Real Estate

Ottawa and Surrounding Area Real Estate market discussion

  • Last Updated:
  • Mar 1st, 2021 11:05 pm
Deal Addict
Dec 4, 2016
1872 posts
892 upvotes
michelb wrote: 53 Wimbledon sold for $456k
318 Statewood sold for $447k
Thank you. Looks like 450k is the going price for older freehold towns in Kanata North. Hopefully condos appreciate a bit so the gap would narrow somewhat.
Member
Feb 7, 2018
289 posts
365 upvotes
Possible pot shop in Barrhaven as per CBC. What do people think about the effect of this on real estate there? If something like this was scheduled to open up in my neighbourhood I’d be listing tomorrow.
Deal Fanatic
Jul 4, 2004
5961 posts
2054 upvotes
Ottawa
wiab89 wrote: Possible pot shop in Barrhaven as per CBC. What do people think about the effect of this on real estate there? If something like this was scheduled to open up in my neighbourhood I’d be listing tomorrow.
IMHO, it's about the same as having a Beer Store or LCBO although to be fair, there have been some reports of poor behavior near some of the existing stores.
Member
Jul 25, 2008
400 posts
274 upvotes
ottawa
michelb wrote: IMHO, it's about the same as having a Beer Store or LCBO although to be fair, there have been some reports of poor behavior near some of the existing stores.
the problems with the urban stores have mostly revolved around vehicular traffic and parking, likely indicating they were being caused by non-local patrons.
building out the extra-urban retail cannabis network will both solve the problems in at the stores in the city and, because they are at supercentre locations, prevent them from reoccurring.

i'd tend to agree from a real-estate point of view there is no difference between an LCBO/Beer store and a cannabis store. Heck, Beer Stores are probably the worst on that list as they attract indigents who collect empties for cash. The Barrhaven beer store near fallowfield routinely has suspect characters around dropping off empties.
Sr. Member
Mar 9, 2014
660 posts
664 upvotes
Ottawa
bonzo99911 wrote: Hi all,

I am currently planning to purchase a detached house in Ottawa. The house is very old (80 plus years) and has been rented to students over the past few years, so it is not in the best condition.

I am wondering if any of you could tell me how much I should expect to pay for each of the following renovation projects:

1. A complete makeover of the bathroom. There is only one full bathroom in the house and it is quite old and dated. I would like to replace the sink, bowl, bathtub and all other fixtures and make the place look modern. The bathroom is about 4 ft by 5 ft in size.

2. Refinishing all hardwood floors. The entire house (about 1,300 sq ft) is covered with ancient hardwood floors, and it squeaks and creaks in certain places. I was told that the floors are thick enough to be refinished, but the surface looks heavily damaged with deep scratches.

3. Installing interlock pavement. The small backyard (about 15ft by 10ft) is practically a jungle at the moment. I am planning to remove all vegetation and cover the entire area with interlock pavement.

4. Installing of a prefab all-in-one bathroom in the basement. The basement is currently half finished and has a two-piece bathroom. I want to install a prefab all-in-one bathroom in there for any overnight guests.

Any information would be appreciated!

Thanks
I recently got hardwood flooring refinished for $2.5 per square feet, but this depends a lot on the condition of the floor. The guy spent a lot of time replacing individual pieces of wood that were bad and other imperfections, more time than just sanding and staining.

Refinishing flooring will not fix squeaking. Squeaking might be fixed from the basement if that part is unfinished, otherwise you'd have to put special screws in from above, and seal the hole using wood filler.

Replacing everything in the bathroom probably will run you $7000+ depending on the material you choose.

I'm not sure what's pre-fab all-in-one bathroom. There are pre-fab individual components that you can buy and install quickly, but I've not seen pre-fab entire bathroom in Ottawa.

If you have a good Realtor, he/she should be able to tell you more upon seeing the house. Feel free to message me if you don't have a Realtor.
Member
Jul 11, 2009
282 posts
77 upvotes
Hey there. A house in the area I am looking at for my aunt just had a SOLD sign pop up today. There was no sign there yesterday? It is not listed on mls that we can find. How does this work? We are also curious if anyone her knows what it sold for? The address is 4 Conacher Gate, Kanata.

Thanks
Deal Addict
May 23, 2017
1241 posts
1114 upvotes
chipspew wrote: Hey there. A house in the area I am looking at for my aunt just had a SOLD sign pop up today. There was no sign there yesterday? It is not listed on mls that we can find. How does this work? We are also curious if anyone her knows what it sold for? The address is 4 Conacher Gate, Kanata.

Thanks
Not sure if this is what happened in this case, but one possibility is that it might have been sold before the listing was scheduled to be put up on MLS. I've purchased a house this way in the past--the seller's realtor belonged to the same agency as my realtor, so my agent let us know a house was coming on the market that fit the criteria we were looking for. We were able to go in to see the house, get a house inspection done, put in an offer, and get the offer accepted before the listing went up on MLS and the "for sale" sign went up. (So it would be just like in your case where the "SOLD" sign gets put up immediately.)

Since I'm not a realtor I don't have access to sales data, however my realtor told us that because the house never ended up getting listed on MLS, no one else would actually be able to see what it sold for. If this is what happened, I believe the only way you can find out the sold price is months down the road once MPAC updates their numbers. If you own a house, you can login to "aboutmyproperty.ca" and look up sale prices for houses, however it doesn't get updated very often (maybe only once or twice a year?) so you'll have to be patient. Otherwise, since the sold sign probably lists the realtor, you can try contacting them directly to ask for info...but I don't know if they will reveal anything.
Jr. Member
Feb 13, 2018
166 posts
72 upvotes
Hey,anyone can help me to find any details about 81 baneberry crescent ottawa,sold value ,conditions etc
Deal Addict
Nov 13, 2013
2416 posts
1192 upvotes
Ottawa
danishh wrote: the problems with the urban stores have mostly revolved around vehicular traffic and parking, likely indicating they were being caused by non-local patrons.
building out the extra-urban retail cannabis network will both solve the problems in at the stores in the city and, because they are at supercentre locations, prevent them from reoccurring.

i'd tend to agree from a real-estate point of view there is no difference between an LCBO/Beer store and a cannabis store. Heck, Beer Stores are probably the worst on that list as they attract indigents who collect empties for cash. The Barrhaven beer store near fallowfield routinely has suspect characters around dropping off empties.
Agree and when it was semi legal it attracted a less desirable crowd. The one on Bank street looks to have improved that block if anything.
Deal Guru
Oct 30, 2006
14823 posts
4303 upvotes
Meha68 wrote: Hey,anyone can help me to find any details about 81 baneberry crescent ottawa,sold value ,conditions etc
michelb is doing us a huge favour by posting sold prices but let's not litter the thread with requests like these and abuse their generosity.
TripleQ wrote:I read Click magazine for the articles!
Deal Fanatic
User avatar
Dec 27, 2009
7166 posts
4351 upvotes
Victoria, BC
wiab89 wrote: Possible pot shop in Barrhaven as per CBC. What do people think about the effect of this on real estate there? If something like this was scheduled to open up in my neighbourhood I’d be listing tomorrow.
Why? Who gives a shit? A little pot never hurt anybody. You sound silly.
Newbie
Sep 27, 2018
35 posts
46 upvotes
A friend has agreed to sell her place privately before even listing it. Word of mouth type of thing.
If anyone here can recommend a lawyer to close the deal, kindly PM me.
Sr. Member
Mar 9, 2014
660 posts
664 upvotes
Ottawa
chipspew wrote: Hey there. A house in the area I am looking at for my aunt just had a SOLD sign pop up today. There was no sign there yesterday? It is not listed on mls that we can find. How does this work? We are also curious if anyone her knows what it sold for? The address is 4 Conacher Gate, Kanata.

Thanks
4 Conacher Gate was sold without going through MLS. The Realtor just placed the sign there to advertise himself/herself.
Sr. Member
Mar 9, 2014
660 posts
664 upvotes
Ottawa
Meha68 wrote: Hey,anyone can help me to find any details about 81 baneberry crescent ottawa,sold value ,conditions etc
I will PM you the details.
Sr. Member
Apr 5, 2017
598 posts
132 upvotes
Is Ottawa a good place for investment properties ? Like rentals...
Sr. Member
Aug 6, 2011
592 posts
264 upvotes
MK1986 wrote: Is Ottawa a good place for investment properties ? Like rentals...
I'd say yes but it depends what you're looking for. Different investors have different style of investment. Myself, I'm more a buy and hold long term guy and I'm pretty happy with it. I like properties in strategic locations inside the Greenbelt. Most properties don't cashflow like crazy at purchase, maybe slighly cashflow positive at best in decent neighborhood. But high cashflow is possible if you improve it, rent by rooms or choose less desirable neighborhoods. I'm currently looking for a tenant for a vacant unit and responses from my ads are beyond my expectation, despite big increase in asking rent. Rentals demand is very high.
Sr. Member
Apr 5, 2017
598 posts
132 upvotes
cyberfreak123 wrote: I'd say yes but it depends what you're looking for. Different investors have different style of investment. Myself, I'm more a buy and hold long term guy and I'm pretty happy with it. I like properties in strategic locations inside the Greenbelt. Most properties don't cashflow like crazy at purchase, maybe slighly cashflow positive at best in decent neighborhood. But high cashflow is possible if you improve it, rent by rooms or choose less desirable neighborhoods. I'm currently looking for a tenant for a vacant unit and responses from my ads are beyond my expectation, despite big increase in asking rent. Rentals demand is very high.
What's the average price there for a 3 or 4 bedroom in decent neighborhoods ? Which areas are the best if I'm planing to hold the property for long term and rented it out as you do ?
Sr. Member
Aug 6, 2011
592 posts
264 upvotes
MK1986 wrote: What's the average price there for a 3 or 4 bedroom in decent neighborhoods ? Which areas are the best if I'm planing to hold the property for long term and rented it out as you do ?
I like detached bungalow in mature neighborhoods with good transit. I'd say 450K or cheaper if you can find it, but it'll likely require some work. But you can find semis for cheaper. I convert the basement into a legal basement unit. When the units looks modern and clean, I have no problem attracting decent tenants. But you can find already built basement unit as well. If you buy right, it's good cashflow. As which neighborhood, I like convenient access to universities (Ottawa U or Carleton U), colleges (Algonquin), close to hospitals ,close to the LRT.
I like multifamilies for their strong and stable income but they're crazy expensive, unless you go to Gatineau...
Deal Fanatic
Jul 4, 2004
5961 posts
2054 upvotes
Ottawa
cyberfreak123 wrote: I'd say yes but it depends what you're looking for. Different investors have different style of investment. Myself, I'm more a buy and hold long term guy and I'm pretty happy with it. I like properties in strategic locations inside the Greenbelt. Most properties don't cashflow like crazy at purchase, maybe slighly cashflow positive at best in decent neighborhood. But high cashflow is possible if you improve it, rent by rooms or choose less desirable neighborhoods. I'm currently looking for a tenant for a vacant unit and responses from my ads are beyond my expectation, despite big increase in asking rent. Rentals demand is very high.
Honestly, I kind of disagree that Ottawa rentals are that good for investors. Although there's a very strong demand for rentals in the city and rental prices have gone up quite a bit, given the real estate prices, I don't think there's huge profits to be made. There is profit to be made but I suspect factoring the opportunity cost (i.e. whatever you have in the rental property you could invest elsewhere and get decent returns) and the work involved in having rentals, personally I think you can probably do better than buying rentals. I do agree that you can make more money with cheaper / less desirable properties.

FWIW, I own 2 rental apartments (actually 3 but 1 is rented to my in-laws at a low rent so I don't really count that one) and both are cash positive but we bought both when prices were quite a bit lower. We've owned 1 for about 18 years, over that time, it's appreciated maybe 50% and until a few years ago, we simply had it in the rental pool and it was cash negative. The second we bought about 3 years ago as a "handyman special" so the price was quite low and it has appreciated quite a bit in the last few years. We were renting both on AirBnb which was quite profitable (although certainly more work) but the condo board has since banned short term rentals so we had to stop that. We still do well with the rentals because we rent fully furnished, all-included for 6 months and I think we've managed to find a niche market (I think we rent for at least 50% more than the rental pool rents but we do have more costs).

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