You may have read our recent article about why investing in Calgary real estate can be lucrative when done the right way. We outlined two routes investors take to profit off real estate: fixing and flipping property and owning rental properties. Both of these options rely on you to have some financial cushion. And additionally, the means to keep up with maintenance costs, mortgage interest, etc. While both options are favourable for distinct reasons, the properties in which you will invest will likely differ. For example, if you’re in the market to flip, you’re most likely looking for an older, undervalued property. Whereas if you’re looking to own rental properties, you may be looking for something a bit newer and more up-to-date. If you find yourself wondering where a good neighbourhood is to invest in Calgary real estate is, keep reading!
For the flippers
While not necessarily a new neighbourhood, Bankview is still a Calgary favourite. Tucked in behind 14th Street, you will find that Bankview has a collection of townhouses and single-family properties. The community’s homes have a ton of character and no shortage of houses that would thrive after some TLC. If you’re looking to flip an older home in a family-friendly neighbourhood, Bankview is a great consideration.
Just off of 14th Street, North Haven is home to many single-family houses, bungalows and townhomes. The neighbourhood has both new builds and renovation projects. Rest assured that the opportunities to fix and flip or invest in a newer rental are plenty. With the influx of people investing in flipping homes, North Haven is a great place to connect with other flippers! The proximity to 14th Street is certainly appealing for those looking for quick access around the city.
The family-friendly environment that Evergreen offers is why it is a great place to invest your time and money. This neighbourhood offers a wide selection of properties, which means you have no shortage of choices. It’s an excellent place to begin looking for a property to flip, as there is such a selection of prices. The convenience of Evergreen’s location is also something to consider when you are thinking of resale.
One of the most beloved areas in Calgary, Bowness is bursting with friendly neighbours and tons of community events. Located on the northwest side of the city, homeowners here have easy access to great schools, parks, and shops. Flipping a house in this neighbourhood is a great consideration! People who live in Bowness are incredibly proud of their community, with a tight-knit neighbourhood feel.
For the rental owners
A neighbourhood with a desirable mix of new and old homes, Altadore is the place to look. If investing in a newer rental property is the goal, you’ll be pleased to learn about Altadore. The neighbourhood is home to some more luxurious properties as well as character houses. The community is close to River Park, one of the city’s most popular off-leash dog parks. And we can’t forget to mention that it’s just a hop, skip, and jump away from downtown.
Known for being one of Calgary’s best neighbourhoods, Beltline is a dream community in many ways. Its central location and trendy community are just a few reasons why it’s a beloved part of the city. Any property in the area is close to chic boutiques, shops, and restaurants. Additionally, Beltline holds one of Calgary’s lowest crime rates. These are a few traits that make a renter’s heart swoon. If you’re looking for an investment property that will be favourable for years to come, Beltline is a winner. It’s a millennial’s ideal community.
Should you be searching for an investment property to rent to a family, you will undoubtedly want to check Evanston. This neighbourhood is an ideal place for families to grow into. With plenty of parks, schools, and trails in the area, there’s something for everyone. Tucked into northwest Calgary, Evanston is the sort of safe suburb that families often yearn for. Owning a rental home in this community is worth considering, as long-term family renters are frequently looking in this area.
Situated close to downtown, Renfrew is both an established and affordable community with perks worth exploring. If you’re in the market to purchase a rental property, this could be the neighbourhood for you! The selection of schools and close distance to shopping while being near downtown makes Renfrew a renter’s ideal location.
In a nutshell
Purchasing a rental or intending to fix and flip a home are two very different methods of investing. While both require a lot of commitment, investing in a rental can be slightly hands-off, where flipping commands more participation. Whichever neighbourhood or investment method you choose, rest assured knowing Calgary is one of the best cities in the country. The opportunity to profit off real estate is thriving here in YYC.