Real Estate

Buy New Investment Property - Oshawa North or Bomanville?

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  • Jun 21st, 2016 3:45 pm
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[OP]
Deal Addict
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Feb 24, 2007
3373 posts
984 upvotes
Toronto

Buy New Investment Property - Oshawa North or Bomanville?

Looking to buy a brand new unbuilt investment property that may be ready in 1.5-2 years and can cash in on some increase..

Wondering if anyone can recommend best option for Oshawa and/or Bomanville as they seem to be the 2 hottest areas in the east..

Any recommendations of projects or builders etc. to look at?

Oshawa just got 407 opened up..should extend to Bomanville eventually..

Bomanville also just got approved for a GO station down the road..

Thoughts?
5 replies
Member
Dec 13, 2008
211 posts
26 upvotes
a little bit late on oshawa north,

bowmanville might be a good buy still
Deal Fanatic
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Sep 8, 2007
9018 posts
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Way Out of GTA
I think you are touching on what is becoming a very crowded trade and more specifically that much of the demand for housing in Durham is made up of a combo of 1) actual homebuyers 2) flippers for new construction 3) investment properties.

I don't blame people looking for investment returns outside of the stock market. TSX been flat to down for years. US stocks stalled two years ago at the end of QE. Bond and GIC yields in the pits. So people are jumping on the asset that has been going up.

As the trade gets crowded you need to consider what the potential demand for rental of SFH, semis and townhomes is actually going to be when these new developments get built. There's going to be a wall of rental supply. Once you go above $1300 in rent, the demand starts to fall off in Durham. As such going up to $2000 in rent for a SFH isn't a very good return for investment purposes. Quality duplexes are hard to come by. You've gotta keep hoping the price goes up (which it might).

Yes we are in the Nortel era for housing.
Sr. Member
Jan 31, 2016
654 posts
301 upvotes
Kawartha Lakes
Tad late I think. Even Newcastle is par with Bowmanville for the most part. New 1480sq detached homes in Newcastle sold for over 400k. Plus a 20k lot premium to back onto train tracks! Some premiums were a bit wider for 30 to 60k backing onto the tracks. Sold out very fast and that was a couple months ago.

In my opinion, the are has nothing to do but grow. Newcastle is the next Bowmanville in my opinion, especailly with all the new infastructure invesments in the area.

Look at Newtonville. :)
[OP]
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Feb 24, 2007
3373 posts
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Toronto
Sorry when I meant investment..I meant buy a new build.. wait till ready..and flip... (not investment as in rent out)

Where would you say has more value in Bomanville... North (407) or South (Go Train) ?
Member
Jul 31, 2007
304 posts
11 upvotes
Scarborough
wmahmud wrote: Sorry when I meant investment..I meant buy a new build.. wait till ready..and flip... (not investment as in rent out)

Where would you say has more value in Bomanville... North (407) or South (Go Train) ?
'

North Oshawa price is gone up lot pass this year. Have you been to the tribute office.

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