Quote:
Originally Posted by Stormspirit
Family just purchased a 800 SQ feet 15th floor, 2 rooms 2, washroom apartment.. will be fully constructed by 2016. Its the one right behind St. Albans / Granville 7-11. Its still a bunch of rocks right now.
Paying 380k total. Can rent out for 1100-1400 a month.
But most likely gonna live there for a year first since never lived in new place or apartment for long periods of time yet. hehe.
|
Never buy presale as an investment. I made that mistake before
Things are never what you though it would be. Also they can change the completeion date always gets push back, you don't know your neighbours or how people living in the apartments, starta fees will go up for sure. 2016 is too long of a wait, other aparments might pop up near by, lowering the rental fee of your apartment.........
If you must buy, I suggest buy apartments that are around 3 to 5years range. This way you know how the area, neighbour will be like, how steady the stara fee increase is, roughy what is the actualy rental income you get,and also is sitll pretty new so nothing major needs to replace or fix. Price will be cheaper than new as well and you can actually see how well it is built.