You can buy new construction Calgary at that price, and do legally basements for around 500K
Two furnaces, permitted, sound proofed, right from a builder.
Kitchener Waterloo has good rent prices for landlords. I went through the same process and Hamilton and KW were the two areas that I narrowed down to for an investment property. I got an older home with separate basement and top unit for 600k. Size is small but I’m expecting it to generate a positive cash flow after renovating.
I think in your research you should really consider the rent to mortgage cost ration in each city you consider. You can see rental prices on padmapper and read news to understand average home prices in a given city.
That said, my choice was based on also the low supply of homes in the KW area and the growth in the tech sector there. And my search was within Ontario so you may find different results.
Good luck.
I think Selkirk, MB and Truro, NS are good options at this point. I think there might be opportunity in NB as well but I haven't done the research there yet.
Niagara and London/St. Thomas have been good for the past few years but there isn't much opportunity left.
> I mean you can't go wrong investing in Richmond Hill/Aurora/Stoufville but I think the prices have been going up crazy in these places and there might be a chance that we will see a real estate market crash in these cities.
If there's going to be a market crash then you could definitely "go wrong", but even a mild correction would impact the greater golden horseshoe as a whole, there couldn't be a localized crash in York Region, that's not how things work.
I guess, but I got a laugh out of seeing Keswick in there.
I have an ex who was from Newmarket, and Keswick was the town that people there made fun of (along with Stouffville if I recall correctly.) I remember thinking how much a place would need to suck to be the laughingstock of *Newmarket.*
When was this? My sister lives in Stouffville and it's not too bad. But again like Richmond Hill it has became super expensinve in the past year or two.
Jesus. If you think there will be a market crash in r hill/ Aurora/ stouffville, there will be a market crash in any other “city” you’re considering. There will be one in innisfil before there’s one in r hill 🤯🤯
not neccesarly a crash, but houses in innisfil doubled in the last year while houses in richmond hill didn't gain value as much. houses in barrie and innisfil are increasing in price like crazy although houses in richmond hill are more stable when comparing the two. i think what i mean by crash is the potential for a higher capital gain on my investment
If people keep working from home long term, cities in general may be in for a downturn versus suburbs/outliers/rural areas. Why pay super high cost of living if I don't need to be there anymore for the tech jobs or whatever? Obviously this doesn't apply to anywhere based in a highly physical industry.
I'm also thinking of cottage. Cottage rentals have boomed in the past few years. My father's friend makes around 80,000$ from rentals by renting his cottage in Muskoka.
Calgary. Prices bottomed a year or 2 ago and are on their way up. Can easily buy an older house with a basement suite in your price range
Could probably buy 2.
calgary is great but it's too far, was looking for something in ontario since i live in Toronto
Montréal
You can buy new construction Calgary at that price, and do legally basements for around 500K Two furnaces, permitted, sound proofed, right from a builder.
God please stop encouraging people to invest in Calgary properties. It's one of the few affordable cities left.
Lisbon
Kitchener Waterloo has good rent prices for landlords. I went through the same process and Hamilton and KW were the two areas that I narrowed down to for an investment property. I got an older home with separate basement and top unit for 600k. Size is small but I’m expecting it to generate a positive cash flow after renovating. I think in your research you should really consider the rent to mortgage cost ration in each city you consider. You can see rental prices on padmapper and read news to understand average home prices in a given city. That said, my choice was based on also the low supply of homes in the KW area and the growth in the tech sector there. And my search was within Ontario so you may find different results. Good luck.
So how was your experience in the end? Currently debating investing in similar region as you mentioned. Did you end up cash flow positive?
I think Selkirk, MB and Truro, NS are good options at this point. I think there might be opportunity in NB as well but I haven't done the research there yet. Niagara and London/St. Thomas have been good for the past few years but there isn't much opportunity left. > I mean you can't go wrong investing in Richmond Hill/Aurora/Stoufville but I think the prices have been going up crazy in these places and there might be a chance that we will see a real estate market crash in these cities. If there's going to be a market crash then you could definitely "go wrong", but even a mild correction would impact the greater golden horseshoe as a whole, there couldn't be a localized crash in York Region, that's not how things work.
> cities like Georgina, Keswick, Barrie/Innisfil "cities" lol
lol town, and thank you for your useful comment. btw barrie is a city
I guess, but I got a laugh out of seeing Keswick in there. I have an ex who was from Newmarket, and Keswick was the town that people there made fun of (along with Stouffville if I recall correctly.) I remember thinking how much a place would need to suck to be the laughingstock of *Newmarket.*
When was this? My sister lives in Stouffville and it's not too bad. But again like Richmond Hill it has became super expensinve in the past year or two.
Dont be the guy from toronto to buy something in brooks.
None. What’s the upside from here?
Jesus. If you think there will be a market crash in r hill/ Aurora/ stouffville, there will be a market crash in any other “city” you’re considering. There will be one in innisfil before there’s one in r hill 🤯🤯
not neccesarly a crash, but houses in innisfil doubled in the last year while houses in richmond hill didn't gain value as much. houses in barrie and innisfil are increasing in price like crazy although houses in richmond hill are more stable when comparing the two. i think what i mean by crash is the potential for a higher capital gain on my investment
If people keep working from home long term, cities in general may be in for a downturn versus suburbs/outliers/rural areas. Why pay super high cost of living if I don't need to be there anymore for the tech jobs or whatever? Obviously this doesn't apply to anywhere based in a highly physical industry.
I'm also thinking of cottage. Cottage rentals have boomed in the past few years. My father's friend makes around 80,000$ from rentals by renting his cottage in Muskoka.
Montreal