Quote:
Originally Posted by SpongeG
yup - most financial people say real estate is not a good investment or sure thing
renters can live where they want, don't have the household expenses and can invest money into things and retire just as well as home owners in the long run - BC is lucky that we have good rental laws and is pretty stable
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Renting wouldn't have worked out very well with me. If I rented, I'd be pissing 700 to 800 dollars down the drain every month over the last 12 years or so. The amount I pay towards my mortgage is about $650 per month, thanks to a low interest rate, plus I have to pay a 170 dollar maintenance fee. I've payed off most of the mortgage, and will hopefully be mortgage free this summer. My place has more than doubled in value. I win, but I was very lucky to have bought in when I did.
Now, I have the option to rent out the place and pick up something new. It just keeps getting better.