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Buying a home is a big investment, but how can you ensure that you are making a smart investment in the first place? Whether it’s your primary residence or a property you’re looking to make money off of, you want to be well-informed on your decision before putting money down.
Money Sense recently released their “Where to buy real estate 2018” guide, which outlines the best communities for investment, across Canada.
The MoneySense Where to Buy Now report gives you hard numbers to help guide the biggest financial decision most of Canadians make in their lives: Buying a home. Check out our ranking of Canada’s 35 major urban centres to see how their real estate prospects compare to Brantford, this year’s pick for the best city to buy property. Or dive deep into our ranking of 2,244 neighbourhoods in eight of Canada’s largest cities based on three criteria: Value, momentum and expert insight. [Money Sense]
Based on the Money Sense findings, here are the top three Calgary communities to invest in:
Only a fifth of the city’s neighbourhoods reported a one-year price decrease last year — this was good news given that the year before 25% of the Calgary’s communities reported average price drops. Like before, the hardest hit neighbourhoods are the more expensive communities. The only exception was the Erlton community, which experienced a 31% drop in property values, primarily due to a many properties being severely damaged by the recent flooding. [Money Sense]
For comparison purposes, the average home price in Calgary is $557,493 and there is a 17 per cent annual five-year return.
If you have questions about investing in real estate, please feel free to contact me.