Suppose you’re one of the increasing numbers of people interested in real estate investment in Canada, and you’ve got a little extra money to invest. In that case, you can’t do much better than British Columbia, where the real estate market is incredibly strong—and expensive. Thanks to exciting new development projects in various industries throughout the province, British Columbia is quickly gaining speed as one of the most desirable real estate markets in Canada. An extremely diverse economy contributes to several opportunities for those hoping to make their fortune in real estate.
Table of Contents - Best Places to Invest in Real Estate in British Columbia 2020
No matter how you’d like to develop your portfolio, there are ample places to do so in British Columbia. You just have to know where to look.
Vancouver, British Columbia
Most real estate investors will start their home-buying search looking in the province’s biggest city: Vancouver. With a population north of 675,000 (and growing), there is plenty of opportunity for great deals. The issue with finding a great investment opportunity in Vancouver is knowing which neighbourhoods to scout.
In Vancouver, the term most commonly used to describe emerging neighbourhoods is an energy hub. In the past, the term “gentrifying” was the most popular term to describe an investment-worthy community. That’s no longer a broad enough (or accurate enough) term to describe a good investment opportunity. Instead, an “energy hub” is a community that is seeing an influx of new people and a revitalization of the local economy. To pinpoint an energy hub, make sure to look for neighbourhoods that skew younger and offer plenty of opportunities for nightlife.
By that definition, Mount Pleasant and False Creek shine brightly as possibilities in the Vancouver area. If you’re interested in something that has a bit longer odds, check out the Hastings Corridor. While this neighbourhood doesn’t have the hippest reputation, it’s smack dab in the middle of the city and surrounded by some of the most popular communities. Perhaps that’s why several significant developers are purchasing property throughout the Hastings Corridor.
Novices should consider going rural
When you first break into the real estate investment market, you no doubt have lofty long-term goals. After all, who doesn’t want to ascend to the heights of real estate domination by erecting a massive high rise in the city center? That’s admirable, but jumping right into commercial real estate is impossible for the vast majority of people. Most first-time investors don’t have the experience or capital to jump into the deep end. Indeed, when you search for even modest residential real estate investment opportunities in the city center, you may find good properties coming up short.
That said, where you might see a problem, there is an advantage. As a result of the novel coronavirus, more and more people are moving out of densely-populated cities and into the surrounding small towns and suburbs. They’re searching for more space and bigger rooms for a discounted price. Fortunately, the rural areas of British Columbia offer both of those in spades. Even better for novice investors, the cost of real estate properties is much easier to handle.
Kitimat, British Columbia
When it comes to real estate investment opportunities in Western Canada, they don’t get much better than Kitimat. This is thanks to a new liquefied natural gas pipeline sponsored by LNG Canada and two Canadian oil companies. The construction of the pipeline is proceeding with support from all 16 of Canada’s First Nations tribes; as a result, a lot of the negative publicity often associated with pipelines has been avoided in this new project.
What’s more, the pipeline promises to train new employees and bring a host of other oil-and-gas friendly businesses along with it. That means more jobs and more people are coming to Kitimat. It’s time to find the right place for your real estate investment.
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Terrace, British Columbia
All the people moving to Kitimat will need food to sustain themselves. That’s where the neighbouring community of Terrace comes into play. While Kitimat focuses on industrial development, Terrace is transforming into a massive agricultural and technological zone. One company is in the process of a $100 million development deal at the city’s industrial park. Commercial real estate in particular is doing well. In the last few years, building permits for commercial dwellings have jumped more than 300 percent.
Of course, Terrace brings more to the table than its vast tracts of land. The city also has an airport and several retail options for families at every income level.
Abbotsford-Mission, British Columbia
An investment in the Abbotsford-Mission area is an increasingly sure bet, partly as a result of the exodus from Vancouver and partly because of the city’s impressive infrastructure. On the residential side of things, detached homes are selling for upward of $850,000 and growing. If you’re interested in commercial real estate, you’ve hit the jackpot in Abbotsford-Mission. The province’s industrial vacancies are among the lowest in the nation. The city is also a massive agribusiness hub. As the unrivalled agricultural center of Canada, the Abbotsford-Mission area produces three times more farm receipts than its second-closest competitor (the Niagara Region).
If you want to get in on the business side of real estate, Abbotsford is the place to begin your search.
Vancouver Island, British Columbia
If you’re located in the western part of the country and want to dive into the vacation rental property game, it’s time to check out Vancouver Island. This beautiful stretch of land is home to quaint European culture and vast areas of natural wonder. Tourists from all over the world come to Vancouver Island to take a break. Whether walking through the woods in hopes of spotting a native black bear or setting out onto the Pacific Ocean in search of whales, there’s an incredible amount to do while visiting Vancouver Island.
Since the rest of Western Canada is on the rise, it’s only natural that people will inevitably want to celebrate their economic good fortune with a vacation.
As long as you focus on properties that fit within your budget, British Columbia has plenty of investment opportunities for every investor experience level and budget.
Real Estate Professionals in British Columbia
We have searched high and low for real estate investing professionals in British Columbia. 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 British Columbia, 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.
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