When people look for a solid investment in real estate, they usually look to buy a property that will give them maximum return. So if you go for the commercial property, it is obviously a very good choice. But if you want to retain a property in the long run, then you will probably have to look for a property other than the commercial one. A simple reason for this is that you will have to invest a lot of amount in getting a commercial property. So unless you have a lot of money to invest, you will have to look for an alternative in this concern.
Let me offer you a brief comparison of what you need to know in this concern so that you can decide easily in case you will invest in real estate.
1. Commercial Properties
We all know that how much easy a decision is to buy a commercial property in the downtown of any city. Take the example of Toronto where downtown area and Waterfront are one of the best ones in this concern. You can get your hands-on luxury Toronto Condos here, shops and any type of commercial property here and you can virtually be sure of that you will get a good return in a year or two. You can also buy property in the form of multi-unit apartment buildings.
Once you will buy a commercial property, you will become a landlord and will have to manage it. There are multiple expenses that you will have to bear in this concern, so you must be ready for them as there are many other expenses too. If you are ready for this, then buy a commercial property, else look for an apartment/condo. So let me now offer you some info about buying a condo.
You can just think about buying a condo and there is virtually unlimited choice if you live in Toronto. Just the waterfront area in the West Toronto is full of such condos. You can get a condo there for an eye-popping 2 million dollars or for a meager one hundred thousand dollars. There are a lot of people who would like to buy an average property here as they think that it will suit them well. There are many ways in which you need to make sure that you are making the right decision in this concern.
Condos are not what you think as a layman. There are chances that you are making a wrong decision in this concern. There are many ways in which it is like buying a property only to retain it for a number of years. As most people look for long-term investment, that’s why they don’t sell it and only try to do so when they face a difficult situation and short of cash.
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