Lauren Francis | Realtor
Investing in a duplex and renting out one half in Ontario can be a smart real estate move. This strategy offers several benefits for investors looking to generate income and build equity. In this post, we'll explore the advantages of this investment approach in a concise manner.
Dual Income Streams: Renting out one unit provides a consistent rental income that can offset your mortgage payment and contribute to your cash flow.
Cost Sharing: Sharing expenses like property taxes and utilities with your tenant reduces your financial burden and increases your overall profitability.
Flexibility and Future Options: Owning a duplex allows you the flexibility to move into the other unit if your circumstances change, while still generating rental income.
Potential Tax Benefits: There are various tax advantages associated with owning a rental property in Ontario, such as deducting expenses and capital gains tax exemptions.
Equity Building and Appreciation: Over time, property values tend to appreciate, increasing your equity and overall return on investment.