Quantcast
To buy or not to buy - Beyond.ca - Car Forums
Results 1 to 9 of 9

Thread: To buy or not to buy

  1. #1
    Join Date
    May 2004
    Location
    Calgary
    My Ride
    Sentra
    Posts
    1,471
    Rep Power
    17

    Default To buy or not to buy

    I didnt really want to start a new thread, but I need some opinions, seeing as there are a lot of smart real estate minded people on the board.

    I was thinking of buying a condo in evergreen/bridlewood this week, possesion time is spring 2007. I would be selling it just before possession. On monday they have a price increase of about $5k so I was thinking friday after work throwing my $500 down to secure one.

    Is this still a good idea?

    I hear there are quite a few condos going up which might satisfy demand, but they still will have price increases throughout the year I hope.

    With only 5% down and with the current market, it seems to be a good idea to make a few dollars over a year (I got bills to pay, this could help).

    Thanks for the input

  2. #2
    Join Date
    Jun 2002
    Location
    Calgary
    My Ride
    335i
    Posts
    8,873
    Rep Power
    25

    Default

    Yes it's a great idea!

    But you didn't mention a few things; How much are they? Where are they located? How big? Etc.

    The nice thing about them is that you'd only need to pay the downpayment now. Once its ready you have the choice of renting it out or selling it. The only problem with selling is realtor fees, but there are ways you can sell fast without ever needing one.
    Original Post NAZI Moderated


    Originally posted by r3cc0s
    Felon or Mistermeiner

  3. #3
    Join Date
    May 2004
    Location
    Calgary
    My Ride
    Sentra
    Posts
    1,471
    Rep Power
    17

    Default

    Well I would probably buy a 2 bedroom, around 900 sq ft, and they are building some near me at 162ave and 24th St. SW. It is technically Bridlewood I beleive, cause I think its on the south side of 162nd.

    2 bed, 1 bath w/ Underground Parking is about $113-127k (775 or 787sq ft). There are a few options below that, a few above that. 2 bed/2 bath is $130-146 (806-1050sq ft).

    I'm assuming a 2 bedroom would be easier to resell??

  4. #4
    Join Date
    May 2002
    Location
    YYC
    My Ride
    BMW E70
    Posts
    1,197
    Rep Power
    19

    Default

    2 bedroom / 2 bathroom would be the easiest to resell or rent out. Most people in the market for a 2 bedroom condo prefer the second bathroom. Its better for having guests/room mates.

    Just watch out because there is quite a few condo complexes going up in the Bridlewood / Evergreen area.
    Last edited by HRD2PLZ; 01-13-2006 at 09:04 AM.

  5. #5
    Join Date
    May 2002
    Location
    Calgary
    My Ride
    Skateboard
    Posts
    915
    Rep Power
    18

    Default

    Everybody is doing condo flip thing. My fear is when all these condos are completed in the next few years it will flood the market. All these people buying hoping to flip just before completion have created a false demand. Just hope you can cover the mortgage if you can't sell or rent it out for months.

  6. #6
    Join Date
    May 2003
    Location
    Calgary
    My Ride
    Acura CL
    Posts
    173
    Rep Power
    0

    Default

    those are some really good prices
    do you know what builder??

  7. #7
    Join Date
    Jan 2005
    Location
    calgary
    Posts
    18
    Rep Power
    0

    Default

    Those condos are right across from ours.
    We live on 162 ave and 24th street in the point of view condos that are already there.

    We have a 2 bedroom 1 bath, cause its just me and my bf.
    We thought you lost a lot of room for the second bathroom, and we didn't really need it. If you are renting it though, you may want 2 bathrooms.

    THere have been a few that have gone up for sale, and they seem to take 2 - 3 months to sell. Rumor is they have gone up a bit in price (approx 10,000)

    Good luck!

  8. #8
    Join Date
    May 2004
    Location
    Calgary
    My Ride
    Sentra
    Posts
    1,471
    Rep Power
    17

    Default

    Ya....i'm not sure what to do, I should have done this a year ago but I was saving for other shit, like Wedding and a house.

    I'm not looking to make a killing, I just want to maybe double my 5% down which I hope wouldn't be too hard, then I could afford to pay off my line of credit

  9. #9
    Join Date
    Jun 2002
    Location
    Calgary
    My Ride
    335i
    Posts
    8,873
    Rep Power
    25

    Default

    Originally posted by G
    Everybody is doing condo flip thing. My fear is when all these condos are completed in the next few years it will flood the market. All these people buying hoping to flip just before completion have created a false demand. Just hope you can cover the mortgage if you can't sell or rent it out for months.
    There's a lot of developments going up, but there will always be a demand for them (now, anyways). Hopefully it won't slow down, but no one should purchase one if they cannot put away 6 months of mortgage payments prior to purchase in case no one buys or rents.
    Original Post NAZI Moderated


    Originally posted by r3cc0s
    Felon or Mistermeiner

Similar Threads

  1. To buy OR Not to buy?

    By euro_racer in forum General
    Replies: 14
    Latest Threads: 07-14-2005, 11:38 AM
  2. my P.O.S mazda will not not start......

    By jaabickford in forum Mechanical
    Replies: 19
    Latest Threads: 12-10-2004, 06:12 PM
  3. Replies: 4
    Latest Threads: 05-16-2004, 02:18 PM
  4. To buy or not to buy?

    By Shaolin in forum General Car/Bike Talk
    Replies: 8
    Latest Threads: 03-20-2004, 11:40 PM
  5. Not sure if this has been posted or not but ....[video's]

    By 89coupe in forum Cars, Bikes, Machines
    Replies: 0
    Latest Threads: 08-06-2002, 02:59 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •