Tag Archives: suburban living

What are the Best Mississauga Neighbourhoods to Invest in?

 

Source: Insauga.com – by Kim Kubath on October 29, 2017

With property values steadily escalating in Mississauga, it makes sense that investors (from all over) are interested in buying up valuable pieces of real estate. While the entire city is generally a good investment, each neighbourhood is different and some will suit different investor needs.

So, if you want to purchase an investment unit, which neighbourhoods are best and why?

Basically, Mississauga is a fantastic city to purchase an investment unit in. Amenities are growing, transit is abundant, and you can get more for your money compared to more expensive cities like Toronto.

Neighbourhoods close to transit (highways, GO Bus and Train,and MiWay) are great places to start and Meadowvale and Clarkson are examples of this. Investment units vary from mature detached houses to semis and towns. There are lots of amenities (such as shopping) in these areas and they are also family friendly, offering great schools and parks.

Churchill Meadows and Hurontario and East Credit (south of Derry in the Heartland area) also offer lots of amenities, parks and schools, with newer detached, semi, and town homes. These homes make good investment units as they tend to have more space for basement apartments (which are common in these neighbourhoods).

City Centre is another good area to invest in, especially if you are looking to purchase a condo. Whether it is one of the brand new buildings or an established one, City Centre offers a first time investor an opportunity to get into the market on a more modest budget (one bedroom or two bedroom units are significantly more affordable than a house). City Centre also attracts a greater variety of renters, including families, students and single professionals. Amenities and transit are also at the doorstep, making it an attractive location for a larger variety of renters.

Now, if you want to purchase a home or unit to live in, other considerations are important.

Mississauga is currently seeing record prices in all neighbourhoods. I often tell my clients that any neighbourhood in this city is worth purchasing in, but I think it is important to determine what must-haves suit you most.

If you are looking for great schools and parks, then Erin Mills, East Credit/Hurontario and Churchill Meadows are popular and family oriented. Streetsville and Lorne Park have also traditionally been great neighbourhoods to live in given their charm and consistently increasing market values.

If you want to invest in more expensive neighbourhoods, it’s good to look at Lorne Park, Mineola, Erindale (Mississauga Road), Port Credit and Streetsville. If you want to spend less, more affordable neighbourhoods include Malton, Cooksville, Sheridan, Meadowvale and Clarkson.

If you want to invest in a more affordable neighbourhood, you could be making a wise decision.

Malton, for example, offers close proximity to Toronto. As an investor looking to get into the rental market, these areas offer opportunities to purchase homes that are still more affordable than other neighbourhoods in the city. Some investors want to buy homes that need renovations and then sell them for profit, while other investors want to rent the property for several years.

Where do you invest if you want to rent your place out indefinitely?

Areas close to transit and amenities are key for having good tenant turnover. City Centre, East Credit, Cooksville, Meadowvale and Lisgar all provide these features. City Centre is walking distance to all major conveniences and at the moment, due to Sheridan College, has many interested students looking for rental units.

Investors may also want to stay tuned to developments with the incoming LRT. At the moment, there are many residents relying on transit in Cooksville and the LRT will provide another option for these commuters. It will be a benefit to property owners and potential landlords alike.

If you want to invest in Mississauga, there really are no bad neighbourhoods—you just have to choose the one that best suits your needs.

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Should you buy in the city, suburbs or country?

Buying your first home brings major lifestyle changes – sometimes even a dramatic change in scenery. That’s because homeownership involves taking an honest look at your lifestyle, priorities and goals, and then investing hundreds of thousands of dollars in that vision. One of the first things to consider: should you buy where you rent, or house-hunt farther afield?

 

What’s right for you – the city, burbs or country?

CITY SLICKING

There’s a reason why urban real estate comes with a price premium: excellent public transit, plenty of arts and cultural attractions, lots of dining options, and easy access to everything from medical services to gyms and green space. Steady demand translates into a real estate investment that will grow as you build equity in your property.

PROS
  • Car-free living is a breeze (car share services are everywhere, so there’s no need to stress whenever you do require wheels)
  • Greater employment opportunities
  • Shorter commute to work and play
CONSIDERATIONS
  • Less home for the same price compared with suburbs and rural areas
  • Condos may be the only affordable option if you want to live right in the city core
  • Less privacy, thanks to closer quarters and higher population density

SUBURBAN DREAMS

Is it any wonder that generations of parents have flocked to the burbs to raise their families? It’s here that the much-desired single-family detached house rules, with big backyards (picket fence optional), good schools and a higher proportion of households with kids – perfect for impromptu street hockey or tag. While new communities may be low on shops and services, it only takes a few years of growth before cafés and sushi are just a short drive away!

PROS
  • Lower housing costs mean you get more home for your real estate dollar
  • Daycare costs are often lower than in the city
  • Quieter than the city, yet less remote than rural areas
CONSIDERATIONS
  • Longer commute and higher commuting costs (gas, parking, commuter trains and so on)
  • Some newer suburbs may not be as walkable compared with the city
  • Fewer entertainment, dining and grocery options nearby, aside from big-box chains

COUNTRY LIVING

Fresh, clean air, room to roam, no one to bug you about your bonfire or backyard hens – what could be better, right? Rural living has always appealed to self-reliant types, and in recent years it’s gotten a boost from millennials seeking a more affordable and lower-stress lifestyle (although overall, more people are leaving the country for the city). If you work from home, you can skip the commute and spend the extra time relaxing – or picking up a back-to-the-earth side gig to supplement your income.

PROS
  • Lower housing costs and more outdoor space for kids, pets and gardens
  • Easy access to recreational forests and lakes
  • Better air quality
CONSIDERATIONS
  • More susceptible to extreme weather: potential to be snowed in; power outages can be more frequent and last longer
  • Longer commutes to work, errands, entertainment and medical appointments
  • Harder to make friends in a small, tight-knit community (TIP: Make it easier by joining a volunteer committee!)

Source: homeownership.ca 

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Census 2016: Canada’s population surpasses 35 million

Canada’s population increased to 35,151,728 last year largely driven by growth in the West, according to 2016 census data released Wednesday by Statistics Canada.

The country’s population has grown five per cent since the last census in 2011, when it was at 33.5 million, the highest rate of growth among G7 countries. However, the growth rate declined from the 5.9 per cent increase recorded in 2011.

About two-thirds of the increase recorded in 2016 was due to net immigration into the country, while the rest was from new births.

The majority, or 66 per cent, of Canadians still live within 100 kilometres of the southern border with the U.S.

The number of private dwellings grew nationwide by 5.6 per cent to 14.1 million.

The population continued to boom in Western Canada. The quickest pace of growth was recorded in Alberta (11.6 per cent), Saskatchewan (6.3 per cent) and Manitoba (5.8 per cent). The three prairie provinces recorded the most growth in the country for the first time since Confederation, according to Statistics Canada.

Alberta had been the fastest-growing province in the 2006 and 2011 censuses as well.

The rate of growth was higher than in 2011 in both Alberta and Manitoba, the only two provinces that registered an increased rate of growth from the last census.

It is important to note that the census was collected in May 2016, so does not fully take into account the recent economic slump in Alberta.

“The census compares 2011 to 2016, and we’ve seen 15 strong years of growth in Alberta,” says Karen Mihorean, director general of the education, labour and income statistics branch of Statistics Canada.

Mihorean said Alberta is unique among Canadian provinces for having strong numbers in all three factors that contribute to population growth: immigration, interprovincial migration and new births.

British Columbia also grew faster than the national average, by 5.6 per cent. Just under 32 per cent of Canadians now live in the four western provinces, compared to 38.3 per cent in Ontario, 23.2 per cent in Quebec and 6.6 per cent in Atlantic Canada.

Low growth in Atlantic Canada

The four Atlantic provinces recorded the lowest growth in the country: 1.9 per cent in Prince Edward Island, one per cent in Newfoundland and Labrador (where more deaths than births occurred in some years) and 0.2 per cent in Nova Scotia. New Brunswick’s population decreased by 0.5 per cent, the only province with a decline since 2011.

“From East to West, population growth gets stronger and that’s a trend we’ve seen for the last few censuses,” says Mihorean. “In Atlantic Canada, it’s a case of seeing people leaving these provinces for other parts of the country.”

– 2011: Canada census shows people moving west

Ontario remained Canada’s most populous province at 13.4 million, an increase of 4.6 per cent from 2011. But Ontario’s growth rate was lower than the national average for the second consecutive census period, the first time that has happened in more than half a century.

Quebec’s population grew 3.3 per cent to 8.2 million, followed by British Columbia at 4.6 million, Alberta at 4.1 million, Manitoba at 1.3 million and Saskatchewan at 1.1 million. The population in Atlantic Canada was 2.3 million, with just under 924,000 residing in Nova Scotia.

The North was home to nearly 114,000, led by the Northwest Territories. The population of Nunavut, which at 12.7 per cent had the highest growth rate of any province or territory due to its high fertility rate, moved ahead of Yukon.

Western cities record greatest growth

While the rate of growth slowed in Canada’s three largest metropolitan areas, 35.5 per cent of Canadians now call Toronto, Montreal and Vancouver home.

Toronto remains the country’s largest metropolitan area at 5.9 million, increasing by 6.2 per cent since 2011. Montreal’s population has surged past the four million mark to 4.1 million, while Vancouver’s population now stands at 2.5 million, up 6.5 per cent.

With growth of 14.6 per cent, the highest of any metropolitan area in the country, Calgary is now Canada’s fourth largest city at 1.4 million, moving ahead of Ottawa-Gatineau (1.3 million). Also at 1.3 million, Edmonton is the only other Canadian city with more than a million residents.

The six fastest metropolitan areas were all in Western Canada: Calgary, Edmonton, Saskatoon, Regina, Lethbridge, Alta., and Kelowna, B.C., with all but the last posting growth of more than 10 per cent.

At the other end of the country, however, all of Atlantic Canada’s metropolitan areas recorded a slower rate of growth than in 2011, while the population of Saint John fell by 2.2 per cent — largely due to residents moving to other parts of Canada.

Sylvan Lake, Alta., was the fastest-growing census agglomeration, growing by 19.6 per cent since 2011, while Campbellton (mostly in New Brunswick but partly in Quebec) had the greatest decrease at 9.3 per cent.

Among municipalities with at least 5,000 residents, Warman, Sask., had the highest rate of growth since 2011 at 55.1 per cent, followed by the Alberta communities of Blackfalds (48.1 per cent) and Cochrane (47.1 per cent). Bonnyville, Alta., had the fastest rate of decrease at 12.9 per cent.

The population and dwelling counts mark the first set of data from the mandatory short-form 2016 census to be released by Statistics Canada. Further releases, including those related to gender, language, immigration and labour, will follow throughout 2017.

The data will assist decision-making across all levels of government and provide sociologists, demographers, urban planners and businesses with a wealth of information.

Source: CBC.ca – Éric Grenier

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Beware of ‘transportation mortgage’ when moving to suburbs: planner

Port Mann Bridge

A new analysis of living costs in Metro Vancouver is raising serious doubts about whether opting for a cheaper home in the suburbs actually saves families money.

According to Andy Yan, director of Simon Fraser University’s city program, people who move out to the suburbs can end up spending far more on transportation than their Vancouver neighbours.

Using Statistics Canada data from 2011, Yan calculated that Langley residents will spend $563,755 over 25 years on transportation, while Vancouverites will spend $298,459.

That’s a difference of $265,296 over two-and-a-half decades.

“It’s the transportation mortgage. It’s the possible costs that could be involved in adding transportation toward your housing costs,” Yan said.

Factoring in those amortized transportation costs makes a dramatic difference in the million-dollar line, which separates the area of Metro Vancouver where most single-family homes are worth more than $1 million.

“The million dollar line is now somewhere on the border of New Westminster, Port Moody and Coquitlam,” Yan said.

In Langley, fewer than one per cent of single-family homes currently cost more than $1 million. If you include transportation, however, that number jumps to 73 per cent, according to Yan’s data.

But even if the moves don’t necessarily save much money, some who have headed to the suburbs argue they had few other options.

Jeremy Wee told CTV News he took the increased transportation costs into account when his family decided to move into a townhouse in Pitt Meadows, and they’re very happy with their choices.

“We found beautiful homes – new homes! – that we could actually bid on,” said Wee, who continues to commute into Vancouver.

“I love where I live, and I love where I work.”

Source: CTV Vancouver  Published Wednesday, December 21, 2016

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The myth about warming up your car on a cold day

Since modern cars have fuel-injection systems their engined don’t need to be warmed up. (Stefan Redel, sredel@sredel.de/iStockphoto / Getty Images)

The Stegosaurus disappeared more than 100 million years ago, doomed by its tiny brain and a changing world. Then we come to the carburetor, a crude fuel-mixing device that once ruled the automotive universe.

Today, the carburetor is largely extinct, kicked aside by the modern fuel-injection system. Yet millions of drivers still seem to be stuck in the Jurassic Period. I thought of this recently when I watched a man spend 10 minutes warming up a fuel-injected Toyota that could have been driven seconds after it was started.

Few processes are as poorly understood as the cold-weather start. Back in the days of carburetion, a car couldn’t be driven until it was warmed up. Today, warming-up is a counterproductive exercise that wastes fuel, harms the environment and damages your car. Let’s have a look at the science, history and flawed folklore behind the automotive warm-up:

Virtually every car on the market today is equipped with a fuel-injection system that adjusts gasoline delivery based on temperature, throttle setting and engine load – because of this, your car can be driven almost immediately, even at low temperatures.

Even in extremely low temperatures, most fuel-injected cars can be driven away less than 30 seconds after start-up. The best way to warm an engine is to drive away as soon as possible and keep the load low until it reaches ideal operating temperature. Accelerate gently and use small throttle openings. Driving loads the engine and warms it more quickly than extended idling.

Engines are most efficient when they operate in their optimum temperature range. Running an engine when it’s cold causes increased emissions and engine wear. The goal is to get the engine into its preferred temperature range quickly.

Using a block heater can dramatically reduce the wear on your engine by improving oil flow on initial start-up. According to tests by Environment Canada, a block heater can improve overall fuel economy by as much as 10 per cent – you get zero miles per litre while idling and fuel economy is best at optimum engine temperature, so you should reach the target zone as quickly as possible. Environment Canada tests also showed that warming up an engine with extended idling leads to sharply increased emissions.

Although driving away as soon as possible is optimum, you may be limited by visibility requirements – the defroster system in your car won’t work until the engine generates enough heat. This can be offset by the use of a plug-in interior heater. Some manufacturers offer windshields with embedded heating elements, which speed defrosting.

The science and engineering that govern engine performance are relatively simple. Metal parts expand and contract with temperature and are designed to work best within a specific range. The efficiency of fuel combustion also varies with temperature – a cold engine burns extra fuel.

The catalytic converter unit installed in your car’s exhaust system is less efficient when it’s cold. This is another reason why short warm-up times reduce emissions.

Many drivers base their warm-up practices on outmoded technology and outdated thinking. When cars had carburetors, engine warm-up was essential – trying to drive a carbureted car when it was cold was like waking up a temperamental senior citizen from a deep sleep. Modern fuel injection systems automatically adjust themselves to deliver the correct amount of fuel, and are ready to go almost immediately.

Extended-idle warm-ups were once encouraged due to lubrication technology. Old-school oils didn’t work well in low temperatures. Modern synthetic oils can flow well at temperatures as low as – 40 C.

Use remote starters wisely. Many drivers start their engines far ahead of time so their car will be toasty warm when they get in. This extended idle has a high cost. According to the Oak Ridge National Laboratory (a division of the U.S. Department of Energy), excessive idling shortens the life of your exhaust system and spark plugs because a cold engine creates more damaging combustion byproducts than a warm engine. Carbon and soot buildup also reduces the effective lifespan of engine oil.

Source:  PETER CHENEY The Globe and Mail Published Thursday, Feb. 26, 2015 5:00AM EST

 Read more questions and answers from Peter Cheney and Globe Drive here

Since modern cars have fuel-injection systems their engined don’t need to be warmed up. (Stefan Redel, sredel@sredel.de/iStockphoto / Getty Images)

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Road tolls: Will they actually reduce congestion?

HOT lanes that allow single-occupant vehicles to pay a toll to use carpool lanes are a popular alternative to HOV lanes. (J.P. MOCZULSKI for The Globe and Mail)

Vancouver, Toronto and Montreal are among the most congested cities on the continent – ranking second, sixth and ninth, respectively, according to TomTom data.

The average person living in the Greater Toronto Area (GTA) spends about 65 minutes commuting each day, and all that gridlock costs the region up to $11 billion per year, according to a C.D. Howe Institute study.

Road tolls a ‘fair’ way to fund transit according to Toronto mayor (CP Video)

The most common cure thrown around is road tolls, but a new study suggests they may not be the answer.

The report, Congestion Costs, Road Capacity and Implications for Policy-Makers, issued Friday by the Conference Board of Canada and commissioned by the Canadian Automobile Association South Central Ontario (CAA SCO), warns that governments should examine other options before moving forward with more road tolls.

However, economists at the C.D. Howe Institute argue road tolls are the best solution to reducing congestion and the additional revenue is a bonus that can be used to improve transit and other infrastructure.

The Conference Board of Canada report states there is a difference between policies designed to raise revenue and those designed to change driving behaviour.

“We have to be very clear about what we’re trying to achieve,” says Teresa Di Felice, director of government and community relations, CAA SCO. “If we want to achieve reductions, there are various tools, land use planning, ride sharing transit. When you move the conversation to road pricing there has to be a clear objective … If you want to change behaviour, that is a different pricing strategy.”

She says if tolls push too many people out of their cars, government won’t achieve its revenue goals.

The report examines other tools that policymakers can use to reduce congestion – highway ramp metering, variable speed limits, access controls such as time-of-day restrictions, ride-sharing support, biking facilities and public transit investment.

A previous Conference Board of Canada report showed Ontario drivers pay between 70 to 90 per cent of the cost to maintain roads through registration fees, gas taxes, parking tickets and other revenue tools. In the GTA, it’s more than 100 per cent.

“Motorists are frustrated, they are paying a fair chunk of the maintenance costs,” says Di Felice. With these reports, CAA wanted to see if drivers are getting the benefit of what they are paying and if motorists are going to pay more, what does that look like?

Tolls are the best solution, extra revenue is a bonus

“Even if on average, road users cover 100 per cent of spending money on roads, road pricing is still really important,” says Benjamin Dachis, associate director of research at the C.D. Howe Institute. “It is still the best solution for dealing with congestion.”

An example from London, England, supports this. A congestion charge there in 2003 cut traffic by about 15 per cent.

A 2007 study from C.D. Howe says, “Neither fuel taxes nor parking fees are effective in dealing with traffic congestion. Appropriately designed road-pricing schemes are the best instrument. Road pricing’s usefulness in charging for road damage, insurance, and so on, are a bonus.”

Dachis says his research shows that, on average, drivers pay less than 70 per cent of roadway expenses. There is a lot of confusion because there is good data on how much governments collect, but the money largely goes into general revenue, so there isn’t good data on how it is being spent.

Regardless, he says that tolls are effective to reduce congestion and to put a value on roads.

“When you have roads that aren’t tolled, there is something called the fundamental law of congestion, you build new roads and they fill up pretty quickly,” he says.

But the way to toll roads isn’t like what Ontario drivers currently see.

In September, 1,000 Ontario drivers received permits to use the high-occupancy toll (HOT) lanes on the Queen Elizabeth Way west of Toronto. It was part of a pilot project that allows those drivers to have a faster commute at a cost of $180 for three months. The project will last two-to-four years and the government will be adding HOT lanes to Highway 427 in 2021. Highway 407, just north of Toronto, is also a toll road.

“It (HOT lanes) is probably the most rudimentary form of road pricing I’ve ever seen,” says Dachis. “The bottom line is what the (Ontario) government has put in place right now is barely only training wheels.”

Dachis cites metered high-occupancy toll lanes in Seattle, Miami, Minnesota, Georgia and southern California as examples of what works, is not mentioned in the Conference Board of Canada report. The price to enter HOT lanes as a solo occupant is constantly changing based on how much time it saves the driver. Billing is controlled through either a smartphone app or a windshield pass. A sign indicates how much time it will take to get to designated interchanges, guaranteeing the travel time through the pricing scheme.

“We’re trying to guess the dollar value people put on roads,” says Dachis. “Road pricing makes it very clear what people will pay for roads.”

Dachis worries that because current HOT lanes are so basic, they will fail and people will reject any further conversation.

One major criticism of HOT lanes is that they are for the rich – hence the moniker, Lexus lanes. But Dachis says variable pricing will do away with that because there won’t be a monthly subscription. Rather everyone, regardless of income, can make a decision right then and there if using the lane will benefit them financially or socially. One of the biggest users of these lanes will be buses.

Cost is a factor, but a study by the University of Minnesota found that when Minneapolis converted some of its HOV lanes to dynamic HOT, the economic benefits were more than double the operating and capital costs.

Toll highways

“Tolling the whole freeway is totally doable. It would even be the best option, from an economists perspective,” says Dachis. “But that’s a hard sell when there are few examples of working toll roads in Canada.”

He adds that tolling the entire highway would allocate the scarce road space most effectively and should lower taxes for everyone.

Dachis and Di Felice agree that road tolls aren’t the only method governments should consider to reduce congestion. They also agree there has to be better data collected on how money is being spent on roads at all levels of government.

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These figures suggest just how much immigration drives Canadian housing demand

canadian-housing-immigration

Canadian immigration is set to reach its highest annual rate in a century this year as at least 300,000 newcomers are expected, a fact Scotiabank says is a tailwind for Canada’s housing market.

While those new to Canada don’t generally make the leap into homeownership right away, notes Scotiabank Economist Adrienne Warner, sooner or later most do.

“New immigrants typically first choose rental accommodations, but eventually have homeownership rates similar to Canadian-born residents,” Warren explains in the bank’s latest Global Real Estate Trends Report.

The Canadian homeownership rate was 69 per cent in 2011, the most recent year Statistics Canada provides this census data for.

Canada’s hottest major housing market is also the country’s leading migrant destination, according to the Conference Board of Canada, a non-for-profit research organization.

Nearly a third of those 300,000 expected to settle in Canada are Toronto bound, notes Alan Arcand, the associate director of the board’s Centre for Municipal Studies.

“Toronto is the main… destination for immigrants in Canada and immigrants are the biggest driver of population growth today in Canada,” says Arcand.

“It’s important to realize that Toronto adds about 90,000 people a year to its population. So the whole CMA (census metro area) of Toronto grows by a city every year, a mid-size major city,” he continues, adding, “All those people coming need places to live, so that drives the housing market.”

This is why the Conference Board forecasts housing starts (a measure of how many units construction begins on in a given period) will waver between around 38,000 to 41,000 through the 2016-2020 period. Arcand says this is around the 10-year average.

Population age demographics also fosters housing demand, says Scotiabank’s Warren.

“The number of Canadians in their prime homebuying years is projected to continue to grow through the end of the decade, though at a slower pace than in recent years,” she explains.

Source: BuzzBuzzNewscanada – 

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