Quote:
Originally Posted by flamesfever
The above is key.
Whenever I have purchased property, I looked for that inner voice that said to me, "I want this property". If that happens to you, then when it comes time to sell it, there is a high probability it will happen to others.
I would look at land values...especially inner core. In some cases, the land is worth just slightly less than the house plus land. So in effect you are getting the property at a huge discount to replacement value.
IMO in the long run, you have to be in real property to offset inflation, and create wealth.
However, have said all that, Timing is everything, and waiting, until you can afford the risk, may be the right thing to do.
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While this is all true, I don't view my primary residence as an investment. I found the house I like, close to my workplace and in a desirable neighborhood in my personal opinion, and not necessarily in the opinion of real estate gurus. When I moved back to Calgary, I chose to live in the suburbs because it works for me.
If I happen to move away in 10 or 15 years and make money off the place, then great. But my top priority was finding a house with the right floor plan that I enjoyed and in an area that worked for me. Everything else be damned.
As an aside though, I'm annoyed how small "double" garages are in Calgary suburbs.