Quote:
Originally Posted by La lamy
It is expensive to have 2 homes to pay for, but avoiding Canadian winters is what I worked for my whole life. Worth every sacrifice and stressful career to have achieved it. BTW, owning a home in TV is much cheaper to run than renting. They say if you rent for more than 1 1/2 months, owning ends up cheaper.
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interesting, I'd love to see how the numbers were crunched to get to the 1 1/2 months figure. Whenever I calculated it (which I did many times over the years trying to justify the investment) I came up with a number more like 6 or 7 months.
However, I was including my mortgage payment, and not including any capital appreciation (since that is an unknown and unpromised amount).
Whenever I've had this conversation with people, usually owners of homes, they compare what it costs them today, typically on a home they paid cash for, and bought 10 years ago, with what rents are today. It still comes out to more than 1 1/2 months, usually.