I just purchased one in Marda Loop area (finally got out of downtown condo). Love it. No condo fee, bigger than a skinny home and less maintenance than a suburban house.
I love marda loop within 5-10 years that area will be amazing. Just need to hurry up and finish that road construction. I also, strongly dislike how they allow parking along the main drag. I think thats quite annoying, keep it two laned in both directions for the entire strip. Kind of silly
Anything around Crowfoot is usually 70's duplexes and they go fast because they're under 600k. I saw a lot of investors last Summer because the places I tracked went on rentfaster right away. Lots of illegal suites. Now that they're on the cusp of 500k, I don't see it as much. Or maybe neighbours are reporting the suites to the city development office. Nutty prices though if you're used to 2014 on.
A lot of investment properties simply dont work (cashflow) if you have 20% down. Which is the majority of these investors. With a higher mortgage rate, higher home prices and increasing rents its not enough to off-set the cashflows right now. I agree with you, so many of these old units are getting soaked up for a lot of cash, pretty confident when the market starts to really slow down. Who knows when, maybe 3-5 years they will decrease pretty quickly especially as investors typically dont maintain their units as much as they should. Many people think these prices will only ever go up but dont look into Calgarys interesting history over the past 24 years.
I've been reporting the illegal suites in my neighborhood with too many renters in it for sure. One got put on sale maybe because of it but these clowns just wait a few months before trying again. I report them again lol
I really like half-duplexes. I would buy 100's of them if i could.
What do you think?
I just purchased one in Marda Loop area (finally got out of downtown condo). Love it. No condo fee, bigger than a skinny home and less maintenance than a suburban house.
I love marda loop within 5-10 years that area will be amazing. Just need to hurry up and finish that road construction. I also, strongly dislike how they allow parking along the main drag. I think thats quite annoying, keep it two laned in both directions for the entire strip. Kind of silly
Anything around Crowfoot is usually 70's duplexes and they go fast because they're under 600k. I saw a lot of investors last Summer because the places I tracked went on rentfaster right away. Lots of illegal suites. Now that they're on the cusp of 500k, I don't see it as much. Or maybe neighbours are reporting the suites to the city development office. Nutty prices though if you're used to 2014 on.
A lot of investment properties simply dont work (cashflow) if you have 20% down. Which is the majority of these investors. With a higher mortgage rate, higher home prices and increasing rents its not enough to off-set the cashflows right now.
I agree with you, so many of these old units are getting soaked up for a lot of cash, pretty confident when the market starts to really slow down. Who knows when, maybe 3-5 years they will decrease pretty quickly especially as investors typically dont maintain their units as much as they should. Many people think these prices will only ever go up but dont look into Calgarys interesting history over the past 24 years.
I've been reporting the illegal suites in my neighborhood with too many renters in it for sure. One got put on sale maybe because of it but these clowns just wait a few months before trying again. I report them again lol