Reasons to Invest in Cobourg
Are you looking to invest in real estate in Ontario but not sure where to start? Have you considered communities that lie just outside of the GTA? Ones with that small town feel but access to the amenities a large city has to offer?
Look no further than Cobourg, our charming Ontario town located along the shores of Lake Ontario midway between Toronto and Kingston! We might be biased but, here are 5 reasons why we think Cobourg is a great place to invest in real estate.
Strong Housing Market: Cobourg has a robust housing market. A market that has shown steady growth over the last 15 years and one that shows no signs of slowing down. Area developers are building a record rates and companies from the GTA have set their sites on the town that is known for having a scenic location and great proximity to Toronto. Cobourg is a popular destination for those looking to escape the city while still being within driving distance or within easy access to GO Transit. The demand for family friendly housing in Cobourg has led to rising property values and a an increased population which is what you want when considering your investment city.
Thriving Tourism Industry: Cobourg's stunning natural beauty, rich history, and cultural attractions make it a popular destination for tourists especially in the Summer. Known for its Beach, the Downtown of Cobourg offers several beautiful parks, waterfront walking trails, a board walk, as well as wooded hiking & biking trails a few minutes North. With an expansive Marina, full range of sports and extracurricular activities, Cobourg is the perfect spot for outdoor enthusiasts. The tourism industry brings in a steady stream of visitors year-round, making it an attractive location for investors looking to purchase short term rentals as we have yet to see any STA licensing requirements.
Growing Economy: Cobourg's economy is thriving, with a diverse range of industries, including manufacturing, healthcare, and retail. The town is also home to several large employers, including Northumberland Hills Hospital and the nearby Ontario Power Generation Darlington Station. Given its location, With a growing economy, there are plenty of job opportunities for residents locally as well as within a reasonable commute. Understanding the jobs available in the radius makes Cobourg an attractive hub for anyone looking to own or rent a home!
Great Quality of Life: Cobourg offers an excellent quality of life to its residents. From excellent schools, access to healthcare facilities, and recreational opportunities, it is a safe town with relatively low crime rates. Fresh air, open spaces and the ability to access some form of nature or park within 5 minutes anywhere in town!
Affordable Real Estate: While Cobourg's real estate market is strong, it is still relatively affordable compared to larger cities like Toronto. With a wide range of properties available, from historic homes to brand new modern condominiums, there is something for every budget. At the time this article was published, new construction in Cobourg begins around $425,000. Investors can find excellent deals on properties which will still cash flow, making it a wise investment choice while first-time home Buyers are able to stay within their community, relative to other major cities.
With a strong housing market, thriving tourism industry, growing economy, excellent quality of life, and affordable real estate, Cobourg is a town with a bright future. We believe this. We live this. As a team, we ALL own Cobourg real estate and would be happy to help you do the same.
Book a Call with us to START YOUR MOVE!