Debt service ratio is essentially the ratio between your income and your debt payments. This ratio is important because it’s a simple way to measure how effectively you can handle your payments.
Farmington Home Price
Across the nation CREW lists data for 5162 neighbourhoods, and this month Farmington is number 1562 putting it in the top half of the country .
While the median for Prince Edward Island is $179,600 , which means that Farmington’s median price is $289,900 better than average than the rest of the province.
If you’re looking at investment properties in Farmington, then you’re most likely to find homes with 3 bedrooms on sale this month.
Prince Edward Island has the fourth least amount of properties available to property investors, with Farmington having 63th most in the province, out of a total of 218.
As one of Prince Edward Island’s many potential real estate investment neighbourhoods, Farmington needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Farmington have increased which would tend to indicate that demand is not as high as supply.
Is Farmington a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
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