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Let's make an easy example.
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$ B1 B' W" ~) P J6 `6 e. G( {* B% vSuppose one person bought a house worth 100,000 last year. It's a two bedroom style.
i! V5 X# g' p2 |9 W. bAfter one year, he or she decided to sell it out.
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/ c; K" e' v% `! QCost (expense): 5 X1 }' [- W3 z
Business tax: 5%*100,000=5000 (please verify) X% a/ S$ i, ~- `: }* H
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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), t6 p+ C$ o! V' b! O1 F6 v
2 @* c5 l! U7 `- O# I% jEstate agent fee: 1%*100,000=1000 (this part is neglected in previous statement)6 r6 }8 ?8 C. p4 i5 r
/ E7 v0 m4 i* W; ?! ]Real estate management fee: 250*12=3000
" T H1 I/ Y& z% Y% v: {4 @( p5 jTotal cost: 14000
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Benefit: |! E1 k6 I2 o+ E1 M
The saved rental: 350*12=4200" }; D4 O4 V) k* E4 s7 J
The rental income from tenant: 350*12=4200# p9 Y4 [7 F) {
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Value increase: 100,000*6%=6000. n: W* H1 a5 t" `9 q! ?" u3 ]* W
. A8 ^4 ?( v5 V$ F5 w: PTotal benefits: 144000 @: u8 l% v* ]- H
So 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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1 z9 y2 X1 I) E$ x% x! k7 c[ Last edited by knptmug on 2005-3-8 at 07:45 PM ] |
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