Quote:
Originally Posted by Tapioca
In the appraisal community, 99-year prepaid leasehold is equivalent to an equivalent freehold property in value. If you're buying brand new leasehold, you might be able to find out buyer in 3-5 years time as the spread and desirability between the two properties is small.
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Keep in mind, Banks will not let you borrow against lease hold properties.
That means you would have to take out a line of credit, which is usually higher % interest rate to use as a down payment on the new place instead of borrowing against your equity as a down payment.