Dear All,
I am thinking of buying a vacant land in Ontario.
Do you think it is a good idea for long term investment?
What all things I should keep in mind before investing?
Any inputs will be much appreciated.
Thanks
A
Quote:
Originally posted by aditya2007
Dear All,
I am thinking of buying a vacant land in Ontario.
Do you think it is a good idea for long term investment?
What all things I should keep in mind before investing?
Any inputs will be much appreciated.
Thanks
A
Depends where you are buying. It might go up or not, but one thing good about Canada is that its safe
, NO one will cheat you or encroach upon your land and take it away forcibly through goons, politicians, land mafia etc, like India.So atleast you don't have to worry about that
. Law and order, courts etc are atleast good in Canada, if there is something illegal and unlawful.You might need to see if its a farm zone, green zone or something like that. If any high ways or infrastructure or zoning is planned for the future or not. If any builders are going to move into that area or not. What the population is in that area, how close it is from nearby cities, towns etc.
Huge massive controversial Wind Mills, Big power transmission lines, Cell Phone towers on your vacant land can also negatively affect your price. No one wants live next to them, lot of NIMBY ism in Canada
Also, how many people have already bought in that area. What are the past sales ? How much did it go for in the past ? Whats the year over year, appreciation ? Its easy to find all this out from city records and title search etc in Canada. Things are quite legal and black and white over here, not much grey areas and hanky panky over here
Whether it goes up or not, there is NO guarantee and its a risk you will have to take. High risk , high reward or high loss depends on luck and lot of other external factors, you have NO control over
I think like always with RE , location location location will be the key. 90 % is that, rest all will be only 10 %.
If you get that one thing right in RE, generally you will make money. Not just location as of today, but down the road say 10 yrs from now, you need lot of research, foresight, vision for that , not hard to do thesedays with the power of internet, data warehouses, google analytics.
End of the day go with your gut feeling, not necessarily the advice of so called experts or RE professionals, who often have their vested interest and commission on their mind, and don't really care about your investment.
So do a thorough research and if you think its worth it and can handle the risk, go for it
Location: God's own country
Posted on: 04-09-15 05:15:30
See how the town will grow and how the planners have thought about this.
It may usually be online and is called as " Development plan".
In this, they might list potential services needed like airports, wind mills, industries, Highways planned etc... So based on this only the town will develop.
But donot think that you are the only one who have come up with this idea. The italians already know it and they have booked each and every single plot that comes within this developement in the next 2-5 years. What you can book is the ones that may happen in the next 10 years.
Since I used to work for a home builder, I know all this information. They also bring lands which they want to buy in pieces and combine it to form a whole. As early as 2008, they said that there was no free land to buy in the GTA. All was booked or someone was holding it to develop it later.
Futile excercise, when the Italians rule RE in the GTA.
Murali
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I am a Gents and not a Ladies.
Thanks guys for your important input!
Location: Brampton, Ont, Canada
Posted on: 04-09-15 09:29:28
Check property in Niagara region - its growing
They just build big hospital and one more coming 10 km away - Also Ikea is coming too..
i have noticed lot of migration from GTA to niagara region ... rest you do your research
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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)
@ OP please note that bank do not provide mortgage on land . You have to have CASH to buy a land . Either you can use your LOC OR emergency funds if any .
There are many lots avlbl with in GTA including in middle of Mississauga to buy . Some comes with with all permits etc .
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