Barrie City is known for its conducive environment and availability of social amenities which make it a good spot for homeowners and property investors in Canada. The city has a vibrant economy which attracts scores of investors and those in search of employment opportunities thanks to the growing industrial sector. As such, there is a huge demand for houses and condos have taken the lead as the most sought-after houses many can rent or purchase to call them homes. And with an influx of people in Barrie, the future looks brighter for those looking to invest in Barrie city real estate market while for the homeowners, there is at least something they can smile about given that Barrie condos come at different prices to cater for everyone's needs.
What can you buy in Barrie’s New Condo Market for $ 500,000?
When compared to other parts of Greater Golden Horseshoe, home buyers are likely to get a lot more for their cash within the city. This is according to the report published by the real estate market data analysis company, the Altus Group. The report goes as far as looking at what most Barrie condo buyers can acquire with $500,000 on the average when compared to the ten communities staying across the Horseshoe.
In Barrie alone, home buyers are capable of purchasing a 1,401 sq. foot condominium with 2 bedrooms and a den. Second on the list is the Kitchener where the buyer can afford 1,192 sq. feet for just 2 bedrooms and den then followed by Cambridge with a 1,165-sq foot two-bedroom condo. But in St. Catharines the home buyers can get a 1,143 sq. ft. 2-bedroom condo while in Guelph, the situation is a little different where buyers can settle for 1,102-sq ft. two bedroom unit.
As it seems, millennials have become the driving force in the real estate market after they started settling into family life. However, the report states further that the dynamics of the current workforce are changing rapidly and technology has greatly improved communications as well as creating more opportunities to work in remote areas with more flexible schedules.
This means that most of the millennials who live in GTA have an influence on the flexible working conditions given that the work location is being in close proximity with their residential areas. As a result, there has been a shift toward a certain preference to live in more accessible urban areas. And this is one of the greatest factors that have seen the booming of condominiums in the Great Toronto Area, including Barrie City.
New Condos for sale in Barrie
There are numerous homes, condominiums, townhouses, and commercial properties ready for sale in Barrie and the surrounding areas. This region is part of the vast Simcoe County and has plenty to offer in terms of housing. In fact, Barrie City real estate market features more than 100 housing units that are still under construction. This market has seen a growth of about 5.3 percent year over year. Let's have a look at a few examples of new condos for sales that you can find in Barrie booming market:
LakeVu New Condos
LakeVu Condos is a new project that is set to bring the resort-style living at the skyline of Barrie City in Ontario. The condo is located along the shores of Little Lake and it is expected to be surrounded by downtown Barrie’s most beautiful views. With a mid-rise of ten stories, this development aims at featuring suites ranging from 518-1393 sq. feet. Each suite will comprise of a luxurious kitchen which is modern and custom designed to include stainless steel appliances, tops made of quartz among other features of interest. Their bathrooms are spa-inspired featuring chrome finished hardware, glass shower enclosure, and superior designed vanities.
When it comes to the recreation, the building amenities will have only the best. This means that there will be a fully equipped room for physical fitness and a yoga studio, a party room, media center and rooftop patio with seating and BBQs. On top of that, there is a lot more to do and see in Downtown Barrie including the Country club, parks, Cineplex Cinemas, shops, restaurants and half an hour drive to Wasaga Beach. All these features make LakeVu Condos be the most sought-after new condominiums for anyone who wishes to stay in the urban setup.
For transport, you can enjoy a bus ride to Downtown Barrie Bus Terminal to connect to a number of Barrie Bus routes as well as The Go Transit. Also, you can travel to cottage country and GTA via Highway 400 at your own convenience.
These are new condo projects located at Barrie City. These new condos come with a four-season playground where you can enjoy swimming in summer, biking in spring, skiing in winter and hiking in fall. Additionally, the property experts will find a way for a long term or short term renters when your condo is not occupied in order to help you capitalize on the rental revenue.
When you choose to commute, just know that you can take a twenty-minute drive to Barrie, whereas you will take one hour to drive to Toronto. In this way, you will be able to work in the city and still manage without much of transport problem. Slopeside Condos will also expose you to the exploration of South Central Ontario where you will have a lot to see including the farmers' markets, Casino Rama, Boutique retail shop and Wasaga Beach.
Horseshoe Copeland House
Horseshoe Copeland is the newest condo development project that is located at Horseshoe Valley and Penetanguishene, Barrie. As a new condo in Barrie City, Copeland will be constructed at a desirable location in Barrie and it will have four stories and over a hundred suites with each suite measuring 646-1243 sq. feet.
To wrap up, Barrie real estate market has discovered that condominiums are on high demand after a slowdown in housing prices that was witnessed a few years back. As a matter of fact, this is a win-win situation for both property developers and homeowners looking to invest and settle in Barrie City respectively. As the population in Barrie keeps on growing the demand for condos gets higher and real estate investors are working hard to balance this equation. Finally, the changes in mortgage acquisition and the rise in interest rates have contributed more to this trend making condos to be the most sought-after homes for many people in Barrie City.