If you are looking for a good return on investment and consistent income generating venture, you have many different options. One that has a proven track in high returns is real estate. Ottawa, Canada is very attractive when it comes to real estate investment. Here are the reasons why you should consider investing in Ottawa real estate.
Investing in Ottawa Real Estate
Real estate investment is one way of growing your financial wealth. It can bring in consistent cash flow and over time, it can help build equity and eventually give you financial freedom. If you have not decided yet where to invest in real estate, these reasons may help you decide. Here are the reasons why you should consider investing in Ottawa real estate:
- In terms of average house price, Ottawa houses are valued at around 56% lower than other big cities in Canada. For instance, the average house cost in Toronto is around $963,000 while in Ottawa, the average house cost is just about $543,000. This is a huge difference in the investment cost. This means that you have more options in terms of properties to choose from that will fall into your budget.
- Ottawa has a stable real estate market. Most real estate markets are based on businesses. This means that when the business market is booming, the real estate market booms. However, if the business market crashes, the real estate market crashes as well. Unlike the others, Ottawa real estate market is based on government. This is the reason why even if the business market crashes, Ottawa real estate market remains stable as the government that backs it up is definitely stable.
- With Ottawa real estate, you have control of what you invest in. You have a lot of options to choose from. You have control of the level of involvement you want with the property. For instance, if you truly want to be involved, then purchasing a house may be a good idea for you. But if you want something that is just low maintenance, then a condo may the best option for you.
- Ottawa real estate has very low vacancy rate compared to others areas in Canada. There is only about 1.8% vacancy rate in Ottawa. Investors really need to meet all the qualifications to buy a property in Ottawa. Because of this high standard in qualifying for a property purchase, there is a very low vacancy rate and even foreclosure in Ottawa.
- Investing in Ottawa real estate is a good option to earn consistent income especially if you are going to put the property for rental. The estimate is that about 28 people transfer and decide to live in Ottawa on a daily basis. This means that you will have a lot of potential renters.
Ottawa is one of the most desired places to live in. Today, it is also one of the most desired areas in Canada to invest in.