Toronto investment property: Any vacation or residential property
can be bought as an investment with an average price $200,000 though
prices can vary depending on property type and location. Investment
properties can be found all over Toronto. It is becoming a popular
trend in Toronto to buy a home as an investment property. Toronto
homes with a pleasant view of the horizon often sell at a premium
above similar homes without the view. Even though most real estate
value is usually concentrated in the building, the lot is important,
too. Obviously, it should be as level as possible. Assuming the property
is in a typical neighborhood, the lot should be rectangular
no odd shaped lots or oddly situated lots. Yard sizes are smaller
in modern homes than in older homes, but there should still be a decently
sized front and back yard. Do not buy a house where the entire back
yard is taken up by a swimming pool, for example. Do not purchase
an over-landscaped property, either. You would normally pay a premium
for that, which you may not be able to recover when you sell. You
will get your best value if the house is moderately landscaped or
under-landscaped for the area. You can always improve the landscaping
during your ownership by improving the grass and adding bushes and
trees. This will improve the value of your Toronto investment property.
In each Toronto residential neighborhood, houses will vary in size
and rooms, but they should not be too different. When resale value
is important consideration, you should not buy the largest model in
the neighborhood. When determining market value, the homes nearest
to yours are most important. If most of the nearby houses are smaller
than your house, they can act as a drag on appreciation. On the other
hand, if you buy a small or medium house for the neighborhood, the
larger homes can help pull up your value. This is one of those times
where determining your "wants" versus your "needs"
can be extremely important. Buying what you need in a more prestigious
neighborhood may provide more financial reward than getting what you
want in a less desirable neighborhood of Toronto.
Three and four bedroom houses are the most popular among homebuyers,
so if you can stick in that range you will have more potential buyers
when it comes time to resell your Toronto investment property. Five
is okay, too, as long as you do not have to pay too much extra for
the additional bedroom. There should always be at least two bathrooms
in a house, preferably at least two and a half. One bathroom with
a place to wash up for day-to-day visitors, one for the master bedroom,
and at least one to be shared by the other bedrooms. Walk-in closets
are extremely desirable for the master bedroom. For the rest of the
house, just be sure there is plenty of closet space. Don't forget
space for linens and towels.
Garages add to the resale value to your investment property and you
should always make sure to get at least a two-car garage. Lately,
three-car garages have become desirable in some areas of the country.
The laundry facilities should be located somewhere convenient on the
main floor of the house, but not in a place it will create an eyesore.
Think about whether future purchasers will want to walk up and down
stairs when carrying loads of laundry.
Family activity centers around the kitchen, so this is the most important
room of the house. Larger kitchens are better, and they should be
provided with modern appliances. Obviously, the dining room and breakfast
nook should be located adjacent to the kitchen. In newer Toronto
houses, the family room should also be extremely close to the kitchen.
There should be easy access to the back yard, as there will be occasions
for barbecues and outdoor entertaining. In addition, it should be
a short trek between the garage to the kitchen so hauling groceries
in from the car does not become a horrendous chore. Swimming pools
do not provide as much added value as they once did. Safety issues
about families with younger children have become more publicized than
in the past, so families with small children tend to avoid homes with
pools. As a result, having a pool may actually reduce the number of
potential homebuyers when you try to resell the home in Toronto.
Toronto homes for sale (guide)
Toronto resale homes
Building a house in Toronto
Toronto new homes
Toronto luxury homes
Toronto investment property
Toronto residential real estate
Toronto residential real estate