Quote:
Originally Posted by Winsor_Pilates
Are you looking at finished product, or pre-sales that will take time to build?
If you're looking at finished product, I'd build up the downpayment for a bit, as I don't think prices will increase anytime soon. If it's presale, and will take a couple of years to build, look for a good deposit structure, and reputable developer.
If you're looking at pre-sale send me a PM if you want info on what we have selling in Calgary or opinions on certain developers.
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I am mostly looking at finished products. I've looked at some pre-sale stuff but nothing really interested me or I couldn't afford it.
I agree with most the sentiment here, I have a feel I'll be waiting. For the amount I was hoping to save another six months should bring me close to that ball park. The stuff I am looking right now is to help me gauge the market better when I am seriously looking. When you never looked before it's tough to tell what's good/bad, big/small, good value/bad value etc.
A couple more questions.
-Is it better to use the down payment to buy a more expensive place or have a smaller mortgage? I can see pros and cons to both.
-How much should I expect to spend on lawyer, condo doc review, etc fees? I am figuring to spending 250k-280k on a place.
-How much money should I set aside to buy furnishings for my place? I basically only have what's in my bedroom and am not really interested in getting Grandma style hand me down flower pattern couches.