Barrie is a city in southern Ontario on Lake Simcoe with a population of about 135,000, and an hour’s drive north up the 400 highway from Toronto. Barrie real estate offers some great opportunities.
Barrie is a city in southern Ontario on Lake Simcoe with a population of about 135,000, and an hour’s drive north up the 400 highway from Toronto, a fact that let to a very strong population growth during the 1990s. It often considered the gateway to cottage country, being within a 20 minute drive Collingwood, Blue Mountain and Wasaga Beach.
The city itself sits right on Lake Simcoe. It’s named after Sir Robert Barrie, who was in charge of the naval forces in Canada during and after the War of 1812 where the city played a crucial role keeping the future country free, serving as a supply depot for British and allied forces.
From Toronto, it’s less than an hour’s drive north on highway 400 and both Go Bus and Go Trains service the city during the weekdays; Go Trains will provide hourly (30-minute during rush hours) all-day service within in the next 10 years – a boon to those who dread winter driving. In the city itself, Barrie Transit provides bus service for most of the city.
Barrie, located on the western shore of Lake Simcoe, is becoming a real estate dream. The city now has a ‘heated’ real estate market and is increasingly becoming more popular among home buyers looking for a resale later while being able to enjoy everything the city has to offer now.
Barrie is also the second safest city in Canada, which makes it an attractive choice for families and elders. According to data from Statistics Canada, the Crime Severity Index, which measures the volume as well as the seriousness of each crime in comparison to others, is lower than most other places in the country.
A lower crime rate can be beneficial in other ways including lower municipal and land taxes due to lesser spending on law enforcement.
First time buyers, who have been finding it difficult to enter the real estate market, consider purchasing a home in Barrie a good investment option while staying within driving distance to the city.
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Estate agents now advertise buying a property in Barrie as ‘a ticket to making money’. This is actually working as buyers looking to lease their house or looking to sell for a profit are making a bee-line to Barrie looking for some extra cash flow and maybe an extra income for the future years.
There are three main types of homes available in Barrie, condos, homes and multi-family homes. The demand remains high across the selection. Single family homes are highly valued but can remain unoccupied for extended periods of time if the owner chooses not to live in Barrie. Au-contraire, condos and multifamily homes, while not as pricey as detached homes, can be easier to lease-out and shared facilities can help make the condo more attractive to someone on a budget.
If you are choosing a property in Barrie to invest in, it is important you analyze the purpose of the purchase before buying. The size of your family and whether you are going to be a permanent resident should be the key factors you consider while making your decision.
Buying a water front home is a major attraction of purchasing a home in Barrie. Regardless where the house is located there are many things to consider while deciding to buy a waterfront home. Access to the water is always considered a premium sale in real estate and if you are a boat owner look for the presence of a dock for easy access to the water. If the dock is absent then check to see how far the nearest marina is and how far the nearest beach is.
Don’t hesitate to ask your real estate agent many questions and clear up any doubts you may had, don’t assume anything. Ask about dock licenses and marina requirements before you make the deal to buy a waterfront house.
Ask for specific survey details to get a clear idea where the property ends and the shore line begins, again as stated before, don’t assume anything.
For 2016, MoneySense magazine listed Barrie as 8th in Canada for buying, with a $373,203 average house price. Also, in 2015, Canadian Business magazine said Barrie was the 3rd best place to buy real estate in Canada.
Looking to buy a bit south, closer to Toronto? See the Newmarket real estate page.
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