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) |    |
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| 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) | |
|
Posted on: 09-02-12 16:18:25
Bhoot Sirr , pls add one important option to the vote
"I should buy but holding on amid market fear" or " I am the chicken of the market" or whatever decent words you want to use for them.
Lets see how many are standing on the other side of edge? in other words how successful doomsayers are ?
How about building your own small house on a(relatively) large area of land? Even in Canada, land usually appreciates after every few years and built up structures usually depreciate over the course of time.
The small house may be designed in a manner it can be expanded in future without modifying the existing structure.
Which leads to my next question. Is it hard to find vacant land in urban areas where you build the house by yourself(your contractor)?
Quote:
Originally posted by elmer fudd
How about building your own small house on a(relatively) large area of land? Even in Canada, land usually appreciates after every few years and built up structures usually depreciate over the course of time.
The small house may be designed in a manner it can be expanded in future without modifying the existing structure.
Which leads to my next question. Is it hard to find vacant land in urban areas where you build the house by yourself(your contractor)?
Totally agreed but Not sure how many first time home buyers would take that step.
When you buy your first house to live in, it doesn’t matter if the market goes up or down as long as you are not selling it. If the market goes up, there is no benefit to you because you still need at least one house to live. Similarly if the market goes down, you are not at loss unless you sell it. I think one should take it as a long term investment and don’t get influenced by the short term ups and downs.
Only important factor is that if you can sustain it in the long run. If economy is not so good, increase the buffer.
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A Delhite in Toronto
Quote:
Originally posted by bhootnath
Quote:
Originally posted by elmer fudd
How about building your own small house on a(relatively) large area of land? Even in Canada, land usually appreciates after every few years and built up structures usually depreciate over the course of time.
The small house may be designed in a manner it can be expanded in future without modifying the existing structure.
Which leads to my next question. Is it hard to find vacant land in urban areas where you build the house by yourself(your contractor)?
Totally agreed but Not sure how many first time home buyers would take that step.
Another way is to go for a detached older small house with big lot size.
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A Delhite in Toronto
Quote:
Originally posted by Delhite
When you buy your first house to live in, it doesn’t matter if the market goes up or down as long as you are not selling it. If the market goes up, there is no benefit to you because you still need at least one house to live. Similarly if the market goes down, you are not at loss unless you sell it. I think one should take it as a long term investment and don’t get influenced by the short term ups and downs.
Only important factor is that if you can sustain it in the long run. If economy is not so good, increase the buffer.
The problem being, I don't want to pay premium prices for a new home, even as first time buyer. What you say may be true for self-occupied homes as long term investment objective AFTER you have made the original investment in the same house.
Quote:
Originally posted by bhootnath
Totally agreed but Not sure how many first time home buyers would take that step.
I think contractors over here are much more expensive to hire on our own. Its not like in India, where you can afford to hire maistrys(masons)on your own. Perhaps TK sahib can explain better, its in his neck of the woods(architecture) or even seasoned realtors would know.
