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Let's make an easy example. 2 _+ \6 e, J8 e0 t
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Suppose one person bought a house worth 100,000 last year. It's a two bedroom style.3 b% [+ F& P& s* q* z( ?
After one year, he or she decided to sell it out. 9 m' Z3 r: w" I6 ]
% G9 V) {/ {" V! _* z \8 O, LCost (expense):
/ [5 l! U; ~9 O1 T0 X; RBusiness tax: 5%*100,000=5000 (please verify)
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" b9 y9 c+ b) C% {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)/ c2 c" V0 b; z: r+ s- V
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Estate agent fee: 1%*100,000=1000 (this part is neglected in previous statement)6 X# B; ~$ s! L d {, ^0 A: ~0 r
Z& B7 ]1 X/ K0 d4 MReal estate management fee: 250*12=30004 Q l$ B( ~' W! Q) `; _
Total cost: 140008 K7 j1 H5 M o- ]" h
) H2 n- c5 @$ z3 d% n; F6 @ uBenefit:
4 ?5 D7 b4 i ]1 d: s% oThe saved rental: 350*12=4200
& v) K1 f: y& s6 S0 \" _The rental income from tenant: 350*12=4200
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' } D( R8 t7 F3 l% ZValue increase: 100,000*6%=6000
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, z1 |7 e+ Q0 N3 |! z0 }Total benefits: 14400
) y' n8 K# ~& K% T+ CSo 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
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. i/ N) ], B2 y N3 j+ i0 e# R0 Q[ Last edited by knptmug on 2005-3-8 at 07:45 PM ] |
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