Thoughts on Port Credit, ON?

[Paul Neagle]

Hey everyone!

Newbie to BP and REI looking to start my REI journey this calendar year if possible. Looking forward to networking with you!

I've been mostly looking at student houses/MFHs in maybe the Windsor /Hamilton/Sudbury regions (GTA is way out of my budget), however a friend mentioned the huge investment work going on in the Port Credit area. Looking into it there's a large development of condo's to be ready for 2023 - with the transport hub to the GTA, upcoming Hurontario LRT, lots of Mississauga growth as well as seeing average SFHs selling for $1m+ - could be potentially a decent return.

Condo's, especially new builds, haven't really entered my mind due to the lower CoC/higher HOA fees and not seeing any short term ROI as it's a pre-construction, however the potential appreciation is giving me second thoughts and would like to know if anyone is looking to/has invested in this area, or what your opinion is on the potential growth? Is this a strategy you would also recommend for a new investor?

Thanks in advance! 

[Hai Loc]

Port Credit it an A class area.. Its not up and coming.. its already established..

I wouldnt in these times bank on any investment based on appreciation.. rental market already took a hit across the GTA 10-20%.. the ratios are were already bad and now Covid made it even worse.. 

The numbers need to make sense now not on completion.. Projections can get you in trouble..