"Location, location, location!" said Harold Samuel, owner of one of the United Kingdom's largest property companies.
While your goal may be to find the cutest little two-bedroom bungalow or an ultra-chic downtown condo, the location is often more important than the property itself.
Schools, crime, commute times, transportation options, and community will drive your costs now and your return on investment later. When you are looking to invest in real estate rather than purchase a family home, the location is even more important.
Let's take a look at five of the best neighbourhoods to buy an investment property in Ottawa. This list is in no particular order as each has something different to offer:
The Glebe
Average home price: $997,407 (2020)
The prices in this neighbourhood went up by 11.3% between 2019 and 2020. The neighbourhood boasts great schools and is only 10 miles from Ottawa, making it a great area for young families. Unfortunately, the price makes it difficult for many to afford.
Hintonburg
Average house price: $729,254.
Average condo price: $463,536 (2020)
Hintonburg is a strong market with some options for lower prices. It's a great walking neighbourhood with a lot to offer in the way of arts and culture. A rental property in this neighbourhood would be a great investment.
Westboro
Average home price: $775,168 (2020)
Westboro (or Westboro Village) is a small residential area that has a big reputation. It is considered one of the more trendy areas in Ottawa with a busy nightlife and equally popular daytime outdoor activities. This is an excellent area for singles or couples without kids.
ByWard Market
Average home price: $517,260 (2020)
"The area is bursting with so many unique boutiques, coffee shops, restaurants and bars that you'll need to make return trips to Ottawa's oldest, most-concentrated neighbourhood!" (Ottawa Tourism)
Kanata
Average House Price: $691,354 (2021)
Average Condo Price: $401,540 (2021)
https://ottawatourism.ca/en/about-ottawa/neighbourhoods/kanata-central
With good schools, community centres, and plenty of green spaces, Kanata is a great place to raise children. If you are looking for a rental investment, Kanata is a safe bet. (Ottawa Tourism)
Ottawa is an excellent choice for an investment property with many more neighbourhoods that are good choices. The prices are not as low as suburban options, but the return on that investment is excellent, with an average increase of 10% or more over the last 12 months. If you can afford to get in, you will make your money back without a doubt. And if you can't afford it, there are always options to go in as a silent investor. We can help with that option! Book a free consultation with our investment experts below: