Buying a Home vs Buying an Investment
As prices in Vancouver have decreased but rents have stayed high we have seen an influx of first time investors. Buying an investment property is very different, however, then buying a home. When you buy a home you look for things you like and that you deem important; square footage, a large deck, granite counters. When you buy an investment property things like rent potential, maintenance fees, and proximity to transit are much more important then a beautiful kitchen. Location and amenities are also huge while square footage is often not the biggest factor. For example: A 500 square foot one bedroom condo in a great building in Yaletown will typically bring in more rent then a 700 square foot 2 bedroom in Marpole.
If you're looking to get into the investment market some great buildings to look at are:
- 1255 Seymour; The Elan
- 928 Homer, 909 & 977 Mainland; Yaletown Park 1,2,3
- 610 Granville; The Hudson
For more information or for what is available in these buildings contact Craig Rushton.