Why Invest in Old Oakville Real Estate?
Old Oakville is one of the most beautiful and scenic communities in the Greater Toronto Area. It is located on the shores of Lake Ontario. Known for its historic shopping centre, an abundance of private schools, and beautiful residential area, the streets of Old Oakville are filled with heritage homes that have been designated with historic plaques. As a lakeside neighborhood, Old Oakville has a variety of waterfront parks and boardwalks that serve as wonderful strolling and picnic spots with stunning views of the lake. Most of the heritage homes are located south of Lakeshore. The downtown centre is sprinkled with a good proportion of townhomes and upscale condo developments. This neighbourhood is a wonderful option for anyone seeking a city vibe without residing in a major metropolis like Toronto but still nearby enough to commute.
Why Buy New Condo Developments in Old Oakville?
Old Oakville homes are often constructed in the Tudor or Georgian architectural styles. Even while the homes are less old as you travel farther north, they nevertheless have a certain rustic beauty. Along with detached houses, there are new condo developments, townhomes, and modern custom buildings. The Town of Oakville’s central core is also located in Old Oakville. Along with a wide variety of shops and restaurants, this neighborhood is also home to the prestigious Appleby College boys private school, Erchless Estates (a.k.a. the Oakville Museum), Town Square with its famous clock tower on Lakeshore Road East, and the Oakville Centre for the Performing Arts. Old Oakville has long been a popular choice for company executives and their families who appreciate the great schools, the beauty of the neighbourhood, and the convenience of living so close to Mississauga and Toronto, where many major corporations have a presence.
Educations in Old Oakville
The majority of the schools in Old Oakville are well ranked. Parents may choose high-quality schools from kindergarten through 12th grade. This neighbourhood features 10 public schools and 5 Catholic schools, so your children can receive an excellent education. Some of Old Oakville’s wealthier residents may opt to send their children to nearby private schools such as Appleby College, Dearcroft Montessori, MacLachlan College, St. Mildred’s-Lightbourn School, West Wind Montessori Jr. High School.
Average Price for Condos in Old Oakville
Old Oakville’s average selling price in July 2022 was $1,663,000, with most of the transactions costing above $2 million. Detached houses make up the majority of real estate in Old Oakville, making up 50% of sales, second by condos at 40% and third by townhouses at 8%. Homes in Old Oakville typically consist of two bedrooms. Condos in Old Oakville sold for an average selling price of $887,559 in July 2022, a 5.7 percent increase over the same month in 2021.
Transit in Old Oakville
The Oakville Go Station provides excellent service to residents in Old Oakville. Bus and train service are also available to locals at this major transit hub, which is located at 214 Cross Avenue. Toronto commuters often use the Lakeshore line train service. The fastest way to downtown Toronto by public transport is by bus to the Oakville GO Station, which will take you to Union Station in about an hour.Residents prefer to drive and enjoy the beautiful scenery while driving along the lakeshore. However, it will take you roughly 30 minutes to travel from the Queen Elizabeth Way to the Gardiner Expressway if you want to go into downtown Toronto. Old Oakville gives residents a wide variety of delightful stores and restaurants to visit. In fact, more than six blocks worth of shops, ranging from designer boutiques to wellness/beauty centres, are within a short walk. These stores are sure to have everything Old Oakville residents need. On the other hand, Oakville Place is easily accessible through Leighland Avenue. It has a number of well-known retailers, including Hudson’s Bay, Dollarama, Carter’s, H&M, Sport Chek, and many more. There are a number of restaurants throughout the downtown core that are just a short walk from Old Oakville. Borgo Antico Cucino Bar, for example, specializes in Italian cuisine, Oliver’s Steakhouse has everything the surf and turf you could ever want, and Colossus serves authentic Greek meals.
Questions & Answers
There are several benefits to buying a pre-construction condominium, including the ability to make design choices, large upfront payments are not required, and the possibility for a lucrative investment because condo costs are established per square foot. While the condo is being built, you may choose how you want your unit to be designed, such as which tabletops or flooring will be used. When you buy pre-construction condominiums, you pay in monthly installments while they are being built. When the condo unit is completed, its value may increase, allowing you to gain if you decide to sell it later.
By investing in Oakville real estate, you will have access to great schools, safe neighbourhoods, and a wide range of park and recreational amenities for you to enjoy when you buy a new condo there. As it is a newer area of the GTA, there are many choices for new condo developments as people move there as the town continues to grow. As a long-term investment, you should consider pre-construction condos in Oakville, as they are sure to appreciate in the long run.
16.2 percent of residents in Old Oakville, Oakville, Ontario rent their houses, compared to 83.8 percent who own them. In Old Oakville, the average monthly mortgage cost is $4,100, while the median monthly rent is $5,500.