If you are thinking about investing in Canadian real estate, where do you start? Do you have any idea what type of property would be worth your investment and which areas are up-and-coming right now? Listed below are a few locations you might want to consider.
1. Surrey, British Columbia
After Vancouver, this city ranks second in size pertaining to population. The city offers a wide diversity in culture and has experienced improvements in health care, education, recreation and transportation. The demand for real estate in this location is high due to the fact that estimates show an increase of approximately 1,000 new residents each month. This location would make a great starting off point for first-time real estate investors.
2. Barrie, Ontario
Barrie is located in Southern Ontario and affords investors a great opportunity to experience gains. It is a highly populated area that has seen quite an increase in population over the last few years, indicating that real estate in this area will also be on the rise. Barrie, like Surrey, has had improvements in specific sectors such as transportation, agriculture and industry. The city is close to Toronto and is one of the fastest growing areas in Canada at the current time. If you are thinking of investing in Canadian real estate, you might want to give serious consideration to Barrie.
3. Calgary, Alberta
This area in Alberta has recently ranked third regarding the highest values for residential homes. Towns that are located around Calgary are also experiencing a high demand for real estate, making this a location that is increasing in population and thereby in value. When making a decision about where to invest in Canada, you may want to consider Calgary and outlying areas.
4. Maple Ridge, British Columbia
Maple Ridge is working on creating a better transportation system than what already exists in the area. The Translink/Gateway Project will greatly increase accessibility to different areas in the region, and the value of land is expected to increase as a result of this factor and also the fact that more businesses are likely to move to the area.
5. Red Deer, Alberta
Here is a location in Canada that combines both city and country life. It is attracting many individuals who are looking for the charms of the country along with the advantages that a city can offer. Businesses fare well in Red Deer due to lower operating costs as well as lower combined tax and utility rates that happen to be the lowest in Canada. Access to other important markets is also good. Red Deer is becoming a very diverse location for both work and play, and real estate looks set to go higher in value within the next few years.
You have a number of options when it comes to investing in Canadian real estate. If you make your investments wisely, you can be reaping the benefits of your efforts in the years to come. With the economy still somewhat unpredictable, savvy investments are more important now than previously.
About the Author: Claire Atkinson writes for Kanetix, a Canadian financial services website.
Do you want to meet real estate agents in these areas to get a feel for what they can offer? No problem, start here by meeting them anonymously so that you can decide who is right for you to work with.