SHARI JOHNSON Realtor - Tradewinds Realty inc Email: Shari@novascotialiving.ca
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Investing in Income property

 

Low interest rates have given more people an opportunity to get into the real estate market. For many people, the next step after buying their first residence is to consider buying an investment property. For most homeowners, the financial benefit is the appreciation of their property's value over time. Real estate also offers the opportunity to generate a positive income stream in excess of your operating expenses. Investing in an income property can be a profitable venture, but be sure you know your facts first.

There are two primary strategies to consider when investing in an income property. You can choose to live in a part of the property yourself, while renting out another suite or apartments in the same building. Another option is to buy a separate unit, operated solely as an income generating property. Both of these can be very worthwhile ventures, but be aware that there are tax implications. Consult your accountant and taxation expert.

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