View Single Post
Old 04-28-2012, 09:03 AM   #65
GGG
Franchise Player
 
GGG's Avatar
 
Join Date: Aug 2008
Exp:
Default

Quote:
Originally Posted by Wormius View Post
I don't want a larger house, but a house in a location closer to downtown. So, it would be downsizing in size, and upsizing in cost. I would like to move, but my wife wants to stay in this house for another few years. She has emotional attachment to the house, I'd just like the sell it while the prices are still high. My worst case would house prices here go down, and where I want to move they stay the same.

The vacation property, would be cheap - I am thinking < $200k for a cabin somewhere around the gulf islands or vancouver island. We like it there, and I could see myself spending large amounts of time there. It's not something that is a priority, but I don't know how things will be 30 years from now if property will still be unobtainable for a sane price. But you're right, it would be cheaper to spend money on a hotel up to some certain point. We only have so many weeks of vacation anyway.

So in short, the answer to the above questions could be considered "no". So maybe the best bet is going the investment route.
My thought would be that since you are not done buying your last primary dwelling I would make short term investments that would be used to purchase your inner city home in a few years. If you wait long enough you could have enough to cover the difference between your current house and new one. A TFSA would work well for that as it would also give you flexibilty if you decide to keep your current house long term.
GGG is offline   Reply With Quote