As property prices are rising in the Toronto area many people are now looking for some other affordable area to buy property. During the last few years, we have been noticing that people prefer Brantford and lots of property sale is happening around that place as a result, a steady increase has been noticed in property value at Brantford too.
We have discussed with The Munir Group in order to get the real scenario about Brantford and asked a few questions. You can read their answers if you are interested to buy property in this area
Why do young buyers prefer to buy homes in Brantford?
Most young people and families prefer Brantford due to the availability of affordable homes. Also, living in Brantford is quite attractive. The two busiest highways in Canada are located here which will make commuting very easy. From an educational point of view, there are plenty of good educational institutions available. To accommodate such a growing population what type of communities must be built?
Within the pre-construction market in Brantford, there is a nice mix of certain density options. Brantford is also experiencing a continued mix of townhome products and single detached homes outside the downtown area. It is necessary to accommodate those buyers who are really attracted to Brantford and also encourage the growth of such types of buyers.
Will there be more new developments taking place in Brantford soon?
Yes, Wellington is a good example where most of the young professionals as well as students are moving into Brantford. There is a need for other housing alternatives and therefore mid-rise options will come up. In the downtown location, OLG Casino, a new YMCA, public transit, and many new homes to are coming up. Besides that, great shopping and also dining options are coming up.
How can we compare the new home market and the resale home market?
As far as detached homes in Brantford are concerned it has gone up by 22% within August 2017. In the second quarter of 2017, 680 numbers of single detached homes have been sold. For any new homes, the average price is slightly higher than any resale house but the gap is going to reduce further in the coming days.
Which are the specific areas where people should buy property in Brantford?
For long-term investors, any place in Brantford will be great to invest in. However, buying any property near the downtown area will be a good idea because there will be plenty of expansion in the near future and you can expect high rental value. Second, the option can be buying property from any reputable builder where you will get strong capital appreciation prior to completion.
Which is the next booming market in comparison to Brantford?
Today’s Brantford can be compared to Oshawa which was 5 to 8 years back. Massive development took place in Oshawa and as a result property value has increased tremendously. Oshawa too was a nice place to invest for young families and first-time buyers but now it has become less affordable. The same will be the case within the next 5 to 8 years in Brantford too.
