My real estate investment (Not commercial)
| Poll:My real estate investment (Not commercial) | |||
| Choice | Stats | ||
| I own one property and glad that I took that decis | 81% (13) |    |
|
| I own more than one property and glad that I took | 6% (1) | |
|
| I own(ed) one property and regret the decision | 13% (2) | |
|
| I own(ed) more than one property and regret the de | 0% (0) | |
|
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| Poll:My real estate investment (Not commercial) | |||
| Choice | Stats | ||
| I own one property and glad that I took that decis | 81% (13) | |
|
| I own more than one property and glad that I took | 6% (1) | |
|
| I own(ed) one property and regret the decision | 13% (2) | |
|
| I own(ed) more than one property and regret the de | 0% (0) | |
|
Just FYI, above concerns are discussed in detail and repeated for over last two years in following thread.
http://canadiandesi.com/read.php?TID=25730
Although RRSP, RESP, long term saving, Life insurance, vacation fund, emergancy fund, car repair fund, dowry fund, funeral fund, doomsday fund, etc. are important but having your own home is equally important and one day can meet all the above needs.
If you start saving in all of these to its full extent then I am not sure if you will have enough money to even meet both ends meet.
Lets not divert from the topic..what really is needed from desi friends on this forum is to find out, from their opinion, if buying house is a mistake or is it really a right thing to do.
Quote:
Originally posted by rahul_singh23
How many new homeowners have fully loaded rrsp, resp, long term saving, 6 months rainy days funds, 20% down payment and your total debt serving is not more than 40% after tax salary. I may be too old fashion.
Seems like our friend Rahul Singh have taken idiots guide to healthy savings too seriously.
You seems to be one of those who were born with silver spoon up your ... throat.
and clearly have no idea how houses are made by salaried people. Even in India,
my old fashioned dad , in early 90s took 5 years of partial constructions to complete all portions of house. We lived in the house without flooring for an year as money got exhausted , then after a year got the flooring done but no tiles in toilets and after another years tiles in the bathrooms. Thats how houses are built by hard working salaried people. House eats away all savings, all funds which are collected for years. Same is the story of many of us. Thats the Reality !. It takes many funds to build a house.
anyway back to the topic.... buying house is not a mistake till you have a stable job and skills to continue on it. If you are unsure of your earning prospect in future buying a house can cause some h-aches in coming times!
.
So far only 2 voted for not happy....hmmm I wonder who those two would be 
Let me take a guess one of them could be the one who brings different charts from all over the world and second one who has lots of friends on BC area who cannot move because of overborrowing.
Location: Amidst a glow in the sky.
Posted on: 23-02-12 14:01:45
I own a property and I am glad I made that decision. However I would be cautious before making any final conclusions, the game is not over yet, time will tell who won and who lost :-)
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