An investment property is an effective way to build wealth and create a future income stream.
Before making an investment, be sure to do your research. Here are a few guidelines to get you started.
Are you financially prepared to purchase an investment property? When investing in real estate, remember to consider the many costs associated with being a landlord. For example, a larger downpayment is required than with your primary residence, and your insurance may be higher than residential insurance.
Knowing what you’re looking for in a rental property will help you narrow your search. There are several things to consider such as: What monthly rental income will you require? Does the property need renovation or repairs? Is the property close to amenities?
A pre-approved mortgage will expedite the purchase process when you are ready to buy your investment property. You’ll be able to search for a property with the confidence of knowing your price range, and we’ll guarantee your mortgage interest rate for up to 90 days.
Work with a professional real estate agent for valuable insight into the housing market and real estate investing, including property values, neighbourhood information, and zoning regulations. A realtor also ensures you have all the information you’ll need to make your decision, and helps you write and negotiate your offer to purchase.
As a landlord, it’s vital to know your rights and responsibilities. British Columbia has tenancy rules that landlords must be aware of before owning and operating a rental property. Be sure to conduct your research on BC tenancy rules.
You’ve found an investment property and made an offer. Once your offer is accepted, your real estate agent prepares the documents for you to share with KCU and your lawyer in order to finalize your mortgage and complete the purchase of your new investment property.
Purchasing a residential investment property requires sound financial advice and flexible loan options. Our Senior Advisors can help:
The rates are effective as of March 30th, 2020 and are subject to change without notice. Some restrictions may apply.
Use the mortgage calculator to determine how much you can borrow and to estimate
your monthly mortgage payments.
Extended hours at select branches to help you
Mon-Fri 10:00 AM- 8:00 PM • Saturday 10:00 AM- 5:00 • Sunday 12:00 PM- 4:00 PM