In addition to being an amazing place to live, South Etobicoke is also a great place to invest!
With relatively affordable properties and steadily growing interest from buyers from around the GTA, buying in South Etobicoke simply makes sense. Combine high resale value with a reliable long-term demand for local rental housing, and you’ve got the perfect recipe for a great investment.
If you’re interested in exploring the area’s distinct investment market, here’s what you need to know.
Just like buying a home, shopping for a profitable investment property requires local expertise! Explore my blog post about why you should hire a South Etobicoke real estate agent here.
There’s a Massive Student Market
On the border of Long Branch and New Toronto, Humber College’s Lakeshore Campus welcomes thousands of students every year. And, as the residential building for the campus is very small, the vast majority of students rely on the local rental market for a place to stay. With a consistently high, long-term demand for rentals in the area, buying an investment property in South Etobicoke has extremely low risk.
Plus, despite being a fair distance away from downtown, rents in South Etobicoke typically reflect the prices of the city. As a landlord, you’ll be able to see some seriously good returns by taking advantage of the area’s high rental averages!
Looking for more tips that can help you find a great investment property in South Etobicoke? Check out these posts from my blog.
- Exciting New Condo Developments in Etobicoke
- Garden Suites Are Here – What Investors Should Know
- Why You Should Consider Buying in South Etobicoke
You Can Make the Most Out of Your Investment
When it comes to maximizing your investment property in South Etobicoke, the opportunities are pretty much endless!
One of the unique advantages of local properties is the larger lot sizes. With more space, adding profitable modifications to your property can be easier and less disruptive than homes in central Toronto.
Let’s say you buy a detached, 3 bedroom bungalow – you could convert it into 2 or 3 separate apartments to maximize your number of tenants. After that, if you have the financial means, you could add a garden suite behind the primary residence to build on your investment even further.
Investing in Your Current Property
If you’re curious about investing in real estate but are unsure about buying another property, why not consider building a garden suite behind your current home? If you already own a home in South Etobicoke, avoiding the upfront costs of buying in today’s market by utilizing your own property can help you get a big jumpstart on your returns.
Of course, a project of this size does come with plenty of red tape. To start, you’ll want to find out what type of suite you’re eligible to build and be aware of any bylaws that may impact your vision. This process may seem like a lot of work, and that’s because it is. However, garden suites are a strong investment and in my opinion – absolutely worth the effort!
Unsure where to start with building a garden suite? Reach out for a chat. Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
Tap Into New Developments
With a handful of amazing modern developments sprouting up in Queensway-Humber Bay and Mimico, buying a pre-construction condo in South Etobicoke has its unique perks! Given their proximity to both the lake and city centre, these two communities are in high demand between both buyers and renters.
The obvious downside to buying a pre-construction condo is that it will be a few years before you’re able to rent it out. With that in mind, once you are able to find tenants, you’ll be able to charge higher rent compared to older properties.
And here’s the really exciting part – if you choose to go the new development route, working with a local real estate agent can help you land bonus amenities (like a reserved parking space) as part of your deal. You’ll then be able to offer these perks to tenants for an extra cost, adding a profitable boost to your investment!
Want to dive deeper into South Etobicoke’s unique neighbourhoods? Check out some of my fun and informative community guides!
Ready to get started on finding a great investment property in South Etobicoke? Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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