Are you a GTA investor who is thinking about the Hamilton real estate market? You are not alone. Remax reported that during the first quarter of 2017, almost 25% of the real estate sold in Hamilton was purchased by Toronto buyers. Investment dollars spent in Hamilton buy a lot more house than they would in Toronto and the immediately surrounding areas, while allowing accessibility for commuters and recreational city-lovers alike.
Interestingly, within Hamilton, Moneysense.ca has rated the 25 top neighbourhoods to consider when looking to buy. Take a look at the ratings here.
110 Frederick Avenue is a fully detached, 4+1 bedroom home with two full bathrooms, a private driveway, and a large backyard. Listed at $299 999, and located in Crown Point East – the number one neighbourhood to buy in, according to Moneysense, it offers solid value for both first-time home buyers and investors. Properties in the area are highly rentable, being close to all amenities including shopping, transit, schools, hospitals, and highway access.
With a downpayment of between 20-25% and a 30-year mortgage at a 5-year fixed rate of 3.49%, an investor could expect to rent this property out and create a positive cash flow of between $150-215.00 per month.
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