Buying a condo now to retire in later
I have a paid off primary residence . Is it a good idea to buy an investment condo now in the south Etobicoke Humber bay or along subway line islington or Kipling and Bloor area 500 square feet one bedroom for 400k around 120k down mortgage rest . Hopefully rent it out and break even . My purpose is eventually to move in to the condo and sell my primary residence a detached house 3 bed 2 bath bungalow in central Etobicoke Islington rathburn area when I retire in 20 to 25 years . The condo will pretty much pay itself off by then and I will be ready to downsize with my wife hopefully by then kids will be self sufficient .is this a good strategy or is it better to just keep putting my surplus money into the stock market in the form of ETFs and forget about the condo idea .