Real Estate

Ottawa Real Estate market discussion

  • Last Updated:
  • Oct 31st, 2020 7:14 pm
Sr. Member
Nov 6, 2007
610 posts
109 upvotes
Hanimal wrote: We went and looked at detached houses in Bridlewood and Kanata lakes. Nice neighborhoods! Any recommendations between the two? I work on Palladium and my partner will have to commute downtown so proximity to 417 is key. Would also like some privacy in the backyard. My understanding is that the schools in Kanata lakes are highly rated (will be sending kids to a French school). Thanks!
I think you've pretty much answered your own question. In addition to being closer to the highway and more prestigious and established schools, generally speaking the lots / yards are also bigger in Kanata Lakes (older builds). There is however a premium in Kanata Lakes vs Bridlewood / Mohan Landing.

However, there are newer builds in Bridlewood and you are really close to huge NCC trails and lands as well as the Trans Canada Trail. Blackstone, Fernbanks and that whole swath of land is developing. So lots of future potential and growth ...

Shopping wise it's about the same.
Jr. Member
Jan 10, 2012
145 posts
38 upvotes
Ottawa
Hanimal wrote: We went and looked at detached houses in Bridlewood and Kanata lakes. Nice neighborhoods! Any recommendations between the two? I work on Palladium and my partner will have to commute downtown so proximity to 417 is key. Would also like some privacy in the backyard. My understanding is that the schools in Kanata lakes are highly rated (will be sending kids to a French school). Thanks!
We have recently purchased a pre-con in Arcadia. The decicing factors for us were:
Being close to Centrum and Tanger mall
Higher ranked schools (for some this may not be a factor)
Quick access to highway (Campeau extension is currently underway)
Cheaper than Kanata lakes
Sr. Member
Aug 3, 2017
544 posts
378 upvotes
splatqa wrote: This shows the number of rentals available in Ottawa west (Kanata, stittsville, bridlewood). As more supplies come online should we be concerned with this picture?
Stats showing trends over time may show that things are good, bad or normal, but the map doesn't tell us much IMO. In a city of a million people, there are always places for sale/rent and people looking to buy/rent, but what we need to see is how demand/availability are balanced. In places like DT Toronto/Vancouver, we're seeing people choosing to leave small condos for the suburbs and rents softening, no idea if that is good or bad for Ottawa's suburbs.
Deal Fanatic
Jul 4, 2004
5641 posts
1706 upvotes
Ottawa
splatqa wrote: This shows the number of rentals available in Ottawa west (Kanata, stittsville, bridlewood). As more supplies come online should we be concerned with this picture?
Honestly, I don't think PadMapper information is particularly reliable anyway. The few times I've looked at it, I think it was pretty much just rental companies with listings that weren't even available anymore (basically they use it for advertising to try to get clients but more often than not, they will try to rent you something else as the one advertised isn't available)
Newbie
Jun 14, 2020
17 posts
4 upvotes
106 Warrior street sold for 90k under asking - brand new house also! Considering people line up for new builds, why do you guys think this went under the radar? They were asking too much? Or because the builder wasn't 100% done the job yet?
Sr. Member
Nov 6, 2007
610 posts
109 upvotes
gohabsgo1 wrote: 106 Warrior street sold for 90k under asking - brand new house also! Considering people line up for new builds, why do you guys think this went under the radar? They were asking too much? Or because the builder wasn't 100% done the job yet?
Listed at $699 on Sept 7th to attract bids

Did not attract enough bids

Relisted at $799 on Sept 11th

Sold at $710 on Sept 16th

Weird listing
Newbie
Sep 29, 2013
56 posts
31 upvotes
michelb wrote: Honestly, I don't think PadMapper information is particularly reliable anyway. The few times I've looked at it, I think it was pretty much just rental companies with listings that weren't even available anymore (basically they use it for advertising to try to get clients but more often than not, they will try to rent you something else as the one advertised isn't available)
Last 2 places I rented for top dollar, my realtor used Facebook Marketplace.
I think with FB, since he is putting his name on the listing and people are on marketplace on with their phones at all hours, it's a decent portal for renters.
Newbie
Sep 29, 2013
56 posts
31 upvotes
R8247 wrote: Listed at $699 on Sept 7th to attract bids

Did not attract enough bids

Relisted at $799 on Sept 11th

Sold at $710 on Sept 16th

Weird listing
Pisses me off that people don't just put the price they want. I got an offer rejected at 475k, he relisted at 499k, then sold for 495k.
These bidding wars really open you up to "overpaying" or "bidding against yourself".
Newbie
Apr 9, 2020
32 posts
31 upvotes
AddictRC wrote: Pisses me off that people don't just put the price they want. I got an offer rejected at 475k, he relisted at 499k, then sold for 495k.
These bidding wars really open you up to "overpaying" or "bidding against yourself".
that is why I feel it is better to buy pre-con at this time
Member
Jul 15, 2019
348 posts
241 upvotes
ZhaoW9051 wrote: that is why I feel it is better to buy pre-con at this time
You hear it time and time again, people fed up after losing multiple bids... that they just go to pre-construction.
Sr. Member
Nov 6, 2007
610 posts
109 upvotes
But some don't really have that choice or want to wait 1-2 years.

We personally thought about it. However, 2 of our close friends had night mare stories with the closing of their pre-con.

Closing delays, driveway wasn't paved for the first 6 month, no sod no usable back yard, shingles and vinyl blowing / falling off (like really on a brand new home?), all compounded by a host of other builder issues.

What really did it for them was they were essentially living in a construction (war) zone for a year + with 2 kids waiting for the rest of the lots to finish. Dust, nails, scraps and heavy equipment everywhere. Can't even walk down your own street with kids and stroller. So taking early delivery and being the one of the first occupants has its drawbacks as well.
Deal Guru
User avatar
Jun 28, 2003
10097 posts
3208 upvotes
Ottawa
Resale properties also have some more advantages: landscaping/fences should be done for the most part. A/C and all windows treatments, lighting fixtures and appliances in place as well.

May not be something you wanted to go with in the first place but hey those could represent substantial savings. Plus, if you are looking to acquire rental properties, resale homes will let you build equity and have cash flow right away vs. waiting for a couple of years for a new build.
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Sr. Member
Nov 6, 2007
610 posts
109 upvotes
canabiz wrote: Resale properties also have some more advantages: landscaping/fences should be done for the most part. A/C and all windows treatments, lighting fixtures and appliances in place as well.

May not be something you wanted to go with in the first place but hey those could represent substantial savings. Plus, if you are looking to acquire rental properties, resale homes will let you build equity and have cash flow right away vs. waiting for a couple of years for a new build.
We calculated we needed at least 30k in cash at closing. This was pretty modest and mediocre too. Not a wish list but essentials to make it a livable house. Nothing super fancy and high end.

Appliances including washer and dryer $10k (really depends how high end you want to go)

Fencing and (modest) deck: $8k

AC (not builder): $4k

Blinds (custom not off the shelf Ikea): $3k

Lighting (to replace cheap builder fixtures): $2k

Misc: $3k

Misc
Newbie
Apr 9, 2020
32 posts
31 upvotes
canabiz wrote: Resale properties also have some more advantages: landscaping/fences should be done for the most part. A/C and all windows treatments, lighting fixtures and appliances in place as well.

May not be something you wanted to go with in the first place but hey those could represent substantial savings. Plus, if you are looking to acquire rental properties, resale homes will let you build equity and have cash flow right away vs. waiting for a couple of years for a new build.

How many are for first home, how many are for upgrade? You last point about building cash flow only applies for first time buyer who properly should buy resale anyway. At this time, if you want to upgrade, obviously you should consider pre con because you are building your enquity anyway and in the meantime enjoy the appreciation.

Also, how many people end up the house / decor they really enjoy? You will be lucky to win bidding for a well maintained house at moment. Too much compromise has to be made
Newbie
Apr 9, 2020
32 posts
31 upvotes
R8247 wrote: We calculated we needed at least 30k in cash at closing. This was pretty modest and mediocre too. Not a wish list but essentials to make it a livable house. Nothing super fancy and high end.

Appliances including washer and dryer $10k (really depends how high end you want to go)

Fencing and (modest) deck: $8k

AC (not builder): $4k

Blinds (custom not off the shelf Ikea): $3k

Lighting (to replace cheap builder fixtures): $2k

Misc: $3k

Misc
At least 15k are not essential:) you can do customerized blind,deck, fence gradually. Plus most new build do not allow fence built with in a year after closing.

The obvious thing is that you do not just realize these costs at the time of closing. You have almost a year to plan and shop these things at considerable discounts.

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