Investing In Barrie Ontario
Located at the northern end of Ontario’s Golden Horseshoe, Barrie is a vibrant city that has been growing at a strong rate in recent years. As a matter of fact, it was recently named by Real Estate Investment Network as one of the best areas to invest in Ontario.
Barrie has a lot going for itself. The population is growing, tourism numbers have been on the rise, there’s a good local transportation system, and more. If you’re considering a real estate investment in Ontario, Barrie should be near the top of your list.
Why you should invest in Barrie, Ontario
Looking for an investment that has a chance of really taking off in the coming years? Barrie could be the answer. During the past few decades, the population of Barrie has grown nearly six-fold. An increased demand for rental units is frequently linked to increasing property values.
What’s more, Barrie boasts a relatively young average population. The median age is just 37 years old. Much of this population consists of young professionals with corporate jobs. A young, upwardly-mobile population is a great sign for future property values.
Finding young, reliable tenants is also a great way of ensuring tenants stick around long-term in a mutually beneficial relationship.
In the near future, Barrie’s housing market is projected to expand significantly. Consequently, an uptick of movement in more costly apartments and homes can be expected, which would be a boon to property investors.
Strong Transportation Sector
Local transportation options are just another good reason why you should consider an investment in Barrie’s real estate market.
GO Transit—the regional transportation system—covers a whopping eleven thousand kilometers. It serves the nearly eight million people who live in the entire Greater Golden Horseshoe area, which includes the Greater Toronto area.
Are you particularly interested in short-term rentals? If you are, Barrie should be among your top options, as it offers exciting opportunities for tourism.
Some of the attractions in Barrie include:
- Innisfil Beach Park. Located 30 minutes from Barrie by car, Innisfil Beach Park is located on the shores of Lake Simcoe. Activities here include kayaking, boating, barbecuing, and paddleboarding.
- Springwater Provincial Park. This is a great place for mountain biking. Visitors can enjoy a few kilometers of hiking trails, too.
- Horseshoe Valley Resort. Located on Highway 400, the resort offers a plethora of fun activities. From skiing to snow tubing to zip lining to golfing, there is no shortage of exciting things to do here.
- Bear Creek Exotic Wildlife Sanctuary Inc. A non-profit organization runs this refuge for abused or neglected exotic animals. The zoo hosts a variety of wildlife, including lions, tigers, and large snakes.
- Hardwood Hills. This is a great place for cross country skiing. Visitors can ski, bike, and even hike the trails and play golf.
- Simcoe County Museum. Located at 1151 Highway 26, this is an excellent learning opportunity in the area. Besides teaching about Canada’s Indigenous peoples, the museum also features great indoor and outdoor exhibits.
Other attractions include Bullseye Axe Throwing, checking out an OHL Hockey Game, and the Bear Creek Eco Park.
Are you interested in investing in a commercial property? If so, Barrie may be a good option for you. Besides being a residential real estate magnet, Barrie is also home to a thriving economy.
As a matter of fact, Barrie, at one point, was regarded as one of the fastest growing cities in North America.
Every year, new industrial constructions are started. In 2018, for example, a whopping $43 million was injected in housing construction alone.
What’s more, Barrie is a jobs hub. In the last decade, the city has created about 25,000 new jobs. And about 60% of those have been created in the last two years.
Location, location, location. This is something you may have heard when talking to an agent about home values.
When it comes to investment properties, location can make the difference between a success and a failure. Fortunately, Barrie is located in a great location: central Ontario.
It sits just next to both Lake Simcoe and Kempenfelt Bay. The quality of life here is truly high, attracting people from far and wide. Barrie has a beautiful way of life and an ideal location. Particularly during the ongoing global pandemic, access to natural beauty is a huge selling point.
Additionally, Barrie is within close proximity to Toronto. It’s just located one hour away, making it a potential commuter hotspot. As a resident of Barrie, one can comfortably work in Toronto while living in Barrie.
Quality Tenant Pool
Barrie has a high potential for return on investment. The city ranks among the most expensive rental markets in Canada. In other words, renters here are willing to pay premium rents in exchange for high quality living.
Investing in such a market almost always guarantees two things. One is that you can expect the price of rent to go up frequently. Another is that your property will appreciate in value.
Both the tenant pool and the rental market are quite robust, which means low vacancies and high rental income for property investors.
Low Crime Rate
If you invest in Barrie real estate, you can rest assured that your investment will be relatively safe from excessive property damage. Statistics Canada has consistently ranked Barrie among the safest cities in Canada.
The Bottom Line
Whether you’re looking to invest in single family units, apartments or skyscrapers, Barrie is a good option to consider.
Remember that there are a number of other aspects to consider when it comes to property investing. For instance, Ontario’s rental market is subject to unique laws and regulations that you should be sure to familiarize yourself with.
AMR Property Management can help you with all of your property management needs. We have been helping real estate investors and landlords since 1998. Our services are high-quality, reliable, and value-driven. Get in touch today to learn more about our esteemed services.