Suited Homes
Suited Homes in Lethbridge: A Smart Investment for Rental Income
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It’s always a wise decision to invest in real estate, and if you’re looking to get into the investment market, there aren’t many better choices than suited homes in Lethbridge. Suited homes offer a range of benefits for investors looking to turn a profit or first-time home buyers who are looking for a way to enter the market and offset costs. In addition to Lethbridge having a strong rental market, Lethbridge’s suited homes also have a number of advantages that might make them a great investment.
Lethbridge Rental Market Overview:
- Average Monthly Rent: $936 (one-bedroom apartment) and $1114 (two-bedroom apartment)
- Lethbridge has a low vacancy rate that has been steadily decreasing (4.4% in 2021)
- The average rent price in Lethbridge is increasing (a 4% increase in 2020)
- The rental demand in Lethbridge is driven by a few factors including a growing population, a large student population, and a strong economy.
Benefits of Suited Homes
Increase Rental Income: The rental income from two separate units is often higher than from renting a property as a single dwelling. This makes suited homes an excellent choice for investors to maximize their rental income.
Reduced Vacancy Rates: With two separate units, there is a decreased risk of vacancy. If one tenant moves out, the reduced income is made easier by the second unit remaining occupied.
Higher Rental Demand: Suited homes are often considered to be more desirable than apartments and offer two separate rental units. This can make them easier to rent out and keep occupied.
With a thriving rental market and the potential for increased rental income, suited homes are an excellent investment. They can appeal to investors or first-time home buyers who are looking for a way to enter the market and offset housing costs.
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