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I bought a home in Woodstock, Ontario for about 525k in 2019. Last year comparables sold for almost $1M. And now they’re back down to about $600k. Family weal

I bought a home in Woodstock, Ontario for about 525k in 2019. Last year comparables sold for almost $1M. And now they’re back down to about $600k. Family wealth going up is somewhat written in fake money. Especially if you’re paying a mortgage with a rate that might renew at double. Toronto is still super desirable but I think there’s real risk, versus it being a guaranteed good investment the way the boomer generation has been hammering into us about real estate. Can you imagine buying a home at $900k, only for it to fall 33% in value and your mortgage interest payments double?

mabbo 3y ago
Huh, that low in Woodstock, eh? We're considering moving to London (ON) to be near family and friends, since we're both remote workers anyway. Interesting to hear the prices down there are falling.
- Waterluvian 3y ago
  Woodstock is an incredible city to raise a family. And it’s literally on the 401 and 403. Highly recommend you investigate a bit and consider it. If you aren’t raising a family you’ll find Woodstock to be devoid of stuff to do for adults unless you hate people.
  - Fervicus 3y ago
    Can you list some reasons that make Woodstock an incredible city to raise a family? I am curious
    - Waterluvian 3y ago
      It’s smaller so it’s generally just lower stress. You can comfortably walk to Southside park from most neighbourhoods. Amazing splash park and family pool and playgrounds. Good schools. Less traffic means less anxiety with letting kids be independent. I love being able to drive literally anywhere in 7 mins and making unprotected left turns during “rush hour” without waiting an eternity. A lot of good programs, especially at the library. There’s a great robotics program at the highschool level. Lots of sports leagues… it’s kinda wild how many quality ball parks there are here (with fences and clay infields and lighting). Good hockey arena. Good curling program for adults and kids. Both my partner and I volunteer at schools and they’re generally great. Filled with teachers who care quite a lot. It feels like what Waterloo was when I grew up there in the 90s. I love seeing roving bands of kids on bikes without parents in tow. Of course a lot of it is subjective. Everyone has to make their own decisions.
      - Fervicus 3y ago
        Thanks! Do you work remotely?
        Waterluvian 3y ago
        Yep, for about five years now. I can’t cay much about the commute other than you’ve got decent access in three directions of southern Ontario. My neighbour goes to Toronto daily and woof… he leaves at like 5am to avoid the traffic.
        otoburb 3y ago
        >>My neighbour goes to Toronto daily and woof… he leaves at like 5am to avoid the traffic. And therein lies the rub. The 401 and 403 (heck, even the QEW and most other major highways) were (and still are!) so congested that it was a deciding factor to moving away from Toronto. The only other place that reminded me of my days in sitting endlessly in stop-and-go traffic on major highways in Toronto was LA, which is a different major North American city famous for its gridlock.
- deleted 3y ago
  [deleted]

mabbo 3y ago

Huh, that low in Woodstock, eh? We're considering moving to London (ON) to be near family and friends, since we're both remote workers anyway. Interesting to hear the prices down there are falling.

Waterluvian 3y ago
Woodstock is an incredible city to raise a family. And it’s literally on the 401 and 403. Highly recommend you investigate a bit and consider it. If you aren’t raising a family you’ll find Woodstock to be devoid of stuff to do for adults unless you hate people.
- Fervicus 3y ago
  Can you list some reasons that make Woodstock an incredible city to raise a family? I am curious
  - Waterluvian 3y ago
    It’s smaller so it’s generally just lower stress. You can comfortably walk to Southside park from most neighbourhoods. Amazing splash park and family pool and playgrounds. Good schools. Less traffic means less anxiety with letting kids be independent. I love being able to drive literally anywhere in 7 mins and making unprotected left turns during “rush hour” without waiting an eternity. A lot of good programs, especially at the library. There’s a great robotics program at the highschool level. Lots of sports leagues… it’s kinda wild how many quality ball parks there are here (with fences and clay infields and lighting). Good hockey arena. Good curling program for adults and kids. Both my partner and I volunteer at schools and they’re generally great. Filled with teachers who care quite a lot. It feels like what Waterloo was when I grew up there in the 90s. I love seeing roving bands of kids on bikes without parents in tow. Of course a lot of it is subjective. Everyone has to make their own decisions.
    - Fervicus 3y ago
      Thanks! Do you work remotely?
      - Waterluvian 3y ago
        Yep, for about five years now. I can’t cay much about the commute other than you’ve got decent access in three directions of southern Ontario. My neighbour goes to Toronto daily and woof… he leaves at like 5am to avoid the traffic.
        otoburb 3y ago
        >>My neighbour goes to Toronto daily and woof… he leaves at like 5am to avoid the traffic. And therein lies the rub. The 401 and 403 (heck, even the QEW and most other major highways) were (and still are!) so congested that it was a deciding factor to moving away from Toronto. The only other place that reminded me of my days in sitting endlessly in stop-and-go traffic on major highways in Toronto was LA, which is a different major North American city famous for its gridlock.
deleted 3y ago
[deleted]