Choosing the Right Investment
There are plenty of opportunities to invest in the Toronto real estate market. Finding the right one is not always an easy choice. For example a seasoned investor would be interested in multi-residential homes, flats or buildings. The average investor may find themselves purchasing a home with a basement apartment or a condo. The choice will always be guided by a financial decision. Here are a few reasons as to why investments might be the right solution for you to buy into:
- Short-term Monetary Gain
One may purchase a new build condo with intentions to sell after 5 years.
- Purchasing a Condo for Your Child's Future
Some parents purchase a bachelor condo with the intention that their kids will have a place to live rent free while attending University or College. It is a practical move that allows the mortgage to be paid while the child is growing up from rent collected.
- Mixed Use
For some investors having a commercial tenant is a form of long term security. While they also rent out the residential units. Multi residential units are prone to having vacancies throughout the year. Typically residential tenancies last approximately 16 months.
- Retirement
Planning for retirement is an obstacle we all must plan for at one time. Once retired our income may not be the same as it was previously. Having a rental income will help subsidize your retirement and if needed can be sold.
- Tangible Investment
Having a property for an investment is a tangible object one can touch and work on. It can be liquidated if needed and allows the owner to have more control over their investment. From a comfort perspective there are those that would rather not invest in the stock market as it is impossible to predict and not so easily able to liquidate stocks. That being said, stock markets and real state markets tend to do well when the other isn't. A healthy balance of both types of investments can be beneficial.
The Toronto condo market offers
great real estate investment opportunities!
Get the scoop on all the Toronto condo developments in the Toronto Condos section of our website!