For those of you that have a knowledge of the Halifax Real Estate market,if you were to buy a propety to rent out, what would it be and in what location

Hey Southcote

I kind of depends on what your objectives are and also your budget. if you're looking for rental income then the biggest rental markets are on the Peninsula and, to a lesser extent Bedford. Halifax has a strong student rental market and Halifax and Bedford probably have a decent "young professionals" rental market. There are also opportunities in renting to families in most areas but obviously there aren't the same number of renters so you could end up with vacant periods.

However, if you are just looking for capital gain rather than rental income then I would be a bit cautious of Halifax peninsula at the moment. I read a report a few months back that showed a lot of people are moving away from the city to the suburbs. Suburbs or commutable areas like Clayton Park, Fall River, Tantallon tend to be growing the fastest. Bedford is an area that has experience a lot of price growth but is now quite expensive and people seem to be moving out further still to areas like Waverly and Fall River. Many people say you cant go wrong if you buy in South End Halifax but its expensive (hence my question about your budget). If you plan to spend $250k on an investment property South End wouldn't be an option (prices are in the $500k plus range).

If I was looking for just capital gain over the long-term I would probably by oceanfront land. If there isn't a building on it then you hardly pay any property tax (it is taxed as a "resource" which is a much lower rate) and you don't have to spend any money on maintenance or insurance. Obviously though you cant generate an income from it either. Nova Scotia seems to be one of the few places in the world where you can still buy direct oceanfront land (even sandy beachfront in certain areas) at a reasonable price. But even here it is getting harder to get and prices can only go upwards!

Hi Paul

Budget would me more in the $200k region than $500k mark. In terms of what I'mlookinfor (income vs growth) the true answer is an element of both. I'm in it for the longer term, so capital growth is important, but vacant land doesn't realy apeal as I'd also like some ongoing income. I'm not looking for it to service a full mortgage, but don't wish to be putting my hand in my pocket on a monthly basis.

I've loked at downtown, as this is where I expected to see demand, but I have also been told to look at small houses in Sackville. I'm comfortable that if we do eventually go to NS (as is looking favourite) that I know where we want to live, so I may well combine an additional recce trip with finding areas to buy investments- just wondered where to focus my research