Location, location, location…

 

I know, you’re thinking cliché, cliché, cliché…yes, it’s a well-coined phrase, but it’s key.

We all know that one of the most important decisions regarding which property to buy is the location of the property.  Your realtor will be able to show you the comparables for the area (similar houses and what they sold for), but you should also do your own research.

Check out the Canadian Mortgage and Housing Corporation (CMHC):

http://www.cmhc-schl.gc.ca/en/index.cfm

Lots of great info here, especially if you are planning on investing in an area that you are not familiar with.    You can find out the vacancy rates of various areas, and what typical rents are for the various kinds of units.

I’ll let you know of other great sources of info in future posts, but this is a great place to start.