In Calgary, some condo owners cashing out as others climb in
Come springtime, Addie Laratta plans to list her Calgary condo. The monthly mortgage payments for her 1,400-square-foot unit in Skyview Ranch, in the city’s northeast, rose in 2023 from $900 to $1,600.
An “accidental” landlord, Ms. Laratta has been holding on to the property since 2018, as she first acquired the condo at the height of 2014 for about $325,000, shortly before Calgary’s economic downturn. “I paid high for it – I was very worried,” she says. “But with the situation now, it seems I won’t lose money. I’ll probably make my money back.”
Categories
Recent Posts
A Toronto home, steeped in childhood memories, is redesigned into finely crafted luxury
Best of nine offers on revamped semi in High Park North goes $196,000 over asking
North York luxury home sells by keeping under $4.5-million mark
Brothers hire Montreal design studio to remake each of their homes
Toronto needs 32,000 more homes a year just to get back to prepandemic affordability, CMHC says
Growing number of renters are waiting for home prices to decline further before buying, report says
Ontario wants to remove urban design from development applications. Toronto's chief planner thinks that's a mistake
Despite lower rents, many tenants report spending less on food and taking on credit card debt to make ends meet
King City townhouse sells for $35,000 less than what owner paid in 2023
Once a tuberculosis hospital, this heritage building now provides transitional housing
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "