Basically, the longer you own the home the greater the equity that
Historically real estate has
been a sound financial investment. Over the past 20 years, the
average increase in residential property values on a national
basis has been approximately 10% a year. Of coarse there are no
Naturally, the appreciation of the value of property over time
includes an inflation factor. Historically, land appreciation
value on residential homes has been 3 to 4% greater than the
inflation rate. However, this can vary, depending on the number of
Low down payment.
You can get into the real estate market by paying as little as %5
down. The balance would be financed through a mortgage, using the
property as security.
Tax advantage. In
Canada, the exempted anyone who owns a principal residence (home)
from tax on that gain. So any increase you make is tax-free.
Copyright 2007, John MK Lam -
RE/MAX - City Realty. All rights reserved