[Wookie]

Sooo..

I've got a place to live rent free for the next year or so. But I'm hesitant about not having somewhere to live if something changes.

I'm comfortable where I am, I've got a decent job, which should only get better (pay wise) yet am on the cusp of being able to affoard a small condo.

I've found one that I really like the location, close to LRT, a block from where I live now, currently being rented, the tennants want to stay, so, I'm debating buying the condo, leaving the tennants in until I need to move 12 - 18 months, and then either moving in there, or selling and buying something that would be more suitable based on a higher income (assuming my pay increases).

Now I'd be viewing buying this place as taking a protectionary stance in the market. If things take another run this year, or in the next 12 - 18 months I'm going to be a lot worse off. At the rates prices were rising I'm worse off saving money. If things stagnate, well I'm subsidizing my mortgage with rental income, if they go down, I would have been better off doing nothing. I'm more comfortable with the first two.

Now this place is a great location, in a nice quadrant, 15 minute drive to downtown, and beside the train. I think location wise it's great. It jsut needs some work.

Any opinions?

I'd assume renters in Calgary at this time would be content to get to stay where they are and would welcome the chance to not have to get up and move. Which means I'm not going to have to do any work to rent the place, I just get them to sign the lease and thigns continue how they were?

Any documentation to familerize myself with that anyone knows of?