]

word, lowered prime with and even lower variable mortage rate + dumped money on the principal = win.
once i'm we're done with kids and daycare payments, even more cheddah going down on the principal.

kids are more of a money pit than a car....

worth it tho

[SirWanker]

I wish I stuck with a variable rate when I got the new house.

It could have went either way. You could re-finance if you can stomach the mortgage cancellation fee.

Exactly. There's a bit of a frenzy in Toronto and Vancouver as buyers assume rates will stay low forever. Which is funny given how Calgary's market has completely reversed into downturn mode in less than 2 months.

With the current price of crude....not really a surprise

That's pretty awesome! Mrs. Loki is a smart person ; )...I'm desperately trying to get my mortgage paid off within 6 years, hopefully.
Keep it up tho, cuz if you look at the trends for the last 30+ years, we are well overdo for a rate adjustment. Most likely well upward. If it happens, it could see rates atleast double, sending alot people into a frenzy...I've seen it happen before 'twice' so it's not fiction!
_3

I vaguely recall the mortgage rates as being 20% back in the early 80s....lean times indeed.

[Squisher]

people like to know something is fixed, so they can sleep better at night

I say roll with it, and what will is will is. I sleep just fine.

I've played the debt game quit a bit over the years, was up to three homes, now two. having a rental is a big advantage imo and I highly recommend it as a form of investment. It's allowed me to end up in a home/acreage I'd have never been able to afford otherwise.

My wife handles the banking/mortgages, if I did it myself I might not be able to sleep.

[Soyabean]

We just got a place and are facing this dilemma. Not sure to go with variable vs fixed. in the past years variable has saved consumers more than fixed but with drop in prime and the low Canadian dollar, I dont know how the economy will do in the new couple of years. Im leaning towards fixed for peace of mind at the moment but the advisors are recommending variable. I'm also not one to take risks....

[Flagrum_3]

It could have went either way. You could re-finance if you can stomach the mortgage cancellation fee.



With the current price of crude....not really a surprise



I vaguely recall the mortgage rates as being 20% back in the early 80s....lean times indeed.

Yeah its funny, rates stayed steady for like over 25 years through the 60s 70s, (7-9%) then all of a sudden BANG, 18% interest rates, I believe it was 1981-2...Thousands just walked away from their homes, locking the doors behind them!! A sharp spike also occurred in the late 80's (1989 I believe) and somewhat late 90s but not as severe. Economists said it was a seven year cycle but the trend has been downward ever since, hence the predictions by many economists that we are well overdo for a substantial increase....Hope their wrong though.

_3

[loki]

Yeah its funny, rates stayed steady for like over 25 years through the 60s 70s, (7-9%) then all of a sudden BANG, 18% interest rates, I believe it was 1981-2...Thousands just walked away from their homes, locking the doors behind them!! A sharp spike also occurred in the late 80's (1989 I believe) and somewhat late 90s but not as severe. Economists said it was a seven year cycle but the trend has been downward ever since, hence the predictions by many economists that we are well overdo for a substantial increase....Hope their wrong though.

_3

If mortgage rates all of a sudden jumped to 18% tomorrow, I would probably just pay off the mortgage on my home.

What's scary to me is the price of the houses I would like to get into next. I mean the value of my house has gone up considerable in the last 6 years, but so has the price of the houses I'm eyeing, but even more so.

What would have cost 900 grand 6 year ago is now in the $1.4M range....I might be in a Mazda forever!! haha

[Flagrum_3]

If mortgage rates all of a sudden jumped to 18% tomorrow, I would probably just pay off the mortgage on my home.

What's scary to me is the price of the houses I would like to get into next. I mean the value of my house has gone up considerable in the last 6 years, but so has the price of the houses I'm eyeing, but even more so.

What would have cost 900 grand 6 year ago is now in the $1.4M range....I might be in a Mazda forever!! haha

Well must be nice to be in the position to be able to pay off the mortgage just like that lol....I dream!

But that's the way it goes on the house prices. You think your getting ahead and then you look around...lol...Just to think in 1983 you could have bought a detached two story home in the beaches (right on the board-walk) for $18 grand...times have changed.

Nothing wrong with the Mazda for a while. I'll try to keep mine till the mortgage is paid, then C7 time.

_3

[rajin929]

looking at further finishing my garage in the spring by cleaning up the drywall tape and giving the walls/ceiling a nice coat of paint, improving the lighting and adding storage shelves/cabinets. My new place is a little over a year old, so want to do it once and keep it clean for years to come.

but for the floor, I know when they pour the floor the concrete shrinks as it dries and leaves a gap between the floor and the foundation wall.

is it ok to fill this gap? if so, any specific method?

has anyone gotten epoxy flooring done as well?

[m_bisson]

looking at further finishing my garage in the spring by cleaning up the drywall tape and giving the walls/ceiling a nice coat of paint, improving the lighting and adding storage shelves/cabinets. My new place is a little over a year old, so want to do it once and keep it clean for years to come.

but for the floor, I know when they pour the floor the concrete shrinks as it dries and leaves a gap between the floor and the foundation wall.

is it ok to fill this gap? if so, any specific method?

has anyone gotten epoxy flooring done as well?

Caulk it with a good quality caulk. Expect to pay at least $10 a tube/sausage.

Do not epoxy the floor. A good epoxy is several hundred dollars per unit. It will not allow moisture through and will bubble up over time until it fails. I'd recommend giving the floor a thorough cleaning/mopping, and then just sealing it with a clear sealer.

[loki]

Caulk it with a good quality caulk. Expect to pay at least $10 a tube/sausage.

Do not epoxy the floor. A good epoxy is several hundred dollars per unit. It will not allow moisture through and will bubble up over time until it fails. I'd recommend giving the floor a thorough cleaning/mopping, and then just sealing it with a clear sealer.

This ^

Any membrane that doesn't allow moisture to pass through is a no no for slabs on grade

[rajin929]

thanks guys, appreciated!

was on the fence about the epoxy as I got some high-level quotes of around $1600-$2000 for a 20x20 double garage
this involved them grinding down the slab so it's level, filling in any hairline cracks and doing the epoxy.
i certainly don't want to fork over that kinda cash for it to only end up last a few years before falling apart when sealing would be the better alternative

[m_bisson]

That's pretty cheap.

I remember a couple years ago I was working on a job where the epoxy was close to $800 a unit. Worked out to like 30 bucks a square foot.

[Default User]

You might as well do granite or marble flooring for that price LOL

[coppermica]

how do i keep the the neighbor's destructive kids off my property??? this past summer i caught the neighbors son trying to get into mine and my fiance's car. when i came outside to confront him he ran inside to mommy , so i explained to her what i caught him doing . she apologized and said he would never do anything like that. i then politely asked her if she could please keep he children of my property and away from the cars , she smiled and said thats not a problem. about a month later i caught her daughter sitting on the hood of my car playing with friends. i was pissed , once agian i spoke to the mother and asked her to keep her kids off my property and away from the cars . she said sorry and said sure no problem. now last week i caught her son sliding down the snow mound infront of my house into the side of my car while the mother was standing there watching , the little bastard left scratches in the bumper and door. once again i spoke to the mother asked her why she lets them play there after i repeatedly asked her not too. she said sorry they were just playing i even showed her the scratches her son made . she said that i was lying and i was just causing problems. how do i deal with this chick and her little bastards. i thought that i was doing the right thing by talking to her and asking her politely to keep her kids on her property. what are my options ? call the police , or burn her house down? lol. my fiance doesnt want me doing anything that will get me introuble but im running out of patients. please help

[SomeGuy]

how do i keep the the neighbor's destructive kids off my property??? this past summer i caught the neighbors son trying to get into mine and my fiance's car. when i came outside to confront him he ran inside to mommy , so i explained to her what i caught him doing . she apologized and said he would never do anything like that. i then politely asked her if she could please keep he children of my property and away from the cars , she smiled and said thats not a problem. about a month later i caught her daughter sitting on the hood of my car playing with friends. i was pissed , once agian i spoke to the mother and asked her to keep her kids off my property and away from the cars . she said sorry and said sure no problem. now last week i caught her son sliding down the snow mound infront of my house into the side of my car while the mother was standing there watching , the little bastard left scratches in the bumper and door. once again i spoke to the mother asked her why she lets them play there after i repeatedly asked her not too. she said sorry they were just playing i even showed her the scratches her son made . she said that i was lying and i was just causing problems. how do i deal with this chick and her little bastards. i thought that i was doing the right thing by talking to her and asking her politely to keep her kids on her property. what are my options ? call the police , or burn her house down? lol. my fiance doesnt want me doing anything that will get me introuble but im running out of patients. please help

You've done the right things so far, most people have trouble talking to neighbours about that sort of stuff. Setup a camera, record them trespassing/vandalizing your property, tell her you have video evidence and this is her last warning or you'll take them to court.

Otherwise, just go outside and kick the kids in the face.

[Canadianbacon]

Talk to the kids yourself, i dont think the mother is making the point clear enough not to mess with your shit

[staax]

Get evidence.

A little while ago I posted about a kid who ran into my car with a bike... Cracked the front bumper.

Originally didn't do anything about it since I didn't know the kid/parents.

About a month after that I saw the same kid on his bike while I was out for a run and saw which house we was from. I approached the door and spoke to the mother and basically said that her son crashed into my car and I would ask if he could be a little bit more careful. I did not ask for her to compensate me or pay for repairs in anyway, but she immediately assumed that.

She told me there was no way he did and told me I was making stuff up... Quickly followed by slamming the door in my face and that was that... Didn't pursue it any further.

I've now invested in a dash cam.

[coppermica]

i took pictures of the son trying to get into the cars and scratches from them playing,i showed her and told her i would like her to pay to have them fixed . she gives me the sob story of how she is barely making ends meat raising 2 kids by herself and she cant afford to pay to have it fixed. i know i could just go to small claims court or let my insurance company take care of it , i figured kicking her while she is down would just make the situation worse. i fear she would become bitter towards us and start damaging our property with her kids lol.