Quote:
Originally Posted by Vinny01
All this bubble talk really feels like a BC and Souther Ontario problem. Sure it is a little hot in Calgary but as I mentioned early in this thread that I sold my place 3.5 weeks ago for $83k less than we paid in 2014 (which I think was among the peak times ever in Calgary).
Looking at the available homes in my neighborhood you are getting a fully developed basement with the brand new infills for the same price we paid for our undeveloped basement and not a complete appliance package which we had to take to get this place 7 years ago.
The house we ended up purchasing for 400k less than the selling price in 2008
This article from a couple weeks ago discussed how Calgary is a lower risk market relative to the others in Canada.
https://dailyhive.com/calgary/calgar...arket-low-risk |
We did exactly this. Bought our new home then sat on our old one for a couple of months to get it ready to sell which was way easier once it was empty.
We didn't get any offers anywhere close to what we wanted so we rented it out to cover the carrying costs. We found some amazing tenants that took better care of the place than we did. We were super fortunate to luck into good tenants but we earned probably 20% more selling the property later than if we were forced to fire sale the place. Our new place was only 10 minutes away from the old one so that helped with that decision. If you have to go across town to do minor repairs for your renters that would be a pain.