300k CAD, Invest in Home or Wait, Help!

Amazon bhajiwala
Oct 14, 2018 18 Comments

TC: 200 CAD, YOE - 3.5

Saved approximately, 300k CAD so far, =

Breakdown:-

120K invested in FANG stocks,
45k Invested in Vanguard High Growth / High Risk mutual funds
Rest is Cash ( I know - big cash to offset high risk investment?? )

Married, 31, Planning first kid next year, sole earner, spouse working on side gigs but no income.

I have offers from US employer/s, TC will reach, ~250k USD

My goal is to buy house probably before our first child is born.

I am not sure if buying home ( mostly Burnaby, Richmond in British Columbia, max- 650k CAD ) is good decision at this point, may be I should go to US, make more money and buy Home with more Cash in future. I am not comfortable having more than 300k in mortgage.

Any thoughts, suggestions ? Appreciate any thoughtful comments !!!

Note - I am in process of consulting Financial Advisor, curious to know community opinions.

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TOP 18 Comments
  • Microsoft AlMonyGone
    Canadian citizen already? Or just have the pr?
    Regardless, market is cooling in vancouver area too and interest rates are increasing in vancouver on 24th oct. May be not a good time to buy.

    Btw what bhaji do you sell? 😝
    Oct 14, 2018 5
    • Amazon bhajiwala
      OP
      Only PR, haha, all sort of Bhajis

      For mortgage, do you prefer long term loan? - 25 -30 years ? Any recommended banks? Expected interest rate ?
      Oct 14, 2018
    • Microsoft AlMonyGone
      Assuming u r indian, get canadian citizenship get oci card and then move to us. Should not take a lot of time since u already have been in canada for 3.5 years.
      Regarding loan, i think max u can do is 10 years fixed in canada with 25 years amortization? I would do 5 year variable or fixed with 25 year amortization as thats where u get the minimum interest rate and min mortgage payments. Also on an avg people stay just 7 years in a home.
      Oct 14, 2018
    • Amazon bhajiwala
      OP
      Thanks
      Oct 14, 2018
    • Rockwell Collins cscY72
      How long did it take for Canadian PR? Looks like it's way quicker than USA PR
      Oct 14, 2018
    • Amazon bhajiwala
      OP
      Express entry, 6 months, also correction for Microsoft, I only completed 1.5 year on PR
      Oct 14, 2018
  • Indeed / Other
    TC1Billi

    Indeed Other

    PRE
    Lyft
    TC1Billimore
    120k in fang and 45 in rest lol. First off how much cash? Dude you need to diversify way more than just all fang. That’s so risky. (Assuming 120k is a lot to you) lower your fang % and buy more balanced etfs. Man y’all are greedy roflz. Hogs always get slaughtered 🐷. If I was you I’d wait a little to buy a house tbh if the market rises you’d miss out a lot less vs the exposure/risk buying at peak interest/pricing. Is your cash the down?
    Oct 14, 2018 3
    • Amazon bhajiwala
      OP
      Hmm, 120k is lot lot, keeps me awake!!, was buying through thin and thick, didn’t buy all fang stocks at once, didn’t get last question ?
      Oct 14, 2018
    • Indeed / Other
      TC1Billi

      Indeed Other

      PRE
      Lyft
      TC1Billimore
      Ah I meant is all the cash your holding for down payment for house? I mean fang isn’t bad to hold but you should certainly pull some of that into safer etfs imho. Like voog or voo vanguards s&p and s&p growth. Vanguard large cap growth/value small cap growth/value. Honestly you should really switch from 120k to etfs (not all Aggro etfs) and 45k fang. Again just my opinion not telling you what to do 😬
      Oct 14, 2018
    • Amazon bhajiwala
      OP
      Got it, yeah cash for house or side gig shop
      Oct 14, 2018
  • Facebook / Eng
    orgtfo

    Facebook Eng

    PRE
    Amazon
    orgtfomore
    holding that much cash is crazy

    huge opportunity cost
    Oct 14, 2018 2
    • Amazon bhajiwala
      OP
      True, if house plan is postponed, I am putting more in Bond ETFs
      Oct 14, 2018
    • Amazon bhajiwala
      OP
      Also, Cmon Facebook, open office in Vancouver !!!
      Oct 14, 2018
  • Dropbox dropper
    300k CAD at 31 is pretty good.
    And you are working at AMZN which still has a great upside with your RSUs. What you have now, is enough to have a good size downpayment for a 650k house. And you are all set for life, really. For a nice work life balance and focus of growing your family with kid.
    Do you want that,?
    Or do you want to enter US rat race and grow your career ?
    If you need Visa, green card, that's another dimension to consider.
    Good choices to have.
    In your position, I would stay back... and enjoy life
    Oct 14, 2018 3
    • Amazon bhajiwala
      OP
      Been there in my 20s, I know it’s hard, I am barely saving any money in Canada, I am thinking, even if I work for 2 years in US, I can save a lot and reduce loan amount.
      Oct 14, 2018
    • Amazon razorz
      How are you hardly saving anything?200 k cad is huge $$$ in Canada
      Oct 14, 2018
    • Amazon bhajiwala
      OP
      My yearly saving rate is 30K - 35K, 200 Cad is considering RSUs, major part of RSUs will vest in future
      Oct 14, 2018
  • Amazon / Eng Qwertyplat
    Buy a house when u feel comfortable
    Oct 14, 2018 0

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