Buying your first income property can be an exciting step toward building long-term wealth—but it’s important to start with clarity and the right guidance. Here’s what you should know before diving in:
Know Your “Why”
Are you looking for steady monthly income, long-term appreciation, or a renovation project to flip? Your reason for investing will help shape the type of property, location, and strategy you should focus on.
Understand the Finances
Down payments for investment properties are typically higher than for primary residences—often 20% or more. Be prepared for:
- Mortgage qualifications
- Property taxes and insurance
- Maintenance and potential vacancy costs
- Closing and legal fees
Tip: Talk to a mortgage broker early to understand your buying power.
Pick the Right Location
Look for areas with:
- Low vacancy rates
- Steady population growth
- Access to transit, schools, or employers
Communities like
Guelph, Kitchener-Waterloo, Cambridge, Burlington, and Mississauga continue to attract strong rental demand and appreciation.
Think Like a Tenant
Even if you wouldn’t live in the property yourself, your future tenants will. A clean, safe, and well-located unit will rent faster and reduce turnover.
Build the Right Team
From real estate agents and mortgage brokers to property managers and contractors—having the right people in your corner makes all the difference. We can help you connect with trusted professionals we work with regularly.
Ready to Start Your Investment Journey?
Buying your first property doesn’t have to be overwhelming. With the right plan and support, you can make smart choices and start building equity from day one.
Reach out today to chat about what kind of investment property makes sense for you.
