Would you pay off an Executive Condominium in full, or buy a District 10 condo on loan? They’re vastly different approaches to real estate, and you might think we’re talking about two different buyer profiles.
M sought a second opinion, however, from her cousin that had seemingly done well in the property market: While you might save on the interest, this can lock up your capital, and leave you with limited savings when you need it. We suggest speaking to a financial professional, before you decide to pay for the whole property upfront .
“But on the day I was to drop the cheque for Fourth Avenue, I went to the RoyalGreen show flat, which was opposite Fourth Avenue’s, to use their restroom. M says that the second property came “after much calculation, accepting the risk, and getting approval for the loan, which was not easy.”
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