Wednesday, July 22, 2009

Hmmm....

I came home a bit later than usual tonight having stayed to listen to our analyst call and bumped into a couple of my neighbours in the hall. Seems my neighbours 2 doors down sold their place in the first week above asking(!)

Their unit is my size in square footage with a different layout and assuming they paid the same price as I did, their return on investment was 46%. Forty. Six. Per. Cent. That's a lot of money. I won't lie and say that the thought hasn't crossed my mind to sell given the tight supply in my neighbourhood - but I love my place and I love my neighbourhood and if I were to move elsewhere, it would cost me as much or more for probably less space...so no moving for me. Just daydreaming.

3 comments:

joyce said...

Wow that's amazing. I'll have to investigate and see what mine would be worth 3 yrs after buying it. Sheesh. That's amazing re: value of your place - makes you feel much better about the purchase!

phoenix said...

Yes, I'm sure your place would have appreciated quite a bit as well. I told my mom about it and she said I was more than welcome to move back home to bridge the gap if I wanted to sell my place to realize the incremental value. :) While the thought of starting over and decorating a new place is VERY appealing, I'm not yet prepared to make that decision.

The Lone Beader said...

Well, I guess you have made a good investment!

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