Why stop at second? Buy a third one!
Everyone knows houses only go up, you'll be a millionaire in no time!
Um. Why? How many houses can I live in at the same time?
We're still paying off the second one. Hoping to have it done in five years or so.
I've got one in T.O. that I'm renting out to my brother-in-law for a nominal amount,
and another here, that the family is in. I'm hoping to wait out a T.O. correction, if it occurs.
Right now the house has been going up around 8% per year, so you have to compare that to the markets, and it doesn't seem so super outstanding, bubble like. Basically, we can't afford to buy back into the Toronto housing market, if I tie up my assets in other things, so we decided to keep the house, on the off chance, we ever want to move back.
Since it's not too far from Downtown, and the water, the price should remain fairly stable.
Then again if the council carries on from where they left off, and follows the Ontario Liberal's path into massive debt, all bets are off. I wonder who they'll run to, with hat in hand to keep the swimming pools open now, since the Province's cupboard is worse than bare?