Have you thought about buying investment property in Calgary? An investment home is a property not used for a primary residence but for the owner to generate income. Investment properties are defined as purchased to help earn a return on investment (ROI) through future sales, rent, or both.
A Local Mortgage Brokerage Can Help
It would help if you considered several things to have the best mortgage rates and overall experience when shopping for investment homes in the Calgary area. As a foreigner, you want to keep the following in mind:
- Property Location – A mortgage broker near you will be able to tell you that all prospective tenants are looking for homes close to amenities, hospitals, schools, etc. It will be an added advantage if shopping centers or restaurants are close by. Choose a home that provides facilities that possible tenants will be looking to find.
- Know Your Goals – Are you hoping that you can take a few vacations each year, so you wish to make extra money? Do you want real estate that can become your main source of income? Will you be looking to retire early? All of these questions, and more, will help you define your goals when buying investment property in Calgary.
- Anticipate Additional Expenses – Good mortgage brokers and agents will let you know that the costs involved with buying an investment property go further than the sale price itself. When formulating your budget, you will need to think about property taxes, necessary repairs, marketing costs for possible buyers or renters, and a rainy day fund that will be helpful in leaner times.
Did You Know?
When working with a Canadian mortgage corporation, you should know that Canada welcomes home buyers from all over the globe. In addition to that, they also place zero restrictions on the kind of real estate or how much you wish to purchase. Keep in mind that some lenders may restrict how many properties they finance per individual and that immigration to Canada can be complex.
Time to Choose
Whenever you can, view all possible properties in person. If you are going to be in the Calgary area, your real estate team can work with you to do a walk-through of some of your top options. You can then make an informed decision on the perfect investment property to give you the ROI you deserve.
Why Mortgage Design Group, Inc.?
We are here to make your mortgage easier, more exciting, and everything that you want it to be. This is your journey to investment property ownership, and our team has all of the knowledge and experience you need to make this process as smooth and pain-free as possible.
Is it time for you to begin the process of buying investment property in Calgary? Get in touch with us by calling (403) 942-4099, and we can go over why we are the best when you want an excellent mortgage experience. Get a free, accurate pre-approval now by clicking here, and you will be on your way to becoming the proud owner of an investment property in the Calgary area!
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