What You Need to Know About Buying an Investment Property in Toronto
If you’re thinking of expanding your Real Estate portfolio to purchase an investment property in Toronto, it’s helpful to understand a few of the basics. Owning a second (or even third, fourth or fifth) property may be easier than you think!
First, it is important to understand your home equity. What exactly does that mean? Your home equity is the difference between your property’s market value and the balance of your mortgage. Basically, it includes whatever money you’ve paid into your mortgage that has gone towards the principle AND any increase in market value over time.