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Today: 20.01.2018 - 03:21:55
   Canada Mortgage Hub Discussion Board -> Mortgage Vancouver -> Is a house that goes from $160,000 to about $340,000 in 11 years considered good?
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qutatela

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Is a house that goes from $160,000 to about $340,000 in 11 years considered good?
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Bc mortgage
Post # 1.

nonconcludency11422

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May be good except in certain parts of CA !
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projectseven

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IT ALL DEPENDS ON WHAT HAS BEEN DONE TO THE HOUSE
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petrushko

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It depends on how old (age of home) those comparables are, how much land each has, what are the updates to the home, etc. If you aren't comparing apples with apples, you can't automatically assume you can sell for $340K.In more rural places, yes that's a good profit (assuming your home sells for around $340K). If you're talking about big cities like NYC, Vancouver, Hong Kong etc, then no that's not a very good return. My client purchased their home for $1 Million in 2003 and sold it for $3.5 Million in 2011 - now that's a good investment. My other client purchased in 2003 for $300K and can sell theirs for about $850K today. So a good increase in value depends on who you ask, where the home is situated, how much work has been done (since you had to pay for that work to get it to $340K etc).
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