As the second-largest country in the world, Canada can be intimidating to both buyers and tourists. Between the vast expanses of natural attractions, historic cities and bustling cosmopolitan centers, it’s hard to decide on where to invest in a home or vacation rental in the Great White North. But it’s no wonder that this country has been attracting foreign investment for years now.
2019 research by the Canada Mortgage and Housing Corporation (CMHC) found that the country is one of the most attractive destinations for international buyers of vacation homes. Why? Among other things, because of the wide range of affordable housing options, excellent quality of life and stable economy. This article takes a look at six of the best cities to buy a vacation home based on factors like affordability, rental demand and quality of life.
1. Toronto
Toronto is one of Canada’s largest cities and one of the greatest destinations to travel to in the country, full of amazing architecture and attractions such as the city’s museums and parks. It is also famous for its beautiful lake scenery with much of the city straddling up against the magnificent Lake Ontario.
Forbes once described Toronto as “lying at the economic heart of one of the world’s wealthiest countries”. Vacation home or property investments, especially those on “soon to rise” status like the Forma Condos, has remained solid. Fueled by factors like high rates of employment, rising income and lower interest rates, the city has a strong economy and is constantly growing.
The city is also full of cultural attractions and activities. According to Precondo, a popular site and expert in cataloging all new condo predevelopment based in greater Toronto, accessibility, mass transit and walkable areas are some of the factors you need to seriously consider so you can find the perfect place for your vacation home. Overall, Toronto is an excellent choice for those looking to buy a vacation home in Canada. The city has much to offer tourists, including a strong economy and beautiful setting.
2. Vaughan
Vaughan is a city in Ontario, Canada, about 32km north of Toronto. It is the fifth-largest city in the Greater Toronto Area with a population of over 306,000. Vaughan is a city in Ontario, Canada that is known for its affordable housing and proximity to Toronto. Vaughan is a popular destination for families and young professionals who are looking for an affordable place to live. The city has a strong economy and is home to many businesses.
Vaughan is also a popular destination for tourists. The city has many attractions, including Canada’s Wonderland theme park and the Vaughan Mills shopping mall. Vaughan is an excellent place to buy a vacation home. The city has a strong economy and is close to many attractions. The city is also relatively affordable, making it a great option for families or young professionals.
3. Etobicoke
Etobicoke is a great city to buy a vacation home in Canada. It is located in the province of Ontario and is a part of the Greater Toronto Area. Etobicoke has a population of over 300,000 people and is a growing city. It is a great city for investors because it is close to Toronto.
It is also close to Niagara Falls, which is a popular tourist destination. Etobicoke has many parks and green spaces, as well as a variety of shops and restaurants. Etobicoke is also a safe city. It has a low crime rate and is ranked as one of the safest cities in Canada. Overall, Etobicoke is an excellent city to invest in for a vacation home.
4. Mississauga
Mississauga is a great city to buy a vacation home for several reasons. For starters, Mississauga is located in the Greater Toronto Area, which is one of the most populous metropolitan areas in Canada. This means that there will always be a high demand for vacation homes.
Another reason to buy a vacation home in Mississauga is its proximity to Niagara Falls. Niagara Falls is one of the most popular tourist destinations in Canada and it is only a short drive from Mississauga. This makes Mississauga an ideal location for those who want to rent out their vacation home to tourists. Mississauga also has a lot to offer in terms of amenities and activities. There are plenty of restaurants, shops and attractions in the city.
And, because Mississauga is located on Lake Ontario, there are also many opportunities for outdoor activities such as swimming, fishing and boating. Overall, Mississauga is an excellent choice for those looking to buy a vacation home. It has a lot to offer in terms of location, amenities and activities.
5. Oakville
Oakville is often cited as one of the best cities to buy a vacation home. It is located in the heart of wine country and offers stunning views of Lake Ontario. The city is also home to many top-rated golf courses, making it a popular destination for golfers.
Oakville has a strong economy and is ranked as one of the best places to live in Canada. It is a safe and friendly city, with a low crime rate. The cost of living in Oakville is high, but this is offset by the city’s strong job market. If you are looking for a city to buy a vacation home, Oakville should be at the top of your list. It has everything you could want in a vacation destination and its strong economy makes it a wise investment.
6. Scarborough
Located in the east end of Toronto, Scarborough is a great place to buy a vacation home for investment purposes. The city is home to a variety of different attractions, including the Scarborough Bluffs, a beautiful natural setting along the shores of Lake Ontario. Scarborough is also home to many different cultural attractions, such as the Scarborough Museum and the Art Gallery of Scarborough.
Traveling for investment purposes can be a great way to make some extra money and get a vacation home at the same time. Many different cities offer great investment opportunities, but the six that we have listed here are some of the best. With a little research and planning, you can find the perfect city to buy a vacation home in and start making money while you travel.
