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  • Nov 10th, 2013 12:09 pm
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[OP]
Deal Addict
Nov 1, 2009
2640 posts
77 upvotes

Up and coming areas

Hey guys. Not really too well versed in real estate. But, where are some "up and coming" areas in the GTA (liberally speaking) that will probably be popular in another 10-15 years?

i.e. if someone wants to invest in a condo for the long term, what areas would you look that's cheap now, but may get pricier?
12 replies
Deal Addict
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Nov 17, 2004
2313 posts
642 upvotes
The Wilson rd area close to yorkdale should be worth more in the near future. They're reconstructing a lot of the plazas and building low rise condos and townhouse around there now, so it's getting gentrified.

May not be a bad place to think about.
Deal Addict
Oct 14, 2004
1392 posts
365 upvotes
Toronto
Eye8Pussies wrote:
Oct 27th, 2013 11:00 pm
The Wilson rd area close to yorkdale should be worth more in the near future. They're reconstructing a lot of the plazas and building low rise condos and townhouse around there now, so it's getting gentrified.

May not be a bad place to think about.
A teardown is about $700-750k in that area. People always talk about Mimico, near Yorkdale, and I personally believe the Guildwood area will also be much more popular in 10-15 years.
[OP]
Deal Addict
Nov 1, 2009
2640 posts
77 upvotes
What about the area north of Richmond Hill? I am thinking around the 300K price range for a 1+den condo. I want a area that's within 20 minutes from Richmond Hill, but has room for "significant" growth in the next 15 years or so. Finding tenants is a non-issue as we have extended family coming and going all the time - sort of can act as a pad (importantly, away from our place) while they are here.
Deal Fanatic
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Apr 4, 2009
7688 posts
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North York
Phoenix3434 wrote:
Oct 27th, 2013 9:31 pm
Hey guys. Not really too well versed in real estate. But, where are some "up and coming" areas in the GTA (liberally speaking) that will probably be popular in another 10-15 years?

i.e. if someone wants to invest in a condo for the long term, what areas would you look that's cheap now, but may get pricier?
Long term investing + condo are tricky.

When condo prices are at their peak, they don't really appreciate much beyond that price (after 10 - 20 years) ... at least not like a new condo.. (At least that was observed in the previous RE cycle.)

I guess, people don't find older units that attractive anymore. (ie. Where as a new unit may sell for $600/sq ft., noone is going to pay that for a 20 year old condo.)

Similarly, I'd say a 20 year old unit would NOT be able to command the same rent as a newly built unit. (And maintenance tends to be higher in older units as more stuf needs to be repaired/replaced.)

On the other hand, land in established areas keep going up with the market. So OP needs to be clear with investing objective.

Picking up a condo at pre-construction phase at the bottom of RE market (or in a quickly rising market) is killer profit, as you are only in for 10% and during the 3 year consturction period, it is continuing to appreciate and you have no expenses.

Just keep in mind in Canada (maybe not Vancouver, some locations in Toronto), they can put up a condo close to to ANY great condo location in 20 years time ... lots of land (or old buildings to be taken down). So there is not the same scarcity factor with condos as there is with houses/real property.
Sr. Member
Nov 28, 2010
979 posts
166 upvotes
Toronto
Busybuyer888 wrote:
Oct 29th, 2013 11:22 am
you are only in for 10%
I think those days are long gone and most (if not all) builders these days request 15% within 3 months and the remaining 5% on closing.
Deal Fanatic
May 1, 2012
8638 posts
6280 upvotes
Markham
You want to know a big area that is up and coming? Try West Side / Central Markham, anywhere west of McCown + anywhere in Richmond Hill near Yonge, Bathrust, and closer to Bayview.

So many big projects going up around Markham, it's difficult to say it won't be a big metropolitan area in 5 or 10 years time.
1) GTA Arena at Kennedy / 407 (Markham)
2) Expansion of the 407 further east (Durham)
3) King's Crossing? or Landing... Huge Asian Mall at 16th and Woodbine (Markham)
4) Viva Rapidways along highway 7
5) Extreme condo development in NEW downtown Markham (Highway 7 / Warden)

etc etc I can go on and on but just drive around central Markham and you'll see the huge infrastructure buildup. You do not see this kind of development anywhere else in the GTA. In no time, Markham will be linked with Stouffville and you're just going to see a huge area of houses
Jr. Member
Feb 2, 2011
164 posts
14 upvotes
maybe pickering mall area as pickering has been ignored and the only place left near the toronto core without a boom in prices. Also going east, ajax saw a boom...therefore logically speaking...pickering is sandwiched with new construction and its a matter of time till it sees its days
Newbie
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Aug 24, 2009
61 posts
9 upvotes
I am moving to Ajax shortly. I heard they will develop a downtown area and the airport that will be built in Pickering will help bring more business to the area. I really like the town
Jr. Member
Feb 2, 2011
164 posts
14 upvotes
i guess it becomes a debate between North, West or East
Deal Addict
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Jun 14, 2012
1717 posts
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Malvern is really cleaning up and becoming more expensive.
Jr. Member
Feb 2, 2011
164 posts
14 upvotes
i doubt malvern near the mall will ever increase

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