It all depends on your plan and your abilities to grow your money. As a rule for me right now why on earth would I buy? The only realistic reason is potential tax advantages. Once you have found ways (legal ways ofcourse) around paying a lot of taxes on the money you generate, then I don't see much point. But--AND HERE IS A BIG BUT--don't be a lazy fool with the excess cash that you now have available. Grow it wisely and live the UpperTier life.
Even if you assume real estate can net you a 10% return per annum (3x the figure the video mentions) and assuming the house sale is tax free (as it was your principle residence) that simply means you need to find an investment that nets a return better than 11.35% (the 10% annual return of your real estate plus an allowance for what the taxes would have been if that had been another investment earned within a corporation which in Canada currently would be an additional 13.5% of the 10%).
10% + (10*0.135) = 11.35%
If only I could think of an a place where I could earn a fair amount more than that without the headaches of home ownership. Something where I could put money into it at the rate that I wanted (not that the bank demands) and something totally liquid that I could interact with from anywhere in the world.
Hmmm....thanks creativeX for some better opportunities.
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