Thank you all for your comments.
Fundmark19, I was thinking of renting my current house when I upgrade. It’s in a prime location for rental (downtown) and there’s the same house down the street that rents for about 7.5% of the sale price. However, I have been reading way too much of Garth Turner’s blog and am now thinking I don’t want to overexpose myself to the real estate market. It’s probably best to be more diversified. Also, I’ve put so much work into making my existing house nice, that I don’t want renters in it. When I leave, I want to cut and run.
Realtor 1, its funny you talk about why people move (downsize/upgrade). The people selling are actually downsizing. Based on the amount of toys they have (ski-doos, quads, RV), I’m guessing they over extended themselves are now selling the one asset they have that didn’t rapidly depreciate.
Tvp2003, my job is bullet proof and I’m not sure about more kids. I’m thinking having more space can only be bonus as my kid(s) get older. I appreciate the comment about accumulating things in more space. Right now I’m already tripping over my tools. Having a workshop just means I can store them better and make better use of them.
GGG, assigning a value to things like a garage, a workshop, and an ensuite seems like an impossible task. I’m not sure how I would even go about doing that.
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