The Ontario real estate market is competitive, and the costs are high. This often intimidates people into looking elsewhere to buy or invest, but the competitiveness and high prices are precisely what makes Ontario an excellent place to invest. The key is getting into the market as soon as possible, so you can benefit from the increasing property values. Once you get started, building equity you can leverage is a breeze.
What You’ll Love About Ontario Real Estate
When it comes to real estate, “location, location, location” is the mantra. Ontario certainly fits the bill as one of the best places to call home or create homes in Canada. It is home to Toronto, which ranks as one of the most livable cities in the world, year after year. Here are some of the top reasons people move to Ontario.
1. Job Opportunities
Most people move to Canada to find work, and they tend to find it in Ontario. This province serves as Canada’s central hub for tech, science, and finance. It also has strong arts and cultural communities. Not surprisingly, Ontario continually attracts professionals from around the world. The unemployment rate in Ontario is only 6.4%, which is about standard for post-2020 Canada.
2. High Income
The standard of living in Ontario is high, and the jobs pay accordingly. People living in Ontario earn a median after-tax income of $71,700. This ranks Ontario in the provinces with the highest incomes in Canada. That’s great news for ambitious individuals and young families who are in the process of climbing the career ladder and building wealth.
3. Good Equity
As property values continue to rise in Ontario, your own property will build equity quickly, even if you only make the scheduled mortgage payments. Should you decide to resell the property later, you can make a good profit. You could also tap into the equity to purchase a second investment property or expand your home to create income-generating spaces.
4. Population Size
Ontario is Canada’s most densely populated province and the most common province immigrants first move to. This is excellent news for real estate investors looking to capitalize on the renters’ market. It also provides great opportunities for developing or renovating properties for sale to professionals.
Whether you choose the countryside, suburbs, or city, you can count on beautiful scenery in Ontario. It features stunning landscapes, brightly lit cities, and breath-taking views of waterscapes. There are also countless opportunities to escape into nature and enjoy the wildlife and forests.
Say goodbye to boredom in Ontario. This province provides a wide range of activities for outdoorsy adventurers and urban lovers alike. Art galleries, restaurants, museums, shops, clubs, hiking trails and forests are some of the many attractions in Ontario. This is one of the few places in the world where you can enjoy the snow for six months per year and warm beaches for the remaining six.
Why Investors and Real Estate Agents Love Ontario Real Estate
Ontario might be a great place to call home, but do investors earn high returns? Investors with the budget to invest in fast-paced and high-income areas will find no shortage of opportunities in Ontario. However, even investors of more modest means can grow a strong portfolio at a moderate pace. Consequently, investors now account for 25% of homebuyers in the area.
1. Supply and Demand
The sheer size and population of Ontario create a lot of room for growth for investors. Toronto and other bustling cities in the region also provide opportunities for upward mobility, which often compels people to sell and purchase new homes throughout their careers. This provides excellent opportunities for real estate agents and for investors to get their feet in the market.
2. High Returns
To illustrate how profitable the real estate market has become, one journalist compared it to some of the biggest stocks in North America. Using Bancroft as a benchmark, Ontario real estate beat the likes of Amazon, Shopify and Suncor in growth.
3. Easy Sell
Some locations require investors and agents to sell the location as much as the properties they list. Ontario sells itself. There are so many potential experiences and opportunities that investors and agents only need to focus their resources on talking up the advantages of the exact property they have in mind. This can save a lot of time and marketing dollars.
4. Lower Risk
All investments carry a certain level of risk, but the Ontario real estate market has consistently proven to be a solid choice. The market maintains consistent growth, and properties can almost always generate revenue when in good condition. This makes real estate an excellent choice for investors who fear losing their hard-earned money in riskier investment opportunities.
How To Find Your Ontario Neighbourhood
When looking at Ontario real estate, the neighbourhood matters. This is as important for owner-occupied homebuyers as it is for multi-property investors. Your neighbourhood quality can be determined by the following factors:
- The quality of grade schools and the proximity to good colleges
- The availability of public transportation or the necessity of private transportation
- The proximity of important services, such as grocery stores, pharmacies, or hospitals
- The overall safety for children and property
- The demographics of the community, such as religion, age, or ethnicity
- The level of noise or other disruptions affecting your property, such as when you’re located close to a train station or landfill
At www.findyourneighbourhood.com (‘FYN’), we make it easy for families moving into Ontario homes to find the right neighbourhoods. Use our online platform to narrow down your neighbourhood choices by the quality of daycare, schools, healthcare, transit score, and many more.
It all starts with selecting basic filters. You can then choose lifestyle preferences so that your home fits perfectly into your current or planned lifestyle choices. Next, review the top neighbourhoods that meet your needs. Finally, we match you with experienced real estate agents who specialize in those neighbourhoods and are eager to help you find the home of your dreams. You can choose an agent based on their respective value proposition from within the platform.
Are you ready to get started with FYN? It’s absolutely zero cost to get started, just create a free account, filter through thousands of Ontario neighbourhoods, find a neighbourhood that matches your lifestyle preferences and hop onto the journey of buying your dream home!!