Where to Find Value in Ottawa

By Bruce Firestone | Uncategorized

Sep 20

You make money in real estate when you buy not when you sell. So buy smart. Here is a current map I use when recommending areas for residential clients or investors to look at in order to obtain above average returns.

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Real estate is a hyper local business so use a realtor who knows your city, town or county really well. You are not looking for the cheapest home. You are searching for one that is affordable for you, but also one that increases quickly in value.

In my experience, the areas highlighted with red asterisks above provide affordable housing that is also a good investment as well as being located in highly livable neighborhoods. 

Ottawa, in my view, is one of the best real estate markets in Canada and almost certainly has the best investment potential of any capital city amongst the G20 nations. You can still buy a bungalow less than 15 minutes from the Parliamentary precinct in Ottawa for $314,000, renovate it to create a lower level, 2-bedroom apartment with its own entrance, partly funded (if you so choose) by a $15,000 Ontario Renovates grant and then remodel the upstairs into an ultra modern 3-bed, 2-bath home on one level for your own occupancy and live there for less than $900 per month. 

How do I know that? Clients of mine just did it.

Now try that in London, England.

Remember, you are the owner so all increase in property value over time goes to you. Moreover, every month you pay your mortgage (with help from rent you are collecting from your lower level tenants), you are paying down part of your mortgage principal, which means that money also ultimately goes to you.

Bruce M Firestone, broker, Century 21 Explorer Realty Inc, call: 613.422.6757 x 250, email: bruce.firestone@century21.ca, text: 6137628884, tweet: @profbruce

http://www.brucemfirestone.com/

Making Impossible Possible

Postscript– here are OREB (Ottawa Real Estate Board) neighborhoods (districts) I tend to search most often:

3501,3502,3603,3605,3606,3607,3602,3503,3504,3505,511,3401,3704,3801,3802,3803,3804,3805,4201,4202,4203,4204,4205,4301,4302,4
303,4403,4404,4405,4406,4407,4408,4501,4502,4503,4504,4505,4601,4602,4603,4604,4605,4606,4607,4608,4701,4702,4703,4704,4705,4
801,4807,5003,5101,5102,5103,5104,5105,5201,5202,5301,5302,5303,5304,5401,5402,5403,5405,5406,6001,6002,6101,6102,6103,6201,6
202,6203,6204,6301,6302,6303,6304,6305,7001,7002,7003,7004,7201,7203,7204,7301,7302,7402,7403,7503,7504,7505,7601,7602,7603,7
604,7605,7606,7607,7802,7803,7804,3604,3608,3609,3701,3702,3703

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