REAL ESTATE REMAINS CANADIANS STRONGEST INVESTMENT OPTION
Real Estate, both personal and commercial has always proven to be one of the strongest investment choices that Canadians can make, particularly in recent years. About half a decade ago, financial planners and advisors were in search of a strong investment option for clients that could yield high returns that didn’t cap at 2% per year. The epiphany they encountered was Real Estate.
Real Estate can provide investors with both long term or short term profit opportunities depending on the goals of the buyer. For those looking for a quick turn around, “flipping” a home or purchasing a rental is advisable. For those looking for a more long-term investment, buying in areas that will be desirable to development investors would be the best decision. Development investors are in search of raw land near major cities and highways that they can turn into residential communities or commercial properties. Some advisors estimate a 50% return on these types of sales.
In Burlington, Oakville, Mississauga and Toronto the price of homes has continued to grow steadily for the past decade making them all attractive destinations for Canadians interested in Real Estate. For March 2016, the average price of a home in Oakville was $1,027,834.00 up from $823,064.00 in the same month the year before. The REALTORS® Association of Hamilton-Burlington reported a total of 1,482 sales for March 2016 which is the highest the region has every seen. Total number of sales in Mississauga is up nearly 30% from 2015, and Toronto saw nearly 100 homes sell for over $2,000,000. It is safe to say that investing in these areas would yield buyers with strong returns.
The luxury sector of the Real Estate market has not seen the same increases in 2016 as other areas. Homes in Burlington, Oakville, Mississauga and Toronto priced above $2,000,000 have not risen as drastically as homes less than $2,000,000. With this in mind, now is the opportune time to buy if this is the market you have been browsing in.