Spring makes us think of planting seeds. Sometimes, they are literal, like the wildflowers we planted at the foot of our front lawn a few weeks back. Often, they are symbolic, as in the seeds of wisdom, or of investments.
In this edition of Smart Moves, we’ll look at Toronto and the surrounding area in terms of how sewing those seeds has paid off for investors in the condo market, and where to potentially plant some other seeds in the investment/rental property markets close to home.
As always we welcome your feedback good or bad. We hope you think of us first when you or your friends, family or colleagues need to buy or sell your next home, condo or investment property.
Click on the link below to view our Spring Newsletter.
Comments
There are a number of features to consider when purchasing rental property.
One of these is sustainability. The home
should really be in good shape. You should go through the bare bones of a home:
the roof should be in good repair, the floors should be level, the pipes and
electrical should be in good working order. Also, when you
make an offer on a house it should be contingent upon acceptance of a property inspection.
Secondly, location of the property is very critical.
Location is essential to many rental properties. You need to make sure that you property is near popular retailers, schools, and service providers that your potential
tenants will want to visit. The average income in this place also plays a part.
This really is different from physical location, as you ought to keep in mind that a high rent area is unquestionably a better location than the usual low rent
area. Persons in high rent areas are not going to be as focused on location as persons in areas where rent is lower.
It really is rather common and well advised to have an
inspector examine the location before you purchase any realty that is held your attention.
A home inspector will check out every part of the property to make sure that you are not purchasing
a house or apartment with serious problems that are hidden.
Not only do surprise renovations cost you money you do not need to pay, if they are really serious, you might
have to find yet another place to call home while the job has been done.
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