Real Estate

Condo Investors- Do you follow an approach of cashing-out or holding RE ?

  • Last Updated:
  • Oct 1st, 2019 10:05 pm
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[OP]
Sr. Member
Dec 28, 2010
653 posts
256 upvotes
Toronto

Condo Investors- Do you follow an approach of cashing-out or holding RE ?

We hear all the time, that holding RE in long term is the key to gains.

But, owning a condo is different than a house, semi , townhouse freehold & condo.
The question comes from owning a condo or investing in one. Would you just hold it until it's paid off ?
With the fixed costs maintenance and other expenses increasing as it gets older.
Because, it looks like (just from observation, don't have any data to backup} , older buildings with larger bigger units with crazy high maintenance fees, are less appealing and sell for less than smaller newer units.

So whats the point of holding these so long. Rather cash out and move the funds to semi or townhouse -freehold or better invest in these to start with.
In the long run, say at retirement, with them paid off - after expenses you get a 1k/month or so income from condo's, it doesn't make sense unless you scale this.
Whereas, holding a semi or townhouse would have better return.
Last edited by Karma2000 on Oct 1st, 2019 10:00 pm, edited 1 time in total.
3 replies
Deal Addict
Jan 13, 2014
1647 posts
576 upvotes
Calgary
I am holding mine as when I retire (if i dont die first with my awesome family medical history) I would actually live in it. Although to be fair i am cashflow negative (albeit a small amount) on my rental condo unit.
[OP]
Sr. Member
Dec 28, 2010
653 posts
256 upvotes
Toronto
masarwar wrote: I am holding mine as when I retire (if i dont die first with my awesome family medical history) I would actually live in it. Although to be fair i am cashflow negative (albeit a small amount) on my rental condo unit.
So that implies that you are most probably doing it for the location. But, given the ever rising cost of maintenance etc..you would have been better off getting an independent unit - such as a small semi or freehold Townhouse - as you are anyways keeping it for long run, aiming for a loan pay off.
Deal Addict
Jan 13, 2014
1647 posts
576 upvotes
Calgary
Karma2000 wrote: So that implies that you are most probably doing it for the location. But, given the ever rising cost of maintenance etc..you would have been better off getting an independent unit - such as a small semi or freehold Townhouse - as you are anyways keeping it for long run, aiming for a loan pay off.
Not just the location, but the floor size (950+ sqft) layout is amazing (bedrooms on opposite end) corner ground floor unit so complete privacy and well managed condo board with nominal fees. I do have a no condo fee townhouse, a suited duplex and a detached on my portfolio.

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