Quote:
Originally Posted by 8sPOT
What an interesting time right now. My GF sold her townhouse in Auburn bay for a tidy profit and is now renting a single detached home closer to downtown, and her monthly expenses are lower.
So sold townhouse, made profit, improved dwelling, and reduced expenses.
Only potential downside is if she wants to buy again shes at the mercy of the market whenever that may be.
I've had at least one other friend do this as well. Sold his home in the SW for a nice profit and decided to rent for the time being.
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I think the true analysis here should include the equity you would be building with a mortgage, if 50-60% of your payment translates into savings or wealth are you really saving anything? On paper you show less expenses, but your entire rent payment is money gone, mortgage payment isn't.