74 - Friday, July 3, 1992 - North Shore News

REAL

ESTATE

Clayton study compares 11 centres

From page 50

in the low-inflation§ en-
vironment of 1992 and
beyond. .

For owners purchasing in
1992, after 20 years, the
owner will have a substan-
tially greater net worth than
the renter (by $50,000)
assuming house prices rise
at the same rate as inflation.
And after 30 years, the
owner will have paid off the
mortgage and have much
lower shelter costs than the
renter. The owner’s net
worth, according to the
study, would be $167,000
greater than the renter’s,
and will grow significantly
each year through invest-

ment of the difference in
shelter costs.

“The net worth advantage
of the owner compared to
the renter in this analysis is
due partly to the projected
increase in house prices at
the rate of inflation.’’ But
the report notes that it is
not essential that house
prices rise at all for the
owner to enjoy major ad-
vantages in net worth com-
pared to the renter. Even
with no rise in house prices,
a 2% rate of inflation, the
owner would still be much
better off than the renter —
by $75,000 after 30 years.

‘This study makes it clear
that home ownership as an
investment will continue to

outpace the renting option,”
said Farrish. This is quite
apart from all the other
benefits of home ownership.

The study concludes that
home ownership has gener-
ally been ‘ta very good in-
vestment’’ in Canadian cit-
ies. The only exception to
this conclusion is for those
who purchased in 1981
when interest rates were ex-
tremely high and house
prices declined — *‘an aber-
ration from the general
trend in the post-war period
in Canada.’’ Purchasers in
1983 fared much better than
those who bought in 1981,
mainly because of the lower
interest rates.

BRIAN LEE
“Working for You”
986-9321 off.
985-9634 res.
623-5502 par.

:

+

OPEN SUNDAY 2-4
#503-1050 BOWRON CR7.

Beautifully appointed 2 bedroom ff
plus den unit. Large open dining &
and living room add to the versatil- jf

ty of this already large 1409 sq.ft.

home. Turret design eating area &
with 3 windows off kitchen, 2 full &
bathrooms, fireplace, large balcony
with city view. Located on quiet §

side of building facing into
courtyard.

ARMSTRONG
986-9630
650-3749 Por.

FABULOUS NEW HOME
© Deluxe finishing * 5000 sq.ft. potential
§° Spiral staircase ® Large view lot
8° Large master bedroom with e 3 car garagge
fireplace, jacuzzi e Gourmet kitchen with
f° 3 fireplaces centre island
® Separate dining room * Jenn-Air, wall to wall pantry

FAMILIES LOVE IT
f Raise your family here. 4 bedrooms, 11% baths,
updated oright kitchen, full basement, waik to
m park, school.
. PEMBERTON HEIGHTS
a it :

2400 sq.ft., 4 bedrooms, 2% baths, cut-de-sc :
location. Large room sizes. Master bdrm., fut!
ensuite.

EXQUISITE OPEN PLAN

¥ 1 bedroom penthouse #1605 — $162,900.

seon. Must be sold. Open #1404-110 W. 4th St.

j Many updates — hardwood floors, bright kitchen,
B separate dining room — 3 bedrooms.

OFFICE
986-9321

. HOME.

929-7753
PAGER
645-3561

§ IMMACULATE FAMILY HOME — 4717 COVE CLIFF ROAD §
This home has been lovingly maintained by its original owners since day one. §
g Features include an 18'x13' master bedroom with 3-pce. ensuite, enclosed
s sunroom off dining room, honey-onyx fireplace, oak kitchen cabinets and Corian f
counter in kitchen. English ivy creates fairytale effect. Wickenden Park across §
the street creates a private atmosphere. First open Sunday 2-4. iB

BEST VIEWS IN
. THE WORLD!!
#1102-145 ST. GEORGES
665 roomy square feet with
views ‘that are out of this §
universe! Newer carpets
, and paint, building has new §
pipes; redone lobby, newer
roof, 100x400" property. A §
gold mine! CALL TO VIEW!

FARIMA
* ROBERYS
929-5577

GREAT OPPORTUNITY ‘
Sunny south exposure — 57'x134’ lot size -- 3
bdrms up & 2 down — 2 full baths — Updated
kitchens & baths — + 2300 4q,ft. finished —
Potential for a separate suite. 1070 Doran Rd.

TWO APARTMENTS SAME BLOG.
2 bedroom, 14th floor $174,900.
Breathtaking city views, rec. facilities. Must be

MELVIN
ZAMIS
623-5525

s _ 7 Pat | 3. mit

Yea Scr ae
PRIVATE, SUNNY, VIEW .
Large lot, generous 6 badroom, 3 bathroom, 2 §
kitchen, water & mountain views. New roof,
beautiful hardwood floors. Call for information.

‘LARGE RANCHER — BEST BUY