Even though we are seeing record prices in the GTA right now, we have to look at the long term investment.
I believe maximizing the availability of home equity and leveraging to acquire real estate is an incredible way to build wealth.
Down payments can be hard to come by, so using your home equity as the vehicle for this investment makes perfect sense. Look at it this way, what is your home equity doing for you if it is sitting untouched in your property? It is certainly not doing anything to help build your net worth, and not helping appreciate your property faster. You have to ask yourself, with all the money that you are sitting on could be doing if invested elsewhere.
With a vacancy rate of 1.7%, it is also a great time to have rental income almost guaranteed with the possibility of a surplus, in turn paying off the investment’s mortgage faster.
So not only do you have an additional property with the potential to increase in value. You have improved on your overall wealth.
Remember, the experience and knowledge that we possess is invaluable. We spend a great deal of our time and energy keeping our fingers on the pulse of the market and have the resources, connections and ability to keep you up-to-date with its constant changes. We are your best source for determining and getting the highest price possible. Call us at (416) 443-0300 for immediate attention.
Kristan K. Erner is a Broker at Royal LePage Signature Realty with more than 24 years of unparalleled experience.
The Kristan Erner Group is a team inspired concept utilizing the unique experiences of all of our members.
Kristan K. Erner
with contributions from Jaicel Aquino, Sal Camera, Jennifer Erner, Brad Lorimer
and introducing Rossita Beshinska. REALTORS® , Sales Representatives.