Play to your natural strengths and be mindful of your weaknesses when selecting an investment property. A small building with a mix of tenants may be more appealing to someone with an accounting background. However, a weekend “handyman” may prefer a property that requires more renovations.
Is it a good time to buy an investment property in Oakville? Purchasing a property in Oakville can be a rewarding investment over the long term. Oakville’s Gold Standard reputation for real estate in the GTA helps investors weather down-turns and market softness. In addition, the town’s plans for residential and commercial development, and re-development bodes well for the future local economy. Working with the right real estate professional will help you find a solid investment property
Before you purchase, accurately estimate the property’s expected rental income and assess whether it has deficiencies that may cause hurdles when it’s time to find a tenant. An Oakville real estate salesperson with extensive experience renting homes is invaluable in this task.
Recognize that markets change from year to year and throughout the year, as does the demand for particular neighbourhoods and types of homes. Working with a real estate professional who understands the importance of timing in the marketplace is essential.
Where do I invest? There is no single answer to this age-old question. Finding the right location is based on several important factors in the buying process. However, it is essential that the home have the built-in ability to attract excellent tenants in good economies and bad, in the height of summer and the depths of winter.
Work with an Oakville real estate salesperson with a thorough knowledge in both the rental market and the marketing of rental properties. The two go hand in hand, and being expert in both is essential to providing you the best service and advice. Be wary of anyone willing to sell you the property but not take an active and authoritative role in securing tenants.
