From the threat of implementing rental licenses to rising property taxes, landlords have to be more “neighbourhood specific” to ensure their investment property is hassle-free and cash flowing. But how do you know what neighbourhood to invest in?
Do high-paying tenants flock to Kensington or Wildwood in Calgary? Do families prefer Burlington north or the northeastern corner of this area? Is there really much of a difference?
With many regions undergoing change – both good and bad – investors are being urged to be as “area specific” in their investment decisions for 2015.
Stefan Aarnio, a local investor and real estate guru, points to potential growth areas in Winnipeg that other landlords are already eating into.
“Winnipeg’s downtown core is getting revitalized now with all of the money being pumped there. The next logical step in terms of residential development is Point Douglas,” he says. “There is a mix of everything there from infill housing to duplexes, so there are plenty of options for investors. It will be a few years before we see a revitalization of this area, but it will come so it’s good for buy and hold investors.”
Specific areas, such as Point Douglas, are listed in the new Top 100 Neighbourhoods to invest in by Canadian Real Estate Wealth magazine. Based on exclusive data from The Teranet – National Bank House Price Index™ and insight from local investors, experts and RE/MAX real estate agents, the report is a comprehensive location-specific guide.
“The changes we saw this year were surprising in terms of markets entering the top 100 for the first time,” says Canadian Real Estate Wealth Senior Editor Vernon Jones. “With that much change in the market, it`s even more imperative that we meet our mandate to arm real estate investors with up-to-date neighbourhood-specific information. The Top 100 does that.”
***The Canadian Real Estate Wealth Top 100 Neighbourhoods guide will be on newsstands this Monday, October 6. Subscribe here to get your copy.
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