Context: Family of four with high income, near-maxed retirement accounts, a 170k mortgage at 4.84%, and a growing emergency fund—should we invest in local condos or try other options?
i reckon diversifying isnt a bad idea. local condos may be hot but maybe check reits and other opions too. be carefull though since mortgage rates are low, gov rules differ, and proper research is key.
Property investment can be a viable next step after maximizing RRSPs and TFSAs, though caution and comprehensive analysis are essential. My personal experience shows that when choosing between local condos and alternative investments, it is crucial to carefully examine the total cost of ownership, management obligations, and market conditions. This approach ensures that the cash flow potential justifies the additional risks compared to more passive investments like REITs or bonds. It may also be worthwhile to consider consulting with a financial advisor to align any property investment with your broader financial strategy.
Hey, ever consider the balance between hassle and potential gains? I’m curious if property diversifications truly outpace traditional investments when your RRSP and TFSA are maxed. What do you think about the rental market’s stability versus market timing risks?