Top Reasons to Purchase a House in Ottawa

Situated in the southeast part of Ontario, Ottawa is the capital city of Canada, with a total area of over 2,700 square kilometers. Despite being one of the primary centers of economic activity in the country, the city boasts of clean surroundings and fresh air. Ottawa ranked fourth in the “10 Cleanest Capital Cities in the World” as reported by the World Health Organization (WHO).

Ottawa is home to more than a million residents, many of whom emigrated from European and Asian countries like the United Kingdom and China. Apart from immigrants, the Silicon Valley of the North also attracts thousands of millennials from various parts of Canada who are looking for a place to call home.

If you are searching for a place to raise and family and fulfill your dreams, now is the best time to look at Ottawa Houses for Sale. Apart from the privileges of living in the national capital, below are some of the reasons why buying a home in Ottawa is a worthy investment:

 Affordability

 House prices in Ottawa may have risen over the years, but they are still relatively more affordable than other cities in the country. Note that the average home price in Toronto is at CA$921,000, while it is only at CA$373, 200 in Ottawa. That is a difference of over CA$500,000.

Paying less than CA$400,000 for a home in one of the most desirable cities is such a small price to pay. After all, can you truly put a price tag on the opportunity to live in a clean and green neighborhood with a remarkable health system and high-quality of life?

Price Appreciation

 Purchasing your own home in the Silicon Valley of the North is also a much better investment than renting or buying a property someplace else. The market value of Ottawa properties is steadily increasing every year.

The average condo price in the city increased by 6.2 percent, and the value of a residential property was up by over 11 percent in 2018. Imagine the value of your investment a decade down the road if you take the opportunity to buy a house in the city today.

Low-Interest Rates

According to a prominent rate comparison website, lenders are offering some of the lowest mortgage rates that Ottawa and many parts of Canada have ever seen in years. For instance, the rate of a standard 5-year fixed-rate mortgage is now at 2.64 percent, which is much lower compared to several years ago. Essentially, now is the best time as any to purchase a home as you can get loans at affordable rates and experience significant growth in your investment.

Environment

Perhaps, the best reason you should buy a home in Ottawa and live here for good is the place itself. Ottawa boasts of a strong economy, vast employment opportunities, low crime rate, and topnotch universities and colleges.

It is also a place where you and your family can enjoy world-class entertainment, festivals, and the best that Mother Nature has to offer. Ultimately, Ottawa offers all the comforts and sophistication of urban living with the warmth and hospitality typical of a small, close-knit community.

The items above are just a few of the reasons why you should seriously consider looking at Ottawa Houses for Sale today. Keep in mind that the sooner you buy, the sooner you get to enjoy living in a city that offers tons of opportunities, not only for your family to thrive but also for reaching your personal goals.