Located just north of the Halifax metropolitan area, Bedford is a small but vibrant community. Many of its residents commute to downtown Halifax each day for work or school, and direct links are provided via Highway 102 and Halifax’s transit system.
According to data from Brookfield RPS, the town’s average price for a house is $328,670, a 5.56 per cent year-over-year increase. Bedford’s population has also increased by nearly 12 per cent over the last decade.
Bedford may be a smaller district, but it has a lot to offer its residents.
“It’s definitely a growing community,” says Matt Honsberger, an agent with Royal LePage Atlantic. “It’s one of the areas within the greater HRM that has grown the quickest.”
Proof of this growth, says Honsberger, can be found in the high concentration of new developments in the area. A new high school is being built, as are a number of new houses and commercial properties.
Bedford will soon be home to a number of new residential builds, and Honsberger indicates that newly-built, single-family homes offer the best investment opportunity. “The new constructions in Bedford West are particularly attractive,” Honsberger says. “There’s a condo development going up there, along with a few row houses, but for the most part, single-family homes are the best buy.”
Owning one of these new homes can prove to be very profitable for investors, as they command higher rents. On average, Honsberger says they can be rented out for up to $2,000 per month.
**Bedford West was listed as in the 2013 Top 100 Neighbourhoods listing by Canadian Real Estate Wealth. Subscribe here today.
A mid-sized city located on the south shore of Montreal, Brossard is gaining notoriety as both a great place to live and invest. It is also the home of Quartier DIX30, Canada’s first lifestyle centre, which features shopping, restaurants, entertainment and much more.
Prospective buyers are quickly taking note of the gains in Brossard, especially in the city’s southern district. Prices have increased by 4.36 per cent since 2012, and are currently holding at $390,000. Brossard has also seen significant population growth, as its population has jumped nearly 14 per cent.
One of the keys to southern Brossard’s success, says one expert, is its proximity to the island of Montreal, where many of its residents work or attend school. Montreal is accessible from Brossard using public transit and by three different bridges.
Newly-landed immigrant families, have been flocking to Brossard because “there is less crime, as compared to Montreal,” says Bernard Chan , an agent with Royal LePage Champlain, “and because of more affordable taxes.”
Investors looking to enter the Brossard market should consider looking at the city’s inventory of single-family homes. They are affordably priced, says Chan, and have the ability to produce some good returns.
“Single-family homes are the best buy in Brossard, and they generally rent out for $2,300 per month,” he says.
On average, rented single-family homes can earn investors $970 per month in cash flow, for a total of $11,640 annually.
**Brossard South was listed as in the 2013 Top 100 Neighbourhoods listing by Canadian Real Estate Wealth. Subscribe here today.
Located in Yellowhead County, Hinton is not an obvious investment choice with a population of less than 10,000, but the area is ready to reap the benefits of a proposed $1.5-billion thermal coal mine.
With Winnipeg’s downtown core undergoing redevelopment, investors have been flocking to Manitoba’s capital to snap up many of the new condo units that have popped up in the locality.
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Following the success of its consumer-focused advertising campaign heralding the benefits of independent broker advice, MCAP is now developing an enhanced program along the same lines for launch early next year.
“The campaign has always been about the brokers not MCAP and that’s why mortgage professionals appreciated it,” said Gino Tieri, VP of sales for MCAP, pointing to the company’s summer campaign, wound down last month. “That is why we are mapping out an improved campaign for some time during the first quarter of 2013.”
This year’s campaign, begun in August, included ads focusing on the theme Why a mortgage broker is a better deal for you published in On The Go, a free consumer magazine distributed all over the Greater Toronto Area; five-second spots running for four months on electronic billboards at Toronto’s Union Station; as well as pamphlets and posters, running on the same theme, for brokers’ offices.
Other lenders such as MonCana and MCAP’s own RMG ran similar campaigns promoting mortgage brokers this year, encouraging some members of the channel to suggest that lenders get together to launch a “collective mono-line campaign” for a nationwide media blitz promoting the channel.
“MCAP has been running programs to help brokers promote their business to their clients and community for years,” Tieri told MortgageBrokerNews.ca. “The program offers free tools that help them grow their brand.”
Among those is MCAP’s Key to Hope, a campaign supporting Habitat for Humanity Canada and offering brokers opportunities for community involvement and profile building. The lender’s Broker Advantage program is also helping mortgage professionals expand their market by providing marketing tools, support, and training on best practices.
Still, brokers are increasingly clamouring for the kind of direct advertising support MCAP and others are providing, arguing it’s the only real way to put a dent in the dominance of the Big Five.