Dave Chilton

I'm pro-home ownership.

But I find it fascinating how when you sit down with very smart people, how few of them recognize how much they've had to spend on their home over the years in terms of ongoing maintenance, small improvements, and of course, major refurbishings.

They're completely out of touch with the math of that because in Canada, we have the tax-free capital gains on sale to principal residents.

You don't have to chronicle

your capital expenditures on an ongoing basis.

No, because the money's coming and going at different times.

You have to enter that into pretty advanced software to give you that number.

But of course you should be doing that.

Because you have to compare it to alternatives.

You should know to some extent.

And I couldn't agree with you more.

There's a real lack of knowledge on that front.

But even for homeowners, not for landlords, I find that they're out of touch with that.

Like, I can't tell you how many friends I've had say, well, I bought the house at $500,000.

I sold it at $1.5 million.

I tripled my money.

And then you say, remember, you did that.

$450,000 rental.

Yeah.

Yeah.