Buy New Investment Property - Oshawa North or Bomanville?

a little bit late on oshawa north,

bowmanville might be a good buy still

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.

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.

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) ?

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) ?

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