Both locals and foreign investors are interested in properties in the Great White North since Canada has one of the world’s hottest real estate markets. Indeed, it is the nation of opportunity, whether you’re seeking for a place to call home or want to make a lot of money on an investment property. That said, there are lucrative real estate investment options in a lot of places, big and small.
The Top Places to Invest in Real Estate
Ready to purchase a home? Consider some of the undiscovered beauties outside of Toronto and Vancouver now. The finest Canadian real estate investment locations are listed below.
1. Calgary, AB
Calgary, Canada’s fourth-largest city, offers all the benefits of urban living for a fraction of the price of major cities like Toronto and Vancouver. Since it is in the centre of the prairies, it also offers all the conveniences that come with living next to the Rocky Mountains. Less than 90 minutes separate you from a ski vacation or a beautiful trek in Banff.
Calgary is one of the few large cities in Canada where a dollar still buys a lot of square footage. One of the least expensive urban areas in the nation, it has a population of over 1.4 million and an average property price of under $500,000.
2. Halifax, NS
A mid-sized Canadian city, Halifax has around 500,000 residents. It is a major fishing and transportation hub and the provincial capital of Nova Scotia.
As a matter of fact, if you like fishing, sailing, windsurfing, paddleboarding, or other outdoor activities, Nova Scotia is one of Canada’s most picturesque regions.
Halifax combines the conveniences of a big Canadian city with the small-town charm of a seaside community. It’s one of the least expensive places in the nation to buy a house, but it still has a lot of room for a price increase.
3. Hamilton, ON
Although Hamilton has typically been thought of as a faraway suburb of Toronto, it is now emerging as one of the most popular areas in the province. More individuals are selecting it as a place to live and work rather than just commuting from Toronto, thanks to its 812,528 residents, robust job market, and bustling restaurant and retail scenes. In addition to being the world’s waterfall capital, Hamilton has a ton of hiking and biking routes for locals to enjoy the great outdoors.
Many people opt for Hamilton to stay close to the big city, living on a budget since housing costs are still more than 1/3 lower than in Toronto. The city is expanding rapidly and is an excellent spot to settle down and launch a family or a business. If you do start to miss the Toronto skyline, you can drive there in just over an hour.
4. Kelowna, BC
One of Canada’s most picturesque cities, Kelowna is a favourite travel destination. On the eastern side of Okanagan Lake, it is tucked away in the interior of British Columbia. It gives off the Californian vibe in the Great White North because of the mild climate and palm trees. Despite having 143,000 residents, the city receives approximately 2 million visitors annually.
It is also the ideal destination for a vacation, retirement, or starting a family. In all of Canada, this may be your greatest option if you’re seeking for a home for your own use or as an investment to list on Airbnb.
5. Ottawa, ON
Over a million people call Ottawa, the country’s capital, home. The city is not only lovely and has a fascinating past, but it is also accessible by foot, reasonably priced, and great for families. It is a city with a robust economy, high wages, outdoor markets, museums, and lots of parks.
Ottawa is unrivalled if you love history or just want a beautiful setting to raise a family.
Despite its size, location, and significance, it continues to be one of Canada’s most inexpensive cities. You can live in Ontario without paying the high cost of living in Toronto as long as housing costs are still below average in Canada.
If you’re looking to invest in real estate in Canada, some of the best places to consider are Calgary, Halifax, Hamilton, Kelowna, and Ottawa. These cities offer a variety of opportunities for investors, whether you’re looking for income potential, appreciation potential, or a combination of the two.
Of course, as with any investment, risks are always involved, so be sure to do your research and consult a professional before making any decisions.
If you are looking for a reliable company that provides mortgage services in Ottawa, look no further than our expertise here at Ottawa Mortgage Services. We offer mortgage agent services for first-time home buyers, self-employed individuals, and commercial clients. We also help with refinancing, pre-approvals, and debt consolidation. Call us today, and let us discuss all your viable mortgage options.