Don Murphy and the PEI real estate market - a winning combination

PEI is an island province located 13 km off the east coast of the mainland and connected to New Brunswick by the Confederation Bridge. PEI has a lengthy coastline and therefore PEI real estate listings are frequently waterfront or waterview properties. The PEI real estate market is characterized by less spectacular gains than other "hotter" markets but affords property owners a stable, secure return as it is also not so vulnerable to rapid drops in value. PEI real estate also provides a platform for the first time property buyer to enter the market as PEI real estate prices are considerably lower than most other parts of the country.

The PEI real estate market holds many opportunities

PEI also known as the "Gentle Island" is home to a well developed tourist industry and our population increases to over a million in summer from 140,000 year round residents. Residents and visitors alike purchase cottages and summer homes in the country and the PEI real estate market has a good inventory of suitable recreational properties for personal use as well as rental. Some PEI realtors as well as specialty companies offer property management services to look after your PEI real estate investment both in season, caring for the needs of your guests as well as maintaining your PEI property during the winter. Some will also help to market your PEI recreational property and find guests to rent to.

As alluded to earlier PEI real estate affords some of the best value in Canada and the US. When compared with similar property elsewhere PEI real estate, particularly waterfront real estate is a great bargain. PEI real estate waterfront properties are a prime investment opportunity and is the sector in our PEI real estate market that over the last 5 years has posted the greatest gains. Waterfront property is comparatively plentiful here as well as being available oceanfront, on riverways, and situated on bays and inlets. As such PEI waterfront real estate has a variety of characters.

There is something in the PEI real estate market for everyone

The PEI real estate market tends to be split into 2 categories. There is the local market, which consists of permanent residents looking for family homes and then there is the recreational market, consisting in large measure of summer visitors looking to combine vacation and real estate investment. There are however several other categories of PEI real estate purchaser. There is the retiree coming to PEI for the lower PEI real estate prices and the PEI real estate investor who purchases starter homes to rent to fellow islanders. There is also room to combine these ideas into one and move to Prince Edward Island when you retire using the equity in your current home to fund a PEI real estate purchase that is a mix of personal PEI home and investment rentals.

Should you decide to follow this route and you own a home in an area of higher real estate prices such as Toronto or Vancouver where the average prices can be around $400,000 and up, you would be looking for a primary PEI home in the $200,000 range plus the purchase of 3-4 rental homes which would account for the rest of your equity. In this way you have split up your PEI real estate investment into half for personal use and the other half to bring in an income which could be in the range of $2000+ per month. As you can see a PEI real estate investment such as this would provide a place to live and an additional income.

Don Murphy is your guide when buying PEI real estate

Don Murphy and Century 21 can provide further details and help you find your place in the PEI real estate market. Please browse throught the PEI real estate listings on this site and then contact Don as he is committed to providing superlative PEI real estate services. Don Murphy takes the time with all buyers whether a local family or someone flying in to invest in the PEI real estate market with the same level of professionalism. Don's area of service includes the whole western end of PEI and he knows this area well, having access to some of those little known properties that are not officially listed but are available.

In addition through our in-house mortagage brokerage Don can help you secure financing for your PEI real estate purchase as well as advise you on mortgage issues including qualifying. Talk to Don today about your PEI dream and purhcase of PEI real estate. You can soon be counted as an island resident and enjoy the peace and tranquility of island life. PEI is a great place to call home, to raise a family or to retire.