🚀 go-pugleaf

Mike (anon@xnews.com) writes:
> If you are only going to need the house for a short period of time 
> (probably 4 years or less) it makes more sense to rent than to buy (except 
> maybe in housing markets like Ottawa has been in the past few years where 
> property values have skirocketed in short periods of time).

Why do you say property values in Ottawa ski-rocketed in a short period
of time. According to the Ottawa Real Estate Board these are the
average price increases:

1995	   $143,193    -2.9%
1996	   $140,513    -1.9%
1997	   $143,873 	2.4%
1998	   $143,953 	0.1%
1999	   $149,650 	4.0%
2000	   $159,511 	6.6%
2001(oct)  $175,349 	9.9%

> If you buy/sell you have to pay real estate agent commission, land transfer 
> tax, lawyer fees x 2, etc.  Not to mention that most of your mortgage 
> payment is interest and not principle.
> 
> There can also sometimes be income tax advantages to renting as opposed to 
> buying;  if you buy and then sell a home and it isn't your primary 
> residence (i.e. you have another house somewhere else that is), you have to 
> pay capital gains on the profit from the sale.
> 
> Mike
> 
> 
> dlevangie@home.com (DL) wrote in <3be51b9b.1212782352@news>:
> 
>>If someone ever gets to the point where they are paying 4000 in rent
>>then it is crazy to dump that kind of money into nothing...why not
>>build some equity somewhere....that is all I meant....
>>
>>On Sat, 27 Oct 2001 14:25:31 GMT, anon@xnews.com (Mike) wrote:
>>
>>>Actually it might be reasonable considering the size/value of the home.
>>> A $80K apartment probably rents for $1000/month; why wouldn't a $320K
>>>home (worth 4x more) rent for $4000/month (4x more). 
>>>
>>>That being said, I don't know the vendor or the home so have no idea if
>>>the house is worth that much if it is, it's probably in the right
>>>range.  How much would you expect to pay for a large deluxe home?
>>>
>>>Just my 2cents
>>>Mike
>>>
>>>
>>>
>>>dlevangie@home.com (DL) wrote in <3bdaa26d.526295793@news>:
>>>
>>>>I'd like to rent the one for $3900.00 a month please....NOT...
>>>>
>>>>Sorry but that is nuts....
>>>>
>>>>
>>>>On Sat, 13 Oct 2001 09:44:50 -0700, "ne1943@hotmail.com"
>>>><ne1943@hotmail.com> wrote:
>>>>
> ... (msg deleted)
>>>>>
>>>>>
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>>>>
>>>>
>>>
>>
> 

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