Right now there’s a lot of demand for rental properties housing in Durham Region. So, if you’re thinking about buying an income property or maybe even modifying your home to include a secondary suite, now could be a good time to make your move. That said, there are a few things you’ll want to consider before you get the ball rolling. 

In this blog, we’ll touch on Durham Region’s rental market trends, what the opportunities are for everyday investors, and what you need to know before you enter the market. Let’s jump in. 

What Are The Must-Knows About Durham Region?

First things first, Durham Region is big – really big! It’s home to a wide variety of cities, towns, communities, and of course, residents. With that in mind, any real estate trends happening within Durham Region won’t be one size fits all. While the region as a whole can experience similar market conditions, the nuts and bolts will change at a local level. So, even if one area isn’t the perfect match for your goals, there may be another spot that makes a great fit. 

With all that said, if you’re thinking about making an investment in Durham Region real estate, it’s important to have a knowledgeable expert by your side – more on that later. 

Looking to buy an investment property in Durham Region or the Kawartha Lakes? Check out these other pages from our site for helpful info and insights! 

• Buying a Fixer-Upper: How Much Work is Too Much?
• What Are My Mortgage Options in Today’s Market?
• How to Purchase a Home With a Family Member

Why Does it Make Sense to Invest in Durham Region Real Estate?

Whether you’re a seasoned landlord or haven’t yet made a real estate investment, right now Durham Region is overflowing with opportunity and for more than one reason. 

There’s Strong Growth

One of the biggest factors impacting real estate in Durham Region lately is an influx of relocators arriving from the Greater Toronto Area and other cities in the province. And, when you consider Durham Region’s comparatively lower costs of living, amazing quality of life, natural scenery, and close-knit local communities, it’s not hard to see why people are flocking here. 

With that in mind, as more and more relocators arrive in Durham Region, there’s been an uptick in demand for housing. Although some people decide to purchase a home right away, a lot of incoming residents go for rental housing as they transition into their new neck of the woods. This trend has not only boosted the demand for rentals but also average rates across the area. Right now landlords in Durham Region are earning some seriously impressive passive income. In fact, in some Durham Region areas, average rental costs are close to or even higher than in certain parts of Toronto. 

Lower Upfront Costs

While owning a rental property in Durham Region can help you potentially earn the level of passive income you might expect in the Toronto market, it won’t come at a Toronto cost. Compared to other parts of the province, real estate in Durham Region is fairly affordable. 

These lower upfront costs can help you get into the market sooner. It could also mean having leftover space in your budget for making strategic value-adding upgrades to the property – amplifying your returns in the short and long term. 

Looking for catch-all real estate advice that can help you make a smooth investment decision? We’ve got you! Check out these blog posts. 

• How to Find a Reliable Real Estate Agent
• Is Now the Right Time to Buy a Home in Durham & Kawartha Lakes?
• What Makes a Buyer’s or Seller’s Market?

Ready to Head to The Market?

If you’re thinking about buying an investment property in Durham Region (or the Kawartha Lakes), you’ll want to partner with an experienced, trustworthy real estate team – like us! In any kind of market, choosing the right agent to guide your investment is absolutely essential. 

With more than 175 years of combined experience across our team, we know everything there is to know about local real estate. Whether you’ve got your sights set on condo units, homes with built-in basement apartments, or even commercial developments or farm properties, we’ll steer you in the right direction.

Searching for the perfect place to call home? We can help. Call 905-985-7300 to reach our team or click here to send us an email. 

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