Oakville is amongst the most desirable communities in Canada. Boasting numerous beautiful neighbourhoods, it's easy to understand why so many seek to call Oakville home. But, this means demand is high, homes tend to sell quickly, and multiple bids are the norm. The Oakville, Milton and District Real Estate Board (OMDREB) recently reported that the average sale price in October 2016 was $1,133,495, which was an incredible increase of 30.9% as compared to October 2015. Given the high demand, particularly from foreign buyers, to say that Oakville real estate remains a fantastic investment would be an understatement.
But, what's the best investment strategy? Which neighbourhoods should you invest in? How much should you pay? These are common questions. Since there really isn't much land left to build on in Oakville, existing older homes on large lots are most coveted by investors often seeking to tear down the old house and build a new custom home. As one would expect, the most suitable building lots can be found in Oakville's most desirable neighbourhoods, most notably neighbourhoods in the southeast and southwest areas of Oakville. However, the ultra-high prices of Oakville's southeast neighbourhoods mean the best value is currently in southwest Oakville. With strong rental rates, low vacancy, rapidly increasing home values, and strong demand, there is money to made by simply holding these properties.
Intrigued? Want to learn more? Contact me today to find your ideal Oakville real estate investment. Upon reviewing your goals, we can select the right investment strategy to meet those goals. From there, I can point you to the right properties in the right neighbourhoods at the right prices. I look forward to working with you!
John Merrill is a real estate professional specializing in assisting buyers, sellers, and investors achieve their real estate goals by delivering value through insightful, reliable service and by ensuring buyers and sellers alike get the best purchase or sale price possible. For any questions about this blog topic, or any other real estate topic, feel free to contact John at 905-630-0778, email@example.com, or on Facebook at @JohnMerrillRealEstate.