on timing, part II

Pea and I moved from Canada to the US in 2012. At the time, the Canadian dollar was stronger than it had been for the bulk of my lifetime, sitting pretty at par or a nose below the US dollar.

Today, the Canadian dollar is worth 0.68 USD. Pea and I have been paid, and been saving, in USD for these four years. We’ve been transferring money to Canada over the past year as we watched the dollar drop and drop, seeing a hefty return for our efforts (in dollar amounts if not actual global value). Pea has more to transfer, and the dollar has just kept dropping.

The net result is that we have approximately 25-30% more down payment than we would have, solely from the vagaries of global currencies.

Such good timing, but never something we could have counted on.

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5 thoughts on “on timing, part II

  1. rainbowgoblin

    That’s such good news! It hadn’t even occurred to me that you’d benefit from the current situation. My mother was complaining about how they have to go to Florida in March, and how much it’s going to cost them (it actually is an obligation, but still… Talk about first world problems).

    Reply
    1. labmonkeyftw Post author

      We were slow on the uptick: I remember in August suddenly thinking “I should move money! Holy crap!”, but then the dollar just dropped and dropped and it turned out we hadn’t missed the boat at all. It makes for a crazy difference, where a $5,000 transfer lands as $7,200 in Canada.
      First world problem, yes, but when things suddenly jump by 50% in cost, it makes a dent!

      Reply
  2. Turia

    I read this several days ago but only now have a moment to comment.

    I think you should think of this as the universe paying you back for the fact that you couldn’t buy until now, so you’ve missed out on the growth the property market’s had over the last few years! A house will cost more than it did four-five years ago, but now you have more money to buy it with!
    xoxo

    Reply

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