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Investing in Property
Investing is a big step for many people, and making the right investment is crucial. Contemplating the future and trying to determine if an investment product is a good long-term investment is not as easy as it sounds. For many, purchasing property is that lucrative, long-term investment. Property investment can be wise whether or not you make the property your home or choose to rent it to tenants. No matter how you use the property, real estate is a valuable asset that will virtually always make money in the long-run.
When investing in property, the following should be considered:
- Selling your property - When real estate prices are high, selling your property can offer you a significant return. After paying off the remainder of money owed on your mortgage, the profit is tax-free and yours to spend on that next great investment.
- Renting your property - When renting out your property, the mortgage payment is being made for you while you earn money on the investment and amass equity. Depending on rent fees, you can make some substantial additional income over the long-term while you decrease the remainder of your mortgage.
- Owning your property - When living in your property you also have the ability to borrow from the equity it builds when additional finances are required. In utilizing your property's equity, your repayments are not likely to be affected and you can use that money to reinvest.
Investing in property is definitely a great way to generate funds, especially when you acquire thebest terms and rates in Canada on your mortgage.
|Mortgage Product Type||Inquiries|
|First-time Home Buyer||17.26%|
|No Money Down discontinued||11.65%|