Canadians Can Build Wealth with an Investment Property
April 21 2015 Posted by Tracy Bennett
Across the country, ordinary Canadians are building personal wealth with investment property. An investment property is being increasingly viewed as a pension plan for the future, particularly since so many Canadians are not covered by workplace plans. Over the long term, an investment property can be a great source of retirement funds. Rental income typically pays for most or all expenses and property appreciation has often outperformed stocks and bonds over the long term.
This is not just an investment for well-established business people and experienced homebuyers. Savvy first-time buyers are often jumping in with both feet: purchasing a duplex or triplex, and then managing the additional units to pay down the mortgage while they make a start on home ownership. And parents who add up the cost of accommodations for their college-bound children are often deciding to be landlords themselves, seeing an opportunity to offset the cost of housing with a sound investment.
There are many reasons to consider investing in property. If you are thinking about building wealth with an investment property, talk to us. We can help you determine your down payment options and run the financial calculations that you’ll want to see for cash flow and capital appreciation.