Investing in Rental Properties in Barrie, ON: Everything You Need to Know

Are you thinking of investing in rental properties in Barrie, Ontario? If so, you're making a smart investment decision.

Barrie is one of the fastest-growing cities in Canada and is quickly becoming a hot spot for real estate investors. Barrie is an ideal location for first-time real estate investors because of its strong rental market and many real estate investment properties. It offers a wide range of housing options, from single-family homes to condos, so you can find an investment property that fits your needs. 

Is Barrie a Good Place to Invest?

Barrie is a city located in central Ontario, Canada. The city offers a high quality of life, a reasonable cost of living, and a thriving economy. Its waterfront location offers scenic views and plenty of outdoor recreational opportunities. The city's population is rapidly growing each year, and this has led to a strong demand for rental properties. The demand for rental properties is likely to continue to increase in the coming years, making Barrie real estate a great place to invest.

What to Buy for First Investment Property

When buying your first investment property, it's important to look for properties that are in good condition, located in desirable neighbourhoods, and have a reasonable price tag. You should also consider the size of the property and the number of rooms. A larger property with several rooms can yield higher rental income. It's also a good idea to look for properties that don't require a lot of repairs and renovations. However, do not ignore properties that require some effort. If you are willing to put in the work, you can often purchase these properties at a discount and then renovate them to increase their value.

Investment Properties for Sale in Barrie

There are many Barrie rental properties on the market. The best way to find investment properties is to work with a real estate agent who specializes in investment properties. A specialist will be able to help you find properties that fit your criteria, negotiate the best deal, and provide guidance throughout the process. 

Where to Buy in Barrie, Ontario

Innis Shore: A great neighbourhood for renters, as it offers plenty of townhouses and condos at affordable prices. The area is known for its close proximity to downtown amenities, parks and recreational areas, and waterfront trails along Kempenfelt Bay.

Holly: Another desirable community for renters, with easy access to public transit like Georgian College and Barrie South GO station. Holly is also close to great schools, shops, restaurants and family-friendly activities.

Allandale: One of Barrie's most centrally located neighbourhoods has many new developments and transportation services like the city bus system, making it ideal for those who want easy access to all kinds of activities.

Queens Park: Another popular rental area with plenty of attractions nearby – including stores, movie theatres, gyms and spas – plus amazing views over Kempenfelt Bay and walking trails through the surrounding countryside.

These neighbourhoods offer a mix of detached homes, townhouses, and condos, making them great for first-time real estate investors in Barrie. When looking for rental properties in Barrie, it's important to consider the location. The best locations are those that are in high demand from renters, such as near universities or businesses. Families with young children also tend to prefer neighbourhoods near schools, parks, and other amenities. 

Conclusion:

Investing in rental properties can be a great way to build wealth and create passive income. Barrie, Ontario, Canada, is an ideal location for real estate investors, with a strong rental market, a growing population, and many investment properties for sale. The first step in your journey should be working with a real estate agent who specializes in investment properties in Barrie to help you find the perfect property. Reach out to a Faris Team Representative to help get you started. With some careful research and planning, owning a rental property in Barrie can be a great investment opportunity!

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