Calgary Real Estate Investment – Is Now the Time to Start?
Investing in a real estate property is an old method of investing. To this day, it remains one of the most profitable investment options.
You may have heard of this kind of investment before, and if you are looking for ways to supplement your income, it can prove to be a very effective way to do so.
There are many ways to go about investing in real estate and paths to turning a profit. Some prefer residential investing (homes) while others prefer commercial (office buildings). Some people choose to go for a longer-term approach (Buy & Hold) while some prefer a shorter-term investment (Buy & Flip).
The method for investing in a property largely depends on your specific situation, what your goals are, and where your strengths are at. For example, although many of these ways can turn a lucrative profit, you may find that one method suits your lifestyle and skill-set more than another.
When it comes to Calgary real estate investment, our team has an experienced background that we bring to each opportunity. With a great knowledge of the local area, we help our clients set themselves up with a promising strategy that will help their investment flourish.
Through the first 10 months of 2017, detached home sales in Calgary were up 4.5% and the average selling price was $561,632, a boost of 2.8% compared to the first 10 months of 2016.
Homes have been selling at a faster rate this year, too. Detached homes spent an average of 37 days on the market from January through October of this year, nearly a 12% drop over the same period last year.
Apartment sales and attached home sales have been experienced increases this year as well. Apartment sales have jumped 3.7% compared to the same period last year while attached home sales have increased 7.8%.
To summarize, home sales are on the rise in Calgary and we can expect the trend to continue heading into 2018. If you are considering investing in local real estate for the first time or simply want to expand on your investments, now may be the perfect time to do so.
With oil prices recovering after struggling through much of 2016, the real estate market may finally be recovering itself. Does this mean that prices are going to continue to rise? Will sales continue to grow monthly and yearly?
Speaking with a mortgage broker and Calgary real estate investment professional from our team can help shed some light on some of these questions. If this is something you are interested in doing or learning more about, reach out to our team today and set up a meeting!