A great way to make money out of an investment property or a recreational property is to rent it out. The rental market is big in Calgary, because many people seek temporary residence here before buying. Calgary also has a massive student population, many of which need spaces to rent for the school year and summertime. This means that if you have a nice property, you can easily make money that will help you repay what you spent on the space.
Secondary suites will add tremendous value to your property should you sell one day, and are a fantastic way to help pay off your mortgage faster. There are many rules and regulations you need to be aware of if you want to rent out a legal suite, so make sure you do some research!
An investment property can be a property you use yourself (such as a vacation home), a property you lease to others (such as renters or a business), or a property that you fix up and flip for an immediate return. Whatever you plan on using your investment property for, consider the following:
Purchasing an investment property is a major decision, so don't rush it! Take the time to think critically about if an investment property is right for you, what kind of investment property is right for you, and, when you find a property, if it is the best investment property for you. There is absolutely no need to rush! Take your time so that you can be 100% (or at least 99%) confident in your end decision.
Can you believe that summer is almost over? In two weeks classes will be starting and schedules will go back to normal. While here at Team Ken Richter we are determined to soak in every stray ray of summer available, we’re gearing up to help prepare you for the fall. After all, it will be here before you know it.
One thing that happens at the end of summer is students move back into the city. As students begin pouring back into Calgary to begin a new semester, the rental market spikes. Not only must renters find a new property, but in many cases people need to find new roommates. While there are some single occupancy properties in Calgary, the majority of suites for rent are designed for two or more individuals. Picking a roommate is a crucial
Infills are becoming increasingly popular for homeowners across the world. An infill is a home that is built on an existing property lot, often following the destruction of an older structure. Infills are new homes in old neighbourhoods. As the subarbs sprawl further and further away from city centres, infills are becoming an increasingly attractive option for homeowners looking to remain central.
Here at Team Ken Richter we serve homeowners all across the city, but specialize in the communities of Bowness and Montgomery. These two communities are rich in history and thus filled with old structures. Therefore, infills have become very popular for people wanting to own property in the area but who are seeking more modern structures. If you’re thinking
Congratulations, you have decided to purchase a home! Whether you are planning on purchasing the property for personal use or as a rental/investment property, there is a lot to consider. You may feel overwhelmed as you begin to consider all that goes into purchasing a home: finding a real estate agent, getting a mortgage pre-approved, dealing with your existing property (or properties), etc. However, done of these are as important as figuring out the following:
What your wants are in a new property, versus what your needs are in a new property.
Deciding what your wants are versus what your needs are is crucial in making sure that you find the best property for you. While you may be inclined to wishfully think you will find the perfect property
With the advent of the digital age comes a series of tech innovations aimed at making life more efficient. From searching for the best pizza place in town to messaging thousands of friends and family at once, the golden era of the internet is here. Love it or hate it, it is not going away anytime soon.
For homeowners, the advancement of technology has helped them better find service providers for their property, secure their property, keep tabs on their property and easily access important property guidelines and documents. Most agree that these advancements are generally positive, but there is one new app that people are split on: Airbnb.
Airbnb and services like it are designed to enable homeowners to rent out their property, either a single room
If HGTV is any indication, people love the idea of renovating a home. Shows like Fixer Upper and Property Brothers are wildly popular, audiences tuning in every week to see neglected homes turn into dream homes. There's something about an underdog that people love to root for--homes included.
These shows are inspiring. They make fixing up a home seem easy! You drive past an old house and say, "some exposed brick would do that property wonders," or, "it's got great bones - imagine what a fresh coat of paint could do!" Don't let the edited smiles of Chip and Joanna Gaines fool you; renovating a home is hard work. It can be incredibly rewarding and profitable, but you should know these things before making an offer on that shack down the street:
Last night "approximately 125 people were forced out of a building in Kensington ... after it was determined it was at risk of collapsing... Residents at Kensington Manor had only 15 minutes to gather their belongings before leaving" (Global News Calgary). As the tenants and landlord of this building grapple with this potentially devastating situation, we are all reminded that renting is not always picture-perfect.
Many people pursue investment properties that they can rent as a form of supplementary income. Real estate is a wonderful place to invest your money and (potentially) see a massive return. However, renting a property is not as simple as finding a tenant and signing a lease.
Others turn to rental properties as a place to live before they
August is one of the busiest times of the year for rental properties. This because one major portion of renters are students preparing to go back to school in September. With so many people looking for affordable housing in Calgary, renters and landlords need to be informed.
Renting is a great option if you are not planning permanent settlement in the location or if you cannot yet afford to purchase a home. Renting gives you the freedom to negotiate terms (such as payment, length of stay, etc.) and allows you to "shop around" until you find a location you want to stay in permanently.
If you are planning to permanently live in the location and can afford a down payment on a house and a mortgage, we highly recommend you look into purchasing a
Spring has arrived in Calgary! The grass is green and the flowers are in bloom. People are beginning to venture outside and play again as Calgary warms up for the summertime. Another thing that is warming up is the housing market.
Spring is always the most popular time in real estate. While other times of the year experience peaks in the market, spring is consistently active in the selling, buying, investing and renting sectors. There are a number of reasons why spring is the most popular time to enter the market.
Read on to find out why and how you can reap the rewards of such an active time in real estate.
First and foremost, the timing is ideal. Spring is a time of change and transition. University students are moving for the summer or
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