CONDO UPDATE 3...
Well, I haven't updated this with regards to RE in a while..
About 4-5 months ago, I decided I would stop looking at condo's.. (the fee's are stupid)
And start looking at 1950's bungalows in Scarb..
There have been a number of nice ones in what I considered MY price range..
$300-$400K... Which is how much the banks would lend me, which is sick and gross....
Back on point, Ive also come to believe Canadian, and Toronto RE will lose a lot of value
in the next few years.. Ive also set a goal of not buying a place that costs more than
$150K (which means I wont be buying anytime soon)..
Ive decided to rent, and invest all the extra $$$ that I would have been throwing into mortgage
fee's.. So, with that in mind, looks like Ill be a renter for the next while..
We do want to upgrade our Apt.. Maybe look into renting a condo, thats a little smaller, and a little more expensive.. I can put another $200 into rent, as long as it includes a Washer/Dryer and a dishwasher.. (The toronto Condo market is set to unleash 20,000 new units this year.. 60% of which were bought up by foreign investors that will rent them out hoping to cop a capital gain on them in the next few years.. This means a flood of condos onto the rental marker, hopefully dragging the cost of rent down)..
About 4-5 months ago, I decided I would stop looking at condo's.. (the fee's are stupid)
And start looking at 1950's bungalows in Scarb..
There have been a number of nice ones in what I considered MY price range..
$300-$400K... Which is how much the banks would lend me, which is sick and gross....
Back on point, Ive also come to believe Canadian, and Toronto RE will lose a lot of value
in the next few years.. Ive also set a goal of not buying a place that costs more than
$150K (which means I wont be buying anytime soon)..
Ive decided to rent, and invest all the extra $$$ that I would have been throwing into mortgage
fee's.. So, with that in mind, looks like Ill be a renter for the next while..
We do want to upgrade our Apt.. Maybe look into renting a condo, thats a little smaller, and a little more expensive.. I can put another $200 into rent, as long as it includes a Washer/Dryer and a dishwasher.. (The toronto Condo market is set to unleash 20,000 new units this year.. 60% of which were bought up by foreign investors that will rent them out hoping to cop a capital gain on them in the next few years.. This means a flood of condos onto the rental marker, hopefully dragging the cost of rent down)..