If you’re looking to invest in southern Ontario, consider the beautiful city of Waterloo. Offering beautiful views of Canada’s famous Grand River, Waterloo brings in plenty of tourism throughout the year. The city’s tourism industry is also thriving thanks to the city’s robust arts culture, many festivals and lively downtown area.
Table of Contents - Benefits of Real Estate Investing in Waterloo
Whether you’re looking to invest in single-family home, downtown apartment or commercial building, there are plenty of opportunities in Waterloo. Get in touch with a local real estate agent to find out about all the great properties currently available.
Welcome to Waterloo, Ontario
Waterloo, Ontario was officially incorporated on May 27, 1857. Waterloo and the nearby city of Kitchener are sometimes called the “Twin Cities,” because of their close proximity to each other. The population of Waterloo is around 104,986, making it much less populated than Ontario’s capital city, Toronto. Despite being a bit smaller than Toronto, Waterloo offers plenty of fun things to do, which is why the city sees so many tourists throughout the year.
The climate of Waterloo is great for those that love experiencing all seasons. During the summer, temperatures are usually around 25 degrees Celsius, while winter temperatures can drop to around -10 degrees Celsius. Rainfall averages around 974 mm a year, which is a bit more than the rest of Ontario. The city also experiences around 80 days of snowfall per year. While this weather isn’t ideal to some, Waterloo’s climate is actually moderate compared to the rest of Canada.
No shortage of jobs
Since there’s no shortage of jobs in Waterloo, people come from all over seeking employment. These employees are always looking for new homes and other places to stay. Investing in a property near one of Waterloo’s larger employers will assure that you’ll easily find tenants. Waterloo has an especially good job market for those working in the tech industry. Some of the top employers in Waterloo include BlackBerry, Manulife Financial, University of Waterloo and Sun Life Financial. BlackBerry alone employs over 4,000 people!
The current median household income of Waterloo is $72,239 and the city has an unemployment rate of only 6.9 per cent. The is much lower than the national unemployment rate, which is around 7.7 per cent. The promise of job security and good salaries are major reasons that so many people want to live in Waterloo. Good jobs also mean that plenty of people living in Waterloo are able to afford homes.
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Tourism in Waterloo
Though not as large as Toronto, Waterloo still brings in plenty of tourism. This is thanks to its many fun events and attractions. For example, people from all over Canada visit Waterloo in October to attend the annual Kitchener–Waterloo Oktoberfest. It’s estimated that this event brings in close to 700,000 visitors each year, making it the perfect time to promote a vacation rental.
The Kitchener–Waterloo Oktoberfest isn’t the only Waterloo event that pulls in plenty of visitors. The Waterloo Busker Carnival in fall and the Tri-Pride Festival in summer each bring in a multitude of tourists each year. Other popular festivals held in Waterloo include the World Religions Conference, Waterloo Festival for Animated Cinema and many more. With so many popular festivals held in Waterloo, there’s no shortage of people needing a place to stay.
The Waterloo Town Square also brings in plenty of visitors all throughout the year. This area was renovated in 2006 and now features a multitude of amazing shops, restaurants and other attractions. Most of Waterloo already knows and loves the Town Square, so if you purchase property here, it’s sure to go fast. You might even consider buying a property in the Town Square to rent out to a local business.
A prime destination for nature-lovers
Since Waterloo is located right along the Grand River, visitors from all over Canada come to enjoy in amazing kayaking, canoeing and other boating opportunities. Waterloo also offers some of the best fishing options in the area. Campgrounds and local parks are found all over Waterloo, and thanks to its lower population, they’re never too crowded. Popular outdoor attractions in Waterloo also include Lexington Park and Bechtel Park.
One of Waterloo’s most popular destinations for nature-lovers is the Laurel Creek Conservation Area. This area is home to over 100 beautiful campsites, all offering great views of Laurel Creek and its local wildlife. The area is also home to over 4.5 kilometers of hiking trails and multiple picnic areas. Investors might consider purchasing land near the Laurel Creek Conservation Area to use as a possible vacation spot for those that prefer staying indoors at night.
Education in Waterloo
Waterloo is home to and nearby several excellent higher education options, meaning there are always plenty of students looking for apartments. Investors might consider purchasing a rental property near one of these schools, which include the University of Waterloo, Wilfrid Laurier University, Conrad Grebel University College, Renison University College and many more. Students from the universities are always looking for off-campus living options. Consider marketing to students by promoting your apartments or homes at local colleges.
Economic growth in Waterloo
According to recent statistics, the average cost of a home in Waterloo is around $740,103. This shows a major increase from last year’s average housing cost, which was about $568,275. An increase of this size could actually be good news for investors as it shows that property values may continue to grow. If you buy now and property values in Waterloo grow at the same rate, you’ll easily make high profits.
Investing in Waterloo
There are plenty of reasons one should invest in Waterloo. The city is home to many great homes, apartments and commercial properties just waiting to get bought. Waterloo’s many festivals and fun attractions bring in plenty of tourism, making it a great place to invest in vacation rental property. The strong job outlook and potential for economic growth in Waterloo make now the perfect time to start investing. People are constantly moving to and visiting the city. Start planning your investment now, before prices go up.
Real Estate Professionals in Waterloo, Ontario
We have searched high and low for real estate investing professionals in Waterloo. 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 Waterloo, or any city, you should always use professionals who understand and work with investors, you’re income depends on it.
This list may not fully list all the professionals in the area, but the ones we have personally looked into 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.
Waterloo, Ontario, Canada Tour
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