Our investment partners often express wonder: is a condo unit good collateral for my investment? In short, the answer is yes!
Here are 4 reasons why condo investment opportunities from Hosper are a good choice.
- Valuationis generally more precise. Condos have very similar builds, making recently sold comparable units relatively accurate to rely on for market value, especially comparable units within the same building.
- There is growing demand for affordable housing in Ontario, and condos fill that gap.
- Large, unexpected household expenses typically fall under the condo corporation's responsibility rather than the unit holder. Condo fees force homeowners to budget for these property expenses. Occasionally, clients borrowing on non-condo properties tell us that a large unanticipated home expense (i.e., replace furnace, replace shingles, etc.) is the reason for missing their payments.
- Each condo's status certificate is reviewed by our lawyer on every deal to ensure there is minimal to no risk with the condo corporation.
To put it simply, condos are a suitable investment choice whether you are a first time investor or are looking to diversify your portfolio.
If you are looking for a new investment, please connect with your Hosper Investment Service Representative. We are happy to help!