Newmarket Landlords & Investors Know There Are Lots Of Great Tenants in Newmarket & Rental Properties Are Appreciating Fast!
There’s been a lot of talk about real estate over the past couple of months. And why not? Property prices are appreciating fast, especially in Toronto And the GTA (Greater Toronto Area).
In a recent article in the Globe and Mail called “Housing Market Sizzles in Toronto’s Suburbs” it was shown that prices in the GTA are actually growing faster than in Toronto. In the Greater Toronto area detached properties jumped up to an average of $1,070,000! This is over 26% higher than in January of 2016. And while prices are rising, active listings in the GTA are lower than before. With prices appreciating fast, many GTA home-owners simply don’t want to sell.
Newmarket Rental Properties Are Booming in 2017
We wrote before about why Newmarket is a great place for landlords and investors. As things heat up even more lets go over some of the reasons why.
Why Should You Invest In Newmarket Rental Properties?
Properties all over Newmarket and Aurora are booming. But it’s especially true for rental properties / income properties. With prices rising owning a rental is a smart move.
(a) Buying a Newmarket Rental Property With A Legal Basement Apartment
Some people want to buy a property with a rental basement unit. This can help you qualify for a mortgage (as you can use the income generated to quality, as long as the basement unit is legal). Or it can help you cover your mortgage.
After all making $1000 to $1500 every month in rent can come in handy to help cover your bills!
(b) Buying A Newmarket Rental Property / Income Property For An Investment
With so many good tenants in Newmarket this is a way to make cash-flow. Or some people will put less money down and have your tenants “baby-sit” in the property (covering your mortgage) while the property appreciates at 20%-50% each year!
So why should you invest in Newmarket rental properties?
Let look at some of the reasons why makes logical sense to invest in Newmarket, Ontario rental properties.
1. Prices Are Appreciating Fast in Newmarket
Investing in Newmarket is a win-win game. You simply cannot lose buying in Newmarket because prices are rising so fast.
2. Newmarket Has A Clear Way to Make Your Rental Property “Legal”
Unlike so many other cities and towns, Newmarket leads Ontario in allowing landlords and investors to create safe and LEGAL rental properties. Make sure you buy a rental property that is LEGAL.
3. Newmarket Is A Great Place To Live
You have Highway 404 and Highway 400 close by to get into Toronto. You also have quick and easy GO access. Shopping in convenience and there are many great schools here.
4. Newmarket Is Growing Like Crazy (and prices in places like Sharon to the north of us are going up by $100,000s of dollars!)
Newmarket is growing fast. You only need to look at all the new easy and convenient shopping here. The Upper Canada Mall is going to expand with a new $60,000,000 investment and that means even more terrific shopping in Newmarket!
5. There Are Lots Of Great Tenants in Newmarket
This is one of the key factors for landlords and investors. Newmarket has a lot of very good, working and paying tenants. These are tenants who pay rent on time and respect you and your rental property.
Newmarket Is The Best Place To Buy A Rental Property in Ontario in 2017
Are you looking to buy an income property in 2017? Newmarket is the place to invest in.
You not only get terrific (huge) price appreciation in Newmarket, there are also a lot of great tenants who want to rent from you. Just make sure your basement apartment is registered and legal in Newmarket, Ontario.