house
Picture of Ghummaz Bhatti

Ghummaz Bhatti

Millennial Home Buying Guide: Why Ottawa Is Perfect for You

Adulthood can be a very exciting yet overwhelming phase in your life, especially if you are still building your career as a millennial. Earning enough to cover your basic needs while paying off student loans is a difficult step to reach, and it may involve tightening the belt in some areas. Due to financial constraints and the current housing market, some young adults may prefer to rent rather than buy a home for themselves.

Buying a home is a huge undertaking that will require you to remodel your entire financial plan. But did you know that buying a new home is not entirely impossible as a young adult or a first-time home buyer in Ottawa?

If you are looking for a perfect home for every young professional and first-time home buyer, you are sure to find it in Ottawa. Read on for the top three reasons why Ottawa is the best place to live for young adults:

1. Affordable Real Estate

As a young adult just starting to save and invest, you might be looking for affordable real estate options in Canada. When it comes to real estate prices, Ottawa is undoubtedly an excellent choice. Compared to the market prices of starter homes in Vancouver and Toronto, rates in Ottawa are much friendlier to individuals or couples with median incomes.

If you look at the market prices across the big cities in Canada, the Ottawa real estate market is arguably the most accessible. The average real estate value of townhouses, condos, and similar properties is almost half of that everywhere else!

2. Quality of Life

In general, Canada is known for being a great place to enjoy the best quality of life. But among the cities with continuous economic growth, cultural diversity, and low crime rates, Ottawa is on top of the list. Transportation, job opportunities, and healthcare facilities are well prioritised. These advantages and more make a living in Ottawa a wise and sound decision for you and your future family.

If you plan to move out of your parents’ house and live independently, Ottawa is one of the most desirable cities you can call home. Aside from the affordable housing options, the main factors that propel Ottawa to the top of the list include a high safety index, economic security, and accessible health services.

3. Permanent Home

Buying property in Ottawa is a valuable investment if you want to expand your portfolio. Given the continuous growth and development in the city, you can expect a massive return in a few years if you eventually want to rent or sell. 

But if your main goal is to find a permanent home, then Ottawa is the right place. Whether you are starting your own family or intending to live independently, there’s no place better than this beautiful and peaceful yet bustling city.

Final Thoughts

Are you looking to buy your very first home? Ottawa is a great place to build a new life. Its beauty, peace, affordability, and quality of life are very difficult to say no to. You can begin hunting for beautiful homes, get them assessed, and consult with mortgage experts today.

If you want to jumpstart your millennial home buying journey, contact us at Ottawa Mortgage Services today. Our expert team offers mortgage services and home equity loans in Ottawa for first-time buyers, employed individuals, and commercial clients. Apply now and get a head start!

Contact Ottawa Mortgage Services to learn more

funding@ottawamortgageservices.ca

Like & Share on Instagram & Facebook

@ottawamortgageservices

Get Started, sign up and fill out the application: Click Here

Share this post

Related Articles

houses

Updates on Canada’s First Time Home Buyer Incentive (2021)

Canada’s First Time Home Buyer Incentive (FTHBI) provides funding assistance and a down-payment assistance loan to middle-class homebuyers who have no experience availing their own property before. The program reduces monthly payments by decreasing the interest rate and extending the length of the mortgage. This allows first-time buyers to own

Read More
mortgage

What You Should Know Before Applying For Mortgage

Rites of passage play an essential role in the lives of individuals and cultures. They help to mark the transition from one stage to another and signify the individual’s new status and responsibilities. In many cultures, there are specific rites of passage for each stage of life, from birth to

Read More
Short-Term Fixed-Rate Mortgages

Understanding Short-Term Fixed-Rate Mortgages for Homebuyers

Purchasing a house is one of the most important financial decisions an individual can make. For most people, it is the largest investment they will ever make. As a result, it is important to choose the right mortgage. A short-term fixed-rate mortgage is a popular option for many homeowners. This

Read More
Shopping Basket