Don't try to avoid risk but learn how to manage it.Never risk your money before you know how to manage risk. Never try to win money you can't afford to lose.
-newhonda();
2002-3-12(#400103@0)
Mostly depends on your downpayment. I calculated it with a house of $200K, if your down payment less than 30% with 5% mortgage rate, you won't save more than rent a 2-bedroom.When you buy a house, you should pay for the interest of the mortgate, hydro, water, proper tax, maintainence fee, etc. It is not so simple as what you think before you really buy a house.
-wins(wins);
2002-3-12{188}(#400054@0)
You ignore a very important fact,that is your rental payment.Suppose you pay 10K per year for rental with 8% capital gain. You get less than 54.8K(you should pay for the tax of capital gain) aftter the 1st year and 49.2K for the 2nd year, and so on. You can't earn 300K in 20 years in this condition. Think seriously before you make you decision of investment. In my opinion, you are not a good investor, things are more complex than what you guess.
-wins(wins);
2002-3-12{390}(#400115@0)
Rosemary Gao, check again your email.
-realtor(Bonnie);
2002-3-14(#402864@0)
Do you and your LG feel that you are financially ready to buy a house or condo? Bearing in mind, the rent will definitely go up every year.
-alan01(alan01);
2002-3-14(#402163@0)
In some areas, the rent probably goes down. However, in most areas, the rent goes up every year, just like property taxes go up every year in Toronto. So lots of people choose to buy their own home.
-alan01(alan01);
2002-3-14(#402616@0)