Quote:
Originally Posted by yameen
so would it be wiser to get a condo in new west/burnaby/coquitlam rather than vancouver? or do you think there will be a rise in condo prices in vancouver worth investing?
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What are your objectives? Do you want to get in because you hope to upgrade to a larger home at some point in the future? Or do you want to make a quick buck by living in it for a year and then flipping it?
The old rule is if you have at least 20% down and plan to live in it for at least 5 years, you can weather any short-term declines in the market.
From a resale perspective, location is crucial. If you want to buy in the suburbs, make sure it's within a 5-10 minute walk from a Skytrain station.