The Financial Benefits of Buying Real Estate
Purchasing real estate like a condo offers many financial advantages. Especially in the long term, this type of investment allows you to build up your heritage, to receive additional income if you rent it out, to have a place to live when you retire and, of course, to grow your investment. Today, we’ll explore in detail all the long-term advantages of real estate investment at the heart of a condominium project!
Worry-free retirement
One of the main advantages of buying real estate is that it will allow you to better enjoy your retirement once you’re at that stage of your life. As you know, your income decreases when you retire. Owning a property that is fully paid for is therefore ideal for your budget. You can then live in your condo without any mortgage or rent to pay, or rent it out for additional income each month or even resell your property for a substantial profit, especially if it’s located in an area where real estate has gone up in value. In short, even if you’re young, know that it’s never too early to buy a condo, because this purchase will allow you to maintain your lifestyle and your purchasing power when the time comes to retire.
Living in a pleasant, modern place that reflects who you are
Many buyers choose to invest in a condo to live in it. Indeed, owning your home offers many advantages in the short, medium and long term. You have decision-making power over your layout, but also over everything related to the building, which provides interesting flexibility. . In addition, by living in your property, you get to enjoy its comforts and make any changes you wish in terms of layout. Everything you spend on your condo thus becomes an investment for the future.
Build a legacy
Real estate is certainly the most important element when it comes to heritage. Because it increases in value over time, your condo becomes an important legacy for your children, who can live in it during their studies or even resell it for a profit.
Have a guaranteed income thanks to the rental
Buying a condo to rent it out is a known investment technique. Indeed, by renting out your property, you can use the rent to repay your mortgage and your current expenses. In the long term, your condo will be paid for without you having spent a large sum of money, not to mention that it will have increased in value!
Benefit from tax deductions
Investing in real estate can reduce payable taxes through several strategies. For example, if you undertake certain renovations, or if you live in your condo and you have expenses related to home care for seniors. Also, if you rent out your condo, you can get deductions for certain reasonable everyday expenses you incur to earn rental income (insurance, repairs and maintenance, property taxes, interest and bank fees, management and administration fees, etc.).
An investment financed by borrowing
When the time comes to make financial investments, it’s generally quite difficult to borrow to finance them. This isn’t the case in real estate! Mortgage loans are actually accessible and certainly safer, especially in the long term. Thus, at the end of the loan’s term, you’ll be the holder of a high value asset, with your upfront investment having been generally quite low.
Enjoy guaranteed interest rates for up to 18 months
By choosing the Baldwin Condos & Penthouses project, you gain access to the “Special Builder’s Program” developed by major financial institutions (Desjardins, BMO, RBC, TD and Scotiabank). This program guarantees your interest rate for up to 18 months. If interest rates go up, you’re protected. And if interest rates go down, you benefit as well! Contact a sales representative for more information.
Invest in Baldwin Condos & Penthouses
As the largest new residential real estate project in Dollard-des-Ormeaux, Baldwin Condos & Penthouses is an ideal choice for long-term investing. Located very close to the future REM station, in a sought-after area in the west of Montreal, your purchase will benefit from a guaranteed increase in its value over the years.
Phase 2 – Delivery Spring 2024
Phase 1 – Few units available, immediate occupancy
For more information, please contact us a514 316-8003.
Our experts will be happy to answer all your questions and advise you.
