This is an exciting time to invest in Toronto real estate. Here is why:
1. You are in control of your home, money and investment. How much control do you have on your traditional investments compared to your own home investment?
2. Your money starts working for you even if you buy a condo for $300,000. This will lead you to build wealth and afford larger investments in the future by:
a) forced appreciation
b) market appreciation
3. When you buy a primary residence in poor condition and plan strategic renovations two things will simultaneously happen for you:
a) Your home value will increase.
b) Your lifestyle will improve.
4. Leverage with the lowest interest rates to build your net worth without having to pay the full purchase price with as little as 5%.
5. Your return on equity is massive with the right investment strategy in real estate.
a) Resale or a pre-construction condo can offer great profit margins. Look for neighbourhoods where prices are still low, where there are future developments or transit infrastructure that will add value in the years to come. Or simply look for resale condos that are known to perform well in the market.
b) Freehold home prices in the 905 area dropped tremendously. This is an ideal time to consider upsizing and/or changing your life style.
6. With huge demand for condos, Toronto is fast becoming another New York City, however the property values are still far below New York’s market of course. Toronto’s average 10 year historical growth rate of 5% a year simply tells us that investing in Toronto condo market is wise.
7. Begin to build your portfolio of investment properties by leveraging a portion of your home equity into a second investment property.
8. Demand for rental properties is increasing.Toronto’s growing immigration and tech industry bring a great number of qualified residents to the city. You can benefit from a top quality tenant for your next income producing property.
9. Your real estate investment is safe with Canada’s lending practices and ongoing rigid mortgage regulations securing a very low (0.3%) delinquency rate.
We can help you plan a long-term real estate investment strategy based on your current income, your savings, your availability and property management skill set.
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With love and gratitude