As real estate investors, we're always looking for the next big opportunity.
As anyone who invested in Toronto property back in the early 2000s knows, getting in on the ground floor is how you make big money in real estate. While purchase prices and rent are at a high in downtown Toronto, there are tons of additional real estate opportunities across the province of Ontario.
For example, in 2019, Moneysense magazine reported that 7 of the top 10 cities to buy real estate were located in Ontario. By putting your money into property in these towns and cities, you can increase your investment smartly and sustainably!
Ottawa
Despite being the capital of Canada, Ottawa often plays second fiddle to Toronto. But when it comes to real estate, that second fiddle is hard to beat!
As compared to Toronto, housing prices are rising at a slower pace, with a 5-year annual ROI of 2% and an average 5-year rent increase of 11.17%. The stability is primarily because it's a government town. That said, things are steadily moving up, making it a fantastic place to look if you want a longer-term investment in real estate. Not only that, but Ottawa also borders Gatineau, QB, making it an excellent location for those looking to immerse themselves in both English and French-Canadian culture.
St. Catharines - Niagara
When it comes to romance, it's hard to beat Niagara. But there is so much more going on there than just honeymoons. The real estate market, for example, is just as exciting as the falls themselves!
Many consider the St. Catharines - Niagara region of Ontario to be one of the most desirable places for real estate investors in the province. Not only does it show a 5-year annual ROI of 8%, but it also has an average 5-year rent increase of 13.84%. Despite these impressive numbers, real estate in the areas is still very affordable, offering great value to investors.
Hamilton
Hamilton is not the first place that many real estate investors would think of when looking for a deal. But they should take a second look, because Hamilton is definitely on the rise!
As the average price for homes in Hamilton is much lower than in Toronto and most of the GTA, there are incredible deals to be had. Families are moving to Hamilton to get out of Toronto, attracted by affordable housing, a thriving cultural community, and top colleges like McMaster University. Hamilton is also connected to downtown Toronto by the GO Train, making it a quick journey to get anywhere in the GTA. With a 5-year annual ROI of 8% and an average 5-year rent increase of 25.58%, Hamilton should be on any real estate investor's list of places to look!
Windsor
We love a good comeback story, and Windsor has one of the best.
After the economic crisis in 2008, many considered Windsor to be the worst real estate market in Canada. Due to its location across from Detroit, the city strongly felt the fallout of the auto sector crash. The vacancy rate back then was an abysmal 15%!
Fast forward to today, and things couldn't be more different. A combination of investments by the city and purchases by savvy real estate investors have pushed Windsor to one of the most desirable markets in Canada. With a vacancy rate of just under 3%, an average 5-year rent increase of 11.14%, and a 5-year annual ROI of 11%, Windsor is definitely a place you want to look when investing in real estate!
Thunder Bay
But let's say that you're looking for real estate investment opportunities far from Toronto and other urban centers. If so, you're going to want to look in Thunder Bay!
A fourteen-hour drive away from Toronto, Thunder Bay has seen a rise in fortunes over the last few years. While home and property prices aren't on the same level as in the GTA or southwest Ontario, they have been steadily increasing. Add to that a 5-year annual ROI of 1% and an average 5-year rent increase of 12.78%, and you could be looking at a solid long-term investment!
Getting a start in real estate investment can seem a bit intimidating at first. It takes skill and experience to make real money when looking for desirable properties and assets. We've helped our partners learn everything they need to know about the real estate market, guiding them to build wealth and show an impressive ROI!
Contact Regalway Homes today, and we can start talking about the best places to invest in real estate in Ontario!