Quote:
Originally Posted by Porsche957
Sold our home in Vancouver for 1.3m last year.
The house was aging and coming on 40 years. Located on big corner lot and the home itself was 3100 sqft. However, it needed work now - foundation, repairs, reno, and maintenance.
Bought a 2 bedroom condo in Vancouver (3 years old) fully paid no mortgage at 500k. The rest of the funds are in low volatile investments.
I am hoping the bubble bursts so we can buy a home again. Looking to buy 2200-2800 sqft home less than 8 years old preferably in Vancouver! If the bubble does burst I won't take such a huge hit on the condo as I would on a home per se.
I am looking to capitalize on everyone who is taking advantage of the low interest rates and financing the living heck out of their homes cause when the bubble bursts and the interest rates inflate, many will no longer be able to afford their mortages.. that's when I come in  |
Curious about this. Sold for 1.3m a year ago, have you checked what the current market value is for the same/similar house? My mom bought a house 6 months ago and she would require a 15-20% correction to buy back in for what she originally paid for. I wouldnt be surprised if you already require a 25-30% correction from todays market value to buy back in for 1.3m.