Best cities in Canada to buy house at the moment

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May 8th, 2017 1:05 pm

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Feb 19th, 2017 6:11 am

mawzi [OP]: Deal Addict; Jan 3, 2007; 1164 posts; 626 upvotes; Toronto

Feb 19th, 2017 6:11 am

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

Feb 19th, 2017 8:05 am

rkjredflag: Deal Addict; Aug 10, 2015; 2044 posts; 913 upvotes; Elgin, ON

Feb 19th, 2017 8:05 am

Niagara Falls is appreciating nicely.

+2

Feb 19th, 2017 11:19 am

Clueless Fox: Deal Addict; Nov 22, 2004; 1615 posts; 744 upvotes; GTA

Feb 19th, 2017 11:19 am

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.

CPA. Investor. Realtor @ Royal LePage Ignite Realty

+1

Feb 19th, 2017 1:19 pm

mattdominic: Sr. Member; Feb 16, 2017; 583 posts; 247 upvotes

Feb 19th, 2017 1:19 pm

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.

+3

Feb 19th, 2017 1:29 pm

Clueless Fox: Deal Addict; Nov 22, 2004; 1615 posts; 744 upvotes; GTA

Feb 19th, 2017 1:29 pm

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.

CPA. Investor. Realtor @ Royal LePage Ignite Realty

+1

Feb 19th, 2017 3:12 pm

Sanyo: Deal Guru; Feb 9, 2009; 12376 posts; 11296 upvotes

Feb 19th, 2017 3:12 pm

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...

Feb 19th, 2017 3:21 pm

jamesw99: Member; Nov 20, 2015; 276 posts; 196 upvotes; Toronto, ON

Feb 19th, 2017 3:21 pm

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.

+2

Feb 19th, 2017 6:59 pm

M-_-C: Deal Addict; Nov 29, 2007; 1306 posts; 366 upvotes

Feb 19th, 2017 6:59 pm

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

+1

Feb 19th, 2017 8:58 pm

jonkoktosen: Member; May 18, 2015; 484 posts; 686 upvotes; Thornhill, ON

Feb 19th, 2017 8:58 pm

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.

+1

Feb 19th, 2017 9:07 pm

Evil Baby: Deal Expert; Mar 18, 2005; 23576 posts; 5042 upvotes; Niagara Falls

Feb 19th, 2017 9:07 pm

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.

+2

Feb 20th, 2017 9:09 am

old sparks: Deal Addict; Feb 18, 2010; 1099 posts; 623 upvotes; Greely

Feb 20th, 2017 9:09 am

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...

+2

Feb 20th, 2017 9:53 am

chadw01: Deal Fanatic; Mar 28, 2006; 5676 posts; 5387 upvotes; Toronto

Feb 20th, 2017 9:53 am

Peterborough

+1

Feb 20th, 2017 6:13 pm

Sanyo: Deal Guru; Feb 9, 2009; 12376 posts; 11296 upvotes

Feb 20th, 2017 6:13 pm

At this rate in the next year it may be Thunder bay... sad.

Feb 21st, 2017 12:07 pm

alanbrenton: Deal Expert; Apr 21, 2004; 58021 posts; 23740 upvotes

Feb 21st, 2017 12:07 pm

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

Feb 21st, 2017 12:37 pm

Chickinvic: Deal Fanatic; Dec 27, 2009; 7913 posts; 5458 upvotes; Victoria, BC

Feb 21st, 2017 12:37 pm

In all of Canada (based on subject line) nobody can think of a good place that isn't in the Toronto area? lol

+1

Feb 21st, 2017 10:43 pm

Eaglesfan99: Sr. Member; Jan 30, 2017; 728 posts; 118 upvotes

Feb 21st, 2017 10:43 pm

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

Feb 21st, 2017 11:23 pm

Cheapo-Findo: Deal Expert; Mar 9, 2007; 15496 posts; 13009 upvotes; Think of the Childre…

Feb 21st, 2017 11:23 pm

Sudbury is the place to be.

WOULD SOMEBODY THINK OF THE CHILDREN!!!

+1

Feb 22nd, 2017 12:49 am

mawzi [OP]: Deal Addict; Jan 3, 2007; 1164 posts; 626 upvotes; Toronto

Feb 22nd, 2017 12:49 am

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.

Feb 22nd, 2017 9:21 am

StarScream1337: Member; Dec 2, 2014; 458 posts; 186 upvotes; London, ON

Feb 22nd, 2017 9:21 am

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.

Feb 22nd, 2017 9:34 am

snow00774: Deal Addict; Dec 21, 2011; 3487 posts; 679 upvotes; Allenford

Feb 22nd, 2017 9:34 am

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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