Buying An Investment Property – Do You Pick Victoria Real Estate?
When it comes to buying an investment property the question always comes up; Do I buy Real Estate In Victoria or….. Where else can I buy?
There is no doubt that that real estate is fairly expensive in Victoria, but if you had bought a property five years ago it has probably double in price by now. Victoria has as a rule very low vacancy rate, below 1%. This makes buying real estate in Victoria a sound investment. We are not talking about a big prestigious property, just a nice little house.
Now then, I can not come up with a $100,000 down-payment you say…. OK, how about $25,000 instead? There are many great small cities on Vancouver Island where you can invest. Many of these towns and cities have almost 0% vacancy. We will explore some of these cities over the next few weeks and look at the options. Just to give you an idea, how does a price of $220,000 for a three bedroom rancher sound with a rental income of around $1200 per month? Not bad in my opinion.
You may say, that you do not want to be a long distance landlord? Keep in mind, that some of your trips, food, cost of vehicle etc. to check on your investment property is more then likely tax deductible. Spend a few dollars and have a chat with a good accountant. There are many benefits of owning real estate investments.
In future blogs we will discuss some of the benefits and how to find a great investment property. We will further explore our beautiful Vancouver Island, a real estate investment paradise.
Cheers,
Bill
Bill Ethier B.Sc – REALTOR®
Properties in Victoria Professionals- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.
