All Forum Posts by: Alexandra Helms

@Dziko Thunde Thank you for asking. Sadly, I remain only an aspiring investor still, haha. Working on my financial fundamentals, namely saving enough free capital to invest. I've gathered more knowledge than I can implement with all the BP content and other materials, lol. I personally don't like the idea of using OPM as is often recommended for people without their own capital. So, it will be a long road for me. 

@Dziko Thunde

Here is a video published by a local agent (though I believe he actually moved out of the area) a couple of years ago that you might find helpful - "https://youtu.be/LPNIl_vLkWc?si=YIvGsOYgpS-buwek"

@Dziko Thunde Thanks for your reply! Full disclosure - I'm a local resident currently actively looking to move away. 

If you have the ability to visit, I highly encourage you to do so! There's nothing like seeing for yourself what Niagara Falls, NY is like compared to Niagara Falls, Ontario. If you're looking to invest your hard-earned money, I'd also encourage you to actually drive through the areas designated as the STR zone. You can find the STR map on city's website. It's worth mentioning the STR regulations are relatively new, and I think some properties currently operating are basically grand-fathered with the old permit, and I don't know if being a new owner one'd be able to get a new permit if it's not in the designated location. But I really don't know, I'm not an agent or a lawyer, so please seek professional guidance, for sure!

Your question of "why such differences" has basically been my rhetorical one for years, haha. The difference is profound in so many ways when you travel across the border! Canadian side always feels vibrant and lively, US side always feels depressing coming back from Canada, not matter the time of the year. 

I think there are many reasons, and some of them that come to my mind (subjective opinion) are:

1. Economy. Ontario is generally a more economically affluent place. I believe Niagara Falls, ON is part of the Greater Toronto metro, and there's a lot more going on there. You have higher population with a lot more economic opportunity. Some folks joke that Ontario is like Canadian California, especially when looking at housing prices. On the other hand, Niagara Falls, NY is a part of Buffalo-Niagara area, which is still struggling to find its footing and grow out of the "rust belt" characteristics. 

2. Weather & Attractions. There are a lot more attractions and things to do on the Canadian side, including things that are indoors. On the American side, you pretty much just have the state park. The main attractions that draw most tourists including the Maid of the Mist and Cave of the Winds are closed for the season. Today, it is 24 degrees and wind chill, and it tends to be colder in the park and cold mist freezes certain areas of it to the point that they're closed for the season as well. Basically, all the things to do on the US side are best enjoyed in warmer months. The city doesn't do much in the winter for residents, let alone the tourists (besides the basics like snow removal). A couple of years back they even cancelled holiday lights traditionally displayed in a large local park. What does it tell you when a city can't afford to put a few structures with colorful lights for the holidays?    

I'd say everything else is the consequence of the 2 points above - the weather and the state of economic affairs influences everything else, including safety, infrastructure, the condition of housing stock, etc. There are, of course, also things like politics and tax policies preventing the New York side from developing its tourism sector to be on par with Ontario... 

I hope this helps! As I said before, I'm just a local resident, and this is just my subjective perspective and opinion. If I did set out to invest in the local area, I would scrutinize the numbers like crazy and be extremely conservative with my estimates. Because when it looks too good to be true, it is. I hope you do get a chance to visit, because despite all things, the falls are certainly a sight to see! 

Hi @Carolina Solorzano! I am only an aspiring investor, but I am a local resident of Niagara Falls, NY and I am hoping I can shed some light on your question about the winters:) I have worked in the tourism industry in the past, my husband still works in tourism. From my experience, this is a very seasonal market. The peak season is during the summer months, between Memorial Day and Labor Day. The winters are, unfortunately, very very quiet. I have taken many walks by the Falls in the winter and there are very few people around. Many local businesses that operate in the downtown area by the state park (including some famous attractions) close for the winter or reduce hours. There are very few visitors starting mid-October and until around April. 

With that being said, I wouldn't dismiss NF just yet. There is also Niagara Falls, Ontario which seems to have a more consistent flow of visitors throughout the year. And you can quite literally walk there from the U.S. side if you didn't forget your passport at home :) Of course, I don't know how much (if at all) this could affect a hospitality business, so I would continue trying to find someone who actually operates an STR here to find out more.