Condo investing in North Vancouver: a healthy, happy community provides good returns.
Investing in condos is a safe, long-term investment that offers a historical increase in property values significantly above inflation. If you pick the right development that is priced correctly in a high appreciation neighborhood, then you can make a good return on your investment.
North Vancouver offers several benefits for the sophisticated condo investor--an established, healthy and happy community with easy access to mountain trails and to downtown Vancouver. One of the biggest benefits to investing in North Vancouver is the strength of the rental market, with its high rental rates and solid, consistent demand. At one of the area's most popular new condo developments on Marine Drive, Marcon's Heywood on the Park, investors can buy a one-bedroom and be cash flow positive right away. At Heywood, the most affordable one bedroom home, at 549 square feet, costs $269,000 (including GST). At current rental rates, with a 20% down payment, investors can have renters cover the cost of the mortgage, strata fees and taxes.
"You can invest in a condo and have it pay for itself," says Marcon's Nic Paolella. "It's rare to be able to cash flow from a rental unit. But you can do that in North Van, and that allows buyers to benefit from appreciation and equity."
Marcon's other new residential condo development in Lynn Valley, Mill House, also offers great value in its coveted location close to good schools, parks and trails. Long home to a close-knit community featuring a library, community centre and excellent shops, restaurants and cafes, Lynn Valley will continue to see stable and reliable growth in real estate.
As well as providing great value, North Vancouver is home to the area's happiest residents. In a recent poll conducted by Angus Reid, North Van's proximity to the outdoors and to cultural amenities are among the reasons its residents are the happiest in the region. Other reasons include safety, community and a good place to raise children.
"North Vancouver is an established community that's a desirable place to be with lots of amenities available and for professionals--very accessible to downtown," says Paolella. "Investing here would offer stable and reliable growth over time."
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