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Real estate is a competitive market. Investors are constantly looking for hidden gems and investment opportunities that have not been snatched up by other investors first.
As a real estate investor in the GTA (Greater Toronto Area), it can be difficult to find investment opportunities that have not already been eyed by buyers poised to make competing offers against you. Many of the GTA region’s top neighborhoods have already been scoured for the best investment properties, and while making a profitable investment is certainly still possible, there will almost always be competition.
Ideally, what you need to find is one of the overlooked non-GTA regions, one that other investors are passing over in favour of their ‘prime Toronto real estate,’ but where should you be looking?
Look Beyond the GTA Region for Overlooked Opportunities
The first thing you should know if you are on the hunt for overlooked real estate is to stop hunting in Toronto and the GTA region. While it is still possible to find a diamond in the rough and make an excellent investment within these cities, you also need to remember that the GTA region is easily one of the most expensive and competitive markets in Canada.
Instead, what you need to do is turn your eyes to the rest of Ontario and Canada. Compared to Toronto and the GTA region, even some of the most popular cities in Ontario are still a relative walk in the park when it comes to finding properties before other investors.
This does not mean you need to stop investing in the GTA region, but you should consider investing beyond it.
Just outside of the GTA region, Hamilton is a blossoming market full of incredible opportunities for real estate investors.
One of the primary appeals of Hamilton is the affordable lifestyle if offers combined with the proximity it has to amenities in the GTA. In fact, it is the closest city to Toronto that is not considered to be part of the GTA, making a natural starting point for GTA investors looking to branch out.
The city is also home to a variety of opportunities to invest in multi-family and mixed-use real estate. With the rapidly growing population in the region, these properties are quickly becoming hot ticket items meaning that if you buy now, there is a strong likelihood that you will receive a significant return on your initial investment.
In 2018, MoneySense Magazine put out a list of the top cities to buy real estate in Canada. While this list featured many expected rankings for certain cities such as those in the GTA region, Brantford made a stand-out appearance on the list as their number one city in Canada – and upon further inspection, it shouldn’t have been a surprise.
Brantford, despite only being one hour outside of Toronto, currently boasts nearly half of the average purchase price of its neighbouring city. At the time of the article, it was one third of the price. This means that if you are an investor looking to expand your portfolio, you are capable of making more investments in Brantford than Toronto at the same price. At the same time, property values in Brantford are noticeably rising, meaning that the potential appreciation your properties will experience will be much greater than in slower markets.
Discover How To Buy Unlimited Rental Properties With This Step By Step Guide
St. Catharines is a renter’s paradise. The city has nearby access to the United States Border, clear access to the highway and a strong public transit system making the city more accessible. As well, St. Catharines recently ranked as the number one city in Canada for labour market performance in the second quarter of 2022. As a bonus, St Catharines is also a beautiful city to live in.
All of these factors create a perfect storm for rental properties. The promise of a strong job market in an easily commutable city is attracting new residents to the city constantly, making now a prime time to strike and begin buying rental properties in order to take advantage of the demand.
Speaking of cities that are well connected, the KWC region is an excellent place to consider investing in real estate. These three communities are so well linked together that it is incredibly common to hear of residents living in one city and commuting to another for work each day with absolutely zero hassle. This makes it a great alternative to the GTA region.
The region is also home to strong job markets and a rapidly growing population. That means the demand for housing is also constantly on the rise – making the KWC region an excellent option for investors looking to jump on an opportunity outside the hustle and bustle of the GTA.
If you are looking for a strong market that is demanding student rentals out side of the GTA region, London is the place for you.
Western University and Fanshawe college have both made large investments into their international student programs which have attracted thousands of students into Canada in order to attend these schools. As a result, the number of students in search of housing has skyrocketed, creating plenty of opportunity for investors.
The city also currently boasts some of the most affordable real estate in the province in a major city, with property values steadily on the rise.
Grow Your Real Estate Portfolio
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