More Canadians are purchasing investment properties and here’s why:
Return on Investment: Residential real estate is a solid estate investment, typically appreciating faster than inflation.
Pension Plan for the Future: Over the long term, an investment property or multiple real estate holdings can be a great source of retirement funds.
Earlier access to a 1st home: For first time home buyers, a duplex or triplex can be a terrific way to get into home- ownership. Rental income from the extra units can be added to the mortgage application and used as income to help you qualify
What You Need to Know About Investment Properties
- A minimum down payment is required
- Once you have more than 4 properties, you may need to look at different lenders
- Even if the unit is not currently rented you can use projected rent as income on the application
- Mortgage rates are slightly higher on rental properties