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Belleville is a city known for its rich history and strong economy. With such a strong cultural and economic foundation, it is not surprised that the city has become home to many investors who are looking for an affordable place to grow their portfolios – regardless of experience.
The city has spent plenty of time and money in order to optimize the approval process for renovations and new developments in order to build an investor-focused economy that can nurture the city’s growth into the modern era.
However, before we dive into the benefits of investing in the Belleville real estate market, you should click the link below to book a free strategy call with our team at LendCity to discus financing and more.
A Well-Connected Community
Belleville is an excellent city for people who want to build investments within close proximity to other major cities. This city is located on the Bay of Quinte at the mouth of the Moira River. This positions the city squarely in the middle of major municipalities such as Toronto, Ottawa, and Montreal. This allows residents to easily access these major hubs and their infrastructure such as the Toronto Pearson International Airport. As well, the city is positioned within a fair driving distance of a United States border crossing for international travel and transport.
The Belleville real estate market is also positioned along Highway 401, also known as Canada’ Main Street. This means that it is easy for residents of the city to travel to nearly anywhere in Ontario – as well as transfer to other highways for travel beyond the province.
These connections are excellent for building rentals that suit commuters, travelers and people with families spread across multiple cities.
Belleville Real Estate is Great for Distribution and Business
Belleville real estate offers a centralized position is not only good for travel, but it also serves as an excellent place to invest in business real estate that would interact and connect with the nearby markets.
A strong investment that could be built in this region would be warehousing. The prime position along the Quebec – Windsor corridor provides easy access for any products that may be sent by truck. It is also a reasonable distance from the Toronto Pearson International Airport for any products that would require to be flown commercially across Canada or internationally. The city is also located close to Mississauga so products that need to be sent through the mail can also be transported quite easily to the city since many post and courier services have major distribution centers in the city.
Strong Municipal Infrastructure in Belleville Real Estate
Not only is the city of Belleville well connected in terms of provincial, federal and international infrastructure, the city is home to a strong and well-supported network of local infrastructure systems designed to make the city an easy place to live and thrive.
As part of its city planning and neighbourhood renewal inquiries in the 2010s, Belleville’s city officials noticed a need for stronger public infrastructure such as better bus routes and expanded sidewalks and walking paths in order to accommodate the population.
This resulted in new investments being put into these systems and features back in 2020, which to date have resulted in a variety of expanded paths to better suit pedestrians – including those with mobility devices such as walkers, scooters or wheelchairs as well as new busses, shelters and updated bus routes so that fewer residents are required to drive or secure alternative transportation in order to navigate the city.
A Culture of Entrepreneurship
In recent years, many people have ditched their 9-5 jobs in favour of starting their own businesses or starting side-businesses to bolster their income. This is the mindset that many real estate investors share.
Fortunately, this type of mindset is right at home in Belleville. In order to nurture the independent business mindset, the city is home to a variety of business associations, angel investment networks and business mentorship networks.
To further build these businesses, the city offers programs to help independent businesses find talented employees in order to expand their workforce in a productive manor. This serves to minimize the city’s unemployment rate – which means investors need to worry less about tenants suffering sudden job losses and finding themselves unable to recover their income. However, at the time being the city still maintains an unemployment rate of approximately 6.5 per cent which is slightly above the national average, but active efforts are being made to bring the rate back down.
As well, as with many startups and independent businesses, many of these companies will likely not have the budget to buy their own offices, storefronts, or workspaces. That means that as this culture of entrepreneurship grows, business owners will need to rent commercial spaces to operate out of. This means that it is likely that buying these commercial properties or developing new ones in prime locations can be strong investing decisions.
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A Rich Local History
Belleville is a city built upon it’s rich local history. All throughout the city you can find signs and plaques left to highlight the early foundations of the municipality and the hard-working families and industrialists that turned it into the hot spot it is today.
From it’s beginnings as a small town in the late 18th century, Belleville later became home to many hardworking families who sought to make the most of the local landscape in order to expand outward. Notably, the Corby Charitable Fund was started in the 1830s to build the first-ever bridge across the Bay of Quinte in order to improve access across the water. Later on, the fund began to develop parks and public spaces in order to develop a strong sense of community – many of which are still marked and remembered to this day.
Despite growing from a small, humble town of 2000 hopefuls into a booming city of over 58,000 citizens, many of the historic buildings that were developed early on in Belleville’s history are still standing today so that everyone who visits the city can bask in the rich culture of the city’s humble beginnings.
The Belleville Real Estate Market is a Great Location for Beginners
Due to the city of Belleville being located in such a prime location in the center of some of the largest population centers in the entire country, it serves as an excellent hotspot for beginners looking to one day expand their investments beyond their initial starting point.
As well, the cost of housing in Belle is significantly more affordable than housing inside of the major markets that surround the city. For example, currently the average price to buy a single-family home in the Belleville real estate market is estimated to be approximately $546,000 at the time of writing this article. By comparison, Toronto holds an estimated average of $1.1 million, and Ottawa holds an average of $685,000 with even higher prices expected closer to major hotspots in both cities.
As well, the Belleville real estate market has much less immediate competition for properties than what is typically expected in bigger city markets, meaning that you are less likely to need to big above asking price for a property most of the time.
Belleville Real Estate – A City Moving Forward
Belleville is a great example of a city that remembers its roots. With strong examples of the history that built the city we know today on proud display, Belleville is a rich cultural hotspot that attracts families and retirees – both of which are types of tenants that contribute to strong, long-lasting tenancies.
With the Belleville real estate market being so dedicated to its own progress and development, it is no surprise that many investors are eyeing it for their 2023 investments. However, if you want to make portfolio that is designed for growth and long-term success moving forward, you need a mortgage that is built for the same level of progress.
Belleville Real Estate Professionals
We have searched high and low for real estate investing professionals in Belleville. Below, you can find professionals we have researched and can confirm they specialize in working with Real Estate Investors.
To ensure the maximum success in real estate investing in Belleville, or any city, you should always use professionals who understand and work with investors, your income depends on it.
This list may not fully list all the professionals in the area, but the ones we have personally investigated and that we would refer our clients to.
If you’re a real estate professional and would like us to consider adding you to the list, please contact us.
If you are interested in learning more about how you can dive into the Belleville real estate market, click the link below for a free strategy call with our mortgage team at LendCity.