Investing in Nova Scotia
In Ontario, real estate has dramatically escalated in price. Home ownership is out of reach for many. Statista has predicted “the price for a house in Ontario in 2020 is forecasted to be $595,200”. Which also means, owning investment properties is also a challenge. Opening Red and White Realty NS Inc. lead to a whole new market place for Ontario investors. Red and White real estate agents can offer advice in Ontario as well as Nova Scotia.
In many areas outside of Halifax the price of home ownership is very reasonable. There is also a need for rental properties for so many in the province of Nova Scotia. Sydney, Nova Scotia is a personal favourite. It’s a port town on the eastern coast of Nova Scotia, in the Cape Breton regional municipality. Every week during the summer, large cruise ships stop in the port. The city is also home to St. Francis Xavier Junior College, the Canadian Coast Guard College, the J.A. Douglas McCurdy Sydney Airport and the fast growing Cape Breton University. “CBU has tripled its foreign enrollment” , which has put a lot of pressure on the rental housing marking and area services including transportation.
The Canadian Real Estate Wealth article indicates in 2016 the median price of a home was $149,900.00. Our search on realtor.ca also indicates very very attractive listing prices for investors. Single detached homes, 3 bedroom and 1 bathroom today are listed at $59,000.00 and up. As an investor your greatest cost is the 20-30% down payment and then the monthly mortgage payments. In Nova Scotia the high need for rental units, the lower (then Ontario) cost of properties makes Sydney, Nova Scotia a top priority for 2020 investors.
Red and White Realty NS. Inc. agents are always available to find you, the investor, the perfect opportunity to start investing in another province www.redandwhiterealty.com