Appreciation in primary residences to move up

[Ramanjeet K.]

Hi BP Community in Canada,

I am currently residing in Brampton and in my second primary residence (moved from a stacked town to a town). I wanted to ask what strategies you may have used to move up in your primary residence homes for instance buying a condo to a 4000 sq. ft detached home instead of just saving money up to spend it on a large house and never moving for years. If you can provide details on cities, mortgage products, resale / preconstruction properties, years it took, etc. I would love to learn from your strategies that have worked for you.

Thanks.

R

[Chris Baxter]

@Ramanjeet K. welcome to BP.  I would suggest that most investors put their money into investment real estate, not into making their primary house larger.  If your house isn't generating a return (appreciation doesn't count as it isn't guaranteed), it's a liability that you dump money into (see Rich Dad Poor Dad).