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Along the Grand River, Cambridge Ontario is a city known for its beautiful sights, rich culture and thriving business landscape. As part of the famous Technology Triangle, the Cambridge real estate market is booming for working class Canadians and entrepreneurs alike, thus making it a prime location to begin investing in real estate in the new year.
This city is home to a population of approximately 130,000 Canadian residents and has an economy built to provide entertainment, accommodations, and services to many more year-round as the city benefits from the strong local tourism and connected business mindset that drives the Waterloo Region. As well, it is one of the cities in Ontario primed for expansion over the next decade as newcomers and the growing domestic population all begin to search for housing.
So, if you are interested in hearing about how Cambridge may be the ideal spot for your future real estate investments, keep reading and let’s explore how this humble city is secretly home to rich, diverse investment potential.
So, if you are interested in learning more about how you can begin investing in the Cambridge real estate market today, click the link below for a free strategy call with our team at LendCity.
Culture and Creativity
Cambridge is a city well-rooted in its culture and history. Prior to the city’s establishment in 1973, the area was once comprised of the municipalities of Galt, Preston, Hespeler and Blair as well as surrounding townships. While these towns are now united under one name, they each had their own unique culture and community, a fact which is beautifully represented in modern-day Cambridge.
The city is also home to various cultural events that help make the area come to life year-round, providing both entertainment for the locals and tourism opportunities for those who wish to take part. Notably, the Rock the Mill music festivals and the Mill Race Festival in downtown Galt as well as the Cambridge Highland Games each July are events that bring people out in large numbers to engage with the community.
Understanding the Cambridge Real Estate Market
Now, before you can begin exploring and investing in the city it is important to get a clear picture of the Cambridge real estate market and why you should strike while the market is cooling off, because it is not expected to stay cool for too long.
Relatively Affordable Housing Prices
At the time of writing this article, the average purchase price for a detached home in Cambridge is estimated at over $815,000. While this price may sound steep when compared to cheaper markets, you need to remember that Cambridge is located within 100 kilometres of Toronto and has incredibly affordable housing prices when compared to its neighbour.
As well, the current prices in Cambridge are dramatically lower than the prices investors would have been paying as recently as February 2022 when the Cambridge Association of Realtors reported an average of over $1,147,000. That’s an average of at least $300,000 in savings compared to last year.
However, the real estate market in Ontario is projected to rebound after the current fight against inflation ends, so prices are anticipated to rise again – spelling equity and appreciation for the investors who are ready to get started now.
Cash Flowing Rentals
In the meantime, the average rent in Cambridge for a two-bedroom unit is approximately $2300. That leaves plenty of room to not only pay your property expenses but turn over a reasonable amount of cash flow on worthwhile investment properties as well.
Discover How To Buy Unlimited Rental Properties With This Step By Step Guide
Low Vacancy and Turnover
Vacancy rates and turnover in Cambridge are currently quite low, which is very advantageous for investors looking to build a reliable and sustainable form of cash flow through real estate. Throughout 2022, the average vacancy rate in Cambridge sat close to two per cent, just below the average recommended vacancy rate in Ontario in order to provide enough room for people to move and new residents to find housing easily.
While this does spell difficulty for renters who want to find new homes, it does drive down turnover, making the cash flow much more reliable for investors who buy rental properties.
Leveraging the KWC to Invest Further
Cambridge is part of the famous ‘Technology Triangle’ of Kitchener, Waterloo, and Cambridge. Often affectionately referred to at the KWC, this region is one of the most directly connected communities in Ontario and as a result, one of the best things that investors can do when looking at the Cambridge real estate market is to properly value and plan around this interconnectivity to make their own properties more valuable.
For example, since many of the residents of Cambridge work in Kitchener or Waterloo – and vice versa – properties located near public transit systems between cities are highly valued amongst commuters and residents with families in neighbouring communities.
By this same logic, Kitchener, Waterloo, and Cambridge are often interchangeable markets, with investors scouring all three for properties as opposed to simply one due to how closely connected they all are.
Cambridge Real Estate – Creative Investing in a Creative Market
The Cambridge real estate is a distinct and creative market that is excellent for investors who want to get started in a business-focused, well-cultured market, as well as investors in Kitchener and Waterloo who want to expand while retaining the same benefits of a connected city that their existing investments already hold.
Similarly, you want to make sure your mortgage financing is creative, well-connected, and focused on your business and investment goals. That is why at LendCity we strive to help investors such as yourself to secure the best available financing from our network of experienced, professional lenders every single time so that your portfolio can grow reliably and sustainably for years to come.
If you are ready to get started or would simply like to learn more about Cambridge and your options as an investor, visit us online at LendCity.ca or give us a call at 519-960-0370 to book a consultation with a member of our team.
Cambridge Real Estate Professionals
Here is a list of trusted professionals that service the Cambridge real estate market.
You can also book a free strategy call with our team at LendCity using the link below.