The number 1 question I get asked on a weekly basis, “Should I Invest Now??”
I’m not overly concerned with bad markets….. In any market there is opportunity. Time and time again there have been many investors who made great investments. For example, in the 80’s and 90’s during a down market, many investors were still able to make a good return. How they did it was simple, they stayed focus on great deals and properties that provided them cash flow.
One key thing to ensure you stay ahead of the ball is to keep a close eye on the fundamentals… population growth, transportation and income. Don’t become emotionally attached, remember you are not going to live there so don’t overspend. The last tidbit of advice is to look for deals that will deliver you value and cash flow. Remember, Cash Flow is King!!
The Real Estate Investment Network (REIN), a national group of about 3,000 investors who own approximately $3 billion worth of property across Canada, ranks the Durham Region as one of the top places to invest in Ontario – #7 in the entire province! Increasing number and quality of employers, the in-migration of a younger population and the expansion of post-secondary institutions are among the factors that have the area primed for continuing growth.
“You’ll find modern urban centres, downtowns lined with heritage buildings and scenes of quiet rural beauty. Beaches, marinas, parks and waterfront trails line the southern boundary of the region. Pickering boasts a Nautical Village at Frenchman’s Bay that attracts locals and tourists alike with its boardwalk, cafes, shops and live music. Shopping opportunities are diverse, ranging from the historic shopping area of Pickering Village in Ajax, to Durham’s largest shopping centre, the Oshawa Centre, or the antique shops and clothing boutiques of downtown Bowmanville.
Head north and you’ll find rich agricultural lands that meet the cottage country of Lake Simcoe and Lake Scugog, and quaint towns and villages dot the countryside. This is where you’ll find the picturesque townships of Uxbridge, Scugog, including Port Perry and Brock, which includes Beaverton.”
Durham Region at a glance
Major Employers:Durham District School Board; Durham College and University of Ontario Institute of Technology; Lakeridge Health Corporation; General Motors of Canada; Ontario Power Generation; Darlington Nuclear Power Station; manufacturing; agriculture.
Average home price, Jan.-Dec. 2011: $314,450
Average home price, Jan.-Dec. 2010: $299,983
When homes appreciate at 3-5% each year, that’s a healthy market and that’s what we are in right now.
Now go out there and take action…. there are some great deals!
Until next time, make the SMART CHOICE!