Best places to invest in real estate in Ontario 2021
Planning to invest in real estate in Ontario in 2021? Read this article to find out about some of the best places to do so.
As a Canadian, starting a venture in real estate is one of the best ways to put your hard-earned savings to good use. However, naturally, some places are more investment-worthy than others. In recent years, increased real estate demand due to population growth has rendered Ontario one of the country’s leading real estate markets. For this reason, we are going to talk about the best places to invest in real estate in Ontario in 2021.
The Canadian real estate market is known for low-interest rates in the real estate sector. This has made investing in real estate in Ontario a particularly attractive business venture for many people. However, sometimes inexperience leads people to base their home purchasing decisions on property characteristics such as square footage or whether the home underwent a bathroom renovation.
In contrast, when selling a house in the future, your property value will depend largely on where it is located rather than property-specific features. Therefore, take a look at our favorite places to invest in real estate in Ontario this year.
Hamilton is one of the best cities in Ontario in terms of rental opportunities. It has seen massive economic growth in recent years. As a result, many people are moving to Hamilton in search of work.
Hamilton is famous for being a family-friendly place. It has excellent schools, low crime rates, and a welcoming local community. It is also close to Toronto. This makes Hamilton a great place for commuters who want to live in a smaller city.
All of these reasons make rentals a highly sought-after commodity in Hamilton. Some real estate agencies even report having as many as 70 inquiries for new residential properties in Hamilton! This kind of competition makes investing in real estate in Ontario in 2021 one of the most lucrative financial decisions you can make. In fact, securing a Hamilton property by paying rent several months in advance has become increasingly common.
Renting in St. Catharines is a great way to attain an additional source of income in 2021. It is one of the most affordable cities to purchase property in the Golden Horseshoe area of Ontario.
St. Catharines is located in the Niagara Peninsula, about 20 km from the US border and 50 km from Toronto. As a result, many people are moving to this place due to good commute times and lower rental fees.
Additionally, moving locally for work has become quite customary and easy because St. Catharines has experts that can help with relocation. And besides excellent local movers you can hire, this lovely city is one of the best university centers in Ontario - Brock University.
Another thing that places St. Catharines on the map of best places to invest in real estate in Ontario is a developed cultural scene that attracts both tourists and new residents. This city has been announced as the host of the 2022 Canada Summer Games. St. Catherines is also famous for Niagara Falls and Fruit District.
Welland has emerged on the Ontario real estate market relatively recently. Located in the Niagara Region, phenomenal nature is one of its distinctive hallmarks. Furthermore, you are just a half an hour drive away from Niagara Falls as a Welland resident.
What makes Welland particularly conducive for investing in real estate are the local building regulations. They allow homeowners to build accessory dwelling units on their property. This means you can build not one but as many as three rental units.
As a result, Welland has garnered a reputation as a city with plenty of emerging rental opportunities, giving rise to an increasing number of people moving to this city in Ontario. If you plan to buy, rent or lease a Welland property, know that established moving companies such as number1movers.ca can provide you with quality local and long-distance moving and packing services.
In the past, the city of Peterborough was not well-connected to the rest of the Golden Horseshoe area in Ontario. However, its growth potential had increased when the local government expanded the 407 route. This pathway has connected Peterborough to Toronto, attracting commuters who cannot afford or stand living in a big city.
This is just one of the reasons why it makes sense to invest in Peterborough real estate in 2021. Peterborough is an attractive location to invest in real estate in Ontario because it has good educational institutions - Trent University and Fleming College.
Barrie is also one of the best places to invest in real estate in Ontario in 2021
Barrie is a lovely city located on Lake Simcoe, populated by around 140.000 people. What makes investing in real estate in this city favorable is its connection to Toronto. Namely, due to GO Transit, people are relocating to Barrie since it enables them to enjoy the benefits of living in a small-town community. The proximity to all amenities and job opportunities found in Toronto is a plus as well.
Furthermore, Lake Simcoe has become a popular weekend destination, which has given rise to an increased inflow of visitors and, thus, rental opportunities. In light of the projected population growth, economic growth makes owning property in Barrie a viable investment plan in 2021.
Brantford is another city in Ontario that has attracted the attention of real estate investors. Positioned southwest of Hamilton, this smaller city primarily attracts families. It allows greater opportunities for acquiring or renting houses with spacious yards and family-friendly communal areas. This situation has boosted Brantford’s economy in the form of many family-run businesses. However, several international companies have established their premises in Brantford as well.
All of these changes have contributed to above-average population growth. This is again in tight connection with the expansion of the city’s boundaries, making Brantford one of the best places to invest in real estate in Ontario in 2021.