As a property investor, you’re always watching market trends to decide the best time to buy for the highest rate of return. While it’s true that Edmonton’s real estate market has experienced some volatility over the past 15 years, good news for investors is on the horizon.
Choosing between a condo and a single-family home as an investment property can mean weighing a variety of differences between them and deciding which best fits your investment goals. Knowing the pros and cons of each property style, as well as what to watch out for, will help you get the financial results you’re looking for in your investment property.
Choosing a condo to invest in means finding one that attracts quality tenants. Finding renters who pay on time, every time, are willing to pay the rental amount you want to charge, and who will stay for the long-term is key to a successful investment. By choosing a condo that offers specific types of features, you’re more likely to attract these quality tenants. So, what kind of features should you look for in a condo?
When making your decisions on what type of condo to buy as an investment property, it’s important to consider the type of tenants you want to attract. To maximize your return on investment, you’ll be interested in high-quality tenants that pay on time, care about your property, and love where they live so they stay for the long term.
When choosing a condo as an investment property, the bottom line is the most important factor in your decision. Since your investment is only a success if you’re profitable, there are things to consider to ensure that your new property provides the kind of return you expect.
There are many decisions to make when deciding on the type of investment property to buy. What kind of tenants do you want to attract? How much time do you want to invest in regular maintenance and handling issues? What locations will be better suited to your ideal tenant but also convenient for you to manage?