There are plenty of reasons to be interested in cheap properties for sale in Regina. They can become decent rental properties, they can be obtainable for people with cash not credit and they can be affordable for international or cross country buyers with lots of cash. Buying lower priced properties comes with some risk and alternatively some reward if the market is right.
The thing about cheap properties for sale in Regina is that they are mostly located in what can be considered a “shady” area. Of course, it's wrong to paint every home in one neighborhood with the same brush but let me show you some statistics.
According to the stats provided by SRA for the month of September 2022, properties in Washington Park sold at an average price (total residential stats) of $59,784 with an average days on market of 77 days with over 6 months of inventory, compared to the averages in city at $306,000, 55 days on market and under 4 months of inventory. This suggests that the Washington Park area can be tough to sell in.
You can also look up the crime rate here. Using this resource, Washington Park is referred to as North Central and you’ll see that it has the highest amount of crime activity.
AreaVibes can be a great resource for sourcing information on one specific neighborhood compared to the rest of the city, here is the link to North Central using AreaVibes.
Now if you do your research and decide to make an investment in this area, as long as you’ve done your research that is great! More often than not buyers from both sides of Canada inquire about cheap properties for sale in Regina without knowing this information and buy these properties for cash sight unseen. If there is any one thing you should know about cheap properties for sale in Regina it is that not all property management companies will agree to service properties in these questionable neighborhoods. So as a buyer, you need to make sure that if you are not able to manage the property yourself then you need to have a good property management company available and ready to take on the property.
There are other area’s in Regina that have great options for affordable real estate. Click the links below to see the properties:
1. Pioneer Village, Regina
2. Glen Elm, Regina
3. Regent Park, Regina
4. Rosemont, Regina
My hope is that this article is helpful in assisting you to make wise real estate investment decisions and that you opt to allow me the opportunity to help you look for your next investment property. If you have any questions you can call me at 306-552-7047 or fill out my online contact form.
Kelsey Smith Is Regina’s Choice
Choosing the right Realtor® is key to ensure a positive and successful real estate transaction. Kelsey Smith promises to deliver the education and time necessary to buy or sell your Regina home. Call 1-306-552-7047 and rest easy knowing you have made the right choice.