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08-28-2006, 04:53 AM
  #18
beowulf
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Quote:
Originally Posted by Munchausen View Post
I'm looking to buy also. But I want to be downtown because of my job and because I like it there. Unfortunatelly the prices downtown are just insane. 200K won't even get you a 4. I think buying downtown is a good investment though. It's the place where the prices skyrocket the most. Downtown real estate is a gold mine. I've seen lofts there bought for 120K 5 years ago that now resell for 200K+.
Real estate is crazy anywhere. My parents house in the west island was bought about 20 years ago for 200k or so and these days they are getting real estate agents telling them they could get 500k minimum and probably even more. Hell I just bought the townhouse in south ottawa in an area called Barhaven. It is sort of like the west island 20 years ago. The place I got cost me 236k but talking to some locals including my uncle who lives in Orleans and they all say that the place will gain at least 10k over the next couple of years easy if not more. Real estate in most of Canada is going crazy.

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