Tag Archives: guelph housing

Guelph University Housing and Investment Property

Every year starting in January there is a sudden demand for student housing in Guelph Ontario.  This when students know that they have to start looking for the best accommodations for the following school year. Although this annual ritual may seem strange to the average citizen who assumes that August is when most students should be looking for a place to call home for the semester starting in September, it is not strange to the average student.

Conservatory Garden
Conservatory Garden

Many first year students were stuck single handedly trying to find mediocre accommodation the previous semester, and many settled for student residence with high costs and a lot of chaos! They are determined to avoid this mistake for the second year.  After all they are now veterans and are no longer timid, new freshmen.  They now know the ropes, and the secrets of university life, in addition have aquired a group of friends who all experienced the same crappy living arrangements.  They now, together, hand in hand, flood the Guelph real estate rental market ready to snatch up the best and most affordable living space! they will beat out the unaware new freshmen, many whom in January do not even know what university they will attend never mind where they will live!! Survival of the fittest in action.

So why am I concerned with this annual migration? Quite simple actually!  I am a real estate agent in Guelph, and work with investors who buy and sell rental properties, where these students will live.  I also have the honour of meeting these young aspiring university graduates in my quest to fill the properties I have sold to landlords.

On January first I will set out with the handfull of current clients to buy townhouses, detached houses, or condos, with the intention of providing a place for students to live.  These are the best type of investments in my opinion.  The reason is because students will always be there, I know they will pay the rent, if there are 4 students in a property, there are 4 sources of income, mommy and daddy usually foot the bill, and I know that if there is a problem they will leave.

How can you profit from student rentals? Look for information in my next post, I will tell you!

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Guelph Housing – Winter Renos

Winter has come with a vengeance; make sure to take advantage of the home renovation tax credit while you still can! The home renovation tax credit will provide a one-year 15% income tax credit on eligible home renovation expenses for work done or goods bought between Jan. 27, 2009 and Feb. 1, 2010. The credit may be claimed on eligible expenses greater than $1,000, but not greater than $10,000 for a total credit of up to $1,350.

Before tackling a renovation project, advanced planning is a must and the key to success. Make sure that you understand the process and the people that will be involved in the project. A question to ask yourself is …” is your renovation practical?” Will your investment in the renovation costs make sense through savings in heating or will the investment increase the value of your home for future resale? How will you pay for your renovation project?

Another important thing to consider is what renovation project will give you the “biggest bang for your buck?” Here are a few estimated payback ranges for various renos; kitchen, 75-100%; bathroom, 75-100%; interior painting, 50-100%; exterior painting, 50-100%; main floor family room, 50-75%; and finished basement, 50-75%.