“We sold the townhouse in Richmond in July 2011. We realized that it was time to get out if we want to realize the equity growth. The urge to buy something next – a SFH – was tremendous after we sold.”

“We sold the townhouse in Richmond last July 2011 – we realized that it is a time to go out if we want to capitalize the equity growth. Since then the prices in our segment are only going down. Slowly though. The urge to buy something next – a SFH – was tremendous after we sold. The anxiety that we would loose the opportunity and all the media hype around it etc. I am so glad that we resisted and renting now. We rent a new (expensive) home in the best area that we would not be able to buy in. I found the experience of renting to be very beneficial for my overall understanding of the house we would need, it is like we got to try different type of houses before we get into the “no turn back” purchase contract. I already see that I would not want the house like the one we are renting now although it is new and my understanding improved of the necessary features our family needs. I am looking forward to move out for the next home experience. Some people would try to scare us by “renters forever” – well, it is better than to be forever in debt, when the bank owns part of your home.”
olga62 at VREAA 12 Jun 2012 9:09am

4 responses to ““We sold the townhouse in Richmond in July 2011. We realized that it was time to get out if we want to realize the equity growth. The urge to buy something next – a SFH – was tremendous after we sold.”

  1. ” The urge to buy something next – a SFH – was tremendous after we sold”

    Stay invested… 😉

  2. yltnboomerang

    One very pleasant surprise that came when we first started renting is the “try before you buy” factor. At some point, when it is cheaper to own vs. rent we will buy however the location we will buy in is somewhere I would never have considered had we not rented here first.

    I grew up on the North Shore and swore I could never live anywhere but there. Moved to yaletown and found, wow, this is the best place ever; next, South Granville, followed by Cambie Village, Commercial, and Fairview/main. If I was strictly a buyer how could I have experienced all these locations? BTW, one thing for sure is that I will never buy in Yaletown again, I thought is was the cats meow…when in my 20’s.

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