Hardcore Rock Superstar

iTrader: (2)

we'll see....might end up buying a condo or something which would likely be a lot newer...only thign i don't like, is they expect you to be quiet....arg. But they do a lotta **** for free...maybe we can be the end unit and the one on the other side won't be rented out?

Probeman

I don't think I've ever heard the word condo and free in the same sentence unfortunately. Don't forget, you are gonna have condo fee's anywhere from $150-$300 a month.

noo tribe

You forgot the interest you pay on a morguage. For example i currently pay $1000 for my mortuage where $700 is interest and $300 is principle. If i were to rent for $1000/month. I am really losing out on $300/month not 1000/month. i think buying for resale or renting out is a good investment. But buying property to live in really sucks.

islandphile

Remember that any capital gain on your principal residence is tax free (provided you don't appear to be flipping principal residences for a living, typically 2 in 1.5 yrs or 3 in 2 yrs will raise flags @ CCR...and they will claw back to the very first one with interest and penalties so be careful).

Many people for example build a new home on reno one every 3 yrs or so and take the capital gain as a tax free bonus...if you put in some labor into the house yourself that is like working for cash in essence...the payday is a little ways off that's all, but it's a good way to get ahead.

AAAAAAA

iTrader: (7)

You forgot the interest you pay on a morguage. For example i currently pay $1000 for my mortuage where $700 is interest and $300 is principle. If i were to rent for $1000/month. I am really losing out on $300/month not 1000/month. i think buying for resale or renting out is a good investment. But buying property to live in really sucks. </font>[/QUOTE]Not to mention all the taxes you have to paye...municipal,school ect...

For instance here is my situation:

appartement is 600/month so 7200 yearly gone.

Im moving in a house it will cost me around 1000$/month so like he mentioned above only 300 of that is being saved up.

So thats 12000 yearly of payements where 3600 is on the house and 8400$ is gone with the wind.

Add to the 8400$ property taxes and all that good stuff and that could be anything but lets say 3000$.

Now we are up to 11400$ yearly gone.

Then you need to take into account the extra electricity, heating and repairs wich could easily add up to a few extra 100$\month.So another 1200$/yearly.

House = 12600$ in wasted money
Appartement = 7200$ in wasted money.

Just something to think about. Obviously if the house is cheeper or if you paye a lot more rent then the figures change.

JordyO

iTrader: (17)

You forgot the interest you pay on a morguage. For example i currently pay $1000 for my mortuage where $700 is interest and $300 is principle. If i were to rent for $1000/month. I am really losing out on $300/month not 1000/month. i think buying for resale or renting out is a good investment. But buying property to live in really sucks. </font>[/QUOTE]Not to mention all the taxes you have to paye...municipal,school ect...

For instance here is my situation:

appartement is 600/month so 7200 yearly gone.

Im moving in a house it will cost me around 1000$/month so like he mentioned above only 300 of that is being saved up.

So thats 12000 yearly of payements where 3600 is on the house and 8400$ is gone with the wind.

Add to the 8400$ property taxes and all that good stuff and that could be anything but lets say 3000$.

Now we are up to 11400$ yearly gone.

Then you need to take into account the extra electricity, heating and repairs wich could easily add up to a few extra 100$\month.So another 1200$/yearly.

House = 12600$ in wasted money
Appartement = 7200$ in wasted money.

Just something to think about. Obviously if the house is cheeper or if you paye a lot more rent then the figures change. </font>[/QUOTE]The house is -$5400 yearly. When it's time to sell you will almost certainly get more than that back in appreciation. (my house has already gone up about $20k-30k in the past year alone)

If you invest wisely and get the right place, you will almost ALWAYS win by buying a house. [img]graemlins/thumb.gif[/img]

AAAAAAA

iTrader: (7)

You forgot the interest you pay on a morguage. For example i currently pay $1000 for my mortuage where $700 is interest and $300 is principle. If i were to rent for $1000/month. I am really losing out on $300/month not 1000/month. i think buying for resale or renting out is a good investment. But buying property to live in really sucks. </font>[/QUOTE]Not to mention all the taxes you have to paye...municipal,school ect...

For instance here is my situation:

appartement is 600/month so 7200 yearly gone.

Im moving in a house it will cost me around 1000$/month so like he mentioned above only 300 of that is being saved up.

So thats 12000 yearly of payements where 3600 is on the house and 8400$ is gone with the wind.

Add to the 8400$ property taxes and all that good stuff and that could be anything but lets say 3000$.

Now we are up to 11400$ yearly gone.

Then you need to take into account the extra electricity, heating and repairs wich could easily add up to a few extra 100$\month.So another 1200$/yearly.

House = 12600$ in wasted money
Appartement = 7200$ in wasted money.

Just something to think about. Obviously if the house is cheeper or if you paye a lot more rent then the figures change. </font>[/QUOTE]The house is -$5400 yearly. When it's time to sell you will almost certainly get more than that back in appreciation. (my house has already gone up about $20k-30k in the past year alone)

If you invest wisely and get the right place, you will almost ALWAYS win by buying a house. [img]graemlins/thumb.gif[/img] </font>[/QUOTE]Yeah but over here is an exeption..we had a huge boom in house value wich is going to stop..so someone buying now wont get nearly as much. It depends on where you are..and WHEN you might buy hehe.

Normally your house appreciates but NOTHING like what we have seen in the outaouais/ottawa region.

MY house went up to by 10G I think withint just a few months.

My only regret is not bying 2 years ago. I would of had a mantion for the price I paid for my little bird house haha.

oh well.