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Generally speaking, real estate is not a get-rich-quick scheme but if you review Canadian Real Estate history, property in a good area doubles in value about every fifteen years. Some neighbourhoods evaluate more quickly than others but seldom to you hear about anyone losing money in real estate, over the long term- especially if they've taken the time to choose the right investment.
Assuming you've spoken to a lender and you've gotten pre-approved and know your price range and how much you need for the down payment and you've factored-in a little buffer for unexpected repairs or incidentals- AND regardless of whether you plan to live in the property or rent all or part of it to tenants, the top three considerations when you contemplate a real estate purchase are location, location, location.
Sure, you've heard it a million times, but have you really thought about it?
There's more to location than scoping out the schools and hospital, it's wise to visit the property at different times of the day and night, on both sunny and rainy days. Talk to the neighbours, ask about drainage, snow removal, school buses and garbage pick up or disposal sites.
Purchasing real estate should always be thought of as an investment and it can be financially rewarding but if you have to sell suddenly, you're going to better off with a property that checks off all the boxes and is located in a good, stable community.