Residential or Commercial property in British Columbia for sale
With British Columbia's population increasing non-stop over the last ten years and the upward trend still continuing, it makes good sense to invest in rental properties. Adding real estate to the investment portfolio not only makes it more diversified and therefore better balanced, but also the appreciation has shown to be more rewarding than many types of investment.
It is important that a rental property can collect rent to at least cover costs. Your financial advisor will calculate for you the best price range with which you can wisely invest without upsetting the healthy balance in paying for mortgage and collecting rental income.
Greater Vancouver has long been the "blue chip" rental investment market. Not so anymore. With real estate prices sky-rocketing, it is getting harder to find properties that yield enough rentals to cover mortgage. Exceptions may be small-sized apartments in new developments.
Surrey, Abbotsford and Chilliwack currently still make good markets for investing in rental properties. Whistler, Kelowna and Kamloops are three cities fast expanding, leaving the status of "resort towns" and becoming real urban centres. A little up North, Prince George may makes one of the best investment bet in the province. Not to be dismissed are cities in Vancouver Island, Victoria, Nanaimo being two important ones.
Growth in recreational property investment is on the rise. British Columbia's beautiful natural scenery and diversified recreational activities have attracted local retirees, migrants from other provinces, and affluent overseas investors.
Do not overlook the tedious work of rental property management. Screening for the right tenants, allocating responsibilities, taking care of the property, keeping good account, all take professional level of dedication. Including the cost of hiring a property manager from the very beginning of your plan may turn out to be more profitable for your investment.
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