As compared to last year’s analysis, the average house sale prices are 3.6% higher at $957,000, condos are 4% at $371,000 and townhouses goes down 6% at $584,000. This way, East Vancouver is enjoying substantial benefits and many real estate investors are heading towards this neighborhood. In May 2013, the average price of Ajax real estate listings is clocked in 5.7% at 332 which is higher than last year. In December, this was gone up only by 125 which is quite equivalent to May 2011. Since remarkable upward climb of sale prices in December, the listing prices at East Vancouver came down by 3.7% to 1428 in May. Some Investment tips in Rental Property This time seems to be perfect to own a property in East Vancouver. Owning Ajax condos for sale and renting it for investment is one of the widely used strategies in investment. There are many real estate investors enjoying a remarkable ROI in holding the best possible assets. Also tens of thousands of intelligent investors across Canada not only getting mortgages and rent from their properties, they are also earning extra income. This type of investment is really a great idea to generate substantial wealth for your happy retirement. These are some tremendous upsides in this type of real estate investment. But don’t underestimate some downsides. Investment in Commercial or Residential Property You can either choose commercial real estate property which could be office, shop or a huge building, or residential property which could be apartment, condos, houses or multi-family apartments. Controlling expenditures, maintaining property, and regulating the burden of mortgage costs are the keys of successful investment in both commercial and residential property. Searching for renters If you have a property, which is located nearby university or college, finding students as tenants is not so difficult. Also, students are trustworthy to get timely rents because their parents are also signed for it. Controlling expenses: A significant amount could be added as your expenses of home insurance and property taxes. Hence, controlling them is critical. Maintenance: Repair bills can grow up significantly due to lack of interior maintenance and attack of rain, insects, moisture etc. Controlling mortgage: If rate of interest increases, the payments for mortgage will also rise frequently than your capacity to raise the rent. After all, your renters will only pay your rent, not mortgage to earn you profits. Also, you will be required to cover capital gains taxes in this way. Visit markten-pow.ca to know more about Ajax real estate listings and Ajax condos for sale.
Related Articles -
ajax, condos, for, sale,
|