Tag

investment property - Sarasota Realty St. Albert Real Estate

The Skinny Home Trend

By | Home Staging & Interior Design

Skinny homes are a trending movement that can be spotted all over our beautiful city. These skinny homes are economical and sometimes profitable spaces for comfy living. Skinny houses have also become the most publicly accepted form of infill housing in certain neighborhoods.  

Skinny homes usually have a modern yet minimalistic look and most of them are custom built allowing for your unique tastes to come out!  They are built in a way to accommodate all the amenities of a traditionally larger home. Many younger families appreciate the nod to minimalism and simplicity (think Marie Kondo) and flock to the opportunity to downsize. Downsizing is not only economical, it is very much less complex and intimidating than buying a big house.

Many buyers are choosing skinny homes as investment properties and choose to rent out parts of the house. Although these homes are skinny there is a lot more space than what meets the eye.

Will I Have Enough Options in a Skinny Home?

Definitely! It’s also dependent on the space, but working with a custom builder allows you to pick and choose different amenities that are important to you.  For instance, in the bathroom, you will need to decide if you want to have a bathtub or if you feel better with just a standing shower. You will typically have a smaller but complete kitchen to let you make an enjoyable meal and a living room cozy enough to lounge around in. In addition to all the rooms, the skinny houses can also have a cute outside patio and lawn area! 

With the news that property prices have reached (another) record high, it’s hardly surprising that property buyers are having to stretch their finances further to buy what is, sometimes, quite literally nothing more than a room with enough space to turn around in. Would you buy a skinny property? 

Contact us to explore the skinny houses available on the market.

 

QUESTIONS TO ASK BEFORE INVESTING IN A RENTAL PROPERTY

Questions to Ask Before Investing in a Rental Property

By | NEW

Hey, you know what would be great as a long term investment and would generate an awesome monthly income? A rental property! But let’s pump the breaks for a second before we dive in. Before you make a big investment (such as this one) lets weigh the good and the bad, as well as ask ourselves these questions to put us on the right track and properly prepare for what’s ahead.

Looking to buy a rental property in St. Alberta?

Check out our current listings!

QUESTIONS TO ASK BEFORE INVESTING IN A RENTAL PROPERTY

Financially, is this a good time for you to buy an income property?

Before pursuing any big investment opportunities, it’s best to be comfortable in your current financial situation. Comfortable enough to make a big purchase and still cover your existing financial obligations. Be prepared for the unexpected by planning ahead. Ask yourself, do you have the minimum down payment for an income property? Are you prepared to make repairs before the property is rentable? Its better to be too prepared than not prepared at all.

What type of property do you want to invest in?

You may think the bigger the property, the better. But that’s not always the case. A bigger property comes with higher taxes. It’ll also be more space to maintain and the rent you receive may not be enough for upkeep. If it’s your first time as an investment property buyer, note that many like to start out by purchasing condos or single-family homes. However, multiplex units bring in the most income.

Where is the highest demand for rental properties?

You want to invest in a property that is located in a high demand place and will remain high in demand in the future. You want to keep your eyes out for properties that are close to hospitals, schools, public transportation, etc. Whatever makes your rental property desirable! Make sure you establish what kind of renters you want to attract. Is it students? Is it people who need access to public transportation or businesses downtown? Being able to answer these questions will aid you in picking the location of your new rental property.

Make sure to seek advice from professionals if you’re overwhelmed and don’t know where to start. Investing in real estate is a big commitment and should be considered from every angle. Contact your realtor and ask them what’s currently on the market and explore numerous options before you settle on one. Receiving financial advice can not only save you money in the future but can also give you a better idea on what kind of property you’d like to purchase, how much your comfortable investing and if this is the right investment for you.

 

Interested to learn more about rental properties and what’s on the market in St. Albert? We’d love to help! Visit our listings page here to find out more.

SARASOTA REALTY p. (780) 460 2222 f. (780) 458 4821 25 Carleton Drive St. Albert, Alberta T8N 7K9