Table of Contents
Located in Southwestern Ontario, Chatham Ontario is a city known for its rich history and diverse, welcoming community. This rural community is located in a great position with easy access to major markets further north as well as the American border to the south within a two-hour drive in either direction.
This municipality is actually an amalgamation of the towns of Blenheim, Chatham, Dresden, Ridgetown, Wheatley, Wallaceburg, and Tilbury. These towns formally came together in 1998 and since then have been known as Chatham-Kent. This area is now home to an estimated population of approximately 108,000 residents.
While Chatham-Kent real estate offers a very humble lifestyle and quiet community, this is often a very beneficial thing for real estate investors looking to build steady, reliable investments to help them create passive income and cash flow. So, if you would like to learn more about how this city can help you increase your cash flow and build a stronger investment portfolio, continue reading.
However, before we dive in, if you would like to learn how to finance your investments into the Chatham-Kent real estate market, click the link below to book a free strategy call with our team at LendCity.
Old Properties Make Strong Flips in Chatham-Kent Real Estate
One of the main charms of life in Chatham-Kent is the fact that the city is packed full of old properties. This provides a comfortable, rustic charm that can be quite enjoyable for residents. However, the problem with this is the fact that many of these old properties have key flaws and damage from years of wear and distress. Fortunately for investors, that means that there are plenty of properties in the city that are prime for flipping.
Of course, going into 2023, you may wish to be careful when flipping a property for a few key reasons. First, the market is currently on a downturn, and it is not clear when property values are going to rebound just yet. That means that if you are not careful, the current downward trend may eat away at your profits when you are ready to sell. Ideally, now is the time to buy affordable flips and slowly work on them to then make the sale after the market comes back around to experience the maximum return value.
Understanding the Chatham-Kent Real Estate Market
One of the main things that the Chatham-Kent real estate market is known for is its affordability. Not only does the city boast a low average cost of living with grocery, transportation and entertainment options sitting reasonably lower than other parts of the province, but the real estate market is also affordable for investors and homebuyers alike.
Affordable Property Values
If you were looking to buy a single, detached home in the Chatham-Kent real estate market, you could expect to spend approximately $385,000 at the time of writing this article. Compared to most of the province, this price is an absolute bargain that cannot be passed over. Compared to the previous year, home prices are currently down by approximately 13-14 per cent. Of course, this drop is not due to a lack of faith in the market, but instead a by-product of the Ontario real estate market taking a hit throughout the battle against rising inflation.
A Manageable Rental Market
The estimated average rental cost for a two-bedroom apartment in Chatham-Kent is currently about $1500 per month. This is a fairly affordable price, especially once compared to other markets of a similar size. Normally, such low rents can cut into the cash flow a property generates. However, since the cost of housing is so low in the city, cash flow is often better in Chatham at the current rental price than in other cities with similar rents but higher property values.
Discover How To Buy Unlimited Rental Properties With This Step By Step Guide
Life in Chatham-Kent
Since Chatham-Kent is largely a rural area, the lifestyle in the city is relatively lowkey. Instead of massive tourism attractions that draw people into urban centres, the area has a strong focus on its natural spaces on order to attract people into the city and provide recreation.
Notably, there are two provincial parks in the region – Rondeau Provincial Park and Wheatley Provincial Park. These parks offer beautiful green spaces as well as incredible campsites, hiking trails and nature-based activities throughout the year.
In downtown Chatham, there are a handful of notable attractions to note. First, there is the Chatham Capitol Theatre, a historic theatre that hosts a variety of live performances, events, and attractions. There is also the John D. Bradley Convention Centre at the site of the old Wheels Inn. This centre is used to host events and gatherings such as conferences, trade shows and weddings. Then, there is the Cascades Casino which opened in July 2019 which offers a professional and well-maintained gaming environment for those who would enjoy it.
Finally, there is also the annual Retrofest, a classic car showcase hosted by the Historic Downtown Chatham BIA and the Kent Historic Auto Club. This event among many others draws hundreds of classic car enthusiasts to the downtown core to show off their prized vehicles and has helped the city earn its reputation as the “Classic Car Capitol of Canada.”
Chatham-Kent Real Estate – Making Investments in the Maple City
Chatham is an excellent place to live for renters looking for a quiet yet entertaining place to live. It is also a great investment market for investors who wish to invest in something stead and reliable instead of something too exciting with higher levels of risk such as Toronto real estate.
However, regardless of how quiet and manageable the market may be, it is always important to make sure you are getting the right financing for your investments. That is why at LendCity we work hard to bring you the best financing option from the best available lender for each of your investments so that you know you are getting the best product every single time.
To get started with us today, simply visit us at LendCity.ca or give us a call at 519-960-0370 to book a consultation with a member of our team.
Chatham-Kent Real Estate Professionals
Here is a list of real estate professionals that service the Chatham-Kent real estate market.
You can also click the link below to book a free strategy call with our team at LendCity.