Real Estate

Best cities in Canada to buy house at the moment

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  • May 8th, 2017 1:05 pm
[OP]
Deal Addict
Jan 3, 2007
1135 posts
567 upvotes
Toronto

Best cities in Canada to buy house at the moment

Hi, I want to invest in a condo or a house to rent. I live in Toronto, but don't want to buy here because I think the market is a little crazy at the moment.

Any city in Canada that has a more reasonable healthy increase in value year over year?

I prefer in Ontario, just to make things a little easier for me.
55 replies
Deal Addict
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Aug 10, 2015
1766 posts
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Elgin, ON
Niagara Falls is appreciating nicely.
Deal Addict
Nov 22, 2004
1511 posts
599 upvotes
If you want to buy a condo, I'd suggest remaining in the GTA. If you want a "land-based" property then yeah, best bet is to look outside - Hamilton, Kitchener-Waterloo-Cambridge, Niagara, etc.

Condos are becoming increasingly attractive now and appreciating more after stagnating for many years. I recall reading that BMO predicts a 19% appreciation in condo values in 2017, however they also said that we're "bubbling".

Also, do you want pre-construction or are you okay with resale as well? It's harder to find reasonably priced pre-construction properties (except condos in some areas) as builders have been capitalizing on the crazy demand.
Realtor @ Royal LePage Ignite Realty
Sr. Member
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Feb 16, 2017
535 posts
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I Live in London and seeing people from GTA area are coming here and literally raping the real estate market as the prices are so attractive here and london city is developing super fast ..one of reasons people avoided london in the past is because its near to the snowbelt but due to global warming things are changing and we are not seeing much snow here as it was in the past

If you compare prices with kitchener,waterloo u will see atleast 100k difference in the price ..its just 1 hr drive from waterloo to here and i have lot of friends at my workplace who drive to london daily for work even from Milton.

Niagara i have no idea.
Deal Addict
Nov 22, 2004
1511 posts
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mattdominic wrote: I Live in London and seeing people from GTA area are coming here and literally raping the real estate market as the prices are so attractive here and london city is developing super fast ..one of reasons people avoided london in the past is because its near to the snowbelt but due to global warming things are changing and we are not seeing much snow here as it was in the past

If you compare prices with kitchener,waterloo u will see atleast 100k difference in the price ..its just 1 hr drive from waterloo to here and i have lot of friends at my workplace who drive to london daily for work even from Milton.

Niagara i have no idea.
+1 to the price differential. I'm not sure if the prices have started to increase a lot already though as it is still 2.5~3 hours from GTA but I wouldn't be surprised.
Realtor @ Royal LePage Ignite Realty
Deal Guru
Feb 9, 2009
11161 posts
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mattdominic wrote: I Live in London and seeing people from GTA area are coming here and literally raping the real estate market as the prices are so attractive here and london city is developing super fast ..one of reasons people avoided london in the past is because its near to the snowbelt but due to global warming things are changing and we are not seeing much snow here as it was in the past

If you compare prices with kitchener,waterloo u will see atleast 100k difference in the price ..its just 1 hr drive from waterloo to here and i have lot of friends at my workplace who drive to london daily for work even from Milton.

Niagara i have no idea.
Milton wow thats a tough commute, especially in the winter...
Member
Nov 20, 2015
209 posts
139 upvotes
Toronto, ON
Clueless Fox wrote: If you want to buy a condo, I'd suggest remaining in the GTA. If you want a "land-based" property then yeah, best bet is to look outside - Hamilton, Kitchener-Waterloo-Cambridge, Niagara, etc.

Condos are becoming increasingly attractive now and appreciating more after stagnating for many years. I recall reading that BMO predicts a 19% appreciation in condo values in 2017, however they also said that we're "bubbling".

Also, do you want pre-construction or are you okay with resale as well? It's harder to find reasonably priced pre-construction properties (except condos in some areas) as builders have been capitalizing on the crazy demand.
I agree, if you are looking for a condo stick with the GTA. Hamilton and any area in between (Burlington, Oakville, Milton, Mississauga) are already just as crazy as Toronto in regards to demand and the bidding wars.

Cambridge, Guelph, K-W, London are all in demand areas, which are good investments.

East of Toronto (Pickering, Ajax, Whitby, Oshawa) are just as crazy as Toronto.
Deal Addict
Nov 29, 2007
1268 posts
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Hamilton has appreciated very nicely for me I live in Stoney creek. We just had a house on our street about 2 weeks ago listed for $599,999 sold in less then 3 days for $704,000 and that was for a 3 bedroom detached I moved here 2 years ago and lost 3 houses in bidding wars I can't imagine what it would be like today. You would be hard pressed to find any deals now
Member
May 18, 2015
484 posts
682 upvotes
Thornhill, ON
Take a look here:

http://wpmedia.windsorstar.com/2015/06/ ... -2015).pdf

But be careful, because that report is from 2015, and many of the cities on that list (like Oshawa) have since skyrocketed in price (no longer produce the same cap rates) and could get hammered in a correction. Having said that, I don't think Windsor has gone bonkers yet, so it might be worth a serious look.
Deal Expert
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Mar 18, 2005
21395 posts
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Niagara Falls
mattdominic wrote: I Live in London and seeing people from GTA area are coming here and literally raping the real estate market as the prices are so attractive here and london city is developing super fast ..one of reasons people avoided london in the past is because its near to the snowbelt but due to global warming things are changing and we are not seeing much snow here as it was in the past

If you compare prices with kitchener,waterloo u will see atleast 100k difference in the price ..its just 1 hr drive from waterloo to here and i have lot of friends at my workplace who drive to london daily for work even from Milton.

Niagara i have no idea.
Niagara is the same. Started last year, maybe a bit the year before. It's pretty insane how much housing has appreciated in just one year. I'm hoping for another really strong year as a I still have to sell my old house I rented out to my mom for a year.
Sr. Member
Feb 18, 2010
899 posts
368 upvotes
Greely
mattdominic wrote: I Live in London and seeing people from GTA area are coming here and literally raping the real estate market as the prices are so attractive here and london city is developing super fast ..one of reasons people avoided london in the past is because its near to the snowbelt but due to global warming things are changing and we are not seeing much snow here as it was in the past
Other than Western University, I find London a bit grim when I go to visit family still living there and Windsor even more so. SW Ontario is a great place to have a hobby farm, though.

Lots of smaller towns along Lake Ontario right up to Belleville that are still reasonably priced, if you want to be near the lake, or Peterborough if you want be closer to cottage country...
Deal Guru
Feb 9, 2009
11161 posts
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At this rate in the next year it may be Thunder bay... sad.
Deal Expert
User avatar
Apr 21, 2004
54640 posts
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For rental, how much can tenants complain? I understand they can call the landlord to change the light bulbs and appliances when broken or when there's a plumbing issue. Anything else that they can complain about?

These maintenance fees can make risky business for landlords.

Condo Q&A: My monthly maintenance fees keep skyrocketing — when will it stop?
http://news.nationalpost.com/homes/cond ... ll-it-stop
Deal Fanatic
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Dec 27, 2009
7300 posts
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Victoria, BC
In all of Canada (based on subject line) nobody can think of a good place that isn't in the Toronto area? lol
Sr. Member
Jan 30, 2017
551 posts
87 upvotes
Chickinvic wrote: In all of Canada (based on subject line) nobody can think of a good place that isn't in the Toronto area? lol
What do people think of Windsor area? For about 200k to 250k you can get a 5 bedroom student rental room right by uni of Windsor.. it's pretty old house but still..
I guess the thing is who's gonna collect the rent.. to far of a drive from Toronto
Deal Guru
User avatar
Mar 9, 2007
13898 posts
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Think of the Childre…
Sudbury is the place to be.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
[OP]
Deal Addict
Jan 3, 2007
1135 posts
567 upvotes
Toronto
Thanks for all the input. Now where can I look at historical real estate charts for a particular city or small town.

I can only find charts for the big cities.
Member
Dec 2, 2014
445 posts
173 upvotes
London, ON
mattdominic wrote: I Live in London and seeing people from GTA area are coming here and literally raping the real estate market as the prices are so attractive here and london city is developing super fast ..one of reasons people avoided london in the past is because its near to the snowbelt but due to global warming things are changing and we are not seeing much snow here as it was in the past

If you compare prices with kitchener,waterloo u will see atleast 100k difference in the price ..its just 1 hr drive from waterloo to here and i have lot of friends at my workplace who drive to london daily for work even from Milton.

Niagara i have no idea.
I'm also in London and, in the past few months, I've had several offers blown out of the water against bidders going 10% - 20% over-asking without conditions. I'm not going to pass on a home inspection with a toddler and a soon-to-be pregnant wife so it really sucks.
Deal Addict
Dec 21, 2011
3425 posts
637 upvotes
London
StarScream1337 wrote: I'm also in London and, in the past few months, I've had several offers blown out of the water against bidders going 10% - 20% over-asking without conditions. I'm not going to pass on a home inspection with a toddler and a soon-to-be pregnant wife so it really sucks.
In December a guy I work with was overbid consistently 15-20% on several homes until he and his wife found a steal coming on the market and they went in high no conditions. It's madness, I don't remember this ever happening so consistently here.

Good luck to you and your family, hopefully you get something soon.

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