Guelph is an excellent place to call home. Whether you’re a buyer or a seller, it offers plenty of options. With the condo market rapidly growing, this city can provide excellent value with amazing amenities and lifestyle. If you’re in the market for a condo in Guelph, ON in 2023, you may have found the perfect place to invest your hard-earned money.
Life in Guelph, ON
Living in Guelph, ON has plenty of benefits:
- Guelph has an array of entertainment, restaurants, parks, and recreational activities to choose from.
- It is an affordable city to live in, with prices for condos ranging from $400,000 to over $850,000 depending on location, amenities, and style.
- It is close to the Greater Toronto Area (GTA) and is a short drive from Downtown Toronto.
- Guelph has a strong economy with a low unemployment rate of 5.4%, compared to the national average of 6.6%.
- As the seat of Wellington County, Guelph is surrounded by rich agricultural land and is a vibrant trade centre.
Condos In Guelph, ON
Guelph is home to many condo developments that cater to all types of buyers. Condos can range from spacious apartment-style units, to luxurious townhomes and executive suites. Condominiums offer an excellent opportunity to get into the housing market, especially with prices being more affordable than a single family home.
The Guidin Real Estate Group Inc. reports the price of a median two-bedroom condo in April 2021 was around $350,000, with prices ranging from $200,000 for an apartment-style unit to $400,000 for a larger townhome unit.
When shopping for a condo in Guelph, ON, it’s important to consider the following:
- The cost and fees associated with upkeep of the condominium.
- The available amenities in the condo building and in the surrounding area.
- The condominium’s age, size, and style.
- Landlord/ tenant rights and regulations regarding leases, parking, and pets.
- Location and access to amenities, public transportation and other services.
- If the condo is connected to a residential community and what the shared amenities are.
For buyers looking to purchase a condo in the 2023 market, Tony Sousa of The SousaSells.ca Team highly recommends a buyer obtain a pre-purchase home inspection first. This ensures all systems are in working order and any damages are documented, prior to purchase.
Tips On Buying A Condo In Guelph, ON
When purchasing a condo in Guelph, ON, it’s important to consider the following tips:
- Research the neighborhood and surroundings to ensure it is an area you are comfortable living in.
- Speak to the local Real Estate Agent who can provide further information on the condo and the neighborhood.
- Find out what the condo fees cover and what expenses will be incurred as part of ownership.
- If the condo is connected to a residential community, review the rules and regulations governing the conduct of all occupants.
- Speak to a lender and determine the financing that is available and the pre-approval process.
- Obtain a pre-purchase inspection to ensure all systems are in working order prior to purchase.
During the 2023 market, Tony Sousa and The SousaSells.ca Team recommend buyers doing their research and working with a knowledgeable real estate agent to ensure they understand all aspects of the purchase and make an informed decision.
Benefits of Hiring a Realtor When Buying a Condo in Guelph, ON
Hiring a Realtor during the home-buying process has several benefits. A Realtor is knowledgeable in the complexities of the real estate market, and understands all of the processes, inspections, and steps that come into play.
For a condo purchase, Tony Sousa and The SousaSells.ca Team are knowledgeable of the building’s history, maintenance fees, and property taxes. They understand the local market and can advise the buyer on pricing, offers, and negotiations in order to get the best deal possible.
When searching for a Realtor to represent you during the home search and purchase process, Tony Sousa and The SousaSells.ca Team recommends the following criteria:
- The Realtor should be experienced and knowledgeable, and willing to take the time to explain processes and answer any questions.
- The Realtor should be knowledgeable in the local real estate market.
- The Realtor should have a proven track record of successful negotiations and sales.
- The Realtor should be available to show properties and provide insight and advice.
- The Realtor should provide an honest and realistic opinion of the property and ensure the buyer understands the details and the process.
A Realtor can take the stress out of searching and purchasing a condo in Guelph, ON and provide a wealth of knowledge and support throughout the process.
2023: Condos Are A Solid Investment In Guelph, ON
Guelph, ON has truly emerged as a fantastic city for real estate. The 2023 market is expected to continue to be strong, with condos being an excellent choice for buyers looking for an affordable option and willing to do the necessary research. With an array of options from luxurious townhomes to cozy apartment-style units, Guelph is sure to have something for everyone.
The city boasts a strong job market, plenty of entertainment options, and a growing real estate market that makes it an attractive option for many buyers. Hiring a knowledgeable real estate agent and doing the necessary research can ensure buyers get the best possible deal and make sound investment decisions.
FAQs
Q: What is the average cost of a condo in Guelph, ON?
A: The median price of a two bedroom condo in April 2021 was around $350,000, with prices ranging from $200,000 for an apartment-style unit to $400,000 for a larger townhome unit.
Q: What are the benefits of living in Guelph, ON?
A: Guelph, ON has an array of entertainment, restaurants, parks, and recreational activities to choose from. It is also an affordable city to live in and is close to the Greater Toronto Area. Additionally, its economy is strong, with a low unemployment rate of 5.4%, and it is surrounded by rich agricultural land.
Q: What should I look out for when buying a condo in Guelph, ON?
A: When shopping for a condo in Guelph, it’s important to consider the cost and fees associated with upkeep of the condominium, the available amenities in the condo building and in the surrounding area, the condominium’s age, size, and style, landlord/tenant rights and regulations regarding leases, parking, and pets, the location and access to amenities, public transportation and other services, and if the condo is connected to a residential community and what the shared amenities are.
Q: What should I look for in a Realtor when buying a condo in Guelph, ON?
A: When searching for a Realtor to represent you during the home search and purchase process, look for someone who is experienced and knowledgeable, has a proven track record of successful negotiations and sales, is knowledgeable in the local real estate market, is available to show properties and provide insight and advice, and provides an honest and realistic opinion of the property and ensures the buyer understands the details and the process.
Q: Are condos a good investment in the 2023 market?
A: Yes, condos are an excellent and affordable option for buyers looking to get into the real estate market in the 2023 market. With an array of options from luxurious townhomes to cozy apartment-style units, Guelph is sure to have something for everyone.
