Budget of $250,000

[odin2404]

Sounds like US. Low real properties prices due to slowing economy. But nothing like this in Vancouver and Richmond at least.

Which is actually good for a new comer in terms of buying property. You could get a steal on a repo home!

 

[odin2404]

Update:

Prices in Mississauga ...

Condos can be upwards from 250k
Town homes Upwards from 250k
Houses (detached) from 300k

Should you provide 30% down payment for something youre buying, securing a loan is "relatively" easy.

Cheers,

 

[mrbeachman]

Now is the best time to sell(i.e. if you can sell at your asking price), and worst time to buy.
Rent first and bargain hunt later.

greaterfool.ca/

chpc.biz/

These are not informative links. I agree that renting in most cases is better than buying, but greaterfool and other sites have been predicting a meltdown for years and it just isn't happening, so who is the fool?

These are the facts:

I bought a small one bedroom in upscale building on Queens Quay last year for $230,000.

I had to put $80,000 down which included closing costs.

My monthly mortgage is $650 + 350 in condo fees plus around $100 a month in Taxes. Toal cost $1100 a month. Inlcudes everything.

The similar place to rent would cost me around $1300 a month if I am lucky.

Interest rates might go up, that is a real danger..... but I can guarantee you that rent will not get any lower. This is Toronto.

 

[attiehl]

You can buy a studio in Toronto and small house around North of Toronto.

I am a real estate agent,let me know if you need any assistance.


BR
Rose
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