Why You Should Live & Invest In Oakville
Oakville is not only ranked as the best overall place to live in Canada, but it’s also ranked the best place for New Canadians, the third best place to retire and the fifth-best place to raise a family. Incomes in the city are already among the highest in Canada, unemployment is below the provincial average, and these trends are expected to continue for the foreseeable future.
With the average home price in Oakville increasing steadily year over year, buying a home in Oakville is a great investment. Property value here is also increasing each year as homebuyers are looking to get out of the bustling city of Toronto and create a home in a smaller community with a complete list of amenities and just a short commute into the city, whether by car or GO Train.
With housing market history showing a 5% price appreciation over the last year, 50% over 5 years and a whopping 125% appreciation over 10 years, investing in a home in Oakville is obviously a great long-term investment.
The Oakville Pre-Construction condo market has been one of the strongest in 2020 with numerous projects selling out throughout the entire year and new projects being launched here in Q4 2020. Buying a pre-construction condo like the upcoming Nuvo Condos & Butler Condos, whether as an investment property to rent out or to live in yourself, Oakville is a great choice when considering the cost of the units in these developments. The average house price in Oakville is so much higher than surrounding areas it forces many first time buyers or renters to move away from Oakville where they grew up. With all the new condo development happening in uptown and downtown Oakville this will provide affordable housing for First Time Buyers and at the same time allowing investors to invest in their backyard and provide an affordable rental within the city of Oakville. As the calendar turns at the beginning of the year, stay tuned for another much-anticipated condo launch as the Distrikt 2.0 Condo development, whose sales will start in Q1 of 2021.
The benefits of buying in the pre-construction phase of development will allow you to make decisions about your floor plan selection, unit location, parking spots and even get some early-purchasing incentives, including the lowest possible pricing for the project. All of these benefits ultimately factor into your purchase price and investment potential. Simply put, having the foresight to buy early is how to get the most out of your purchase.
Oakville is as nice as it gets in southern Ontario: a strong market on the cusp of even greater things, Oakville is one of the best places in the province to live & invest. If Oakville is a place you would like to call home, there are many more opportunities than just the condo developments happening around the Hospital and Lake Ontario. There are many other developments happening all around Oakville, that aren’t condo developments, these projects offer towns, semi’s and detached homes that will allow you to purchase a home to move up into, whether it’s a preconstruction, a newly built home, a custom build or a resale house on the market, the CRESI Team of RE/MAX has the connections to get you what you want.