Positioned on the shoreline of Lake Ontario, between Toronto and Hamilton, Oakville is a part of the Greater Toronto Area. Recently, this bustling neighbourhood, named one of the most desirable places to live in Canada, offers numerous possibilities for recreational and cultural activities as well as an excellent quality of life. buying house in Oakville Canada is one of the most significant decisions you will ever make. In addition to this choice comes the uncertainty of selecting the right property type. When it comes to various housing alternatives, houses and condos are at the top of the list. Each option, with its own advantages and disadvantages, must be considered before making a decision.
Condos, often known as condominiums, are in an attached building and have less square footage than a typical home. Houses, on the other hand, have four outside walls that are not connected to any other residential unit and exist in various sizes, shapes, and layouts. This blog delves into the pros and cons of buying Oakville new homes that offer comfort and an enhanced living experience.
Pros of Buying House In Oakville
With time, the suburb has undergone a complete transformation, with large multilevel residences cropping up. Moreover, due to its closeness to daily requirements, Oakville has established itself as one of Toronto’s top areas. Some of the pros of buying Oakville real estate are listed below:
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Affordable Real Estate
Purchasing a residential unit in Oakville involves plenty of costs, but these costs can be minimised by making the proper decision. Prices for condominiums and houses can vary significantly. Meanwhile, condos are typically more cost-effective and economical in the beginning because you only purchase one unit and split the expense of additional services and maintenance with people.
On the other hand, single-family homes can be more expensive because you buy both the house and the land. Furthermore, Oakville’s new homes provide more space and privacy than condominiums, which can contribute significantly to their higher cost. However, the size, location, and other important aspects influencing the cost of condos and residences must be considered.
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Spellbinding Places To Visit
Oakville has world-class museums, tourist sites, and beautiful European architecture. The multilingual city has a vibrant cultural life and is noted for its many landmarks and attractions, like Coronation Park, Glen Abbey Golf Club and the bustling 5 Drive-In Cinema. The downtown location provides superb dining and shopping opportunities too. From the modern Hilton Garden Inn Hotel to the historic Sandman Hotel, these resorts provide great amenities and facilities for a pleasant and relaxing vacation.
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Efficient Transport System
The property location and the lifestyle it provides are important factors in determining Oakville house prices as also a decent transport system for living reasons. Residences in Oakville are often placed in the city centre, making it easy to use public transportation for work or education. Furthermore, you will be near retail outlets, medical centres, dining options, etc. These city benefits are more important to working professionals. Recently, ten charging stations have also been built at Oakville Transit’s main stop to accommodate battery charging for the electric transit buses. Moreover, operators and mechanics received specialised training to ensure the secure and efficient functioning of the new electric buses.
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Secure Neighbourhoods
Over the years, the Oakville neighbourhood has evolved into an affluent real estate. Oakville boasts a diverse range of cafes, shopping centres, restaurants, and fine educational institutions. Due to its closeness to essential amenities, Oakville has established itself as one of Toronto’s top neighbourhoods. Though the development of buildings and the locality has changed dramatically over time, the residents here are friendly.
The residents of this locality maintain strong social connections and enjoy financial stability that enables them to buy a house in Oakville. The employment rate and overall percentage of working professionals in Oakville are fairly high. This data demonstrates that people in this area are eager to pursue full-time professions. Further, according to the Canada survey, Oakville crime rates have been recorded as 56% lower than the national average and also recognised as safer than 91% of Toronto cities.
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Ample Schools
Aside from being an upscale community, Oakville real estate is the best community in terms of being trendy, cutting-edge and at ease at all times. The community is enclosed by numerous prestigious educational institutions. Below are some top-notch schools in the neighbourhood that make this place ideal for living:
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- Oodenawi Public School
- Joshua Creek Public School
- Rotherglen School
- Oakwood Public School
- Forest Trail Public School
- Montclair Public School
Cons of Buying House In Oakville
Though the development of buildings and the locality has changed dramatically over time, the residents here still have ties to one another. However, this area also has some cons to buying a house in Oakville, such as:
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Limited Job Opportunities
Despite its small population and under-construction development, Oakville has limited job opportunities. If you are planning to reside in Oakville for work, you may be compelled to reconsider. Due to fewer career options, you might consider working in Toronto. Moreover, daily, you will have to commute from Oakville to Toronto. Recently, the unemployment rate in Oakville has been recorded as 37% lower than the national average.
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High-end Restaurants
Over time, Oakville real-estate expansion has made significant strides in transforming all of the historical structures into distinctive and contemporary dwellings. Resulting in a neighbourhood that is perfectly harmonised with the needs of the hour. Oakville has various amazing restaurants to keep visitors thrilled and amused. You may explore the bustling food places in your own time and become addicted to it. Some of the restaurants for your ease are mentioned below:
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- Harpers Landing
- Bâton Rouge Grillhouse & Bar
- Maro’s
However, most restaurants in Oakville are expensive and may not meet the pockets of every resident.
Wrapping Up
Oakville house prices provide enormous potential in terms of providing consumers with a plethora of possibilities to seek. With a variety of housing options, one may find consolation in their odd new house, living luxuriously. Although buying a house in Oakville presents numerous challenges and obstacles, they also have multiple benefits. However, one must be prudent in their investing decisions and analyse their living experience about various real estate home types.
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Frequently Asked Questions (FAQs)
Yes, housing prices are dropping in Oakville.
Yes, Oakville is a good place to invest. In recent years, the community has made a reputation in top places in Toronto.
Oakville is popular for being near the shoreline and close to Toronto. It allows commuters to enjoy smooth travel to other cities.
The benefits of living in Oakville are its prime location and vicinity to Toronto. The neighbourhood has several well-known schools, restaurants, reactionary activities and more.
Yes, Oakville is cheaper than Toronto, from real estate prices to grocery costs. Are housing prices dropping in Oakville?
Is Oakville a good place to invest?
Why is Oakville so popular?
What are the benefits of living in Oakville?
Is Oakville cheaper than Toronto?
