Effective October 17, 2016, mortgage rules in Canada are changing. For rental property investors, sadly this will mean higher interest rates and less choice, as many lenders will be exiting the business of financing rentals. If you are a property investor looking to continue to expand your portfolio, I have great relationships wtih most of the lenders that are still eager to help you out (even if the property is held inside a corporation).
Investment properties are now accessible to many average Canadians.
Investment properties - particularly smaller, residential real estate - are now accessible to many average Canadians. And as any homeowner will confirm, real estate has been one of the most attractive investment categories in Canada for the past decade. If you're considering an investment in real estate, start by having a conversation with an experienced Mortgage Broker, to explore some of the innovative new options and great rates available today.
There are many Canadians jumping at the chance to own a recreational property. The aging baby boomer population is flush with capital and an insatiable desire for a waterfront or other recreational property. And with the advent of better roads, Internet and telephone service, satellite service, and winterization expertise, people are realizing that vacation properties can make ideal retirement homes. No longer just perceived as a welcome retreat from the city, a second home is now viewed as a solid financial investment with the added value of a potential retirement property.