Real Estate

Investment property in Welland / Thorold

  • Last Updated:
  • Oct 31st, 2019 12:38 pm
[OP]
Sr. Member
Dec 28, 2010
722 posts
304 upvotes
Toronto

Investment property in Welland / Thorold

Will be traveling with an Agent this weekend to Welland to look at some recently completed semi's and freehold townhouses.
Price is touching 400k range , with good living space but smaller lots. Also, being told that most are already rented to cover the monthly costs (still have to see on paper).
Was more inclined toward Kitchner Waterloo, but was told that its worth a look and Thorold /Welland is an equal opportunity with better newer builds.

Overall, any thoughts about investing in this region? and any preference of area/streets etc.. within this. Looks like prices have already gone up considerably in last 2-3 years .
7 replies
Member
Jun 1, 2019
209 posts
250 upvotes
I'm both an investor and agent in Niagara and know of some great areas. I just worked with a buyer who got a great raised bungalow in the mid 4's, where he can live downstairs and rent upstairs... the rent will carry the property. Your agent should be able to help with area knowledge. There are lots of great buys in Niagara!
Full Service Realtor
Niagara / Hamilton-Burlington
[OP]
Sr. Member
Dec 28, 2010
722 posts
304 upvotes
Toronto
Yes, I was looking for such property as well as there are good bungalows, detached ones..in that range....so not sure why the Agent is so excited about the semi/townhouse..
Also, I feel Welland is very far and I guess most jobs are tourism based around the area, not sure about major growth as it's being there for a while. But who knows, if numbers are right and newer built, then carrying on long-term should be ok.
For 400K , there are also older but bigger lots much closer to Toronto...
Well hopefully will be worth a drive.
Member
Jul 2, 2018
264 posts
258 upvotes
People in my network are investing in the area, none of them are looking at the newer build towns/semis. The numbers work much better on detached bungalows with secondary suites.
Realtor + Investor
Member
Jun 1, 2019
209 posts
250 upvotes
RealtorInvestor wrote: People in my network are investing in the area, none of them are looking at the newer build towns/semis. The numbers work much better on detached bungalows with secondary suites.
Agreed.
Full Service Realtor
Niagara / Hamilton-Burlington
[OP]
Sr. Member
Dec 28, 2010
722 posts
304 upvotes
Toronto
Checked a few. Liked one - was asking close to 500k with 1750sqft living and finished basement.
But, then agent mentioned, there was a mistake in listing and its not a freehold but has >$250/month fees.
It actually looked like a semi-detach in pictures and in person as well...only about 15-20 house on the row were alike. Not sure if these townhouse with such fees cover anything or is a side business run by builder or people linked to them.
Overall was not much impressed. Recent rental were going for $1800 in the area.
Member
Jun 1, 2019
209 posts
250 upvotes
I feel there are much better buys to be had in Thorold than townhouses.
Full Service Realtor
Niagara / Hamilton-Burlington
[OP]
Sr. Member
Dec 28, 2010
722 posts
304 upvotes
Toronto
Actually, went ahead with Brantford and made an offer for a recent built townhouse - already rented. The new townhouses of same sizes are being price 40-50k higher.
Really liked the downtown and drive was pretty good even in rain - coming from Vaughan and reached in 1hr12mins.
Welland seemed very far. Was looking into Grimsby as well, but came out of budget.

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