gorbie
New Member
Hi there
My situation:
Recently sold my 1 bedroom condo in Brampton to move closer to Toronto area for work and school for my girlfriend.
Earn about $60,000k a year myself (GF is in school) and after my condo sale I have about $25,000k in cash plus another $10,000k in RRSP.
I have found a gorgeous 1 bedroom loft overlooking the lake in west Toronto for sale for $269,000 (condo fees $400)or the owner will rent it to me for $1700/month. Whats the wiser move?
Plan to live there 2-3 years.
I can buy it with 5% down and money for closing costs. But worried about the markets and if its better to just rent it?
What would you do?
My situation:
Recently sold my 1 bedroom condo in Brampton to move closer to Toronto area for work and school for my girlfriend.
Earn about $60,000k a year myself (GF is in school) and after my condo sale I have about $25,000k in cash plus another $10,000k in RRSP.
I have found a gorgeous 1 bedroom loft overlooking the lake in west Toronto for sale for $269,000 (condo fees $400)or the owner will rent it to me for $1700/month. Whats the wiser move?
Plan to live there 2-3 years.
I can buy it with 5% down and money for closing costs. But worried about the markets and if its better to just rent it?
What would you do?