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Average annual appreciacion of real estate?
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| d!abolic |
| How much can i expect a condo to appreciate annually? We're talking in the next two years or so. Can i expect 5%/year? More? I know it's impossible for say for sure, but based on the last few years? |
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| VERTiG0 |
www.goatse.ca
oh god if you haven't seen goatse don't click okay |
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| d!abolic |
| Is it realistic to expect 10% or over? I just did the math and basically, this deal is a loss unless the condo doesn't appreciate by over 20% in 24mo. Too risky / unlikely? |
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| malek |
| forget it, 10% is unlikely. |
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| 4-play |
Condos....minimal...but not 10..maybe 5 points. But then again depends on location. From the way it is the supply is greater than demand.
houses....a bit more... |
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| MarkT |
| quote: | Originally posted by d!abolic
Is it realistic to expect 10% or over? I just did the math and basically, this deal is a loss unless the condo doesn't appreciate by over 20% in 24mo. Too risky / unlikely? |
In Toronto, +20% over the last 2-3 years, quite possible...over the next 2, no way. |
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| d!abolic |
| quote: | Originally posted by MarkT
In Toronto, +20% over the last 2-3 years, quite possible...over the next 2, no way. |
Hmm. See the "idea" post in the other thread you just posted in. About 2nd mortgage. |
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| d!abolic |
| I just figured something out. Real estate kicks ass. The average rental is equal to what, the price of mortgage + utils? So you buy something and lease it out to someone, get them to pay your mortgage. The value of the property goes up over time, and you increase their rent. Now not only are they paying your mortgage, but paying your mortgage and putting money into your pocket. You take that money and reinvest it into that property, decreasing the amount of interest, increasing the amount of money that you can reinvest. Rinse and repeat until the end of time. |
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| Fir3start3r |
In next couple of years, condos aren't going to be such a great investment.
It's a buyers' market right now and only going to be moreso in the next year.
There's already too many vacancies and developments going on and a 'correction' in the market hasn't occured yet but everyone is calling for it.
By correction I don't mean the big crash like in the 80s but definately an 'adjustment'.
Could be a good time to buy however but don't expect the big payoff for a few years; it'll definately be a long-term investment... |
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| Porky |
| quote: | Originally posted by Fir3start3r
In next couple of years, condos aren't going to be such a great investment.
It's a buyers' market right now and only going to be moreso in the next year.
There's already too many vacancies and developments going on and a 'correction' in the market hasn't occured yet but everyone is calling for it.
By correction I don't mean the big crash like in the 80s but definately an 'adjustment'.
Could be a good time to buy however but don't expect the big payoff for a few years; it'll definately be a long-term investment... |
yo jeff, i thought u were looking for a condo at the present?
:) |
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