What to know about investing in the Ottawa Real Estate Market?
We all want to be standing on a solid financial foundation, but that isn’t always the case for most
of us. Millions of people live from paycheck to paycheck; many households have $1,000 or less
in savings; and countless individuals don’t pay their credit card balances each month. It’s time to
face your financial fears - trust that it can absolutely pay off. We’re all aware of the simple tasks
such as tracking monthly expenses and balancing your checkbook in an allowance for you to
decide where you want your money to go. Currently, there is the possibility of a bigger option -
Experts say low home prices combined with low interest rates make this the best time in years
to become a real-estate investor. Now is a great time to invest in a rental property!
If this is a direction in which you are thinking of heading, keep these points in mind:
Know your options Not all investment properties are the same, so it’s important to determine
what type of property fits your strategy. First-time real-estate investors may want to start with
residential housing, since commercial real estate and land development still face challenging
Real estate is less complex than other investments A great advantage of real estate is its
simplicity. Market factors that shape the performance of real estate values are pretty basic;
space is limited; and, population is growing. As more people are competing to find living space
in a finite supple of property, values will rise.
Partner with experience First-time investors should find a real-estate agent experienced in
investment property deals who can aid in the location of promising properties.
Equity The great thing about real estate holdings in the equity it provides investors. As the
equity grows, you will qualify for large low interest rate loans. Therefore, as your original
property continues to appreciate in value, you have access to more capital to invest in other
wealth generating instruments.
Look for the right location If you buy a property with hopes of renting it out, location is key.
Homes in high-rent or highly populated areas are ideal; stay away from rural areas where
there are fewer people and a small pool of potential renters. Also, look for homes with multiple
bedrooms and bathrooms that have a low crime rate. The more you have to offer, the more
likely you are to please potential renters.
For more information on Investing in the Ottawa Real Estate Market visit our web site at www.WeKnowOttawa.com or Call the Hamre Team at RE/MAX metro city realty. Ask for Greg Hamre or Steve Hamre (613) 841-2111.