PEI is the smallest province in Canada having a population of 140,000. We receive up to a million visitors each year and have a healthy tourism industry. The island is quite agrarian and features rolling hills and green, grassy vistas. We have a long coastline due to our many inlets and other waterways and as a result there is a large amount of reasonably priced waterfront PEI real estate.
The PEI real estate market is a consistent performer. PEI real estate offers great opportunities to get into home ownership due to PEI real estate being some of the least expensive in the country. While the PEI real estate market affords the novice real estate purchaser an easy access stepping stone to owning real estate there are still many higher-end PEI real estate properties available.
The PEI real estate market can be divided into 5 categories.
Much as the PEI real estate market can be relied upon to grow your equity, it is not as volatile as other real estate markets which means that there is growth without the same risk and owning PEI real estate is not such a roller coaster ride. When you combine this with the lifestyle that PEI offers including being a great place to raise a family. This is the family PEI home market. This represents the home that you buy to house you and your family. It is a place to live and creates a return on investment which is preferable to paying rent.
There are many entry level PEI homes available in PEI. This type of PEI real estate represents a great return on investment. Not only do you generate income but also build equity. Most smaller PEI real estate properties, particularly starter PEI homes, are priced under $100,000, some under $50-60,000. This means that while your equity builds more slowly these properties can create a positive cash flow which in the residential real estate market is more commonly achieved when, like in the case of PEI real estate, the initial purchase price is low.
PEI attracts up to a million visitors per year. Many stay in hotels, motels or bed & breakfasts. Others rent cottages or summer homes. You could purchase PEI real estate, cottages and summer homes, that will serve for your own vacation and can be rented to others when not in use. Alternatively you can find large PEI homes that make an excellent PEI real estate investment as well as a good business when converted and operated as a bed & breakfast.
If you own a home in another area of the country chances are that you can find similar PEI real estate at a much reduced price. You can sell in your area and by here and pocket the difference. You can invest in a starter PEI home and other PEI real estate that is suitable for renting to generate extra retirement income.
It is many people's dream to work from home and what a setting you can find in the PEI countryside. With many tourists passing your door, your home and PEI real estate investment doubles as your place of business. Craft businesses are ideal for a work/live situation and if you find a property with suitable outbuildings you can make and sell from your PEI property.
Matthew was born in Anne's Land, a prime PEI real estate area in which you will find Kensington, Cavendish, as well as Malpeque, Stanley Bridge and other famous PEI communities. He is winner of the Century21 Double Centurion Award as well as being number 1 in sales in PEI and #11 throughout the maritimes (2008).
Direct: (902) 439-5257
Email: matt@century21pei.com
Toll-Free: 1-888-268-2111
in 2011
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