Does this condo reserve fund worry you?
They went into debt to fix a structure issue (brickwork) and are now suing the builder. The condo is only 12 years old.
u/PocketMafia — 3 days ago
4450/60/70 Tucana Court Condos
Anyone have experience with these buildings in Mississauga? I am looking to buy a unit and wanted to see what owners/renters thought of the building and the units.
u/PocketMafia — 2 months ago
▲ 4 r/mississauga
4450/60/70 Tucana Court
Anyone have experience with these buildings in Mississauga? I am looking to buy a unit and wanted to see what owners/renters thought of the building and the units.
u/PocketMafia — 2 months ago
I am in a situation where I can buy a house cash. My portfolio is near an all time high while the real estate market around me is at a multi-year low.
Some background:
Currently renting a 1 bdr for $2200.
Place I am looking to buy is a 3 bdr.
Maintenance fees (all inclusive) + taxes for the new place would be $1,511.
So this means, even though I would own the house w/o a mortgage, I would still have $1511 per month in expenses. To rent a similar space would be around $3,000. So, theoretically, I am locking away $450,000+ on a house purchase to save only $1,500 per month. This doesn't seem to add up in my brain. $450,000+ invested in the markets would yield a much larger return over time than $1,500x12 = $18,000.
Please help me understand. Am I looking at this all wrong?
u/PocketMafia — 2 months ago