All investor purchases are brokered by a licensed real estate agent, who is a member of the Canadian Real Estate Association and is bound by the code of ethics and fiduciary commitments required by Canadian law.
Are condo''s a good alternative to duplexing for high ROI? We don't think so. And here's why:
Builders in Toronto's frenzied condo market are walking away from giant towers they have pre-sold, reflecting a rougher road to profits -- and leaving buyers in the lurch.
Soaring construction costs and condo values in Canada's largest city, where prices have surged amid a booming economy and strong immigration, have spurred developers to cancel projects they started when construction was cheaper and pre-sales were less lucrative. more
Millennials are the driving force of the real estate market
Something to keep in mind when going into bidding wars; often the competition isn't just investors, but emotion-driven first time buyers.
Canada's millennials are focused on homebuying and their intentions are driving the real estate market.
A new report from mortgage insurer Genworth Canada reveals that 59% of millennials are already homeowners, with 30% having bought a home in the past two years (including first-time buyers and repeat buyers). more
Canada's rental shortage creates an opportunity
With many Canadians opting for long-term home rental rather than buying, there is an opportunity for real estate investors... if they get creative.
Toronto-based Starlight Investments says that rental supply is lagging demand with renting seen as a more affordable option for some, and essential for those unable to obtain a mortgage. more
The move to Kitchener
Kitchener is one of the upcoming markets we are beginning to look at for turning single family homes into duplexes. For those interested, the City has listed the requirements in a document you can look at here.
This home has been completely renovated upstairs with new white cabinets and original flooring. Downstairs needs a full reno job and since it's heated via oil, perhaps a change to forced air. But at this price, it's a prime candidate for duplexing.
The interesting thing about former student housing is that they often have two kitchens already. Makes reno's much simpler sometimes.
Interested in seeing some of the homes we think make ideal duplexes in Hamilton. We have a property tour Sat., June 2nd. Let us know if you want to come.