Rushes of Southfork Homeowners Reap Returns

August 2018


Rushes of Southfork Homeowners Reap Returns


Richard and Sonja Rahbani discovered a personal and business venture at Rushes of Southfork, five-times over in Leduc, Alberta
 
 
Whether shopping for a personal home, or looking to become a landlord with an income property – homebuyers will always consider return on investment in a real estate transaction.
 
Richard Rahbani and wife and Sonja discovered both a personal and business venture at Rushes of Southfork five-times over in Leduc, Alberta.
 
 
Since 2014 they have purchased five units at the townhome community, built by Hunter Residential Developments.
 
 “We looked at options and layout and value for our dollar. And we ended up purchasing two units at once,” said Richard Rahbani. They call one of the properties home, and the remaining four are rented.
 
 “A big reason that we continued to purchase additional units was our experience with Hunter,” said Rahbani – adding that Hunter’s salesperson Kit Morrier has since become a friend, and company general manager Priscilla Unger made the transactions easy. Meanwhile, the construction personnel and service teams who attended to tune-ups post-possession were responsive to their needs. It was most logical for the couple to continue the relationship.
 
 
They searched elsewhere to diversify their inventory, but could not find anything offering the same bang for the buck. 
 
“The value for the dollar is very hard to compete with - the finish we received for the dollar. I couldn’t find anything that was close that would give me a similar return.”
 
 
 
As residents, they know firsthand the benefits of the neighbourhood, and they’re close by if their tenants need anything. The fact that the properties are new means they require little in repairs except for paint and cleaning prior to changing over to new leaseholders.
 
Choosing Leduc was a happy accident as the couple encountered the site while taking a shortcut – and a closer look revealed the property was as functional as their former single-family home.
 
“The layout has a very good functional use of space. There’s lots of light, and the finishing is durable with upgraded materials,” he said.
 
 
 
They noticed the quick commute to Edmonton for work was stress-free with a single on-ramp from the highway compared to rail crossings, lights and left turns that tested his patience driving to other communities.
 
 
 
The location also allows them to see siblings, parents and in-laws who are close in Edmonton and Wetaskiwin. Leduc offers a longer list of stores and restaurants over smaller centers.
 
 
 
Without children of their own yet, the couple finds the dual-master design will suit their home life for about four more years if they convert a bedroom to a nursery. The lock-and-leave aspect to a condominium with no exterior maintenance means travel is worry-free – especially when the Edmonton International Airport is a seven-minute drive away.
 
 
 
From the beginning, the couple has kept to a strategy to hold their investments long-term versus a quick flip. Given the change in area’s oil economy, fewer would-be tenants are lining up for rental units – but the Rahbani’s plan accounted for vacancies so it won’t leave the couple on shaky financial ground or settling for unsuitable renters.
 
“We make sure our renters are people we would like as a neighbour,” he said. “After all – we live here too.”