Is Guelph still a good place to invest, given everything that is happening in the market today? MoneySense Magazine still believes so. Its last report ranked Guelph within the top 25 places to invest in all of Canada. When you look at the many benefits the city has to offer, it’s easy to see why. Guelph has low unemployment, higher than average income and a high student population. There is always a large group of people looking to rent instead of buy.
Even without the university, the low crime rate, outdoor recreation opportunities and spectacular dining scene make Guelph a desirable place to live.
Recent changes in the market have brought more balanced conditions for both buyers and sellers. This spells good news for investors who are either selling off their properties or looking to buy new ones. Buyers can take advantage of the lowest real estate prices in months. A high down payment can help insulate you from higher interest rates, as can some lower-interest home equity loans.
It’s an excellent time for current property owners to cash out of their investment by selling. Even though prices are down month over month, they are still higher than at this time last year.
In either case, working with a seasoned local real estate team increases your chances of success.
A Unique Understanding of Micro-Pockets
Every real estate agent has a deep understanding of the market overall. However, only a local agent understands the micro-pockets in different parts of the city, where certain areas hold their value better and still sell at higher than average prices.
For example, we may be in a more balanced market, but housing values vary from one neighbourhood to the next. Conditions can even be different from one block to the next.
An experienced local agent can protect you from making costly mistakes, like buying a house in an area where a new highway is being built. And they can point you to new opportunities you might never find on your own, like an assignment in a new development.
With the right information, investing in real estate can be one of the most rewarding ventures you’ll ever undertake. Here are some resources that you don’t want to miss:
- Questions To Ask A Potential Property Management Firm
- Buying An Older Home? Here Are The Red Flags To Watch Out For
- The Double-Edged Sword Of Rising Interest Rates
Timing The Market
Everyone who has ever bought or sold a house knows that it’s impossible to perfectly time the real estate market. Very few people are lucky enough to sell at the highest possible price the day before the market drops. But that doesn’t mean you can’t get your timing right at all.
Ideally, you want to work with a real estate team that has been around long enough to have seen everything, from the downturn of 2008 to the hot seller’s market of 2021 and everything in between. A local expert doesn’t just know the market, however. They can also help you analyze your resources and your goals to determine the best time to jump in and when to step back.
It’s All About The Connections
Industry knowledge isn’t the only value an experienced real estate team brings to the table. They’ll also have connections with every type of professional to help you achieve your goals. Your real estate team knows who to call; whether you want to secure a new mortgage at the lowest possible rate or find a contractor to renovate your new dream home,
They may even be able to help you uncover listings before they hit the market or give you access to a network of buyers when you decide to sell.
An Understanding Of Cash Flow
As housing prices rise, creating positive cash flow from a rental property becomes more difficult. It’s not just the mortgage you have to cover. There are also property taxes, maintenance costs, vacancy costs, advertising expenses, insurance, lawyer’s fees, and income taxes. An experienced real estate team can run the calculations and analyze the rental market.
Should you buy a property even if it doesn’t generate cash flow right away? The equity gains will still help grow your wealth, but only if you have the funds to hold on to the property for the long term. Your real estate professionals will help you understand what resources you have to make the best decision in your personal situation.
You’ll know if a property has potential before you jump in.
Want to stay up to date with the latest news in Guelph real estate? We are constantly watching the market and will keep you posted on the latest developments that you need to know about as an investor. Sign up for our newsletter right here.
Legal Protection
Each real estate transaction is a legal agreement involving a ton of paperwork and contracts. Signing something without understanding it is a common mistake. Even seasoned investors prefer the protection of working with an experienced real estate professional.
An expert by your side will protect your interests at every turn to ensure your investment is a successful one.
Are you looking for an experienced real estate team for your next investment? Go Wylde Real Estate has been helping buyers, sellers and investors in Guelph and the surrounding areas since 2006. You can meet the team right here.
