Investing in Barrie – Residential Property Guide
Barrie, ON is consistently being noticed as a “investment opportunity” city with buyers that are flocking to the city to invest in Real Estate. Recently Barrie was ranked only behind Waterloo, Kitchener and Hamilton by the Real Estate investment Network. The “REIN” cites the annexation of Innisfil as a future engine that will drive development in the area.
Many Toronto property investors are buying townhouses and rent to own properties in Barrie, due to its close proximity to Toronto and the affordable prices that make properties attractive to purchasers.
Barrie currently has a population of over 143,000 and has grown 5.7% since 2006. The City takes in over 100 sq km of land and has a large networks of parks, many of which are on the shores of Kempenfelt Bay. Barrie is currently in the process of extending it park land along Lakeshore Drive which hopefully will improve the enjoyment of the water by its citizens. The Barrie waterfront is the City’s greatest asset and attraction, characterized by outstanding natural features, vibrant and diverse public spaces and high-quality recreational facilities. It is a prized and shared resource for recreation, economic development, events and programming on the shores of Kempenfelt Bay.
Currently Barrie’s inventory of homes available for sale is low compared to previous years creating a “sellers market” which has resulted in many properties being sold above their asking price. Some Realtor’s estimate that the average home price in Barrie has already risen over 9% in 2015. Many seniors in Toronto have chosen Barrie as their retirement location, cashing in on a hot real estate market in Toronto and purchasing property in the Barrie and surrounding areas.
Mortgage rates are also part of the reason that Real Estate is experiencing substantial growth. Low rates are allowing people, such as first time home buyers, to invest in their first home at an affordable cost. One thing that has been consistent over the years, the price of Real Estate always goes up, even when there has been dips in housing prices, at the end of the day, they have alway risen. Many people are using Real Estate investment as a hedge against inflation, realizing that just leaving money invested with a bank will eventually see their “nest egg’ decline in value as inflation steadily eats away at its value.
When purchasing an investment property you need the services of a Professional Home Inspector. Roger Frost, the Barrie Home Inspector, has been inspecting homes for over 10 years and is a Certified Building Code Official with the Ontario Building Officials Association. Roger is also a Real Estate investor with both Commercial and Residential investments, which allows you to benefit from his experience and expertise. Free Thermal Imaging scan of your home is also included with every property inspection. The Barrie Home inspector can give you “Peace of Mind” when making your next purchase.