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How to lose $1.5 m in 13 years

Paula Tysoski
Monday, May 8, 2023
How to lose $1.5 m in 13 years

How to lose $1.5 million dollars in 13 years. 

Many predictions suggested 2023 was going to be a year of declining real estate prices. 
Some said we would reach the bottom in the Spring of 2023 and some said the end of 2023. 
Looking at the current numbers it appears we did reach 'a' bottom and prices are again on the rise.

We are seeing some multiple offers and properties selling for over asking, but we are also seeing some properties selling for less than asking and staying on the market a bit longer, meaning there are still good opportunities available for motivated buyers. 

There is a shortage of housing that is driving this market and it is not going away anytime soon. 

When looking at a short period of time such as a few months or a year you miss the bigger and much more important picture. 

No doubt, it is hard to make a decision to buy a home and really, it is hard to buy a home when you do not have access to the inside information and the knowledge of how real estate works. Lucky for you, we have both! 

Looking at the big picture and understanding what the long term goals are will give buyers a better understanding when deciding what to do. 

So what to do? Buy or Rent until things change? 

Choose to rent instead of buy could cost you the opportunity to have somewhere around $1.5m in equity in just 13 years. 

Average house prices in our area increased by 210% over the past 13 years. 
Average price in 2010 was about $233,000
Average price in 2023 was about $720,000
Increase of about $486,000 - in just 13 years. 
Using the same % increase of 210% 
Average price in 2036 could be about $1.5 million while choosing to rent over the same period will cost you about $391,000! ??

Just for fun 2049 average price could be about $3.15 million. ?? WOW

Yes this is a simplified exercise to demonstrate the benefit of buying instead of renting, we are aware there are other costs and considerations, even with those included, buying is by far better choice over the long term AND there are also tips, tricks and solid advice that could make this scenario even sweeter for you the buyer!

Buying a home may be easier than you think, call or text 226-400-6458 today to learn more!
Our home hunter service give you access to special financing, off market homes not available anywhere else and all VIP Buyers get a free home warranty and a Buyer Satisfaction Guarantee!* Learn more here

Stats are from ITSO MLS as of May 8, 2023 

What it looks like when you buy:
Average sale price Jan 2010 VS April 2023

Area Jan 2010 April 2023 Percent increase Amount increase
Brant Area                    $220,000 $707,000 221% $487,000
Cambridge Area  $270,000 $783,000 190% $513,000
Brantford  $199,000 $646,000 225% $447,000
Paris  $245,000 $746,000 204% $501,000

Estimated vaue in 13 years

Percent increase 2023-04-01 2036-04-01
Brant Area                   221% $707,000 $1,565,041
Cambridge Area  190% $783,000 $1,487,700
Brantford  225% $646,000 $1,451,065
Paris  204% $746,000 $1,525,494

What it looks like when you rent:
When you RENT!! When you OWN!!
Renting  2010-01-01 160 months Total Paid out Apr-23 avg rent Next 160 months Total Paid Out (Lost)    Vs Increase in equity
Brant Area                      860 160 $137,600 2300 160 $368,000.00                   $1,565,040.00
Cambridge Area  836 160 $133,760.00 2800 160 $448,000.00 $1,487,700.00
Brantford  860 160 $137,600.00 2277 160 $364,320.00 $1,451,065.33
Paris  860 160 $137,600.00 2400 160 $384,000.00 $1,525,493.88


*Conditions apply call/text for details. 

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