Invest or not into real estate!
I don’t know about you guys, but I always been interested in early retirement and passive income. Obviously, it is easy to have the passive income if you have a few million dollars or you expect to be included in the will for your grandma who lives in a huge mansion in West Vancouver.
But what if you are a new immigrant, working on a regular job and have no way to save money (as we all know, life is pretty expensive in Canada, and especially in our beautiful province.
Also, if you check how much prices on real estate went up comparing to any other sort of investment… and project next 25 years, what would you consider investing in now? Just imagine, if you could purchase that place in downtown Vancouver 25 years back in time, how much it cost then and how much it cost today?
And I am not even mentioning the price of rent (between 1800 and 2800 per month for 1bd).
Therefore, if you are a happy owner of your primary residence (or, if you, who knows, maybe you are lucky 1% who lives in coops and pay peanuts for rent) – why not to be smart and not to purchase investment ppty? You will have your tenant paying for your mortgage in 25-30 years, and even if you choose to sell your place before the end of the term, you still will have a nice lump sum amount from it.
Yes, you need 20% down, yes, it may be a headache sometimes (if you are not checking your tenant properly, paying taxes, doing some extra work – but hey, on the long-term perspective it totally makes sense.
Invest into your future now! And you will thank yourself in 25 years, sitting on the beach with a cup of espresso while getting passive income (which, most likely, will be much higher than your pension).
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