New & Pre Construction Condos In Oakville
New & Pre Construction Condos in Oakville
Oakville is a lakeside suburban community in the Halton Region, GTA. Although it started as a simple community, it has thrived, and it’s now one of the most family-friendly areas in Canada. It was even voted as the best place to live in Canada by MoneySense Magazine, beating more than 145 other locations selected for this recognition. This is just one of the many awards it has received for its high standards of living. Due to the town’s family-friendly feel and the exponential growth in different sectors, real estate is thriving as developers see the potential it holds. Townhomes, condos, and commercial properties are on the rise in other neighbourhoods of Oakville.
As the town continues to grow, there’s a need for more and better housing, and this is why condo developments make up a large part of the booming real estate market. As an investor, you should take the current opportunity to invest in new or pre-construction development in Oakville as this waterfront town has a great future.
Dive in to see why the town is an excellent choice to invest in.
Why Should You Invest in Oakville Real Estate?
Economy
Oakville is home to over 8,000 businesses, which are to thank for the town’s growth and high employment rate. Some of them include pharmaceutical, automotive, technology, aerospace, tourism, and life science companies. It’s also home to the head office of some renowned companies, such as Tim Hortons, Siemens, Ford Motor, and more.
Due to the high number of companies and businesses, Oakville’s unemployment rate stands at 6.4%. By 2031, the area is expected to have 128,000 more jobs, which means a better economy and a bigger market for condos. As a real estate investor, the town’s continuous growth in economy presents an excellent opportunity, and you should take advantage of it. Invest in Oakville’s pre-construction condos today and stand to benefit from its growth.
Educational Institutions
Oakville has an excellent reputation in terms of quality education, which stems from its top-tier educational institutions. As a resident, public, private, and catholic schools are all within most developments’ vicinity. Some of the schools in Oakville include St. Thomas Aquinas, Appleby College (one of the only schools in the country to be part of the G30 schools), and Sheridan College main campus, which has over 53,000 students enrolled in various programs.
The vast number of elementary, secondary, and post-secondary institutions makes Oakville a favourable place for families. As more families move into the town and more students enroll in its prestigious colleges, the demand for condos increases. Invest in pre-construction condos today, and benefit from the growing demand.
Attractions and Entertainment
Oakville is one of the most naturally attractive towns in the GTA. There are green spaces, creeks, waterfront promenades, and beautiful gardens. The natural spaces make great spots for explorations and relaxation for the residents. There are also parks and fun places for kids and the rest of the family, including Coronation Park, Amazing Adventures Playland, and Lion’s Valley Park.
If you’re looking to catch a movie, the Winston Churchill entertainment area has a modern movie theatre. For more involving fun and entertainment, Dave and Busters have adult arcade games and Canada’s first indoor skydiving, Ifly. Oakville is also home to some fantastic golf courses.
Due to its diverse community, Oakville holds many festivals and celebrations throughout the year, including the Waterfront Festival, Canadian Open, Midnight Madness, and Kerrfest.
Other Amenities
Apart from schools, parks, and golf clubs, Oakville has other everyday urban amenities, including large shopping centres, restaurants with a range of cuisines, government offices, and extensive transit systems. Some of the shopping malls in this town include Oakville Place, South Oakville Centre, Bronte Village Mall, Upper Oakville Shopping Centre, and more. All the amenities are a short walk or drive from major condo developments.
Average Condo Price for Oakville in 2021
As Oakville continues to attract more residential real estate developers, condo prices are increasing rapidly at a rate of 8.6% per year. Currently, the average price for pre-construction condos is approximately $450,000. The price for specific condo units varies as per developer, floorplans, and location of the development.
The average rental price for condos in Oakville is $2,300, and it’s steadily rising due to demand.
Contact our real estate investment experts to learn about specific condo projects and their pricing for different types of suites. Now is the best time to invest and start benefiting through capital appreciation.
About Oakville
Oakville is a vibrant town in the Halton Region of the GTA. It’s located west of Mississauga, close to Lake Ontario. The town is 30 minutes away from downtown Toronto, and close to other cities, including Milton, Hamilton, and Burlington.
The family-friendly ambiance of the suburban town has seen the population grown fast over the past decade. According to its last census in 2011, it had a population of 193,832 residents. Currently, Oakville is estimated to have 217,420 residents, working with a 1.98% population increase per year. The community is diverse, with residents from all over the world, making it an excellent neighbourhood to raise a family.
Like most parts of the GTA, Oakville is undergoing massive revitalization through its Livable Oakville Plan. Most of the town’s growth is emanating from six areas, i.e., Palermo Village, Kerr Village, Downtown Oakville, Uptown Core, Bronte Village and Midtown Oakville. Several condo developments are already complete in these areas, and more are in pre-construction and planning stages. Transit systems, shopping centres, schools, and other amenities are also on the rise to provide products and services to the increasing population.
Oakville is a beautiful neighbourhood to reside in, and this is why reputable developers are establishing themselves in the area. As an investor, you should take advantage of its growth and invest early to benefit from property appreciation. Contact us, and we’ll help you pick the top new or pre-construction condos in Oakville to make your investment.
Accessibility / Getting Around Oakville
Whether you’re travelling to different areas within Oakville or to other parts of the GTA, there are several convenient means of transport to choose from. Three major expressways serve the people of Oakville, and they connect them to the rest of the GTA, i.e., Hwy 407, QEW, & Hwy 403.
Go Transit Authority offers transit services at Bronte Station and Oakville Station. The two stations connect to the Lake Shore Line, providing residents with reliable commutes to Toronto, Hamilton and other areas. Go Transit also provides bus services in Oakville, creating a more convenient travelling experience to different regions. VIA Rail is also available at the Oakville Station, connecting residents to Windsor, Kingston, New York City, London, Montreal, and other locations.
For those who love walking, jogging, or cycling, Oakville has lots of on and off the road paths and trails. Residents have many ways to explore the town and all its beauty and to access amenities.
With such extensive transit systems and trails, Oakville and its condo developments are easily accessible. This makes it a perfect town for families, students, young professionals, and other individuals looking to live in a vibrant, family-friendly neighbourhood.
FAQs
What are the benefits of investing in pre-construction condos?
Investing in pre-construction condominiums is regarded as one of the best real estate investments as it presents many benefits to investors. First, pre-construction condos have a lower purchase price compared to detached or semi-detached homes. For example, in Oakville, it’s almost impossible to find a detached home under $1 million. On the other hand, you can find a condo at less than $500,000.
Another benefit of investing in pre-construction condos is that you have a lot of time to pay your deposit, which is about 5% of the purchase price—Developers breakdown deposits into smaller payments, which investors can pay with ease.
To learn more about pre-construction condos and why they are an excellent investment opportunity, contact our real estate investment experts.
Do I need a real estate agent?
Real estate agents are aware of every current and future pre-construction condo. They have platinum access to developments, and this is beneficial to investors. With platinum access, you can access the best units and floorplans at the best prices before sales are open to the public. The process of investing in condos can also be complicated and confusing, especially for first-time buyers. With an experienced real estate agent by your side, you’ll have access to more information on developments and developers, and they’ll help you make the right investment. It’s also advisable to involve legal representation in your investment processes.
Does Tarion protect my deposit?
When you sign the Agreement of Purchase and Sale (APS) and make a deposit to your developer, Tarion will protect the funds. Tarion covers up to $20,000 for condo deposits. However, it’s good to note that Tarion does not safeguard any deposit made before signing an APS. You should seek legal representation before signing any documents and ascertain that your funds will be protected.
