As you progress in your life, you start to look forward to the sunny, relaxing days of retirement. But figuring out the finances to allow a peaceful, fun-filled retirement can be tricky. The good news is that real estate can help you build out a stable and secure retirement plan that will allow you to retire and relax! Let’s look at 6 reasons why real estate should feature in your retirement plan. 

1. Provides long-term stability: Real estate isn’t a get rich quick scheme, and because of that, it will provide you with long-term security. Real estate values increase over time, so if you ever sell your investment property, you can plan on getting a great return on your investment.
2. Diversifies your portfolio: If you want to have a stable and secure retirement, you shouldn’t focus just on building out your RRSP. Investing in different areas, like real estate, will help you build out your portfolio and will ensure your eggs aren’t all in one basket.
3. Tax benefits: The tax benefits that come with real estate investments are definitely something to also consider. Additionally, if you have a rental property, you can write off expenses related to the property to decrease your taxable income.
4. Opportunity to build capital: Real estate can help you build wealth as you develop equity in the properties. Additionally, if you invest in a rental property, you can also bring in monthly passive income to pad out your retirement income. 
5. Hedge against inflation: If you know anyone who’s retired in the last few years, you’ve probably heard about how inflation has really done a number on their RRSP or stock investments. Real estate appreciates over time and isn’t linked to the market in the same way stocks are, so you have more protection against inflation.
6. Pass down your investments to your heirs: Real estate investments can set your heirs up for a stable and secure living situation. By leaving your real estate to your heirs, you can ensure that your loved ones have a place to live or a great investment that can continue to grow generational wealth. 

Real estate is a powerful investment to factor into your retirement plan to add stability and financial benefits. To build your wealth out for retirement, talk with an experienced real estate agent or some real estate investors to see how real estate can put your money to work for you.

Want to talk more? Feel free to reach out to me anytime. 

Harpreet Christie
RE/MAX of Lloydminster
780-205-7653

Welcome to my monthly real estate market update for Lloydminster. Look at what happened with the Lloydminster Real Estate Market last month.

65 Properties Sold in May of 2023. A significant increase from the previous month. Activity in Lloydminster is relatively active and increasing in sales.

The average selling price range was $306,679, averaging 81 days on the market. The average price has increased slightly in the Lloydminster market.

Is now the time to sell or buy? Of course, it is. Feel free to contact me for a FREE market evaluation.

Harpreet Christie
RE/MAX of Lloydminster
(780)205-7653
http://BorderCityRealEstate.com

Over $900 million is to be spent as Saskatchewan’s Covenant Energy is to build a refinery to produce renewable diesel and jet fuel on the north east edge of Lloydminster.

Construction is to begin in 2024 and production will come on stream in 2026.

Josh Gustafson, president and CEO says they will utilize canola as the raw material for production.

“So, we are looking at about 450,000 metric tonnes of feedstock per year – producing about 430 million litres of product per year.”

Gustafson adds the plant will provide 60 full time jobs and hundreds of jobs over the construction phase.

The CEO who farms in southeast Saskatchewan notes that “by harnessing the potential of prairie-grown resources, the refinery will pave the way for Lloydminster to become a leading hub of low-emission, renewable energy.” Also, the plant will be able to utilize even canola from a difficult crop season.

“We will take obviously the top-grade canola oil that is produced in the region, but we will also be able to take any oil coming from off-spec canola or heated canola. We can still utilize that oil – once it is processed,” says Gustafson.

The new plant will be doing some pre-treatment on-site, but they will take product from neighbouring processors like ADM, says Gustafson.

In a news release, mayor Gerald Aalbers says, “The arrival of Covenant Energy’s renewable energy refinery in Lloydminster signifies the power of collaboration between the Government of Saskatchewan, the City of Lloydminster and Covenant Energy. This milestone ushers in a new era of sustainable growth and solidifies Lloydminster as a prime business destination, creating jobs and fostering economic prosperity.”

The Lloydminster Oilfield Technical Society in a statement welcomes the new community partner to the Border City. President Roger Deeks says,”I believe this is a tremendous project that leverages Lloydminster’s oil and gas workforce and know-how. With both the operating and maintenance labour pools in place, the project has a leg-up on others. We look forward to incorporating more downstream oil and gas material into the 2024 Lloydminster Heavy Oil Show held next September.”

Gustafson confirmed that their capital expenditure for the refinery is $920 million.

The plant will be constructed on the northeast edge of Lloydminster – off 40 Avenue on some 40 acres of land.