Are you ready to buy an investment property to rent out? If so, Vancouver real estate is an excellent choice. Before you purchase your first investment property, though, you need to decide which neighbourhood you want to invest in. Check out the hottest areas in Vancouver to purchase an investment property and earn passive income.
Uptown New Westminster
Uptown New Westminster is a great spot to invest in real estate. This neighbourhood is a mixed-use community that consists of new condos, low-rise apartment buildings, and single-family homes that are often located on the same street. This has caused the real estate in the area to appreciate at a slower rate than in some other spots in Vancouver, making it more affordable to buy here.
Finding renters isn’t a problem when you have property in Uptown New Westminster. It provides the inner-city life that many people want, without the huge price tag. The neighbourhood hosts a variety of festivals throughout the year and offers plenty to do. It has a lot of selling points, so expect your rentals to fill up quickly.
East Hastings Corridor
You won’t see the East Hastings Corridor on many lists of the best areas to invest in Vancouver, but that’s just because this neighbourhood is still flying under the radar. Expect that to change in the near future, though.
The East Hasting Corridor has been earmarked for densification, and hipsters have flooded in, snatching up real estate and rentals quickly. It’s just going to get hotter, thanks to plans to make East Hastings a walkable street by 2021. The plan includes improving transportation options for the neighbourhood.
Real estate values vary significantly in the East Hastings Corridor right now, so pick up an investment property while you can still get a deal. Prices could increase dramatically very soon.
There are so many reasons to invest in Birchland Manor real estate. For starters, the price is right. You can snatch up real estate for much less than you’d spend in Metro Vancouver and other surrounding areas. Also, it’s easy to find real estate on a large lot, and many of the older homes have basement entrances that are appealing to renters. They like the idea of coming in through the basement, leaving their shoes and outerwear behind, and then going into the rest of the home.
Residents also like the mix between urban and quiet living. It’s far enough removed from the big city that they can enjoy quiet evenings at home, but they’re still close to all their big city favourites. That means you can entice renters when you pick up property here.
Vancouver – A Great Place to Invest in Real Estate
These are just some location options for investing in Vancouver real estate. There are lots of exciting investment opportunities in the city, so do your research and land a profitable investment property.