The easiest and best investment properties for first time investors are residential single-family freehold and condominium homes. Condominium properties can be high-rise or low-rise buildings or two/three-level properties within a complex. Condominium apartments or town homes are low maintenance as the condominium corporation is generally responsible for external repairs. There is a monthly cost collected by the condominium board from each unit that is directed towards maintenance and future costs related to the properties.
These types of properties are a very popular vehicle for investment in Toronto where both supply and demand for these units seems to be balanced. While the price points of condominiums are more reasonable, many investors opt for freehold residential properties. These types of properties are usually town homes, link homes or semi-detached homes and are usually more spacious, catering to family style renters, and have proven to have a very positive return on investment overall.