Meta description: Ottawa is proving to be one of the best places for real estate. If you have no idea why you should give this city a shot, read this.
Are you checking real estate listings in Ottawa? As Canada’s capital city, it’s a very viable place for anyone to live in. But if you’re not entirely convinced that you should spend your hard earned money on a property here, this brief guide might be able to help you out.
Ottawa is ranked by MoneySense as the 2nd best place to live in Canada in 2018.
MoneySense is a personal finance and lifestyle magazine that studies and ranks the different cities in Canada and ranks them according to their livability. They use various criteria, data, and information to create their ranking. This makes them a pretty reliable source of information for a lot of folks who are looking for new places to move to in Canada.
Ottawa has consistently ranked high on this list for the past couple of years. If it’s not at the top, it never falls out of the top 10 in the last ten years.
Ottawa’s real estate market is emerging.
If you’re only really looking to buy a property as an investment, Ottawa is still a great place to let your money grow. According to some experts, the local market is among the top ones to watch. They’re predicting that it will be the next market to heat up as Vancouver and Toronto cool down.
As everyone probably knows by now, Vancouver and Toronto’s real estate markets soared in the last couple of years, thanks mostly to foreign investors. Experts are thinking that Ottawa will be their next destination, so buying a property now would be an excellent move. With this, you might just be able to cash in on the influx of investors from abroad once they start to gain interest in the locale.
The local economy is bustling.
Being the capital city, it’s expected for Ottawa to have a steady economy. While it did have its lows, Ottawa’s economy is now relatively stronger. It’s home to the biggest tech park and the federal employment node in the country, so it also has a stable flow of jobs.
With such a promising economy, investing in a property in Ottawa makes perfect sense. If you’re going to live in it, you’ll be situated in a good place to live in. If you’re going to rent it out, there’s a good chance that you’ll find a reliable renter easily. With the good environment a steady economy fosters, you can benefit in staying rooted in this city.
The housing prices in Ottawa are very affordable.
Compared to other major Canadian cities, the house prices in Ottawa are way more affordable. The mortgage rates are also quite low, making it more attractive for people to own homes in this city. It has been this way for a couple of years, as the market stayed rather stable for a while.
If you intend to invest, though, you better do it fast. Prices are said to be rising lately, so if you want the best deals, it’s best to try snagging one right away. With the local real estate market heating up, time is of the essence if you want the best returns on your investments.
While more and more people may find renting a more practical solution for them, it doesn’t mean that investing in real estate is a bad idea entirely. Ottawa is definitely proving to be a great city to own a property with its current economy. So if you’re planning on doing just that, now is the best time to invest
