Whether you plan to invest in real estate this year or three years from now, the first thing you need to do is educate yourself with the ins and outs of Canadian real estate. Just by reading Toronto Storeys, you’re off to a great start. To help you dig a little deeper, we’ve compiled a list of our six favourite Canadian real estate books for owners, renters and investors.
The all-time best selling Canadian real estate book, Real Estate Investing in Canada is the best book for beginners. Not only is the book entertaining, but it’s also filled with concrete examples of good and bad investments.
When the Bubble Bursts: Surviving the Canadian Real Estate Crash by Hilliard Macbeth
With speculation of a recession in 2019, now might be a good time to read this real estate myth-busting book. Macbeth offers a cyclical look at the Canadian real estate market that might leave real estate optimists on edge. But this isn’t a doom and gloom book. Macbeth provides helpful suggestions for coming out of the crash unscathed. Whether you think the market is going to crash or not, this book is a worthwhile read.
The Wealthy Renter by Alex Avery
Do you still believe buying is the only option? If so, you need to pick up this book. Despite being an owner himself, Avery explains the economic pros and cons of renting vs. buying. The helpful charts and data analysis will help weary renters feel more comfortable with their decision. Though this book leans more in favour of renting vs. buying, Avery makes it clear that what works for one will work for all. Instead, he writes in a way that empowers readers to make the best decision for themselves.
Mortgage Smarts by Peter Dale and Helen Jones
Before you even attempt to get a pre-approval, pick up this short read. Mortgage Smarts lays out the mortgage rules and requirements for each province in an easy to decipher chart. Originally published in 2015, this book does not include information on the mortgage stress test that was implemented at the start of 2018, but it does cover all other aspects of the mortgage application process including associated costs for acquiring and terminating a mortgage in Canada.
The title says it all, this book delivers the truth about investment properties. Broad shares her ups and downs as a landlord, making for an interesting read. But this book is about more than just her experiences. Broad offers insights into the business of rental properties making it easier for readers to figure out whether or not they have the stomach for the real estate roller coaster.
From Renos to Riches: The Canadian Real Estate Investor’s Guide to Practical and Profitable Renovations by Ian Szabo
Whether you purchased a fixer-upper or are getting ready to list, this helpful guide reveals which home renos are worth it and which are a waste of money. Szabo takes the guesswork out of figuring out which renovations have the highest ROI and even provides suggestions on how to save money while renovating. Easy to read and filled with practical advice, pick up this book before you pick up a hammer.