- Team BobCat Mortgages
Top 6 Benefits Of Buying An Investment Property
It is possible to develop long-term wealth via passive income by purchasing or holding investment properties. Consider an investment today while interest rates remain at historic lows. Affordable rental housing is becoming more necessary as home prices rise throughout the nation.
For many decades, renting has been a popular housing option for singles and young couples and families.
Advantages of buying an investment property during winters
may provide a steady stream of income
rise in value in real estate in Ontario
your are your own boss
rent will cover most of your mortgage payment
renting your property make sure it's maintained properly
always an option to move back home
Let’s take a look at some benefits as a landlord in today’s market
1. May provide a steady stream of income
Investors and mortgage agents in Ontario wishing to diversify their portfolios will find this an enticing advantage. Renting out a property may bring in a steady income each month for very little work. Rental properties are a good option for a wide range of investors, whether they want to supplement their primary source of income or build a diversified portfolio. On the other hand, due diligence is critical in establishing a property's profit potential before acquisition.
2. Rise in the value of the real estate
It's not uncommon for rental homes to increase in value over time. For investors to reap the benefits of this increased value, they may either buy more property or sell their current property. Opting for a mortgage agent in Ontario is an excellent option for those who don't have the time.
Team BobCat Mortgages is here to help you find the perfect mortgage solution for buying your investment property. As a result, it is critical to do thorough market research before deciding on where to invest.
3. You are your boss
Investing in real estate gives you the luxury of not working. It is an excellent passive income opportunity, which you can multiply over the years and become a full-time real estate investor. You can even expand that into a business and hire staff to take care of the maintenance calls, paperwork, and rent collection.
4. Mortgage is paid for by someone else
With the incoming immigrant population, there’s going to be a huge demand for rental properties and especially, condos for sale in GTA. The rent you’ll earn every month should be sufficient to cover the monthly mortgage payment and yet leave a profit after costs.
Refinancing or selling the property might release more of the home's worth in the long run as well.Use our mortgage calculator in Ontario to how much mortgage you can qualify for.
5. House gets maintained
To get a job, some individuals need to relocate temporarily. Others inherit a family house that they don't want to get rid of because of its emotional value. People may find themselves with an empty home for several reasons. When a house is left unoccupied, it is vulnerable to vandalism and squatters, as well as overlooked maintenance concerns that may swiftly turn into worse difficulties. It's challenging to keep an eye on a house that you don't live in.
When you rent out your home, you can be confident that it is adequately cared for and maintained. Also, it is the best option for investors with a second mortgage. You can choose to flip an unmaintained home after renovation for top dollar.
6. Moving back home is always an option
It's comforting to know that if you need to relocate for work, you'll still have a place to call home when you return. Of course, you'll want to examine your state and local housing rules and adhere to the conditions of your present renters' leases before you buy a home.
Savvy landlords know that investment properties have both advantages and disadvantages.
One thing is for sure: People will always need a place to call home. Investing in a property may be both financially and personally rewarding.
For all your mortgage needs, contact Team BobCat Mortgages at teambobcat5555@gmail.com. We can get you approved for a second mortgage for your investment property in just 48 hours.