Posted on: 14-06-09 15:42:21
I wish to invest in an income property which is residential . I was supposing a 250K house in Brampton which can generate a 2K monthly rental . Someone has advised me , that if I were to invest in a 400K property around Castlemoor , being a new area it has more chances of appreciation even when the time period may be 2 years .
Is this valid ? I was under an impression that appreciation is not high in the GTA and that the rental income from a 400K house (better neighborhood , other things being equal ) may be similar to a 250K house .
Is Castlemore an avant garde location and better than other older major areas in Brampton say Springdale ?
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Fido.
Quote:
Originally posted by pardesi_canadamein
So far our selection criteria is
1. Location - prime location or proximity to prime location
2. Neighbourhood - since our kids are grownup schools is not so imp but I like ravine or greenery and overall atmosphere of neighbourhood
3. LOT size and relative location of LOT like 3-side open etc
4. House age - between 5-8yrs since I plan to live atleast 5yrs so when i sell the house will be 10-13yrs old.
5. Merit of the house in terms of upgrades, and features....
Sometime a dream home comes as a package. That package might include components that you might, not hate, but you might consider it as an accessory.
You might want a 3 bedroom home with a corner lot, facing east next to a park or school with a finished basement. You might get that perfect home. But it is a 4 bedroom home or an unfinished basement.
What would you do? You are not totally against 4 bedroom home. So, this is a package. The 4th bedroom is kind of an extra thing that you are getting with all things that you love.
So, set priorities. What you can live with. And what you can't live with. Ravine v/s age. Lot v/s location. Once you have the priorities set, it's not that tough. It's just fail/no-fail at first look.
