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Talked to my brother about his new condo in Calgary
He said he bought it because he thinks renting is just throwing money away, but he's paying $450 a month in condo fees on top of his mortgage. I always thought buying was the only smart move, but now I'm not so sure. Does anyone else feel like the 'renting is a waste' line gets repeated without looking at the full costs?
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sandrap4019d ago
Yeah, that "throwing money away" line is way too simple. My friend bought a place and the property tax bill alone was a shock, never mind all the repairs. It really isn't always the better deal.
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charlieo2919d ago
Actually, property tax is usually part of the condo fee, so that's one less separate bill.
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felixw687d ago
My buddy Jake in Tampa bought a house last year. His property tax bill came in at over $4,200, which he wasn't ready for at all. He said it felt like a second mortgage payment just for the privilege of owning the place. Makes that condo fee look a lot simpler sometimes.
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