Acquiring An Apartment - Try To Diversify Your Stock Portfolio
Over the last few years, relatively weak stock markets (when compared to late 90's) together with continued global economic uncertainty have changed the way a lot of Canadians are investing their hard earned dollars.
A lot more Canadians are going into the rental property market, some swayed by the real estate appreciation that we've seen over the last couple of years. Other people want to add real estate to their investment mixture to better diversify their stock portfolios.
Condos and Multi-Units
Additional investment is going on in multi-unit residential properties such as duplexes, triplexes, and fourplexes, as well as single-family detached housing. Canadians are planning to have the rent from these types of investments at least cover their expenses and, over the long term, gain a reasonable return of investment.
Look at Your Mortgage and Financing Needs Carefully
Investors who consider adding real estate assets are often confused about their mortgage financing alternatives. Given that the Bank Act allows only up to seventy-five percent of the value of a property to be in uninsured financing, quite a few investors who put fifteen percent down use an insured mortgage for the difference.
The cost of the insurance premium can be as high as two percent, which can result in a $6200 cost on a $225000 mortgage. Even so, not all investors can meet the strict demands that go along with an insured mortgage on rental property.
One more alternative if you have a good amount of equity in your principal residence would be to take some of that equity out, generally through a line of credit, to obtain a big enough down payment that then might qualify you for a standard first mortgage.
Financing Made Easy
To simplify the process, you can also now contemplate those lenders who may have mortgage products specifically developed for small investors who own or are buying a residential investment property. Canadian traders can now access up to $500000 without costly mortgage insurance premiums, or leveraging the equity in their principal property.
Perhaps now a lot more Canadians can heed the wisdom offered by a lot of financial professionals and diversify, diversify, diversify by adding real estate into their investment portfolios. Then once that's done, the benefits of going public may be considered as well as capital equities.
Should this apply to you, search: company go public.
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