To invest or not to invest?

Dear Real Estate Renegades,

My husband and I bought a condo (745 sq.ft 1 bed + den 2 bath ) in Toronto (Downtown Markham) during the pre-construction phase at 247,900.00. Thinking ahead, we are looking to buy a house in the Markham area but considering keeping the condo as an investment property due to the uniqueness of the project. Remington has released a new condo project, selling similar condos to ours for about 309,900.00. So my question to you is this: should we sell the condo now with a 60,000.00 profit or should we keep it as an investment? If we keep it as an investment, when should we sell (considering the new construction and cooling market)? Any other advice would help.

A new couple trying to get in the real estate game.

Comments for To invest or not to invest?

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Nov 17, 2010
 RE: To invest in real estate or to not invest in real estate
by: Tom Karadza

Hello Hello,

Tough one. What are your goals?

We personally don't like holding onto real estate with the hopes of appreciation only.

If the condo has the potential to appreciate and can also produce some positive cash flow we'd be inclined to keep it. If it's negative cash flow we'd likely sell it and take the profits and move them where that money can work harder for us.

Our 2 cents!

Tom.

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