Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos Real Estate: http://www.JasJagpal.com
Sam, his wife and their young son- new migrants to Toronto from Mauritius called me as they were looking to buy a house. They had received my newsletter from their child's school back in November 2009 and felt comfortable calling me and knew of the community work I was doing in the Morningside Height's community including the Brookside soccer program I run. After consulting with them for two hours I left the meeting and thinking "WOW! What remarkable people they are!"
I saw parents leaving their homeland Mauritius, once again, to give their child(ren) more opportunities and hence a better life. Currently their top priority is to become home owners and they are so dedicated that they are sacrificing today's simple pleasures for tomorrows gains. I was reminded of my parent's time where my father would bag his lunch and tea to work to save his quarters... which all added up. If you consider today's lunch and coffee at about $10-$15 a day. That is easily $75 a week. Multiply by two people - $150 a week. Which is $600 a month. By sacrificing on many pleasures we take for granted Sam and his family in under a year have saved over 10K to put towards their dream house.
I'm sure it is no fun renting and living in a tiny basement 1BR apartment and I know they would love to have their own place now. I know the Sam's will need more space to accommodate the birth of their second child and it would be easy to sell them a condo today that would fit their $150K budget. But even with everything pointing to finding them a place, I know for "this family"- who has made many sacrifices, it is not the right time to buy just anything now!
I know the Sam's are looking for safe environment and have a dream to own a semi or a townhouse in a nice family neighborhood. I know they want a yard for their kids to play in and family to gather and enjoy fine home cooking. I know they see their house as an investment and to get the greatest return they should be there for 3-5 years before moving up to a larger house. I know they are 1st time Buyers and they get certain tax incentives. Knowing all this I advised them to wait... save some more money and buy something they want and in the meantime I'll look to see if their is "anything" that fits their "needs".
I know some Realtors will say Jas, you are just plain stupid and kicking yourself in the foot! You never know if this person will buy with you down the road. You just gave away potentially more than $3000 in commissions. I realize that. But I wouldn't feel good, sleep well, if I got them a place, just because they could really use it now and knowing they'd most likely move in a year and lose money in the process.
We all know... money comes and goes. It's like a river flowing from one bank to the next. It never stays with anyone forever and we too are not immortal. I feel when I help someone by guiding them to what is best for them, the Law of Karma, will eventually pay back in kind. I can only control my actions and do what I feel is morally right. The rest I leave to the universe.
So did l lose $3000 in commissions or gained $10,000 in good will. Only the universe knows. One thing I do know is that I feel happy and always get a good night's sleep.
Posted via email from Markham Boxgrove Real Estate Blog
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