Quote:
Originally Posted by Stormspirit
Parents are offering me a deal on a new condo that will be finished in late 2015. 2 bedroom, 2 baths with balcony. Pretty much I get to move out and stay there myself, but I would have to pay $700 towards the mortgage since they put down payment on it with their own money. How good of a deal am I getting?
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Time to grow up $700 in mortgage is a good deal. Is just like paying rent. Try renting the same it might cost $1400/mon. Basically is $700 in mortgage, $350 to $400 in strata fees. In your case it seems better to buy but that's coz you got a cheap mortgage.