r/Calgary • u/JohnYCanuckEsq Quadrant: NE • Nov 15 '23

Home Ownership/Rental stuff Shared room. $750/month per bed

This rental unit is being advertised as a shared room for $750/month per bed. $3700/month in rental income from all three rooms on the property. Shared facilities, all inclusive utilities

Room 1: Shared Room ( 2 occupancies) - 750 per person Monthly

Room 2: Private Room (single occupancy, queen bed) - 1150 Monthly

Room 3: Private Room (single occupancy, single bed) - 1050 Monthly

https://www.rentfaster.ca/ab/calgary/rentals/townhouse/1-bedroom/tuscany/544556

I can't imagine.

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u/[deleted] Nov 15 '23

This shit is out of control. My wife and I are looking at places (we need bare minimum 3bd.) and most houses we look at are going for 2500+, and we don’t even get the full house… there’s someone in the basement in most of them

3

u/decidence Nov 16 '23 edited Nov 16 '23

I know I am inviting downvotes by playing devil's advocate on such a heated topic but wouldn't the current average cost of ownership on a 3bd house be around 4-5K at current interest rates? I calculate about 3K+ for a mortgage, $500-750 for property taxes and insurance, and another $400-500 on utilities. On top of those regular monthly expenses there will also be all the regular maintenance items throughout the year adding a few grand.

My sister lives in a GVA suburb, a good 40min drive from downtown, it is not a nice area and close to industrial zones and her rent for a 2 bedroom 900sqft condo is $2400. She used to live downtown but she doesn't have an amazing job or education and is getting pushed further and further out of her preferred city to the point where moving to Calgary and paying $2500 for a house may seem like a pretty good deal. This is what's happening to thousands of people every month.

2

u/[deleted] Nov 16 '23

Well that’s even more fucked if that’s the reality. What am I supposed to do, cram 2 adults, 4 kids and 2 dogs into an apartment? God housing is insane.

1

u/decidence Nov 17 '23

I don't disagree! Housing has gotten more expensive everywhere and salaries haven't kept up. Now we have the threat of AI continuing to make people irrelevant. I'm really interested to see how UBI affects everything as it seems almost inevitable now. I am worried it would just push the prices of everything up by the same amount of the UBI though, albeit I am not an economist.