The growth in property values in Ontario makes it one of the best states to invest in real estate. In Ontario, real estate prices are high due to various factors, including a rising income, high employment rate, and rapid population growth.
This is why Ontario is the perfect place for investing in real estate, long-term or short-term. In addition, you shouldn’t assume that you must rent your property when you buy one in Ontario. If you want to enjoy the summer in a second home, you can sell it and put all of the money into your account.
How you manage your properties is completely up to you. To obtain income every month, most people choose to have three or four properties in their inventory.
Additionally, you will be able to charge more for a property in a city such as Toronto than you would in a small town. It all comes down to location. The following section will tell you where to buy real estate in Ontario.
Hamilton
Due to its exponential growth in rental rates, Hamilton was ranked as the best city to buy real estate in Ontario in 2019. There is a wide variety of real estate prices in this city’s diverse neighbourhoods.
Several post-secondary institutions are located in Hamilton, such as Mohawk College and McMaster University. Therefore, there will be a large number of national and international students in this area looking for housing options. In addition, there is a 3.1% vacancy rate.
East Hamilton provides many residential properties in this city, making it a good place to invest in real estate. In addition, there are many restaurants, parks, and shops in this area, so it is a great choice for young couples and bachelors.
Windsor
Ontario’s city of Windsor is located in the southwest region of the province, directly across the river from Detroit. Renting and buying a house is more affordable in Windsor, making it one of the best cities in Ontario to invest in real estate.
So despite the increase in housing prices here in Windsor, there are still more affordable properties compared to Toronto. You can also charge a high rate if you decide to rent. Windsor has a 2.6% vacancy rate.
Furthermore, the population in this city has been growing for the past few years. The unemployment rate is low, and its infrastructure has improved. This makes Windsor a desirable place for investors of all types.
Guelph
Guelph is among the best places to buy real estate in Ontario. The greatest percentage of people are employed in Guelph, so in case you wish to sell your home, you will find tenants with stable incomes in Guelph.
Guelph also has a low vacancy rate of 1.4%, which means that there aren’t enough rental properties in the city. Furthermore, rental prices across Ontario are increasing, as we see in many cities.
There are many opportunities for people who want to rent or buy houses in this area, as the economy is booming in Guelph. The University of Guelph is located in this city, and, as a result, thousands of students are looking for inexpensive housing near campus, which could be beneficial for you.
LONDON
London is home to both Western University and Fanshawe College, making it one of the best places to buy real estate in Ontario. You will find that this city has become a technological hub because it attracts the nation’s best employers.
With the London vacancy rate down to 1.8%, now is a great time to invest in real estate. If you are interested in buying new properties in London, you should consider the North and Southwest regions where the demand is high. You might want to consider East London if you’re looking for something more affordable.
The city economy may be thriving, and employment rates are steady, but real estate prices will still increase. Compared to the GTA, these are still cheaper.
BLUE MOUNTAIN
The biggest one yet is the booming market of Blue Mountains, with a vacancy rate of 0.6 percent. An estimate of 3,000,000 visitors visits the Blue Mountains per year. If you buy a property here and rent it, you would make a turnover in no time.
That is what makes investing in a real estate agent at Homes at Blue Mountain ideal because our agents possess all the necessary traits to help you successfully enter the real estate market. Contact Christine Smith now at (705) 888-0201 or email her at [email protected] to discuss your real estate needs.