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.
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!
ReplyDeleteYes, 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.
ReplyDeleteWell, I guess you have made a good investment!
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