Keping it Real Estate
hospital and within 10 years will include 1,300 multi-family residences, a public library, schools and 16 acres of green space which will all be serviced by Calgary’s Green Line LRT once complete. And, lastly, calculate how much income you will generate from this investment. What is the typical rent of houses in the area and how much will repairs and maintenance cost? home sales in the province rose 4.6 per cent in 2016 from a year earlier.
If the optimist in you is committed to investing in real estate, know that the key is location. Look for a home in a safe community, close to schools and amenities and in an area that has potential to grow. For example, the up-andcoming Seton development in Calgary is already home to the city’s newest Do you want to purchase a rental property? It’s a common investment and for good reason: it’s a tangible asset, less volatile than stocks and it’s for the long term. Currently, Alberta is a buyer’s market and it looks like it will be that way for a while: housing prices are down and the federal government’s new mortgage rules – an expanded stress-test to all insured mortgages – could further lower housing prices as some homebuyers will no longer be able to afford a down payment, forcing them to rent and making more homes available on the market. But an economic downturn can make it difficult to secure tenants and a house purchased at a bargain can further depreciate. Despite Alberta’s rollercoaster economy, according to the Canadian Real Estate Association,