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This article was supplied to us by Rhys Trenhaile, he can be reached via his website.
Investing in Windsor Condos is Highly Recommended
When people think of income properties and ways to generate passive income, for most of us condos are not the first real estate category that comes to mind.
For certain types of investors Windsor condos are the best option, and during this red hot market this fact has been exacerbated by the fact they have become somewhat undervalued compared to single-family homes and small apartment buildings.
Real estate agent Sadi Moro of The Vanguard Team at Manor Realty Ltd. says we believe condos are the perfect investment for professionals who can’t afford to be stressed out and lying awake at night worrying about issues from that one trouble tenant.
“Condos tend to provide the landlord very low maintenance concerns because it’s essentially a concrete box in the building that is outfitted as an apartment. Maintenance is minimal and you also tend to get some of the very best possible tenants for your property.”
As an opportunity to invest, bear in mind you do not necessarily buy condos for cash flow, although the current cash flows are surprisingly good. You buy a condo because of the safety of investment, the property appreciation, the pay down of the principal of your mortgage, and the tax write offs.
Moro says if you are a busy professional like an accountant, doctor, dentist or lawyer, condos are the perfect investment vessel that you will see grow with time.
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“Despite the hot Windsor market, we found during the pandemic that people have not moved into condos and put as much demand on the condo market as we have on the home market.” One of the reasons might be because a lot of people are worried about catching the virus in an elevator and/or afraid of being around so many people in the building and catching the virus. As people continue to get vaccinated, The Vanguard Team expect to see an influx of retirees moving out of their homes for common reasons like the house is too big, they can no longer navigate stairs, and the kids have moved out.
They also want to move into a condo so that they can travel more freely.
“These are common reasons that aren’t happening right now because of the pandemic,” Moro says. “As the pandemic clears we’re going to see a large number rush to the condos and therefore the prices will finally start catching up to the residential home price gains.” If you are an investor, now is the time to buy, not during the rush on condos that is expected to happen as the pandemic comes to an end.
For more information speak to condo specialist Sadi Moro, at (519) 250-8800, who focuses heavily on condos in Windsor-Essex and laid claim to the highest number of condo sales since 2018 in many of the existing buildings in the area.
Financing Your Investment in Windsor Condos
If you are looking to finance your investment in Windsor Condos, click the link below for a free strategy call today.