Canada’s housing market has been wild for two years now, and although many are avoiding taking part: investors understand that this is the time to make or break it in the real estate market.
Whether you’re buying a single-family home for your family or you’re interested in building apartment complexes in busy areas: there’s endless opportunity in Ontario. Here’s everything you need to know about this great province.
Ontario may surprise many since it doesn’t offer the mountains of some areas or the gorgeous shorelines the coasts have, but Ontario does have a lot going for it. In the southeast, Ontario is home to the world-famous Niagara Falls, and further south west, Toronto makes Ontario proud as the most diverse city on Earth.
More centrally, there’s Ottawa, the nation’s capital, and endless beautiful and amazing cities and people that will continue to stun and amaze you. These are great locations for a large investment: but these three cities should be your top choices.
The smallest city on this list, Hamilton, has just over 580,000 people. Although it’s known best for its fun shopping and the unique experiences it offers, it’s a great place to go if you want to take a chance on some great real estate. The large amounts of flat and open land mean that there’s endless real estate to work with, and you can work in this market as anything from a flipper to a landlord and still make a living wage.
Most who buy here do it so that they can drive to cities to work; this pushes up the cost of properties, making it competitive with Ottawa in how much you can expect to spend on a property.
Toronto is a surprise and is popular enough that many people immediately assume that it’s the nation’s capital. This city’s real estate market is infamously difficult to get into, but there’s endless opportunity for growth, profit, and extra connections once you do. Real estate in Toronto is exceedingly expensive, ranking this city as the second most expensive in the country, just barely beaten out by Vancouver. If you can get a foot in the door in this market, it’ll make you millions.
The nation’s capital and an amazing city with endless things to offer: it doesn’t surprise anyone when they find out how expensive properties in Ottawa are. Central within the province, Ottawa pulls in a lot of attention as a city with a strong focus on aesthetics. Since the average income here is $20,000 more than the national average, the properties here are pricier. However, they’re still more affordable than the average Toronto home, so this can be a great medium-price range area to break into.
Every Portion of this Province is Booming
Ontario is a fantastic place to live, do business, and raise a family. Although it can be pricey the closer you get to the cities, it’s worth it for everything this great province has to offer those who live here.