Why Should You Invest in Halton Hills Real Estate?
Halton Hills is a small town that is a part of the Regional Municipality of Halton and located in the Greater Toronto Area’s northwestern corner. This is one of the best places to invest in real estate as it was ranked as the 10th best place to live in Canada by MoneySense in 2016. The overall development in the Halton area is happening at a rapid rate as some of the neighbouring municipalities along with the industrial lands around Milton are being developed. This has resulted in the demand for development in Halton Hills as it has been identified as one of the next best places to invest for long-term growth. There is also a strong demand for housing that has come out of all this, which has seen a major growth in property values year after year. The construction of new residential developments here will also result in the development of more businesses to serve the population that is growing. Investing in a new condo development here is one of the most lucrative options as the region is still developing, meaning that the prices of real estate here is comparatively lesser than some of other cities and towns across the Greater Toronto Area. Condominiums in Halton Hills have followed an appreciation rate of 5.8% for the last decade. This means that investing in a condominium now will reap much larger returns on the value in the years to come. The rate of appreciation is also expected to increase to a significantly higher number once the development process has reached its destination.
List of New Condos in Halton Hills
New Condos in Halton Hills and Reasons to Buy
The Greater Toronto Area (GTA) is regarded as North America’s fourth largest and the fastest growing metropolitan area. The prime location of Halton Hills in the northwest corner of the GTA makes it one of the most promising places to invest in a pre-construction condo. The strategic location of this small town also gives it the privilege to gain from the GTA’s markets. Investing here is a profitable choice considering the current rate of growth and also looking at the larger picture of the potential it holds for the coming decade. Besides looking into the investment aspect, the Town of Halton Hills also offers several beautiful landscapes along with urban lifestyle amenities. The community is diverse here and features music venues, festivals, year-round events and a lot of heritage attractions. The town is also surrounded by vast green spaces and natural environments that are ideal for hiking and cycling. The Niagara Escarpment is famous here and a popular destination for weekend hiking trips. Residents of this town also engage in a variety of sports as well as outdoor activities, thanks to the several facilities available here. Halton Hills also features boutique stores along with a plethora of dining, shopping and entertainment options that are suitable for all ages. The average age in Halton Hills is 39 years, making it an ideal place for young couples who are planning to start a life together. This town also has the second lowest average age in the entire Halton Region as 57% of the residents are married with an average household member of 3.1 people.
Employment in Halton Hills
As per the Business Conditions Survey of Halton Hills in 2017, more than 500 business owners as well as executives have confirmed that their investments within Halton had a positive outlook. An approximate 36% of business executives have planned on investing towards future growth. Out of this 86% had projected much higher returns on their investments for their businesses, with 31% already planning on strengthening their workforce and hiring more workers. At present there are over 1400 companies based in Halton Hills with jobs in the region accounting for more than 10% of the employment available in Halton. This indicates that there is still much room available for future developments, thereby bringing about more opportunities for growth and expansion. Halton had a population of 61,160 residents as per the 2016 census which is an increase of 3.6% from its population in 2011. As per statistical data, the population of Halton is expected to reach more than 94,000 by the year 2031 along with over 43000 new jobs. Halton Hills also has an advantage when it comes to new investments and businesses owing to its close proximity to rail, air, highways, freight, shipping and commuter rail. The top five sectors in Halton Hills in terms of employment include retail trade with 4,792 jobs, accommodation and food services with 1,591 jobs, manufacturing with 3,914 jobs, transportation and warehousing with 1,119 jobs and educational services with 1,539 jobs.
Average Prices of Condos in Halton Hills
Halton Hills has an average price per square foot of $810 for all types of pre-construction homes including condos, while the appreciation rate for these have been seen at 5.8% for the last decade. The average price for resale of condominiums here was $905,440 in the year 2019 with an appreciation rate of 8.1% as the average observed over a period of 10 years. When it comes to renting, the average rate for renting condos in Halton Hills is currently at $2,100. The rental price has been following a rate of approximately 4.7% appreciation for the last 10 years.
Halton Hills Transit and Accessibility
Although there are no robust local transit bus services in Halton Hills, there are several plans and efforts to boost the routes and transportation options within this municipality. Halton Hills will soon have its own unique transit system in place that can meet the needs and demands of the growing population. At present, Halton Hills has two GO Train Stations at Georgetown and Acton. Another proposed two-way GO Train service is also on the way to Halton Hills which will allow commuters to get to their destinations faster with more frequent services. Driving is one of the most convenient modes of commuting here and residents of Halton Hills will have easy access to Highway 407 and Highway 401. The municipality of Halton Hills is a part of the Greater Toronto Area and is in close proximity to the Pearson International Airport which can be reached in just under 30 minutes. The new proposed GTA West Corridor highway is also another addition that will significantly improve commuting. It will also be known as Highway 413, which will create a new multi-modal route for transportation, running from Highway 407 in Milton right up Highway 400 in Vaughan near Kleinburg, passing through Halton Hills. This expansion in highway aims to meet the growing transportation needs as population and jobs grow across several Urban Growth Centres by the year 2031.
Education in Halton Hills
Although Halton Hills is a small town, it is family-friendly and features several elementary, secondary and post-secondary schools within its borders and within convenient reach. The Halton District School Board is one of the most prominent educational boards here and features a plethora of schools under its borders including Abbey Park High School, Garth Webb Secondary School, Iroquois Ridge High School, Oakville Trafalgar High School, White Oaks Secondary School, etc. Besides this, there are also other boards here including Halton Catholic School Board and French Catholic School Board. The town of Halton Hills is also in close proximity to several colleges and universities, making it an ideal place for off-campus students looking for accommodation nearby. Some of the renowned colleges and universities here include McMaster University, Niagara College Canada, Hillfield Strathallan College, Wilfrid Laurier University, Oxford College of Arts, Business and Technology Inc, Appleby College, University of Toronto and several others.
Questions & Answers
The Town of Halton Hills also offers several beautiful landscapes along with urban lifestyle amenities. The community is diverse here and features music venues, festivals, year-round events and a lot of heritage attractions. The town is also surrounded by vast green spaces and natural environments that are ideal for hiking and cycling. The Niagara Escarpment is famous here and a popular destination for weekend hiking trips. Buying a pre construction condo in Halton Hills allow you to engage in a variety of sports as well as outdoor activities, thanks to the several facilities available here. Halton Hills also features boutique stores along with a plethora of dining, shopping and entertainment options that are suitable for all ages.
Inspecting a pre-construction property is different from inspecting a resale property. In order to ensure the quality of the condo unit, it is recommended that the buyer have a pre-delivery inspection done. Pre-Delivery Inspections, or PDIs, are conducted before the new condominium unit or house is handed over to the buyer. Once the construction is complete and you have viewed the unit for the first time, the PDI can be performed. During the inspection, the builder will demonstrate the properties’ various features, such as ventilation, plumbing, and heating. If any parts of the home are missing or damaged, the builder must note that. Consider keeping a checklist during the inspection to be aware of what to look out for. After the inspection is complete, the PDI form must be signed. During the inspection, if any issues are found with the new unit, you have 30 days to notify the builder. After 30 days, the builder is not responsible for the issues.
Land transfer tax is the tax paid by the buyer of a new home when buying land or an interest in land in Ontario. Taxes are paid by the buyer after the transaction has closed. The amount paid to the government will vary based on the type and cost of the property. Rates can range from 0.5% to 2.5%. In some cases, first-time buyers may be eligible for a refund of land transfer taxes. In the process of buying a home, a real estate lawyer can help you arrange how land transfer taxes will be paid.