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| Topic | Signed off on a condo, cuz buying a house alone was impossible. Whelp. |
| Doctor Foxx 01/31/18 4:26:34 PM #26: | I guess expect it to increase. Anyone buying property does or it would be foolish. but be totally prepared for the possibility you will be on the hook for the full mortgage and interest over your loan period and may not recoup that initial value. If you have a 20 year mortgage you will also not recover the 100k+ in condo fees at any point. If you can afford that potential loss then you're set. If you want the best possible chance at recovering money don't buy presale condos ever! You have no idea how close to what you will get is to what they sold you, nor do you know what the neighborhood and surrounding amenities will be by the time you can move in. Apparently you also pay HST on new builds and not resales. A good deal is not necessarily a good financial investment. --- Never write off the Doctor! ... Copied to Clipboard! |
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