Cambridge Ontario still #1?
- Thread starter hjl
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Absolutely, still #1 area.
The long term economic strength of the region continues to provide an engine to the province. It, as with all areas in the province will experience their short term ups and downs, however the economy in the Technology Triangle region is well diversified. Make sure you do your own homework on the property and the neighbourhoods you are considering and ALWAYS speak with the economic development office in any region you are considering investing in.
The long term economic strength of the region continues to provide an engine to the province. It, as with all areas in the province will experience their short term ups and downs, however the economy in the Technology Triangle region is well diversified. Make sure you do your own homework on the property and the neighbourhoods you are considering and ALWAYS speak with the economic development office in any region you are considering investing in.
QUOTE (DonCampbell @ Jul 29 2008, 01:59 PM) Absolutely, still #1 area.
The long term economic strength of the region continues to provide an engine to the province. It, as with all areas in the province will experience their short term ups and downs, however the economy in the Technology Triangle region is well diversified. Make sure you do your own homework on the property and the neighbourhoods you are considering and ALWAYS speak with the economic development office in any region you are considering investing in.
Thank you for your response. I have a follow-up question. In terms of resale value, would you rather go with a townhouse/condo/semi-attached that is newer or a detached single home that is older? I have heard that condos don`t appreciate as much in value compared to houses, but I`m wondering how much older homes depreciate in value over time. Any info would be appeciated.
The long term economic strength of the region continues to provide an engine to the province. It, as with all areas in the province will experience their short term ups and downs, however the economy in the Technology Triangle region is well diversified. Make sure you do your own homework on the property and the neighbourhoods you are considering and ALWAYS speak with the economic development office in any region you are considering investing in.
Thank you for your response. I have a follow-up question. In terms of resale value, would you rather go with a townhouse/condo/semi-attached that is newer or a detached single home that is older? I have heard that condos don`t appreciate as much in value compared to houses, but I`m wondering how much older homes depreciate in value over time. Any info would be appeciated.
QUOTE (hjl @ Jul 30 2008, 11:53 AM) Thank you for your response. I have a follow-up question. In terms of resale value, would you rather go with a townhouse/condo/semi-attached that is newer or a detached single home that is older? I have heard that condos don`t appreciate as much in value compared to houses, but I`m wondering how much older homes depreciate in value over time. Any info would be appeciated.
Hi hjl;
Without a doubt go with the older detached home.... True that older homes depreciate over time. So do townhouses/condos/semis etc...etc... In fact much like cars, homes continually depreciate every single day. The overwhelming difference is that the land under the home however certainly does not depreciate. THAT is where the appreciating value comes from. It is the land under the home where the big appreciation comes from while the home each day depreciates... and with the detached older home you would get more land than a condo unit up in the sky or a townhome or semi.
Also, no condo rules and stuff to deal with.
Just my 2 cents.
Hi hjl;
Without a doubt go with the older detached home.... True that older homes depreciate over time. So do townhouses/condos/semis etc...etc... In fact much like cars, homes continually depreciate every single day. The overwhelming difference is that the land under the home however certainly does not depreciate. THAT is where the appreciating value comes from. It is the land under the home where the big appreciation comes from while the home each day depreciates... and with the detached older home you would get more land than a condo unit up in the sky or a townhome or semi.
Also, no condo rules and stuff to deal with.
Just my 2 cents.
Great question! I recently bought a single family house in Kitchener, and had to do some extensive research to ensure that the fundamentals are still pointing in the right direction.
What I found was that the job growth forecast for 2008 in K-W-C was positive. There is also a study in the works aiming at brining GO Train to the region. The houses valued $225 and higher appreciated year-over-year by 8%. Furthermore, Research in Motion just purchased a sizable property in Cambridge, which likely indicates their intentions to expand.
Hope this helps.
Oleg Pereslegin
[email protected]
What I found was that the job growth forecast for 2008 in K-W-C was positive. There is also a study in the works aiming at brining GO Train to the region. The houses valued $225 and higher appreciated year-over-year by 8%. Furthermore, Research in Motion just purchased a sizable property in Cambridge, which likely indicates their intentions to expand.
Hope this helps.
Oleg Pereslegin
[email protected]
- Joined
- Sep 6, 2007
- Messages
- 349
We live in Cambridge and own several properties in Kitchener. We have targetted resale townhouse condos because we believe they are under priced. You can still buy in some areas for less than $150K. Resale townhouse condos have had an above average increase in value in the last couple of years. New townhouse condos all sell for over $200K.
New apartment condos in Cambridge are going up all over the place, especially in the Galt area where we live. I am cautious about them because they don`t tend to sell quickly. There are a lot of new unsold apt. condos on the MLS listings and some were built a few years ago.
All the Best!
New apartment condos in Cambridge are going up all over the place, especially in the Galt area where we live. I am cautious about them because they don`t tend to sell quickly. There are a lot of new unsold apt. condos on the MLS listings and some were built a few years ago.
All the Best!