Want to know a shrewd investment?
My money is on real estate in Vancouver. Even now. Look at the numbers - every 10 years, property values double in Vancouver. If you go back over 40 years and take a closer look, you will see that the city has a history of repeating itself, 100% jumps at a time.
Right now, there is cheap money available to buy. Interest rates have never been lower. So when it doubles once again, the gain will be much higher than in past. If you are buying a principal residence, this is all tax-free money, people.
Real estate is the best investment available in Canada. Especially Vancouver real estate, where market increases continue to be higher than other areas. If you are going to play, play to win big. Usually, the amount of increase you will see on a million dollar home is much greater than a house in Edmonton that sells for half the price. It’s a smart business decision: One that can maximize your profits, while allowing you to stay in a city where you’ll never need to shovel your driveway.
Some are citing the 25-year mortgage as the dearth of the Vancouver real estate market. But buyers are looking at this in the wrong light. There are actually incredible savings to be made by spreading the last five years out over the course of the entire mortgage. You will save thousands in interest, and you will also be out of your mortgage faster - allowing you to invest that money into something else when the house is paid off. Or allowing you to use built up equity once you pay down your mortgage, to buy a vacation place (yes I am buying Hawaii now) or an investment property.
Those who bought real estate in Vancouver in the 1990s have never looked back. Same can be said for those who bought in the 80s before the Expo 86 boom. There has been a steady upward trajectory, in the long run, which shows there is no faster way to double up on your investment. The crazy thing is, when the market was MUCH worse for buyers, buyers were happily competing to pay crazy prices….now that things have slowed down, some buyers (not the smart ones) are “waiting to see”…..Show me another Canadian stock, or even market, that can offer the kind of consistent return that we have seen in real estate, and I’ll change careers! (Okay not really but you get my point!)
For more information on how the Vancouver market works, please contact me.