Investing in a condo can yield stellar returns if done right. As with any investment, various factors influence your particular outcome. The location and market conditions in your area are some of the top determinants. But overall, condos are beginner-friendly for new real estate investors. That’s because:

• You are typically buying new, so less repairs.
• You pay condo fees, so you’re not responsible for maintenance and upkeep.
• Urbanization is increasing, which means condos are in high demand.
• Smaller spaces are becoming much more accepted in the renter community.
• Condos typically offer a range of amenities that attract renters — pool, gym, spa, etc.
• You’re more liquid because resale demand for condos is high, which gives investors good exit strategy if they need to sell.
• Condos are typically cheaper than single-family homes, so barrier to entry is lower.
• New development condos typically have a generous deposit structure, so you don’t need to put down 20% immediately.
• Your interests are looked after by the elected condo board, who help guide the day-to-day management of your building.

For investors looking for an entry-level investment, or more experienced

investors looking to take advantage of demographic changes, condos are a great investment. Condo investing comes with some advantages over single-family homes. These make them ideal for savvy investors seeking a higher rate of return and an easy time managing their properties.

Some of these advantages include:

• Renters have a shared sense of community
• The purchase price is lower than for single family homes
• Equity and tax advantages – no transfer tax on a brand new condo
• You can fetch a premium monthly rental for your new condo unit
• Renting out your condo is cheaper due to shared building maintenance costs
• The rules governing condos benefit landlords and limit tenant bad behavior
• Homeowner rules and property management services also make managing condo properties easier for investors

Pacific Landing’s waterfront community is growing with the completion of Phase 2 scheduled for summer 2019. Surrounded by old growth forest and direct access to over 500 acres of walking trails, the natural amenities on site attract folks who enjoy a peaceful lifestyle away from the noise of busy downtown living. Pacific Landing has its own rental property management services making it simple and hassle-free to rent your suite. We take care of everything so you can relax knowing your investment is safe and well looked after. There just 5 units left in Phase 2, register with us today for details on pricing and availability.