Real Estate Property ownership is an excellent investment whether you’re looking for your dream home, an investment rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return in general on your initial investment — as long as you’re financially ready.
The Canadian Mortgage & Housing Corporation (CMHC) recommends some things that you should consider when deciding to buy:
- Financial Security: Your home can provide you with financial security due to capital appreciation — as the value of your home increases over time, so does your equity.
- Stability: Having a place you can call your own.
- Financial Stress: Added financial responsibilities such as: coming up with the down payment, making regular mortgage payments and ongoing costs associated with home ownership can tie up a lot of cash and put stress situation on your finances.
- Maintenance: Maintain your home well requires time and money.
- Responsibility: You alone are responsible for payments, repairs, and maintenance.
- Flexibility: You can decorate or renovate your home to meet your family’s needs and personal styles.
Would you like more detailed and personalized information about buying, including a read of our VIP Buyer Information Guide? Contact the Lotus Yuen Team for a free buyer consultation with lot of useful information to purchase a home and market update.