Why Should You Invest In The Barrie Real Estate Market?
Life in Barrie gives you several liberties with regards to 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.
List of New Townhomes in Barrie
New Townhomes In Barrie And Reasons To Buy
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.
Employment In Barrie
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.
Average Townhome Prices In Barrie
Barrie is 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.
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.
Questions & Answers
Aside from the costs of buying a pre-construction home and the deposit, buyers are also responsible for other costs such as development fees, warranties, taxes, and attorneys’ fees. Development charges are collected by the city and go toward its infrastructure. After building permits have been granted, development charges are collected to pay for new developments. Local bylaws will determine how much is required to pay for the development. Developers charge different amounts for different types of properties. It is the buyer’s responsibility to pay for warranties that cover deposits and protect them against financial loss. Additionally, buyers must pay the provincial land transfer tax and the HST. Additionally, legal advice is recommended when buying a pre-construction house, and buyers should make sure they know how much it will cost.
When buying, selling, or refinancing a resale house or a pre-construction property, buyers should hire a real estate lawyer to assist them with the process. Select a lawyer who has experience with your type of property, understands the market, has competitive rates and specializes in real estate. A lawyer can help the buyer of a home, whether it is resale or pre-construction, complete a title search, register the home in the buyer’s name, prepare a Statement of Adjustments, and coordinate financial transactions. Your cost of hiring a real estate lawyer will depend on the services you’ll receive and possibly the type of property you intend to buy.
Property inspections for pre-construction properties differ from those for resale properties. It is highly recommended to perform a pre-delivery inspection when buying a pre-construction townhome. A Pre-Delivery Inspection, or PDI, takes place before you take possession of your new home. After the construction is completed and the homes have been viewed, you may conduct a PDI. On the day of the inspection, the builder will demonstrate the different features of the property, such as ventilation, plumbing, and heating. It is the builder’s responsibility to note any damaged or missing parts of the house. This is the time when buyers can determine if they would like to make changes to the final product and inform the builder of the changes they wish to make. PDI forms must be signed after the inspection has been completed.