How To Avoid Being House Poor And Other Homebuyer Horror Stories with Dusko Sremac & Leigh Gate

06/14/23 • 43 min

The Next Generation of Homebuying Part 2
Are you dreaming of buying a home, thinking you finally have enough money to make it happen? Well, hold on a moment! Without proper preparedness and due diligence, you might fall into the trap of becoming “house poor.” It’s all too easy to compromise on essential features or overlook crucial structural issues in the rush to find a home. Don't rely solely on listing prices either–thorough research on the true value of a property is key.

In the second episode of our three-part series, Half-Banked focuses on what buying a home is like, particularly for first-timers. For this episode, we examine the pitfalls posed by the hot seller market and how to make an informed decision that sets you up for success. Joining us are Calgary realtor Dusko Sremac, Ontario home inspector Leigh Gate. Homebuyers Chris and Julia also join us to talk about their experiences buying a home in Toronto.

Join us in this episode as we explore the challenges young homebuyers face in the current Canada housing market. We’ll discuss how to overcome these, ensuring that your first experience buying a home doesn’t turn into a horror story.

Here are three reasons why you should listen to this episode:

Find out how to avoid being “house poor”.
Listen to some of the horror stories of those who got caught up in the frenzy of a hot seller’s market.
Learn what due diligence entails when buying a home in a competitive markets.

Resources
Dusko Sremac: Instagram | Real Broker

Leigh Gate: Home Advantage Property InspectionsAbout Dusko

Dusko Sremac is a top-rated REALTOR® at the Real Estate Partners, a respected brokerage based in Calgary. With a lifelong passion for real estate, Dusko brings extensive experience and knowledge to his role as a realtor.
His background as a journeyman red seal electrician in the construction industry equips him with a keen eye for potential electrical issues and a strong understanding of construction practices.

About Leigh
Leigh Gate is the person behind Home Advantage Property Inspections. With a professional journey that began in 2012, Leigh is a seasoned home inspector dedicated to providing top-notch service.

As a passionate advocate for the profession, Leigh is an active member of the Ontario Association of Home Inspectors.

Enjoyed this Episode?

If you did, subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review.

Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

Thanks for tuning in! You can find us on YouTube, Apple Podcasts, or Spotify! You can also follow us on Instagram, TikTok or Twitter for more clips and updates or visit our website.

Here are three reasons why you should listen to this episode:

Find out how to avoid being “house poor”.
Listen to some of the horror stories of those who got caught up in the frenzy of a hot seller’s market.
Learn what due diligence entails when buying a home in a competitive markets.

Resources
Dusko Sremac: Instagram | Real Broker

Leigh Gate: Home Advantage Property InspectionsAbout Dusko

As a passionate advocate for the profession, Leigh is an active member of the Ontario Association of Home Inspectors.

Enjoyed this Episode?

If you did, subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review.

Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

Previous Episode

Rewriting Real Estate Rules with Asif Kasim and Steve Saretsky

The Next Generation of Homebuying - Part 1
For many, buying a home is a big landmark in their adult life. Your parents and grandparents have built and bought their own houses to settle in and start their families. It's a goal the youth pursue whether they can afford it. Unfortunately, today is vastly different from the experiences of older generations. Buying a home in the Canada housing market[1] today isn't the same as when your parents did.

In this three-part series, Half-Banked focuses on what buying a house is like. For this episode, we examine the rules and advice older generations followed to buy a home and test them against today's market environment. Joining us are Asif Kasim and Steve Saretsky to share their insights on the financial and real estate side of buying a home. They pinpoint which rules still work and which ones ultimately need an update.

Join us in this episode as we change the rules of the Canada housing market and rewrite them to fit today’s generation of homebuyers.

Here are three reasons why you should listen to this episode:

Find out the best downpayment percentages, rates, and budget you should consider when buying a home.
Discover whether or not your home should be your biggest investment.
Learn updated Canada housing market rules for today's real estate environment.

Resources

● Asif A. Kasim: LinkedIn | Integrity Tree Financial

● Steve Saretsky: LinkedIn |Saretsky Group

Enjoyed this Episode?

If you did, subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review.

Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

Next Episode

Not Your Traditional House: Van Living and Tiny Homes

The Next Generation of Homebuying Part 3

The dream of homeownership can seem unattainable, especially with the average one-bedroom apartment rental in Canada costing just over $700 a month and 29% of Canadians resigning to renting forever. Fortunately, today's episode focuses on alternative home-buying strategies, which may be the light at the end of the tunnel for many aspiring home buyers. Tiny homes or van living might be a way out of renting for the rest of your life.

On this episode of Half Banked, we interview three guests: Comedian Matt Watson, as well as tiny home builders and experts Roger Allan Gallant and Bianca Metz. All of them have experience in alternative housing. Matt Watson enjoys the freedom of van living and lives a nearly nomadic lifestyle that aligns with his career. Roger and Bianca are experts in the tiny homes field and have built, purchased, and helped others create tiny homes to suit their needs.

Mobile or tiny homes may be a great option if you'd like to break free of renting forever.

Here are three reasons why you should listen to this episode:

Learn about the freedom and affordability benefits of living in tiny homes.
Discover how the tiny home market may evolve and grow in the coming years.
Understand the demographic trends and factors driving the popularity of tiny homes.

Guests

About Matt Watson
Matt Watson is a comedian making his living out of a van. He takes a relaxed and sincere approach to comedy and has done shows all over the world.
Connect with Matt through Facebook, Twitter, and Instagram. You can also follow him on YouTube or visit his website for videos and show dates.
About Roger Allan Gallant
Roger Allan Gallant founded EcoEnviroBuilders, which builds environmentally friendly, off-grid, and affordable tiny homes. He's built several homes for families and lived in five different ones himself.
You can connect with Roger through the EcoEnviroBuilders Facebook page.
About Bianca Metz
Bianca Metz founded Giving Tree Tiny Homes, a consulting company that helps Canadians build their own tiny homes.
Connect with Bianca through the Giving Tree website, Instagram, or LinkedIn.

Enjoyed this Episode?

If you did, subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review.

Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

Half Banked - How To Avoid Being House Poor And Other Homebuyer Horror Stories with Dusko Sremac & Leigh Gate

Transcript

This is our first home. We already knew we were in for quite a long road ahead with like potential renovations, maybe renting it out like we were biting off a lot. And then to have this idea of like, maybe the soil not being remediated in time or whatever was like very stressful, and just definitely something that we didn't really want to have to explore in our first home.

Bethan Moorcraft: Welcome back to Half Banked. I'm Bethan Moorcraft.

Cadeem Lalor: And I'm Cadeem Lalor.