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With 5% down, 6% interest including CMHC fee $98,325 mortgage = $629 monthly. Mortgage balance after 5 years = $88,331 Appreciation of 2% annually, your home is now worth $110,400. $110,400 minus mtge balance of $88,331 You have paid out $37,740 equity after 5 years $22,069 -------------------------------------------------------- Typical 2 bedroom apartment rents for $750 Typical rent increase of approx 2.5%/year. $47,300 paid over 5 years Equity $0 What scenario is in YOUR best interest? |