Real Estate

Ottawa and Surrounding Area Real Estate market discussion

  • Last Updated:
  • Jan 17th, 2021 11:47 am
[OP]
Deal Addict
Nov 26, 2004
2709 posts
929 upvotes
Tadalafil wrote: LOL, did they manage to sell more lots at that price?
Barrhaven townhomes are becoming a meme stock like the tech stocks now, and cannabis stocks couple of years back. Someone should figure out how to list them on Nasdaq.
It is like parents hitting up every Walmart, BestBuy, Staples, etc this weekend trying to find a Chromebook. Except people are hitting Mattamy's, Minto's Richcraft's, etc sales centre to buy a Town home. :facepalm:
Member
Jul 15, 2019
384 posts
266 upvotes
freeman93 wrote: I drove by the longwood build site in rockland last weekend, and there was nothing there 2-3months ago. I see a few that are already owner occupied, dang they are quick when they have to be.
In other news 6 homes from the Coleman central area have been registered with tarion, which would mean approval of permits I believe.

Idk if anyone was still waiting on that info or not.

https://www.tarion.com/ontariobuilderdi ... ella/11962
Member
May 23, 2007
463 posts
176 upvotes
Wild Wild West / Ott…
Now that is ot only crazy but scary.

AddictRC wrote: I went there last night and they secretly released 3 more blocks.
Cheapest town was 598K.
Most expensive was ~689K.
Deal Addict
Jul 7, 2007
1137 posts
718 upvotes
Tadalafil wrote: LOL, did they manage to sell more lots at that price?
Barrhaven townhomes are becoming a meme stock like the tech stocks now, and cannabis stocks couple of years back. Someone should figure out how to list them on Nasdaq.
Well, I’ve been taking profits from my 10x leveraged T$LA calls and now I am able to add multiple precon Barrhaven townhomes to my growing portfolio. Treat these precons like calls, only have to pay the down payment for now. What can go wrong guys? Right, RIGHT?

Brb gonna create r/OttawaREBets
Last edited by Zero Hope on Sep 15th, 2020 12:57 pm, edited 1 time in total.
Jr. Member
Sep 29, 2013
176 posts
95 upvotes
William W wrote: It is like parents hitting up every Walmart, BestBuy, Staples, etc this weekend trying to find a Chromebook. Except people are hitting Mattamy's, Minto's Richcraft's, etc sales centre to buy a Town home. :facepalm:
I saw a few red dots in the new release. I think this is gonna be close to the new "Barrhaven Downtown" or whatever. I'll keep my eye on Mattamy "Promenade".
Member
Jan 29, 2020
397 posts
388 upvotes
Zero Hope wrote: Well, I’ve been taking profits from my 10x leveraged T$LA calls and now I am able to add multiple precon Barrhaven townhomes to my growing portfolio. Treat these precons like calls, only have to pay the down payment for now. What can go wrong guys? Right, RIGHT?

Brb gonna create r/OttawaREBets
It is all about the TQQQ now. Triple leverage - this is the way. More risk, more reward.

In Ottawa, we don't need to take such bets because real estate here can never go down, it's a kind of natural law.
Newbie
Sep 13, 2020
14 posts
2 upvotes
Hi Guys, investor newbie question please. For multiple properties is it required to have 20% down for non-primary residences?
Jr. Member
Sep 29, 2013
176 posts
95 upvotes
Zero Hope wrote: Well, I’ve been taking profits from my 10x leveraged T$LA calls and now I am able to add multiple precon Barrhaven townhomes to my growing portfolio. Treat these precons like calls, only have to pay the down payment for now. What can go wrong guys? Right, RIGHT?

Brb gonna create r/OttawaREBets
Are you serious? You got balls if you are.
If you are treating these as flips:
1. You have to hold them for 1 year or risk losing the HST rebate.
2. You will probably have to pay ~25% capital gains
3. You have to eat the land transfer + legal fees
Newbie
Sep 13, 2020
14 posts
2 upvotes
Thanks, any recommended additional resources on getting started with multiple homes or good brokers/accountants specializing in this area?

Related to claridge, closing in 2022. Perhaps that far out is related to crazy prices.
Jr. Member
Sep 29, 2013
176 posts
95 upvotes
I have a few rentals in Barrhaven just because I do my own property mgmt and don't wanna drive far just to show tenants how to program a thermostat. I bought 2 more this year and am looking for more before the prices get too high. I haven't read too much of this thread past the last 5 pages but if others are interested as well, you can ask in the thread and I can answer the best I can. I also do my own taxes so I'm pretty in tune with all the tax implications.
Jr. Member
Mar 1, 2016
186 posts
109 upvotes
AddictRC wrote: I have a few rentals in Barrhaven just because I do my own property mgmt and don't wanna drive far just to show tenants how to program a thermostat. I bought 2 more this year and am looking for more before the prices get too high. I haven't read too much of this thread past the last 5 pages but if others are interested as well, you can ask in the thread and I can answer the best I can. I also do my own taxes so I'm pretty in tune with all the tax implications.
Based on your experience, is it still possible to be cash flow positive on a property in your target area or are you expecting further price appreciation to drive your ROI? Thanks
Jr. Member
Sep 29, 2013
176 posts
95 upvotes
BigDurian wrote: Based on your experience, is it still possible to be cash flow positive on a property in your target area or are you expecting further price appreciation to drive your ROI? Thanks
Its possible to be neutral even with 100% financing. I use a HELOC to cover the 20% down payment even though banks dont like that. You have to have that 20% in savings or stocks to get approved for a mortgage now though.

I.e. A 470k town @1.95% over 30 years rented at ~2100 can break even.
You can obviously not finance 100% of it and leave some of your own money in there but then you will lose the ability to write off the interest for income tax.

As the mortgage goes down, you can refinance it and pull that money out tax free to supplement your retirement income. Or you can sell it when it appreciates and pay capital gains. My goal was to use the ROI to help my kids buy a house without putting much of my own time and money into it.
Jr. Member
Jul 1, 2015
118 posts
49 upvotes
ON
AddictRC wrote: I went there last night and they secretly released 3 more blocks.
Cheapest town was 598K.
Most expensive was ~689K.
How does this even remotely make sense. RC and HN homes largest TH are going for 600K.
Member
Jan 10, 2012
217 posts
64 upvotes
Ottawa
Does anyone know how I can find the development application documents for previous releases of an area? I can see the current ones on the city website but I cannot find the archives.
Jr. Member
Sep 29, 2013
176 posts
95 upvotes
nycetryguy wrote: How does this even remotely make sense. RC and HN homes largest TH are going for 600K.
Those prices on Richcraft's website were actually for Findlay's Creek even though you click on Riverside South. I gave the sales rep grief for it as they are old sold out at Riverside South. I was interested in the 4 bedroom 2-car garage model for ~560k. Similar model from Claridge (Carlton) is 698,900 at Watter's Pointe with a limited time promotion of free A/C Face With Tears Of Joy
Deal Guru
User avatar
Jun 28, 2003
10206 posts
3290 upvotes
Ottawa
Caivan will be releasing new lots for singles at their Fox Run (Richmond Village) community this Saturday. First come and first served but up to $30K off on certain models.

Not sure how well they have been selling here, I know they started to market and sell this community at least a year or so ago, if not longer.
[removed]
Newbie
Sep 23, 2014
76 posts
51 upvotes
Ottawa, ON
I'm in the market to buy a home and was wondering if there's a way to look up the original builder of a home if it's not readily mentioned in the listing. Is this information publicly available through the city? Currently looking in Bridlewood/Glen Cairn and Kanata lakes.
Deal Fanatic
Jul 4, 2004
5846 posts
1902 upvotes
Ottawa
Hanimal wrote: I'm in the market to buy a home and was wondering if there's a way to look up the original builder of a home if it's not readily mentioned in the listing. Is this information publicly available through the city? Currently looking in Bridlewood/Glen Cairn and Kanata lakes.
You can Google it but typically that information belongs to the builder and if it's not on their website, it might not exist anywhere else.

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