Quote:
Originally Posted by Sylvanfan
You know I'm not so sold on that one. I mean you could own a property in Halifax outright, but say property values double in price over the next 15 years. Your place in Halifax is worth 300k than. Your 325 place in Calgary could be worth 600 type of thing. Plus if you're not making as much, you're paying more taxes on stuff too. A house is a place to live, but you also have to make sure you like where you live too. I mean you can go own a mobile home free and clear somewhere in Northern Ontario if you like too, but will you like it? If you go out there and hate it, and decide you want to come out West again, will you be able to do so, or will it be too expensive. It's one thing if you're originally from there, but it's very different if you're not and haven't ever been out there.
|
I completely agree with you, and part of what is driving this is quality of life. We would like a nice house with an extra bedroom or two, a garage and just the privacy that we don't have here. To do that in Calgary, we would have to increase our mortgage by about 100k at the least.
I grew up living in the country and am starting to miss the space and privacy. A lot of the places outside of Halifax look really nice, although there are a ton of older homes in the area.
Living in Calgary, it is hard to ever imagine owning your property outright. Some people are okay with a large mortgage over their heads, I know some people are taking out 40 year mortgages right now. They are paying mostly interest for that first 5 year term, yes you renegotiate after but why pay someone interest? I would much rather own something free and clear and not have to worry about interest rates, re-financing,
But I appreciate everyone's comments. It looks like a nice place to live and raise a family, as long as you are able to snag a decent job. I've been there a few times, my wife has been there quite a few times and has lots of family there. We are going there in a few weeks too, should be a good chance to look around some more.