Investment Properties
Rita Cousins Senior Mortgage Advisor • September 16, 2019
More Canadians are Purchasing Investment Properties
Here's Why
Return on Investment
Residential real estate is a solid estate investment, typically appreciating faster than inflation.
Better alternative to student residence
Many Canadians are sending their kids to university and college away from home. Housing them in an investment property purchased specifically for that purpose is a good option.
Pension plan for the future
Over the long term, an investment property or multiple real estate holdings can be a great source of retirement funds
Earlier access to a 1st home
For first time home buyers, a duplex or triplex can be a terrific way to get into home-ownership. Rental income from the extra units can offset the cost of the mortgage.
What you need to know about investment properties
- A minimum of 20% down payment is required for an insured lender.
- Less than a 20% down payment will incur higher interest rate with an uninsured lender.
- Once you have more than 4 properties, you will need to spread your mortgages across several lenders to avoid reaching maximum number of mortgages per investor that a lender will approve
CALL ME IF YOU ’RE INTE RESTED !
Rita Cousins Senior Mortgage Advisor
C 604 230 9206
F 1 877 282 0857
mortgages@ritacousins.com
http://www.ritacousins.com
Holiday magic is happening all across the Fraser Valley this season. From tree lighting ceremonies and festive markets to concerts, parades, and family-friendly celebrations, there's no shortage of ways to embrace the spirit of the season. 👉 Guide Here
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). 👉 Read the Article Here 
Every January in BC, BC Assessment sends its valuations to property owners. These letters form the basis of property tax values on real estate across the province. They are based on many factors, but sometimes the assessed value may come as a shock to you. If this is the case, and you feel the assessment is incorrect, you can file an appeal. Why your BC Assessment value may not be what you expect. To help equip yourself for the best chance of success during an appeal, it’s best to review some reasons why your assessed value may not be what you expected. BC Assessment bases its valuations on the following factors: The location of the property. That is, how desirable is the place it’s located? The size of the property. Is it a tiny house or a multi-room mansion? The size of the lot. Is it a small lot, or a massive multi-acre estate? View from the home. A mountain view is worth more than a line of dumpsters. The property age. Is it newly built or an outdated structure? It could also be historically valuable. Home add-ons such as carports, garages and decks. The sales’ prices from similar homes in your area. In essence, that means that surrounding properties can have an impact on your property value, in addition to your own property. For example, if all your neighbours improve their properties by renovating their homes, upgrading landscaping and similar efforts, this could increase your assessed value as a knock-on effect. In situations like this, filing an appeal to show that you didn’t undertake similar efforts could help your appeal succeed. 👉 Read the Article Here
