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Let's make an easy example. 6 g1 l/ {( ^& M. k7 g% i
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Suppose one person bought a house worth 100,000 last year. It's a two bedroom style.
7 p7 ]; J; M. _4 |8 q; DAfter one year, he or she decided to sell it out. ) I) A t# \- u/ V
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Cost (expense):
+ g5 j* g' A9 s0 c4 `% A3 b" |Business tax: 5%*100,000=5000 (please verify)
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Mortgage interest: 5%*100,000=5000 (not only the loan interest you pay the bank, but the interest of inital payment of house should also be accrued)
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Estate agent fee: 1%*100,000=1000 (this part is neglected in previous statement)
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) Y( x; b4 x* ]% a t( Z6 QReal estate management fee: 250*12=3000$ g$ w5 K N+ Y4 n/ k5 W
Total cost: 14000" Z" V* X& [. j5 x9 P2 c; M* B
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Benefit:
: Z8 z0 h: V5 D3 q2 kThe saved rental: 350*12=4200
3 }0 I8 }/ w% I% L- sThe rental income from tenant: 350*12=42002 {$ l/ {3 a3 G3 @4 T* E
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Value increase: 100,000*6%=6000
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) r; a# N& N3 |* U/ vTotal benefits: 14400
) h5 B7 G) O: f1 TSo if both purchasing and selling transactions are conducted in one year, just slight gain could be achived. So the edmonton estate market is not worthwhile for short term investment, f. O+ C/ G$ l+ l
& i, X* f% O% c# s) \- O[ Last edited by knptmug on 2005-3-8 at 07:45 PM ] |
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