I bought a house in vancouver a couple of years ago; my payment is ~3K per month but rent covers a good chunk of it, leaving me with a 10K payment. My fear is two fold. 1) I'm eating $10K per year (assuming my tenants stay long term) and 2) if interest rates hit double digits in 3 yrs time (my mtg term expires then), I could be paying close to $20K per year!
But if I sell now I take a 4-7% hit. Should I hold or sell? My job is pretty secure.
But if I sell now I take a 4-7% hit. Should I hold or sell? My job is pretty secure.