The most popular investment in real property is purchase of rental houses. The money returns that an investment property provides are not restricted to monthly cash flow only.
Remember that each time when one makes a mortgage payment then you are indirectly paying to yourself only.
The presence of Oil sands in Alberta and the increased commercial exploration activity has resulted in boom in the property prices.
Edmonton being the capital of Alberta has benefited immensely from the increased investor boom and new inhabitants.You can read freedom mentor review via various websites.
Even though these prices have increased, they are within manageable and affordable levels compared to the national market.
The market is driven by the end buyer and not by speculation so the price spike has not been too sharp unlike in other regions like Vancouver where the boom cycle has been fuelled by intense speculation.
This makes the current scenario remarkable and enticing for the end home buyer who wants to own their first home or upgrade or buy an extra property for rental income.
According to the RBC Economics Research, Edmonton remains the most affordable city in Canada.
The affordability measure is rated at 31.5 %. That means only 31.5% of the monthly income is required to afford an average separate bungalow in Edmonton. This includes taxes, utilities and the mortgage payments.