There are many reasons why you should choose real estate over other investment opportunities like stocks. For starters, rental property can earn you a stable, regular income.
As a property owner, you are also eligible for tax deductibles come tax season and can use your property as security for a loan. Provided that you have invested in a reliable market, real estate appreciates in the long term.
While real estate is a good investment option, there are many factors that potential investors should look into before committing to it. For example, the location of the property, the state of the local economy, the demand for housing, and the appreciation of the property all play important parts in your investment’s success.
Property investing is not only about the here and now. It’s a mid to long-term investment.
Regina checks off all these boxes. When it comes to real estate investments, this area is promising. For those looking to invest in Regina real estate, Leenan Homes has provided some reasons that make this such a lucrative opportunity!
Reasons to Invest in Regina
A Vibrant Economy
A strong economy is ideal for the residents of a city and the region at large. Investors are enticed to set up regional headquarters in the area, and professionals flood into the city to take advantage of the available opportunities. This description fits the economy of Regina.
The city has done a considerable job to diversify the economy of the city. The major industries in the area include information technology, agriculture, manufacturing, steel and, energy. Save for the local government, some of the notable players include Evraz Inc., Bayer Crop Science, ADP, and Co-op Heavy Oil Upgraders.
The benefits from such a strong economy are bound to spill over to other sectors such as hospitality, transportation and, most importantly, real estate.
Growth in Population
For several years, Regina has ranked high in terms of population growth in both Saskatchewan and Canada. High population growth translates to an increase in the demand for rental housing. Rental property owners can charge more for rent as a result, boosting their profits.
In addition to its fast population growth, Regina is also a young city. From the latest census results, a significant part of the population is young. This means more people will be looking to rent than in cities with an aging population.
Affordability and Variety of Real Estate
When considering where to purchase property, investors typically have a list of factors that will advise their final decision. The top factor tends to be the price of the property.
The affordability of Regina has enticed people to move to the city, also increasing the city’s draw for investors. Compared to other city real estate markets in the country, Regina is significantly more affordable.
But when you consider the growth in population and vibrant economy, property is bound to increase in price. Potential investors are encouraged to strike when the iron is hot.
Property investors have different financial goals that can be met by investing in real estate here. This is because Regina offers a wide variety of property options, from studios to apartments to three and four-bedroom single-family homes.
With young people dominating the population, it points to other factors that are enticing them to the area beyond just work and housing. One definitive factor is the availability of good local education in Regina. Young parents have a diverse number of options when it comes to schools for their kids.
There are three school divisions that provide quality education to kids: the Regina Public School Division, the Conseil des Ecoles Fransaskois’s, and the Regina Catholic School Division. Private schools are also available in Regina.
Some of Regina’s notable public and private options include Douglas Park School, Albert Community School, Sacred Heart Community School, Miller Comprehensive School, and Luther College High School.
There are also several top-tier universities in the city, including the University of Regina and Luther College. Investors can choose to offer student accommodation due to the constant stream of college students into the city.
Regina has a plethora of activities to offer its residents, boosting its appeal for those looking to relocate and helping investors as a result.
A must-mention is the city’s historical appeal. Regina has a rich culture and history and displays it through its heritage buildings, museums, and art centres. The history buffs and lovers are encouraged to visit the Royal Saskatchewan Museum, the Mackenzie Art Gallery, and the Saskatchewan Legislative Building.
There are also several beautiful parks to choose from for those with a love for the outdoors!
Demand for Housing
With the details offered above, it should not be a surprise that the Regina housing market is doing extremely well. Statistics from the MLS reveal that properties are being snatched up faster than in previous years. Don’t debate on your decision for too long since it’s a great time to get an investment property while you can!
You can now understand why investors and homeowners are jumping on the chance to purchase Regina real estate. The cost is affordable, the economy is doing well (and projected to do better), and the quality of life is indisputable. The young population in the city makes Regina a viable opportunity for investors looking for rental properties.
If you are considering purchasing a property that you’d like redone, call on Leenan Homes! We’re top in the business when it comes to remodelling in Regina. For those looking for an even bigger investment project, we’re pros at building new homes. Contact us today to learn more about how we can help you in your real estate pursuits!