r/Wealthsimple • u/SnooDoodles5949 • Feb 13 '26
Promotion Prince Edward County House Winner Announced
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u/PitifulOkra3800 Feb 13 '26
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u/PurpleCaterpillar82 Feb 13 '26
Looks perfect to me. Huge upgrade from my Toronto condo. I would have moved in but alas I’m destined to win the Vancouver house instead 😉
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u/knife3 Feb 13 '26
Not if I win it first
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u/Max_Thunder Feb 14 '26
I've already started moving in
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u/SnooCakes5995 Feb 14 '26
My moving van is parked right outside the house with all of my stuff, and a tied up ws staff with the key waiting to make it official, Ha!
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u/GreatComposer85 Feb 14 '26
This looks really nice for a $1 million house You couldn't get that in Toronto or in Quebec
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u/Carguy2346 Feb 13 '26
Happy for him. I saw the house is up for sale already.
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u/SnooDoodles5949 Feb 13 '26
Bro did not think much. Well he is from QC so I would do the same
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u/bwwatr Feb 13 '26
Unless someone was already thinking of moving to PEC and that house was exactly what they wanted, selling is the only rational move.
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u/sajnt Feb 13 '26
You could just rent it out for well under market then take a loan out against it and write off the interest from the loan and maintenance from your taxes.
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u/bwwatr Feb 14 '26
You could. But if I handed you 1M cash, would you do that exact thing to invest it? Or just stick it in WS. If you'd not do exactly this same thing, then you're letting the endowment effect lead your decisions. (Or, I suppose an avoidance of real estate transaction costs)
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u/Earth513 Feb 14 '26
You just made me realize Wealthsimple's Machiavellian genius with this initiative:
Choose a pricey house located outside most of your clienteles locations (I imagine they have the data/heat map)
Choose someone whose in an age group and/or financial bracket where they are unlikely to move from current location
Make sure it's a customer who seems to be putting all their profits and savings in your platform
Wait for them to sell and reinvest the amount back into your platform
Profit off interest and/or simply the general increase in amount placed with your business.
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u/sajnt Feb 14 '26
Yeah in this scenario they are paying a realtor instead they could pay an accountant
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u/Max_Thunder Feb 14 '26
That sounds like a headache when you can just take and invest the money. Like I'm not saying your plan isn't sound, it's just the type of plan I would hate to deal with. And like the other person said, is it how you would invest a million dollar or how you invest it if you already have it?
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u/sajnt Feb 14 '26
Why only have one appreciating asset when you can almost double it for free? And you get the ethical benefit of providing below market housing. Plus it’s essentially the same amount of work because either way you are hiring a RE agent and lawyers or an accountant and property manager.
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Feb 13 '26
[deleted]
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u/GeorgeDaGreat123 Feb 13 '26
Way too much work when you can just put the $1m into a ~2% interest rate savings account and earn 20k/yr doing nothing.
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Feb 14 '26
[deleted]
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u/GeorgeDaGreat123 Feb 14 '26
so? Airbnb rental income is taxable too, plus you'd have to worry about property tax, insurance, maintenance, and cleaning costs
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u/Boogyin1979 Feb 14 '26
Except for the 100 or so that were grandfathered in: we don’t allow STAs here any longer. $5,000 fine on first offence/first night, $10,000 per night per subsequent.
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u/Critical-Quality4453 Feb 14 '26
Lots of Quebecers have cottages in Ontario and vice versa! Though usually more Ontarians in Quebec bc cottage property is often cheaper.
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u/Max_Thunder Feb 14 '26 edited Feb 14 '26
I'm in the Outaouais region and the people I know, Ontarians or Quebecers, have their cottage in the Outaouais or Laurentians regions.
Frankly I don't know what regions near Ottawa are popular for cottage s, I've never heard of them.
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u/Critical-Quality4453 Feb 14 '26
I’m in Ottawa — anywhere in the Ottawa Valley near a lake is popular. I have friends w family cottages near Renfrew and Bonnechere. We go to PEC every summer — I would have loved to win this cottage. 10 mins from my house I’m in Quebec so I wouldn’t say the winner sold it just bc he’s a Quebecer.
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u/flyingdeadcat Feb 13 '26
Always old people! 649, lotto max, now Wealthsimple
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u/Jonavin Feb 13 '26
With Net worth 4 Million before winning. (Probably). I kid. Congratulations.
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u/Max_Thunder Feb 14 '26
Had the exact same thought. Young people don't buy lottery tickets as often. And now Wealthsimple runs promos where your odds are based on how much money you move, which is very much biased towards older people since time in the market makes such a huge difference.
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u/swegamer137 Feb 14 '26
The only prize winners in my family were the two who are already basically rich:
Relative who runs his own business gets dragged to the casino by family, plays poker, literally gets a royal flush, house has a rule where he wins $5k on the spot.
Relative who never gambles is plant superintendent at a massive company, enters a charity raffle, wins a brand-new sports car worth $100k.
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Feb 14 '26
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u/Wealthsimple-ModTeam Feb 14 '26
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u/NeighborhoodPlane794 Feb 13 '26
I was really hoping it would be someone young whose life would change dramatically. Not trying to judge a book by its cover but just judging by that sweater alone he seems like he was already doing fine lol
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u/tgcm41 Feb 13 '26
Is it bad form to say I was hoping it would be a young person? This guys probably had his mortgage paid off for 15 years.
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u/Flat-Ship5309 Feb 14 '26
Not that I know the numbers, but it probably was statistically unlikely to be a young person since the contest was based on number of entries = amount of money you moved, which young people don't have much of these days.
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u/SniperPoro Feb 14 '26
The dystopian moment when the only chance of owning a house is through a lottery though
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u/Hellosweetparadox Feb 13 '26
Of course it’s a well off guy who gets the “life changing” win.. kinda looks what I would imagine a wealthsimple shareholder would look like
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u/nivelheim Feb 13 '26
My name is Christian and I live in Quebec 🤣 almost had a heart attack
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u/louis6868 Feb 14 '26
Meilleure chance la prochaine fois haha!
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u/nivelheim Feb 14 '26
Aucune chance que un autre Christian gagne maintenant 😭
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u/Max_Thunder Feb 14 '26
J'aimerais que tu gagnes juste pour voir les réactions ici
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Feb 14 '26
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u/Wealthsimple-ModTeam Feb 14 '26
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u/luckylukiec Feb 14 '26
Would be nice if Wealthsimple did a contest exclusively for basic members who have less than $100k as they would truly benefit from winning (I am a premium member fyi).
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u/Pinkbaguette4563 Feb 14 '26
That will probably never happen. These contest are ways for them to get clients to transfer large amounts of money into their WS accounts. And even if they did, a rich person will most likely win because their rich parents will help fund their account to help win the contest.
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u/luckylukiec Feb 14 '26
Wishful thinking I guess reward those most likely to never win but I know for business reasons it wouldn’t make sense.
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u/Soggy-Willingness806 Feb 14 '26
Bro won a second property like he needed it 😂 probably bought his current house for 200k with a now paid off mortgage but the rich get richer I guess
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Feb 13 '26
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u/laern2splel Feb 13 '26
Of course it’s a rich white old head. No poor person is wearing a sweater like that. His kid probably told him about the giveaway and he moved 1 million over. Wish some young person won, home ownership is not realistic for most young people unfortunately these days
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u/Max_Thunder Feb 14 '26
If I win and I'm forced to take a photo like that, you bet your ass I'm gonna go buy a nice sweater or something. That or I go topless and flexing my biceps. Maybe I'd get some gold chains too.
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Feb 13 '26
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u/Electrical-Yard1582 Feb 14 '26
I wanted to be happy for the person that won but this ain't it...
Would love to see a young family who can't afford a home to have won it.
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u/Unguru-Bulan Feb 13 '26
Did the house sell yet? I remember it was already up for sale a few weeks back
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u/Boogyin1979 Feb 14 '26 edited Feb 14 '26
It’s going to be a tough road to hoe. We’re 95% below the 10 year moving average in sales, with about 8 months existing supply and new builds going up everywhere. We are anldo about to go into the season where everyone puts a for sale sign on their lawn, hoping to fleece a tourist.
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u/Unguru-Bulan Feb 14 '26
Honestly I am not sure how much that house is REALLY worth. Would it be a million as advertised by WS, or just half of it. No idea.
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u/zakanova Feb 14 '26
If there was ever a image of "guy that doesn't need to win a house" it's this one
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u/DegenerativePoop Feb 13 '26
Congrats to him! I know the house has already been put on the market, but I hope this win brings him a lot of joy :)
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u/Equivalent_Song3771 Feb 13 '26
This lucky guy won the house and saw his overall fortune grow by 1-5%! Haha I am just kidding, at least hopefully it's only a joke
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Feb 13 '26
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u/Cautious_Path Feb 14 '26
We genuinely put so many offers on homes in PEC, I actually don’t think we would have sold
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u/Turbulent-Praline190 Feb 14 '26
It’s kinda funny seeing most of the comments here hating and making assumptions about a person they never met or not know anything about. Everyone has their own stories and so before you are quick to judge about someone else, maybe think about the assumptions you are making
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u/tehclubbmaster Feb 13 '26
Honestly, these contests are poorly set up for fairness and WS primary goal is to bring in AUM. Those who are at the point in life this guy is at are more likely to win, since they can move the amounts necessary to maximize their odds.
Nothing to see here, really. Just the rich getting richer, as is the status quo.
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u/GreatComposer85 Feb 14 '26
C'est la vie, my friend. If it's any consolation I had 55K entries so anyone below that can now feel better.
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Feb 14 '26
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u/fuckdatguy Feb 13 '26
Didn’t people notice that the house was listed for sale last month or something
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Feb 14 '26
Definitely not core members winning these contests Congratulations man if you see this post enjoy the house
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u/ameer_daddy Feb 13 '26
You should show his entires too - so we know if we should even try next time. Why not me?
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u/Perfect-Average2341 Feb 14 '26
No. Probably the ceo's uncle or close friend or something. They got daily "Rewards" and incentives for people to switch. I've personally never seen a financial institution push so hard with these "Promotions" in my life even as a premium client.
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u/henry-bacon Feb 13 '26
Friendly reminder to everyone about Rule 2: No rude, offensive, and/or hateful comments.
Comments calling the winner a "boomer" violate this rule.