Ontario rose to quick fame with its hot real estate market, and we are not only talking about Toronto- the leader in GTA but also about other nearby communities that quickly joined the hot real estate trend. One of them is Newmarket which proved to be the perfect mix of suburban and big-city life. With an array of amenities, conveniences, and annual events it counts to one of the most vibrant small towns.

Buyers in Newmarket can count on a safe property investment, regardless if they intend to resell the property or rent it out. It is a win-win situation either way since property prices are on their way up. This means that landlords can count on more rent money and resellers will probably be able to work out a higher sales price in a couple of years if we look at the prospects for real estate in the town.
The Rental Market Is On The Rise
Even if Newmarket has a large percentage of homeowners, 84% to be exact, and just 16% of residents live in rented homes; it is not something that should impact your decision.  After all, there is always someone who needs a place to stay and a roof over the head, and landlords know that their rental unit will not be on the market for too long. In addition, the number of people moving to Newmarket increases, and it is most likely that they will not go on a home purchase hunt immediately.

One of the most popular renting methods in Newmarket became renting out spacious (but legal) basements. There are many homes in Newmarket with this kind of extra space which turned many homeowners into landlords. If we add the fact that the market is going up and the prices along with it, we are pretty sure that you could pay off your mortgage with the rent money.

If you decide to become a landlord, just bear in mind that the Ontario Fairness Act 2017 is very protective of renters, so make sure that you have a solid agreement where everything is defined to the slightest detail. Also, the new legislation does not allow raising the rent more than once a year for the same tenants and you will not be able to increase the rent as you please. Still, Newmarket tenants are overall good and qualified renters who respect your property and due dates according to local landlords, and sometimes, that is even more valuable than the rent itself.

Location Matters
Regardless of the purpose of your investment, there are certain locations to be avoided in Newmarket as well. Make sure to study each area before you sign a purchase and sales agreement. Good areas outweigh bad neighborhoods though, so you will still have plenty of choice. For example, properties near the Southlake Regional Health Center are very popular, and the area counts to one of the top neighborhoods.

Economic Benefit
Newmarket is still growing and expanding. One of the great things about Newmarket is that the public sector cooperates closely with the community to further strengthen the economy and development. The positive business climate and pro-community attitude are also some of the reasons many Canadians opt for this town. Newmarket has a bright and shiny future according to many forecasts and reports, and those who are looking for the right investment opportunities should check out what the town has to offer.