Buying Ontario luxury real estate might not seem worth it at first glance. However, a luxury property can be one of the most stable and lucrative assets in your investment portfolio.
There are several reasons why people choose to buy high-end real estate. From rental opportunities to high resale value, luxury real estate opens many doors. Learn more about the benefits of owning Ontario luxury real estate below.
1. Ontario Luxury Real Estate is Low Risk.
Real estate has long been considered a low-risk investment. Whether you are investing in a primary residence, vacation home, or second property. In comparison to investments like stocks, real estate is assessed to be much more stable. The same logic applies to luxury real estate.
Home value and equity build over time because they are physical assets that respond to economic factors like inflation. As the cost of living goes up, so does the value of your property. As an owner or landlord, this is great because you can justly raise rent or lease prices if pertinent. Capital growth is assured in nearly every real estate investment.
Especially given the current state of the market in Canada. These reasons make luxury real estate a smart investment to add to your portfolio.
2. Added Control and Flexibility
Luxury properties offer more control and flexibility than other property investments. A luxury property can come in many different shapes and sizes. For instance, a single-family home, cottage in the woods, waterfront bungalow, or a condominium in the heart of the city.
There are endless types of luxury real estate you can choose from. Having a unique and high-end piece of real estate provides the opportunity for a second source of income. The ability to use your investment makes real estate advantageous.
3. Ontario Luxury Real Estate Provides Rental Opportunities
In recent years, people have started acquiring luxury properties to rent them out as high-end vacation rentals. This is because luxury homes are a prime asset in starting a lucrative vacation rental business. Social media has popularized visiting unique and lavish properties. Thus, making it easy to find customers willing to pay a pretty penny to stay at your property.
Furthermore, allowing people to rent your space to host special events is another way to make additional revenue off your investment. For instance, letting people conduct weddings, milestone birthdays, anniversaries, or corporate events.
In addition, since you are the owner of the property you are in full control of prices, timelines, bookings, rules, etc. Being the landlord means that everything is done on your terms. This means you won’t have to worry about your voice not being heard.
Homes with unique amenities or great locations are perfect candidates for a successful rental property. If your property ticks off one of these boxes, customers will come from all over looking to stay in your luxury home.
4. Resale is a Breeze!
Ontario luxury real estate that has the right amenities and location makes for easy resale. A home with high-end features or proximity to restaurants and entertainment is going to have a better return on investment. However, this all depends on market conditions and how the home has been maintained. If your home has been staged and marketed wisely, you shouldn’t have any issues making a substantial profit off of your property.
Moreover, since the COVID-19 pandemic, many people are in search of higher quality homes. Properties that have gyms, yoga rooms, bars, pools, or theaters are extremely appealing to current buyers. Being able to live a lavish lifestyle from home has become more and more enticing to global citizens. Additionally, the more space your property has the better. After being locked indoors for almost 2-years, people are excited by large homes on multiple acres of land.
Contact us About Ontario Luxury Real Estate!
Ontario luxury real estate is a smart and stable investment to add to your portfolio. The opportunities you unlock by purchasing a luxury home are unmatched. For more information on buying a luxury property, contact us today.
Be sure to check out our Instagram page here for the latest updates and more. We’d be happy to help you find an awesome high-end property in Ontario.
Feel free to reach out to us at any time, we look forward to working with you soon!