Three Reasons to Invest in a UBC Condo
Real estate is isn’t just housing; it’s also an investment. With over 50% of Vancouver condos being investor owned, tower developments have been deemed a popular investment choice. If you are looking to the UBC real estate market for an investment opportunity, you have chosen well. Here are three reasons why investing in UBC condos is a great deal.
Easily Rented Property Makes UBC Condos An Ideal Investment
Although foreign investment in local real estate has led to scores of empty condominiums in Vancouver, the rental market in the UBC area is very strong. If you are looking for an investment condo that you do not plan on using yourself, knowing that it will be easy to rent helps ease the worry of losing potential income. Condos near UBC are going to continue to be desirable for renters due to their proximity to the University and other amenities.
Although not everyone is looking to rent to students, properties near universities and schools are in extremely high demand. There will always be student renters looking for accommodations close to where they study, and faculty who want to live near work. Rental investments in the UBC area have a track record of success. Suite size has little bearing on desirability, and low square footage may not be a deal breaker. On the other hand, large condominiums with multiple bedrooms are desirable to many renters who want to save money, however, they are less common. These bigger suites can translate to great long term profits.
Low Maintenance Investments In Well-Maintained Buildings
Condominiums are ideal investment properties because a condo requires much less maintenance than a house. Although you will be responsible for the inside of your condo, maintaining the building itself is the building owners’ responsibility. As far as real estate goes, condominiums (especially new developments) are relatively low maintenance investments. If this appeals to you, take extra care in researching a condominium’s strata agreement. You will want to be clear on what is included in your monthly fee. Different strata management corporations will offer different features, which will make some condos more desirable investments than others.
A Safer Investment To Break Into The Market
Condominiums are also safer investment vehicles than other types of property. Condos tend to offer better security against break-ins than detached homes, which makes condominiums more appealing to renters. For insurance purposes and piece of mind, breaking into the property investment space with UBC condos is a winning move for Vancouver investors. Local investors strengthen the economy and keep housing options open for people looking to settle or stay in the UBC area. Security is an important component of any home. A secure building and community is valuable in many ways and to many people, making for a solid investment opportunity.
Vancouver has some of the most desirable real estate in the country. The market has caught international attention, and many investors consider the Vancouver market as the best in the world. Local investors can get in on valuable real estate investments, and keep investment profits in the country. Condominiums make sense for investors in a big way, and Canadians should be getting in where they can. Getting into investment real estate with a UBC condo is a smart move for both your future and for the local economy.