Investing in Palermo West Real Estate
Young families are particularly drawn to Palermo West because of its position in northwest Oakville and its close proximity to amenities. It is bordered to the east by Bronte Rd., to the north by Dundas St., and to the west and south by Bronte Creek Provincial Park. The settlement, which was first known as Hagartown, was founded in Upper Canada in 1805 by American immigrant Lawrence Hagar. Palermo is situated in Oakville’s western region. Bronte Creek Provincial Park, which also serves as this neighbourhood’s southern boundary, divides it from the City of Burlington to the west. The centre of this steep neighbourhood is cut through by a green corridor. Colonel William Parkway, which meanders from Dundas Street West to the water reservoir at the southern end of the neighbourhood, is the neighbourhood’s principal thoroughfare.
List of New Condos in Palermo West Neighbourhood
Why Buy New Homes In Palermo West?
Compared to the older neighbourhoods to the east, the houses in this neighbourhood are primarily detached and have a few more architectural details. Brick, stone, and stucco are some of the materials used to clad exteriors. There are numerous big Palladian windows. Many of the homes have magnificent front porticos or a tiny balcony that extends above the entranceway from the second story. Although there are small communities and semis, detached homes predominate. There are similarities between Bronte Creek and Joshua Creek, as many people have noted. Due to its proximity to Toronto, Joshua Creek is significantly further east and does have higher housing prices, however the recently completed New Oakville Hospital in adjacent Westmount might eventually make up for it. Wealthy, dual-earner families with children who value the area’s spaciousness, beauty, and safety can be found there.
Entertainment & Recreation In Palermo West
The entrance to Bronte Creek Provincial Park is located at 1219 Burloak Drive. Five hiking trails, an outdoor pool, a disc golf course, an animal farm for kids, picnic spots, and a campground are all features of this sizable public park. There are toboggan runs and cross-country ski paths in the winter. Additionally, throughout the year, environmental interpretation tours are given, and a maple syrup festival is held in March. The lovely, multipurpose rooms of St. Luke’s Community Centre are perfect for meetings, classes, parties, receptions, showers, concerts and performances, kid and youth activities, and more.
Average Price of Condos In Palermo West
The living cost in Palermo is comparable to that of the majority of the GTA’s main suburban areas, despite its location on the northern edge of affluent Oakville and only somewhat more affordable Burlington. A Starbucks Venti, standard roast, is $2; Shrimp Fettucini at Olive Press is $17.95; and a three-bedroom, two-and-a-half-bath townhouse rents for about $1,700 monthly.
Transit In Palermo West
With easy access to the QEW in the south and the 407 in the north, Palermo is the ideal location for commuters travelling east and west. Dundas itself is a major thoroughfare. Palermo is 6.7 kilometres south of the Bronte GO station, 38.1 kilometres from Pearson International Airport, 44.7 kilometres from Billy Bishop Airport, and 140 kilometres from Buffalo Niagara International Airport via car. Palermo West, one of Oakville’s older neighbourhoods, is expanding quickly as a result of its location to the brand-new, cutting-edge Oakville Hospital. The region is particularly appealing to families searching for a nice spot to raise a family because of the number of new house sites, walking paths, playgrounds, and loads of green space. Palermo is a developing neighbourhood that will soon be home to Halton’s brand-new, state-of-the-art Oakville Hospital, measuring 1.6 million square feet, in December 2015. The Oakville Soccer Club, the largest soccer league in Canada with more than 12,000 participants, is nearby, making this region ideal for people who enjoy cycling, hitting the walking trails, and using the tennis courts.
Questions & Answers
The neighbourhood you buy in will often affect the kind of tenants you attract and your occupancy rates. However, keep in mind that more new homes may result in more competition for tenants. Future projects can identify places with promising growth. Reduced vacancy rates in the area may be indicated by a small number of ads, allowing landlords to increase rents. However, in areas with high occupancy rates, landlords will lower rents to recruit tenants. You must look at the normal rental rate in the area to ensure that any property you choose will bring in enough income to cover the mortgage, real estate taxes, upkeep, and other expenses.
The Oakville housing market had a challenging year, mirroring the tough year the Canadian real estate market endured. Real estate experts in Oakville predict that things will start to get better in 2022. As more people adopt the work-from-home lifestyle, they want to buy bigger, more opulent homes. As a result, Oakville’s housing market is anticipated to see an increase in demand. Due to its rural setting and proximity to the thriving Halton region, much of Rural Oakville can be a great place to consider settling down and calling home.