Quote:
Originally Posted by winson604
Interested to feel what people think of this very common scenario.
- Parents and or Grandparents own a house in Vancouver
- Could get 1.2 - 1.5 million if sold
- Would rebuy and stay in Vancouver, townhome or condo in or around the 800 - 1 mill range
Do people feel that depending on the exact price that possible selling your land for 1.2 and trading that for a 1 million townhome/condo and only banking 200k is stupid? What if it's trading 1.5 for 800k and banking 700k? Does that sound more acceptable and wise now?
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That's the exact same scenario. You're just choosing between option A and option B. You'll need to dive a bit deeper into why you would or wouldn't want to save the extra money. Is it the convenience of the location or building you're buying into or do you want to leave a nest egg for future generations?