Laval Heat
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Will I make a profit if I buy and resell a new house after 1 year without living in it?
For example, the new house cost 245,000$ without options.
The down deposit is 60,000$. The mortgage therefore will be 185,000$ at a rate of 5.24% for 5 year and amortize for 30 years.
Other fees:
2,000$ Notary
3,800$ Property taxes (total)
2,000$ Welcome tax
1,000$ heating/electricity for 1 year
5,000$ to buy material to finish the basement myself + grass for the backyard
5,500$ to finish the pavement (front)
250$ Water tax
1000$ interior lights
How much will I need to sell it to make a profit or will I make a profit?
This is for a new 2 floors house with a basement. 3 rooms. Size of the house is 22x37, size of the land is 28x80.
The house is built in Laval, Qc, Canada
it's simple. NO - not unless you get a great deal today
i assume you would rent it and that the rent would cover the expenses each month.
you purchase for 245000
options 13000
costs to purchase (closing): 5000
cost to sell it (realtor) 15000
cost to sell it (closing): 5000
total investment: 283000
to break even you would need to sell it for around 285. this doesn't even count your time and lost interest on your down payment.
At the best of times, flipping a house is hard. In today's market it's almost impossible unless you can get a great deal.
save your 60k.
Alfa Laval Spiral Heat Exchanger for Liquid-Liquid Heating-Cooling
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