For most young people these days, the prospect of owning a home feels pretty distant at best — and impossible at worst. The Canadian real estate market, in major cities especially, has become such that only those with large amounts of capital available to them are able to invest in property.
With added obstacles like mortgage stress tests and student loan debt, the entry to investing seems impossibly high — even more so with the added economic stress of the pandemic. It’s daunting to consider saving for a down payment amidst all the things working against you while planning for all the other big life things, too.
Despite all this, young people still dream of owning something, even if we have to save for five times as long as our parents did.
This is why real estate crowdfunding platforms like addy are doing the work to make investing more accessible for younger generations. addy’s goal is to remove barriers to real estate investing by offering investments for as little as $1.
Unsplash
So how does it work? While addy can’t change the high cost of the housing market, it can make it easier for people to get into the game for the first time. addy scopes out properties and then offers incremental investments on those properties — and all you need is $1 to start.
The properties are chosen by addy’s team of experts, who have decades of experience, ensuring that properties are sound investments. addy also becomes a co-investor in the property, sharing in the risk and reward alongside you. The property is then broken down into investment units starting at $1.
addy handles all the other tricky details of homeownership, from the contracts to finding tenants to conducting maintenance — all you do as an investor is watch as the value of your investment grows. Investors can make money from rental income on specific properties, either in the form of distributions or as a lump sum once the property is sold.
The benefit of using addy to start out as an investor is that the work required on your end is very low, and it results in returns that can be used to continue investing in the future — or to buy a place on your own one day. The properties that addy acquires vary, too, so you can wait to invest until it feels right. One of their previous properties in Chilliwack, BC, was a free-standing commercial property that sold out to more than 800 investors.
addy’s most recent property, open to investors now, is located in Toronto’s high-end Lawrence Park neighbourhood. The Northwood Terrace apartments are a 19-building, 95-unit, multi-family portfolio, which will be undergoing major renovations to increase their market value. Both BC and Ontario residents are invited to invest in the property, with a minimum investment of $1 and a maximum of $1,500.
If you’re interested in investing in this Toronto property or are curious about addy’s other investment properties, check out their website and sign up for a free addy wallet account to be notified when new properties are available.
BRANDED CONTENT
This content was created by Hive Labs in partnership with a sponsor
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
