In Canada, each year there are hundreds of national and international students come for study. These college or university students spend a lot of money on their living expenses for four to five years. If you take housing facilities from your school, it will be a big change for you. But if you are thinking about your future then you must understand the importance of real estate. A student condo investment can be an excellent opportunity for first-time consumers.
What is a student condo investment?
People wants to enter in the real estate business so that they can buy condos for students. The investment in condos for college or university students is a great decision for growing financial portfolio today and when your children want a place to live while attending college.
5 Tips about Student Condo Investment
1. Trust the developer:
Before buying condos, do some research on the developer of condos whether they provide a good quality product?
2. Watch for rental growth:
Mostly in university areas, the demand for rental property in Toronto is consistently increasing and so the demand for rental condos also increases day by day. But make sure the rental business is growing. In Toronto, the rental growth has been 50% increase from past 5 years.
3. Quality over quantity:
One of the main reasons why students will decide to take condos, apartment or house for rent, because the rooms of university housing are unavailable. Offering a new condo with all the facilities in a popular rental market is like fishing with dynamite.
4. Down payment doubt?
The biggest obstacle for the first time buyers is collecting the funds for the down payment. In Toronto, you could buy fully furnished condos with a 5% of down payment from a total cost.
5. Get in early:
In a comparable manner that new car model is priced and sold, scholar rental developments have a tendency to be constructed in stages, with elevated pricing for every new segment.
CIRCL will offer condos or house for rent for new buyers and we help the students in finding rental condos. Our real estate agents will help the persons those come new in the rental market.