[ QUOTE ]
well, putting down 70%+ is not wise. One of the best benifits of RE is being able to leverage your money 5x or 10x. So if you put down 10%, and the property appreciates 5%, u just made a 50% return on your invested capital.
[/ QUOTE ]
Not really, you are still paying more than 5% interest on the 90% you borrow. If the property only appreciates by 5%, you would definitely be better off putting the money in the stock market instead. The real estate boom is over, and the gains of the last few years are far gone. Real estate is going to remain relatively flat for the next several years (In most U.S. markets -- I can't speak for Canada or other countries).
Also, it does not sound like OP can deduct the mortgage interest from his taxes in Canada. Correct me if I am wrong.
For a good article on renting vs. owning, please read:
Smartmoney.com article - Why I rent