Permanent Property Ownership: Why It is Important

Real estate trends have had a dramatic shift in the past 15 years. We can mostly attribute this shift to the housing crisis and the eventual collapse that took place in the real estate market that ended up costing a lot of people their homes. The after-effects of this market crash can still be felt over ten years later because the prices of houses have only been increasing, and the number of people interested in buying has drastically been going down.

Yes, you read that right. People are actually not buying enough houses. In fact, the number has only been declining over the years, and this is for a number of different reasons. If anything, more people are choosing to live in apartments even when they can realistically afford a house. However, this is a real estate trend that needs to shift. Rental property is only a temporary investment, and it is essentially a fruitless one the older you get because you will eventually want to settle down, and having a temporary apartment is not really that great.

This is where you have to move towards permanent property investment. If you do not want a house in the suburb or you simply cannot afford one, there is another way you can opt for permanent property ownership, and that is by buying a condo for yourself. They mimic an apartment, are much cheaper than houses, and are permanent property, so you will continue to have a sort of safety net to fall back on. In case you want to buy a condo or are looking for potential options, you can check out bijou on bloor condo. Permanent property ownership is ultimately a smart investment in the long-run, and it is an investment your future self will thank you for.

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