The Answer Just Might Be 'Yes' - I began analyzing real estate around King Street West and Victoria Avenue about three years back, when I started working in the Tech Community. I realized that I had just been pulled to the downtown core to live closer to work, despite really wanting to live there. The handful of break-ins that my colleagues encountered during my first few months downtown didn't help my reluctance. At that point, I had two realizations: A) the neighbourhood was a little rough-around-the-edges and still growing, and B) the tech community drew me in, and like how it drew me in, it would continue to bring high-tech professionals to the downtown core. My conclusion? An incredible real estate investment opportunity was brewing.
Tech Is Changing the Market - At that time, real estate in the neighbourhoods surrounding King and Victoria was near or below the $200,000 price level. It seemed that the lowest-priced homes in Kitchener-Waterloo were right under my nose. The homes were nearly a century old and a little unkept, but hinted that they could become very charming with some improvements. Meanwhile, Desire2Learn was growing, Thalmic Labs and Vidyard were acquiring office space and closing financing rounds, Communitech was grooming hundreds of startups, Breithaupt Block was filling up, Google was planning to more-than-quadruple its size in town, and the City of Kitchener was investing heavily in revitalization. I could foresee that the appreciation of real estate around King and Victoria would become very generous. That's why I dove right in. I invested in a near-$200,000 home within striking distance of King and Victoria last summer.
My prophecy at the time was an obvious one: low-priced romantic century homes would be retrofit to suit the tastes of highly educated and high-income-earning tech professionals who wanted to live close to work and save time from having to commute.
Opportunity for 250% Growth in Less Than One Year - You read that correctly. I am writing this article about one of those near-or-sub-$200,000 homes near King and Victoria that was listed and sold last spring and is now on the market for 250% of its last asking price. To the real estate investors reading this, the prophecy is coming true and now is the time to wake up to what is happening in Downtown Kitchener. Tech is here to stay in Downtown Kitchener and is certainly causing a ripple in the real estate market. Tech pros would rather be building great tech than travelling to and from work: they want to live close to work. Because of this, the neighbourhoods surrounding King and Victoria are fantastic for real estate investment, and opportunities do still exist: I visited a home yesterday that is priced very close to $200,000. What will its worth be 12 months from now after it is improved? I don't know, but I would certainly bet that it will destroy the market average growth rate. Will it earn 250% growth? I believe that it has the potential to do so, given the current shift in Downtown Kitchener.
If you are as excited about opportunities like this as I am, then we need to discover Downtown Kitchener together. I hope that I have shed some light on the single most exciting opportunity in real estate investment in Canada. With examples like the one that I've highlighted, I hope it becomes clear for you why Downtown Kitchener now such a strong reputation for real estate investment.
Meet me here: www.techcommunityrealestate.com