With a $ 100,000 equity take out to purchase a $ 500,000 investment property, you would essentially
be financing the property
at 100 % (20 % from the equity of your
home, 80 % financed on the investment), during the first 5 years alone, the monthly interest portion of the investment would
be approximately $ 900 per month, plus the interest from the
home equity of
approximately $ 210, add your property taxes of $ 200 and maybe $ 200 for maintenance or insurance, and you would
be looking at fixed costs of
approximately $ 1,510.
With realtor commissions, HST and lawyers fees to sell the existing
home and Property Purchase Transfer Tax, Lawyer's Fees, Home Inspection and Appraisal Fees to purchase the next property, the decision is really worth thinking about.A new home purchased at $ 600,000 in Vancouver, BC would cost approximately $ 10,000 alone in Property Purchase Transfer Taxes, plus $ 1,000 in lawyers fees, add the appraisal, inspection and other miscellaneous costs and you are looking at close to $ 15,000 alone in just closing co
home and Property Purchase Transfer Tax, Lawyer's Fees,
Home Inspection and Appraisal Fees to purchase the next property, the decision is really worth thinking about.A new home purchased at $ 600,000 in Vancouver, BC would cost approximately $ 10,000 alone in Property Purchase Transfer Taxes, plus $ 1,000 in lawyers fees, add the appraisal, inspection and other miscellaneous costs and you are looking at close to $ 15,000 alone in just closing co
Home Inspection and Appraisal Fees to purchase the next property, the decision
is really worth thinking about.A new
home purchased at $ 600,000 in Vancouver, BC would cost approximately $ 10,000 alone in Property Purchase Transfer Taxes, plus $ 1,000 in lawyers fees, add the appraisal, inspection and other miscellaneous costs and you are looking at close to $ 15,000 alone in just closing co
home purchased
at $ 600,000 in Vancouver, BC would cost
approximately $ 10,000 alone in Property Purchase Transfer Taxes, plus $ 1,000 in lawyers fees, add the appraisal, inspection and other miscellaneous costs and you
are looking at close to $ 15,000 alone in just closing costs.