Are you thinking of investing in real estate? If so, there are a few easy steps you can take to help you find the best investment property for your money.
Here are some tips on how to find a profitable investment property in Calgary that will not only provide immediate financial benefits, but also for years to come.
An Attractive Location
Location is everything in real estate, especially for investment properties. Finding the right condo or home in an appealing location is a must if you want to maximize your profits.
Here are some features of an example investment property in Calgary that would generally attract much interest from renters…
- Good street location away from busy roadways
- Underground parking or some other form of “off-street” parking
- A decently sized balcony space
- A great view of the city, foothills or Rocky Mountains
Another thing to keep in mind when it comes to location is to find out about future developments in the area. A new high rise condo in front of your investment property could take away a great view, cause noise during years of construction and lower its appeal.
Finding an investment property in Calgary with good appreciation potential is a must! Ok, this one might sound a bit redundant because all investors are looking for such a property, but there are definitely some things to look out for!
One of them is the location (mentioned above) and the community. Ideal communities for investment properties would be in “up and coming” areas with future infrastructure improvements such as an LRT station and recreational facility.
Additions like these can definitely help appreciate your investment property, bolster its appeal for renters and if the market allows, to increase the monthly rent.
Well established and popular neighbourhoods in highly walkable areas, such as Connaught for example, are also great places to invest.
Another way to appreciate the value of your investment property in Calgary is to do some renovations. There are lots of properties on the market that have never been renovated and with great locations.
If done right, it’s likely you will see a great increase in value, although this differs from property to property.
If you’re not exactly sure about the potential value some renovations would bring on a property, its best to contact an experienced REMAX real estate agent who can help you determine your best options. Find out more at Calgary Real Estate Investments – Working With Cody.
There’s a reason why cheaper properties are cheap. It’s likely that they aren’t as in high demand for a number of reasons, so buying the lowest priced property isn’t necessarily the best way to go.
It can be beneficial to pay market price for an investment property in Calgary rather than buy one that nobody wants to live in.
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…from an experienced Calgary REMAX Realtor today! Call me anytime at 403-370-4180 or message me below – I would love the opportunity to help you accomplish your investment goals!