LogFAQs > #895194375

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Topic	Signed off on a condo, cuz buying a house alone was impossible. Whelp.
GameReviews 01/31/18 4:31:16 PM #27:	Doctor Foxx posted... 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! A good deal is not necessarily a good financial investment. That's weird, I have several clients who are real estate agents in the GTA and more than one of them have told me that presale condos have been one of the most consistent money making investments in the real estate market in recent years. I even know multiple family friends who bought presale condos and resold them before the buildings were even finished being built for a very substantial profit. In some cases, the same construction company who sold them the condo in the first place offers to buy it back from them for a pretty substantial profit, due to how much the market went up. --- Sign here. <cite>GameReviews posted [p:895194375] in Signed off... [t:76265438]...</cite> <quote><cite>Doctor Foxx posted...</cite> <quote>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! A good deal is not necessarily a good financial investment.</quote> That's weird, I have several clients who are real estate agents in the GTA and more than one of them have told me that presale condos have been one of the most consistent money making investments in the real estate market in recent years. I even know multiple family friends who bought presale condos and resold them before the buildings were even finished being built for a very substantial profit. In some cases, the same construction company who sold them the condo in the first place offers to buy it back from them for a pretty substantial profit, due to how much the market went up. --- Sign here.</quote> ... Copied to Clipboard!
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