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Condo Investment tips

Everything you need to know before investing in a condo

ginabrewton
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Condo Investment tips

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  1. Condo investment tips

  2. CONTENTS • Tips for buying a condo as an investment • Mistakes new condo investors make • Questions to ask before becoming a landlord • Condos as profitable investment • Benefits of condominium investments • Potential drawbacks of condominium investments • Who should be looking for condos? • References

  3. Tips for buying a condo as an investment Know your budget Budget including the closing expenses Buy in gentrifying neighbourhood Think long-term

  4. Tips for buying a condo as an investment Pick a good location Invest in a condo that promises high returns Explore less conventional financing methods Ask about HOA fees rules & condo fees Conduct an inspection Work with a real estate agent

  5. Mistakes new condo investors make • Trust the floor plan • Don’t hire a lawyer • Accept delays • Think they have a warranty • Hidden closing costs • Buy at the wrong time

  6. Questions to ask before becoming a landlord Check if you have enough time to spend on the property Is it an active investment role that is in your mind? Are there any better options that can give attractive returns?

  7. Condos as profitable investments Buy to rent Affordability Play the maintenance-free card

  8. Benefits of Condominium Investments • Low repair costs • High demand due to increased urbanization • Shared amenities attract renters • More affordable than single home units • Upkeeps and maintenance are simple

  9. Benefits of Condominium Investments • Low cost • Desirable locations • Lower maintenance • Fewer individual expenses

  10. Potential drawbacks of Condominium Investments • Condo association fee • Financing difficulties • Rental restrictions • Slower appreciation

  11. Who should be looking for condos? • First time home buyers • Boomers & seniors • Parents of university students • Singles

  12. References • https://www.fool.com/millionacres/real-estate-investing/rental-properties/do-condos-make-good-rental-property-investments/ • https://www.paulrushforth.com/blog/when-are-condos-a-good-investment/ • https://www.mashvisor.com/blog/buying-a-condo-for-investment/

  13. THANKS

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