The Pre-Construction Hamilton Grand Condo Hotel - Great Pre-Sale Hamilton Condominium Real Estate Investment - Unique Opportunity Offered!

CASE STUDY: The New Hamilton Grand Condo Hotel – Good Investment, but How Does It Compare?

Located in the very central nerve of the business district in the heart of the most valuable Hamilton real estate district, the Hamilton Grand condo hotel is a one hundred and seventy seven condominium suite hotel, due for completion in the early part of 2011. There are many things and features that are very unique about this pre-construction Hamilton real estate development. Firstly, the pre-sale Hamilton Grand condo hotel building will set itself from the crowd as it is the only legally structured hotel condominium, with every presale Hamilton condo suite having an individual owner, but operating as a full hotel. A property management company will run the new Hamilton Grand condominium hotel on behalf of all the property investors and owners, who will not be actively involved in renting the pre-construction Hamilton condos. Real estate investor returns are based on the income of the entire real estate property, not the rent per individual Hamilton Grand suite. Each of the 177 hotel rooms at this new Hamilton real estate development is a one bedroom condo priced at $199,900 with the exception being the one bedroom penthouse suites at $219,900 and includes furniture and a built in home theatre system, ideal for hotel suite guests. The projected rental rate at the new Hamilton Condos at the Hamilton Grand Hotel is set at about $150 per night and at full occupancy, this equals ot about $4,500 per month in gross revenue in rental returns. This does not include entertainment income that hotel guests at the pre-construction Hamilton Grand Hotel condos will spend during their stay. Even then, the analysts of the Hamilton real estate development expects that even with a conservative 35% vacancy, property investors can still expect about $2,000 per month net return after all expenses are paid. This does not, however, including mortgage costs for individual Hamilton condo grand suite, which are the responsibility of each individual investor. A lack of Hamilton hotel supply makes this a good choice for this real estate development because as the city continues to prosper, there will be growing demand. Also of note is the City of Hamilton real estate development initiative, which includes a property tax rebate of five years for your purchase of a new Hamilton Grand condominium. For more information, floor plans, pricing and availability of the suites here at the pre-sale Hamilton Grand condo hotel suites, please contact them at 289.389.1022 for additional details. A once in a lifetime opportunity only needs a few minutes of your time. Realize your dream of positive cash flow properties today at this new Hamilton condo development.

Why Invest in Hamilton Real Estate?

The Hamilton property market is resilient. With average vacancy rates at 3.2% and a low average price of Hamilton real estate around $264,549, Canadian real estate investors who want positively geared properties should consider this city. Already undergoing tremendous transformation and revitalization, Steeltown has become boom town. A sustainable population of $504,599 sure helps the stability of the Hamilton real estate market as does an increasing median income, job growth and the economy. The average rent for a one bedroom Hamilton condo suite is about $681/month while a two bedroom Hamilton condominium is $836/month. Single family homes in Hamilton property are hot buys as are student rentals in the area. Being just 65 kilometres from Toronto real estate, Canada’s largest city in addition to Burlington and other major cities in Ontario, Hamilton real estate is burgeoning in growth and development. Hamilton property was recently named one of the top 10 towns in Ontario to invest in by the Real Estate Investment Network (REIN). Having missed the boom of the early 2000’s, Hamilton is now undergoing major growth and people are starting to realize this.

Canada Home Buyers should focus on Real Estate Stats for their Favourite Communities and Neighbourhoods, NOT National Averages according to Century 21

Avoiding the Canadian Real Estate Statistics Trap: First Time Canada Home Buyers Advised to Focus on Stats in their Favourite Neighbourhoods

An excellent advertorial from the Canadian Real Estate Magazine published by Don L, the president of Century 21 in Canada. The recession that brought job losses and uncertainty to millions of Canadians this winter is bringing the best springtime property opportunity in years for the first time home buyers in Canada. With interest rates the lowest we’ve seen since 2005 coupled with a large supply of homes for sale in almost all communities across all Canadian real estate markets, now is a good time for Canadians who are looking to enter the housing market. However, before you lay down your money, keep in mind that you must focus on prices and features of homes in your favourite neighbourhoods first. Don’t allow national, provincial or major city house price statistics to influence your decision making, because they’re really not that relevant. The Canadian housing real estate market is made up of thousands of local markets, but the most important to you is the neighbourhood in which you wish to live. Canadian home price trends in those property markets may be quite different from the national stats. For example the Canadian Real Estate Association (CREA) issues a monthly home price survey that is authoritative and extensively covered in the media. In mid-March, CREA reported that the national Canadian average price for home sales via the MLS in February 2009 was $281,972, down 9.2% compared with February 2008. The same CREA report for Canada’s 25 major real estate markets showed that average prices in February 2009 compared with February 2008 declined in 13 property markets and increased in 12 markets with the range being a decline of 13.3% in Greater Vancouver to an increase of 27.7% in Newfoundland and Labrador.

The dramatic variance in the major Canadian real estate market statistics demonstrates how national average prices can be quite removed from local and neighbourhood markets. In addition, ‘averages’ themselves can be misleading. For example, suppose five homes in a neighbourhood recently sold for $200k, $220k, $260k, $290k and $500k, the average of these new homes is $294k. The $500k sale is obviously not a typical home in this neighbourhood and skews the average higher than it should be. If the $500k sale is omitted, the average home becomes $242k, a more accurate indicator of the value of typical homes in this neighbourhood. A similar skewing of averages occurs regularly in the statistics we see reported in the news. First time Canadian home buyers would be well advised to not dwell on home price survey averages and rather to look deeper for local and neighbourhood stats more applicable to them and their situation in their home purchase process. First time Canadian homebuyers should also unertake their own surveys, starting with an online search to gather information about the homes for sale in their favourite neighbourhoods. The CENTURY 21 Canada website at www.century21.ca gives Canadian home buyers’ easy and free access to a powerful and consumer friendly real estate search engine. In addition, work with a local realtor who can provide statistics on selling prices of homes with features you desire in your favourite neighbourhoods. The CENTURY 21 System is comprised of more than 8.400 independently owned and operated franchised broker offices in 58 countries and territories, with more than 142,000 sales representatives worldwide. Each of our CENTURY 21 System members exemplifies local Canadian real estate expertise and has the highest standard of customer care to help Canadian home buyers onto the path to their dream home. And don’t forget – CENTURY 21 Canada is the only Canadian real estate organization that can reward you with AIR MILES reward miles. Start your Canadian home search at century21.ca today.

ROI Advantages of Secondary Suites or Basement Suites for Canadian Real Estate Investors - Including UniverCity SFU Burnaby Approves Lock-Off Suites

Building ROI Through Secondary Suites: From the Basement Up

Through good times and bad, through economic booms and busts, there is one form of Canadian real estate investing that truly bucks the trend in terms of providing positive cash flow and building return on investment both short and long term. Whether you call Secondary Suites in law suites, accessory apartments or granny flats or even student housing, these forms of Canadian housing form an important role in providing secondary income to property owners and investors. There are many things that need to be considered when renting out a Canadian secondary suite including whether or not city bylaws allow for them, if they meet property regulations and how to get the best rent, but in any case, building ROI through Canada secondary suites is a great way for property real estate investors to build equity and positive cash flow. According to CMHC, secondary suites, which are also known as accessory apartments and basement suites, are a common feature of older homes. In existence for many decaies already, these Canadian secondary suites apartments became illegal in some jurisdictions when zoning bylaws set stringent requirements for the type of Canadian housing that could be accommodated in low density areas. Since the 1980s, secondary suites in Canada real estate markets have been recognized by policy makers as one of the most cost effective ways providing affordable rental housing in all major cities and towns in Canada. In addition, these secondary suites, basement suites and accessory apartments also provide great homes for younger singles and couples whom the extra income from a rental unit makes housing affordable in high cost areas. This also allows the younger generation to save more money and save it quicker in order to purchase their own piece of Canadian real estate. Many municipalities across Canada real estate are reviewing their bylaws and standards governing secondary suites in Canada to access whether they can be relaxed. Some cities and towns permit Canada secondary suites as ‘of right’ in all single family homes, while others permit them only in designated zones. In even other cases, municipalities permit Canada secondary suites through site specific zoning. Secondary suites in Canada are governed by provincial or territorial building codes that deal with health, safety and fire protection. Secondary suites in Canadian real estate rental markets make up close to one fifth of rental inventory in Toronto and Vancouver. They are also an important source of rental housing in Canada in small towns and in rural areas where there is little conventional rental housing. Secondary suites in Canada real estate can reduce carrying costs to first time homebuyers by up to 25%. For more information on bylaws government Canadian secondary apartments in your specific town or city, consult your local municipality.

More details about City of Vancouver laneway housing permits and applications is located here. If you are looking for more info regarding Downtown Vancouver Secondary Suites and basement suites in the sky or lock-off suites, click here.

Renting Out a Basement Suite? Here Are Some Things to Consider

If you own a home in a municipality that allows for basement suite apartment rentals, here are some things to think about before putting your secondary suite onto the rental market according to Garrett Construction. Make sure you know the local bylaws as if you’re counting on extra income and the city or town does not approve your rental unit or secondary suite rental, you may not be able to afford the home in the short or long term. In addition, there may be miscellaneous rules such as satellite dishes, additional cable or even barbecues that you may consider adding to your rental. If these allowances are not spelled out first, you could end up with strangers messing with your house without your permission. Commercial zoning is another factor when considering renting your secondary suite apartment. Is your secondary suite tenant going to try and run a business form the basement suite? This should be part of the screening process so you know their plans and the potential implications for you in your rental basement apartment. Do the math and make sure you can generate the rent you need from a basement suite apartment rental. Check out the competition in your area. Create rules for your secondary suite house which includes noise, smoking, parking, shared spaces, overnight guests and pets, so that your tenant in your basement suite understands the rules that you set. Screen prospective tenants thoroughly to make sure that they fit within your lifestyle and that you are comfortable with them staying in your own home. Get renovation estimates in case something goes wrong and something needs to be repaired in your Canada secondary suite.

How To Get the Right Basement Suite Tenant for Your Property Investment

If you’re looking for the ideal and perfect tenant for your Canadian basement suite or secondary suite, there are several things you should consider before renting it out. Firstly, flooring, furnishings and lighting are always good to update prior to taking any photos for marketing and ad placements so that your potential future tenant for your basement secondary suite gets an eye catcher where they will view your secondary condo suite. In addition, personal laundry nowadays is a must in terms of a basement suite rental in addition to a modern electric fireplace. You should also consider replacing old kitchens with new cabinetry or updated exteriors as well as when you’re renting out a secondary basement suite, you’ve got to step it up a notch and replace old bathroom vanities, install good faucets, hang a nice mirror, replace old toilets, tubs and surrounds. Also, don’t skimp on finishing and fixings in your basement secondary suite condo for rent as your potential tenant will be comparing your rental home to others in the same area that have been updated. All of these factors will increase your ROI or return on investment for your secondary suite.

Burnaby Basement Suites in the Sky

A recent article published talked about the legalization process for secondary basement suites in the sky in condo developments in the City of Burnaby in the Greater Vancouver area. It might not be everyone’s idea of a basement suite or secondary suite, or even an accessory apartment, but the City of Burnaby may just be the first municipality in the world to legalize secondary suites in highrise condo apartments. Also called ‘lock-off’ suites, these secondary suites in the sky enable condo home owners and investors to do what those of detached and semi-detached homes have been doing for years – rent out extra space that they do not need. For property investors in Burnaby real estate market, it might provide another great rental option in Vancouver and other cities where high purchase prices mean they must maximize income potential to support mortgage payments on their condo investments. And in Burnaby real estate, some observers believe it might provide a solution to the increasingly thorny issue of where to house the university students and working singles who drive the economy. The Burnaby basement suites in the sky are basically secondary condo suites in high rise tower residences. The City of Burnaby recently amended its bylaws to approve lock off suites within up to half of the rental apartments and townhomes at UniverCity, a condo community being developed on Burnaby Mountain adjacent to Simon Fraser University. The secondary lock-off condo suites at UniverCity must be at least 240 square feet, and are permitted to have their own entry from the corridor, as well as their own bathroom and cooking facilities. The secondary lock-off Burnaby suites, ranging in size from 240 to 285 square feet, are renting from $525 to $750 per month. By comparison, in Vancouver real estate market, where the city is reportedly looking into allowing such secondary suites in lock-off suites, a new or recently renovated one bedroom condo apartments rents for about $1200 per month, while basement suites fetch about $750.

Canadian Rental Real Estate Market is HOT! Check out the best bets for high return on investments for Canada Rental Apartment Properties - GREAT ROI!

Canada Rental Condo Market – Best Bets for High ROI

The Canadian condominium apartment rental real estate market is booming and there are a few urban centres that are leading the way in terms of return on investments for real estate investors as well as low vacancy rates. Even with the economic problems we face in Canada, there are many cities that are facing a shortage of rental housing, and because of this, many Canadian property investors are reaping the rewards of owning rental property. During this time, high ROI is seen in rental condos and apartments as many would-be homebuyers are playing the waiting game for prices on housing value to plummet even further. Because of this, property investors who own rental condos and apartments for rent are seeing higher than normal returns on investment and there is no reason why this won’t continue for the rest of 2009. According to the Canadian Real Estate Magazine, here are the top 4 featured condo markets that are providing high ROI to property investors in Canada:

Saskatoon Rental Apartment Market 2009

CMHC is forecasting an increase in the average vacancy rate to 2% in October 2009, as Saskatoon’s employment continues to grow, leading to in migration and rental demand. CMHC is also forecasting employment gains of 1,800 jobs in 2009, following 2,300 new positions in 2008. Global demand for oil, gas potash and uranium provided a significant boost to Saskatoon’s real estate market in recent years, but weakened demand for some of these goods and the global economic struggles had an impact on the Saskatoon real estate market in 2008. Still, Saskatoon real estate continues to be one of the fastest growing cities in Canada, and the Saskatoon rental market will continue to benefit immensely. The Saskatoon Vacancy Rate for October 2008 was 1.9%. The Saskatoon rental apartment rent increase average for a 2 bedroom apartment from October 2006 to 2007 was 13.5%. The rent increase from 2007 to 2008 for a two bedroom rental Saskatoon condo was 20.3%.

Regina Rental Market Update 2009

The average vacancy rate for Regina rental apartment market will increase slightly to 1.2% in 2009, the CMH says, as in migration slows because of a slower increase in employment and higher rents. Some Regina renters are doubling to compensate for rising costs, thus contributing to the increase in Regina condo vacancy. As well, newer, investor owned condominiums in Regina are drawing off demand from existing rental projects. Despite some cooling in 2008, the provincial economy of Saskatchewan continues to fire on all cylinders, and Regina rental property market will certainly benefit. The Conference Board of Canada, for example, expects Saskatchewan to lead the country in real GDP growth in final 2008 numbers, about 5.2%, and in 2009, about 3.6%. The province’s diversified mix of natural resources and agricultural commodities will maintain strong export growth. A number of large scale Regina capital projects will keep employment levels an wages increasing, leading to strong Regina rental condo demand. The Vacancy Rate for Regina in October 2008 was 0.5%. The rent increase for a typical two bedroom Regina apartment for rent from Oct 2006 to 2007 was 6.2% and then from Oct 2007 to 2008 was 13.5%.

The Sudbury Rental Market Forecast 2009

A growing mining sector and corresponding strong in migration are driving Sudbury rental apartment demand in Greater Sudbury, according to Canada Mortgage and Housing Corp. With little new Sudbury rental construction planned, the vacancy rate will resume a downward course, edging lower again in 2009. Once solely dependent on mining, the Sudbury economy of 2009 has diversified in recent years, and now boasts government offices for taxation, education, technology and health. Mining is still a vital component, but expansion in these other sectors as well as education and heathcare, is providing a more balanced economy in Sudbury Ontario, according to Re/Max in its Sudbury Housing Market Outlook for 2009. The Sudbury rental vacancy rate for October 2008 was only 0.7%. From Oct 2006 to 2007, the apartment rental increase in Sudbury for an average two bedroom suite was up 7.7% and to 2008 was up by 5.6%.

The Kelowna Rental Apartment Market Outlook 2009

Strong population growth and declining supply of purpose built Kelowna apartment and townhouse rental units have kept vacancy rates low, according to CMHC. Sustained low vacancy rates have put upward pressure on both Kelowna apartment rentals and townhouse rents during the past year. Kelowna’s vacancy rate is expected to increase slightly to 1% in 2009. Rents in Kelowna are forecast to continue rising, though possibly with smaller increase. Kelowna’s reputation as a lifestyle community will continue to attract people to the area. Kelowna is well supported by economic fundamentals with growth and job increases in the education, tourism, service and health sectors. The average Kelowna vacancy rate for October 2008 was 1.9%. Between October 2006 to 2007, the average 2 bedroom rental Kelowna condo apartment increase was 13.5% and to 2008 was about 20.3%, one of the highest in all of Canada’s rental markets.