Ken Caldwell

As the cost of a university education continues to skyrocket many parents as well as investors are eying the McMaster Universitystudent rental market. Rental fees average approximately $5,000 per year for each student, with many student houses having five or six rooms. With an adequate down-payment, a parent, or parents group could easily buy a residence and have their son/daughter live in it for 4 years, while their mortgage is paid by the other renters. At the end of the four years, they will have reduced their mortgage, had their child's stay at university subsidized, and should have a nice appreciation on the value of their home. The average home price in the Westdale neighbourhood in 2006 was $229,995 last month the average price of homes sold in the same are was $295,514.

In my opinion the west end of Hamilton is going to be the best area in Hamilton to invest. The area itself is landlocked with no where else to build. There is terrific interest from investors because of the University rental demand. Add to this the area is home to two of the largest employers in the Hamilton area; McMaster University and Hamilton Health Sciences. But the icing on the cake from the point of view of investing is the McMaster University Innovation Park when the park is finished it will be home to over 3000 high paying jobs, many of whom will want to live in the west end of Hamilton near their work. The area around McMaster is also one of the most desirable areas in Hamilton because of the mixed architecture, old trees, shopping and a huge park/trails system, so the demand will always be high for real estate.

If you would like to learn more please contact me through kencaldwell@royallepage.ca

I was talking to a potential client from Toronto, about house prices in the Hamilton area, and how there are still some great deals to be had in the Hamilton area. His response was that in Toronto, all his friends were calling Hamilton the "new" Burlington. That although Burlington prices were still better than Toronto, for an extra 10 minute drive, the amount of house one could buy was so much better. So for those who do not need to be in their Toronto office every day, those who can do much of their work through the computer in their home offices Hamilton is an attractive option. With Toronto a 45 minute drive away from West Hamilton it seems many are giving up the hectic over priced lifestyle of Toronto for Hamilton. I thought it might be interesting to give you a sampling of the homes that can be bought in Toronto and a comparable listing in the Hamilton area:

Check out a Million dollar home in Toronto:

In Hamilton:

$500.000 home:

$250,000 home:

For the amount of house that you can get for your money it is no wonder Hamilton is getting greater recognition as a place to move to... Ken