Recent propertyguys.com survey

I was asked by propertywire.ca to comment on the recent survey conducted by propertyguys.com which states consumers save money selling privately. Got a lot of interest...and comments!

Hamilton #1 in Ontario for investing

As announced in the Hamilton Spectator, May 10^th, Hamilton is now ranked as the top city in Ontario for investing. According to Don R. Campbell, real estate investment author and president of the Real Estate Investment Network, “Hamilton is 3^rd in Canada, after Kitchener/Waterloo and Edmonton.”

Don also stated that FDI Magazine ranked Hamilton 3^rd for “quality of life” which surprised most of the crowd that had gathered at Hamilton’s Warplane Heritage Museum for the annual Commercial Realtors Summit.

Canadian Business Magazine ranks Hamilton as the 7^th best place in Canada to do business and both Glanbrook and Flamborough were cited for realizing the most growth in the next 10 years.

As for proximity to Toronto, Don states that “People measure distance in minutes not kilometres these days,” meaning that the distance for a Toronto commuter is actually getting shorter (in time) due to the improving infrastructure such as the 407 and 401 improvements.

When the Rapid Transit System slated for downtown Hamilton hooks up with the improved GO train operations within the next 15 years, residents from downtown Hamilton will be able to get to downtown Toronto in just about an hour…by mass transit. Thanks to much lower housing costs in Hamilton, that means a lot of Torontonians will be moving here. Don mentioned Vaughn and Richmond Hill as two GTA suburbs where a lot of people are looking to Hamilton for a move. Distances to downtown are similar but the cost of living in Hamilton is so much lower.

STUDENT HOUSING

Of particular note to investors who read this blog regularly is Don’s insight into Student Housing. Noting that a large percentage of graduating students leave the city after school, he says the city has to recognize what is required in order for University-age citizens to initiate the next “Facebook” or “My Space”.

“These people congregate in small units, living commune style, incubating the next great enterprise.” He stresses that the City has to allow for this type of housing in order to keep students here initially.

“After a few years, these same incubated companies will have 15-20 employees and renting space in bigger complexes here in town… But they start in tiny residences or student homes.”

He warns the City to watch Waterloo and see what happens if they pass the licensing law restricting rooms to 4. Waterloo has already experienced increased prices in student homes, leaving many investors looking to Hamilton or London to invest. Licensing single-family homes, he feels, is only one solution to the problem of controlling a growing student population. Better solutions would aid investors to sink money into properties, while simultaneously encouraging students to stay in town and grow their tiny businesses here.

by Robert J. Morrow, editor: http://www.hamiltonhomereview.com/
Sales Rep: Chase Realty Inc., Brokerage

Tip 31, Buying a Condo or Home in Burlington, Ontario - How to Start?

Tip 31, Buying a Condo or Home in Burlington, Ontario - How to Start?