Are you looking to buy an investment property? With the right destination, there can be a handsome profit in renting out homes and even separate rooms. The Kitchener- Waterloo area has many opportunities for investors.
There are several colleges and universities that attract students to rent out rooms. There are plenty of working-class people who want to rent near the area. It is highly desirable with everything close by, convenient transit, and more.
The following article will describe the area more and you will surely be convinced of the area and what it has to offer, including the next real estate investment opportunity.
There are several particular areas to keep in mind in Kitchener-Waterloo. That will draw in different demographics all looking for the same thing – a place to rent. There are students, families, hard-working people, and even new and seasoned retirees.
What to Look For
When it comes to investing in property these types of areas are more likely to draw in residents:
Anywhere around downtown core: Individuals who work in the downtown area will find it more convenient and less of a commute to live in the area. Being within walking distance and having ease of the LRT and public transit also makes it highly desirable.
Anywhere around public transportation: Living close to the LRT or bus line makes it easier for those to commute and some residents don’t need to spend money on gas or the maintenance of a car.
Anywhere around universities or colleges: Of course, students will always flock to the neighbourhoods that bring them closer to the campus they are attending.
Anywhere around employment: There are several institutions and other business areas that make the areas surrounding them highly desirable for convenience. Not only convenience, but the neighbourhoods in the Kitchener-Waterloo area all seem to have their own attributes.
The LRT line conveniently crosses from one end of Kitchener to the opposite end of Waterloo. The area around this line is the most desired, making it the best opportunity for investors.
580 BEAVER CREEK Road Unit# 266, Waterloo, N2J3Z4
580 BEAVER CREEK Road, Waterloo, Ontario N2J3Z4
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Most in Demand Neighbourhoods
Some of the most desired neighbourhoods include:
Doon: Dating back to the early 19th century, this is a historic area that used to be a bustling community with sawmills, a rope factory and other businesses. Today it is home to the largest Conestoga College and the Doon Heritage Village.
Closer to the river is more secluded but the area near the College is highly desirable for students looking for convenience.
Pioneer Park: Known for some of the best sunset views in the city, this neighbourhood is tranquil and serene. There is a good mix of real estate including single detached homes, townhomes, and apartment complexes.
There is lots of opportunity to get outside and stay active with the nearby Activa Sportsplex.
Lincoln Heights: A well-established neighbourhood, in East Waterloo, the residents range from young families to retirees. There are lots of parks, trails, and greenspace to enjoy and the streets are lined with mature trees.
A friendly neighbourhood with good schools and attracts an active lifestyle. Easy access to the uptown area and the highway makes it convenient to reach all the shopping, dining, and other amenities.
Westmount: The area has a good mixture of old wartime homes and newer and larger luxury homes. It is an exceptional area with unique early-century street lamps and peaceful streets. Situated between the borders of Kitchener and Waterloo, this area is very urban and LRT and walking scores are great.
Beechwood: One of the most desired neighbourhoods, and one of the oldest with homes built in the early 1980s. The homes are good size including well-manicured backyards.
Being centrally located, the area is within walking distance of many popular landmarks in Waterloo, including shopping, restaurants, and universities. It tends to draw in a lot of students who are willing to rent out a room or share living arrangements.
University Downs: This is the perfect area for students seeking a place to rent while they attend university. The area is also very friendly and active with outdoor recreation.
Downtown Kitchener: The downtown definitely lives up to its name. The area is trendy and vivacious but still keeps its old historical vibe with heritage buildings. The variety of condos offers affordable, luxury living.
Uptown Waterloo: There are more than enough condo developments in the Uptown area. Homes are more than 50 years old and bring such a charming atmosphere. There are plenty of amenities and shops within walking distance. A very urban feel, but still gives a warm feeling with honourable schools to attend.
Family-Oriented Areas
Areas that are geared towards families:
Forest Heights: Being further from the downtown area, this is more of a suburban area that is perfect for first-time homeowners and very family-friendly. There are plenty of parks, trails, and greenspace and the schools nearby are all highly regarded.
Forest Hill: Another mature neighbourhood that is central and conveniently located close to the downtown. A quiet suburban area that offers plenty of shopping and other amenities. The area also has plenty of public transit routes.
Laurentian Hills: Another family friendly neighbourhood with plenty of nature, parkspace, schools, and shopping.
Country Hills: Close to large parks this neighbourhood offers plenty of outdoor activity. Plenty of single detached homes, some apartments, and the newer area you can find some townhomes. There are a couple of nice schools in the area as well.
Laurelwood: This large suburban area is divided into three sections. Mostly single detached homes from the 1990s and on, but there are also some townhomes and condos. It is close to some honourable schools and the Westhill Meadows Golf Course.
Affordable Areas
Other desired areas that are less expensive:
Stanley Park: With easy access to the highway this is a desirable area to live, making it an easy commute. This suburb also has frequent public transit and easy access to the LRT.
Heritage: This neighbourhood has lots to offer for real estate. Single detached homes, townhomes, and condo developments surround the area. For the nature lover they can enjoy the Stanley Park Conservation Area.
Chicopee: This area has some mature homes along with newer homes, built as recently as the 2000s with a mix of rental housing. The ski hill is not far to keep you busy in the winter months and this area is quite affordable for such a beautiful neighbourhood.
The investment opportunities are endless in the Kitchener-Waterloo area. With the amount of working class, students, families, and even retirees, there is something for everyone.
If you have any questions about the market or how to benefit from your next investment property, contact us today!