Income properties in Halifax and around the world – should you buy?

by steve on July 9, 2013

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Ever thought of buying income property? If you’re reading this blog, chances are you have. Everyone and their brother seems to be doing it these days. Or at least talking about it. And why not? Like me back in high school, the idea of renting out a house or condo is popular and attractive.

Think about it—you buy a house, fix it up a bit, and your tenants pay your mortgage. What’s not to like? Well, plenty, actually. The dream of income property ownership and the reality are two very different things. (Ask any income property owner—they’ll tell you!). And if you’re not prepared for the responsibility that comes with them, you could be in for a surprise.

But, if getting into owning income property is your goal, there is an option to owning actual real estate: Real Estate Investment Trusts. This article from CityNews Toronto and Money Sense magazine explains REITs and how they’re a great second-best to property ownership.

Steve Ritchie is a REALTOR® with Keller Williams Realty in Halifax, Nova Scotia. He will help you search for Halifax real estate on the MLS ®  and other star systems.

Photo Credit: lilife2012 via compfight

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