GUIDE FOR 1ST TIME HOME BUYERS ON BUYING PROPERTIES HOMES HOUSES CONDOS IN HAMILTON REAL ESTATE MARKET
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Hamilton Ontario offers a wide variety of housing styles in a vast range of neighbourhood settings. Whether you're looking for the "big city feel" or a quiet suburban getaway, the New city of Hamilton has what you're searching for. The home prices in Toronto vs. Hamilton are a prime reason why 1st time home buyers should look into moving to Hamilton Ontario! Real Estate in Hamilton is still very affordable. The average house price in Hamilton at the end of 2012 was $365,338 while Toronto's average selling price for 2012 was $497,298.
AFFORDABLE COMMUNITIES IN HAMILTON
AVERAGE HOUSE SALE PRICE
In the table above we give examples of four areas (communities) of Hamilton that would be the perfect fit for first time buyers relocating from Toronto to Hamilton. East Hamilton is an area of Hamilton that has noticed some significant real estate price increase in the last year but is still underpriced with the average house price under $200,000!!! In East Hamilton there is plenty of townhomes with very affordable price tags. Some of the complexes are condominiums and while others are freeholds. The apartment condos on Niclaus Drive in East Hamilton still have 2 or 3 bedrooms units selling for under $100,000!!! East Hamilton is the area where Waldi and Margaret started their live journey in Canada 25 years ago, owning their first home in East Hamilton. After all these years, we still believe that this is a fantastic area to start your family life. It is rich in good schools, great shopping, convinient public transportation and easy commuting to Toronto with the new Red Hill Valley Expressway. If you're looking for a single deatched home in East Hamilton, we would recommend the neigbourhood of Rosedale. Please refer to the chart below for East Hamilton's average price as it has changed over a period of 10 years.
Central Hamilton is the most affordable area in the city as far as Real Estate is concerned. With the average price of $162,613, it is something that Torontonians can only dream about! The homes in Central Hamilton's neighbourhoods are mostly older, 2.5 storey single-detached brick. These homes have plenty of character and charm. Recently, many new developments of condo apartments have sprouted in downtown Hamilton. We believe that this area is underpriced with high growth potential. Please refer to the chart below with average home price as it has changed over a period of ten years.
Hamilton Mountain is the most diverse, in terms of price, out of our four recommendations. West Mountain is the most expensive. We highly suggest the neighbourhood of Gourley in this part of Hamilton. In Gourley, even a buyer with specific tastes will be able to find something interesting. There is also the Central Mountain and the neigbourhood of Wellington Chase, which our team has proudly called home for the last 20 years!Wellington Chaseis conviniently located close to schools, public transportation and other amenities such as Limeridge Mall. The East Mountain is also very popular. Please refer to the chart below for the average home prices on the Hamilton Mountain since 2003.
Stoney Creekis the most expensive out of all our recommendations. We believe however, that Stoney Creek is still underpriced with respect to Real Estate. Please refer to the chart below for information regarding average price change in Stoney Creek Ontario in the last 10 years.
First time Buyers from Toronto may also be interested in hearing that Hamilton has been named the fastest growing economy in Ontario in 2012 by the Conference board of Canada. In terms of economic diversity, Hamilton sits at the highest end of the spectrum - home to a multitude of workforce variations. With over half a million residents already, "Steel City" is quickly becoming one of Canada's major cities, and is ultimately one of Ontario's most economically diverse.
Hamilton has also experienced a distinct surge in housing prices, with many neighbourhoods still showing potential for growth. We believe this price increase can be attributed at least in part by the influx of commuters from Toronto. Easy access to the QEW, Lincoln Alexander and Highway 403, it’s no wonder Hamilton is the newest prime location Toronto's workforce has chosen to call home!
Recently, the Toronto-based Real Estate Investment Network named Hamilton the third-best place in Canada for investment! After seeing the population and economic growth skyrocket, the city has been propelled to the top of the list of Ontario Investment Towns. In April, British-based FDI Magazine, owned by the prestigious Financial Times Group, ranked Hamilton as one of the top 10 large cities in North America ripe for foreign investment. Whether it is Hamilton's proximity to airports and good highway access to the American border, or ready access to international rail lines, investors are beginning to take a serious interest in Hamilton. There are countless individuals who are proud to become new Hamiltonians and there is unending future potential for many other residential hopefuls!
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Please contact us if you are interested in relocating to Hamilton. As Hamilton's experts in Real Estate, we will guide you to finding the home and neighbourhood of your dreams!