Why Should You Invest In The Barrie Real Estate Market?
Barrie is a rapidly-growing city in Simcoe county that offers stunning views of the lakefront owing to its prime location that comes with some of the best urban as well as natural amenities. The Kempenfelt Bay along with Lake Simcoe form its borders, offering its residents with the experience of lakeside living. You will find several beaches here that offer spectacular views along with multiple water-based activities. Some of the other activities here include hiking and cycling trails, boating, fishing, paddle boarding and splash pads for children. Barrie also features some of the best hills for skiing and snowboarding in the area with Horseshoe Valley and Mount St Louis close by. Outdoor activities here include snow tubing, snowshoeing, ice skating and skating. Be it summer or winter, you will always find something to do out here throughout the year.
List of New Homes in Barrie
Why Buy New Pre-construction Homes In Barrie?
Living in Barrie provides you with liberty when it comes to enjoying the best of a dynamic urban environment that features residential homes, big box stores along with numerous employment opportunities. Barrie has a prime location in Southern Ontario and is bordered by Lake Simcoe as well as Kempenfelt Bay. Barrie is often regarded as a commuter city and is located just 80 kilometers to the north of Toronto. Majority of the population commute south into Toronto for work regularly. The real estate affordability and the close proximity to Toronto has resulted in a major influx of citizens over the last couple of years. Barrie has started to become recognised as one of the most desirable places to call home over the last several years. In 2016, the population of this city was 141,434, which was an increase of 4 percent from 2011 to 2016. The population of Barrie is not expected to slow down anytime soon, rather it is expected to increase up to 210,000 by 2031, making it one of the fastest growing cities in Canada. Although Barrie is regarded as a commuter city, there are still many employment opportunities in the area. The city is home to higher education institutes, healthcare as well as data and distribution centres. Future residents living here will witness many big corporations residing in this area which will include IBM and BMO data centres, TD Canada Trust technology and operations centre, TD Waterhouse regional centre, Simcoe County District School Board, The Source distribution centre and Coca-Cola corporation just to name a few. Besides these, there are already numerous corporate employers in this area, making Barrie an ideal place to call home.
Tourism In Barrie
Barrie’s local economy is largely dependent on tourism and as a result you can see several tourists who come here to spend a day at the beach during the summer months. The downtown core of Barrie is also a favourite spot and is where you can find the city hall. There are several historic monumental buildings here that feature multiple many unique shops, dining experiences, boutique stores, live entertainment and local art. Most of the historical monuments here have been well-preserved and date back to the 1800s. The culture, arts and history of Barrie have played a crucial role in helping define its identity. This city is merely an hour north of the city of Toronto and is in close proximity to the province’s cottage country with the famous Wasaga Beach, which is a popular tourist spot located to the immediate north side of the city. This region provides a safe yet dynamic environment with renowned schools nearby, making it an ideal spot for growing families. The Georgian College is one such example. It spreads over 140 acres worth of land on the north eastern corner of the city and has more than ten thousand students who are enrolled full-time, along with over 25,000 students who are enrolled on a part-time basis. This is the largest campus of Georgian College. Barrie also offers several schools including high schools, elementary schools, catholic schools, private schools, public schools as well as French immersion schools.
Average Home Prices In Barrie
Barrie currently features single-family homes, townhomes, semi-detached homes and detached homes. The city is also already starting to get the attention of developers and investors alike, which is largely due to the employment opportunities, housing space, affordability, close access to the city and the unique amenities that the city has to offer. The average resale price for all types of homes here is around $541,808. This was an increase of 3.6 percent as compared to that of the previous year. The average rental rate currently stands at $1500. The vacancy rate is presently at 2.7 percent, which in turn makes the demand for housing strong.
Getting Around In Barrie
Residents who commute from this area largely depend on the GO Train at Barrie South that can get passengers to the Union Station in just 90 minutes. Passengers have enough time to relax and enjoy some time for themselves while travelling to and from work using the GO Train. This GO Train is associated with the Metrolinx expansion that provides quick and dependable service that takes passengers through the Greater Toronto Area. This is a two-way, all day reliable train service and has a new train which arrives every 15 minutes. This is ideal and convenient for professionals who have to keep their eyes on the clock while travelling to work regularly. Highway 400 is one of the main highways in the region and traverses through the centre of Barrie, making it a convenient access point. Residents can go south on this highway to travel to other important cities within the Greater Toronto Area such as Aurora, Newmarket and Vaughan. This highway also allows for easy commuting to Downtown Toronto in no time.
Questions & Answers
In Ontario, homebuyers are entitled to a third-party warranty. Warranty coverage typically covers structural and cosmetic damage, as well as the deposit. Buyers can negotiate warranty terms, and warranties can be added by them as needed. The buyer also receives additional insurance coverage when buying a pre-construction property. You must consult with the builder to understand what your warranty covers, what it does not cover, and how long the warranties last.
Pre-construction homes are a great alternative to resale homes for several reasons, including less competition, a greater return on investment, and customization. You will avoid losing out in bidding wars and going over budget when you purchase a pre-construction home, which is a common problem when purchasing a resale home. You can also expect a higher return on investment when you buy pre-construction. After the project is completed, you could see an increase in value in your new home. When you purchase a pre-construction home, you can customize the appearance of your home. In the future, custom homes are less likely to need renovations. Purchasing pre-construction homes can be risky since they can be delayed or cancelled. To minimize risk, you may wish to seek legal guidance.
It is highly recommended to conduct a home inspection for your pre-construction home. An inspection will identify any structural or cosmetic problems that occurred during construction, such as flooring, plumbing, and wiring.