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Getting Into The Blue Mountains Real Estate Market

The Blue Mountain Resort, one of the most popular tourist sites in Southern Ontario and Canada, is located in the Blue Mountains. It is most known for its ski resorts, but tourists and inhabitants alike may enjoy a wide range of other activities all year long. Owning a new townhome in the Blue Mountains entails owning property in a stunning natural marvel of South Ontario that is just a 2-hour drive from Toronto and provides a variety of seasonal activities. Every part of the community where new townhomes in the blue mountains are built will have quick and easy access to a variety of recreational offerings, making it an idyllic piece of country for any seasonal or retirement home, or one where a resident can set up a work from home environment with some of Canada’s best landscape just out their window. Beyond its prestige and qualities as a popular resort town, what are the benefits of buying a new townhome in the Blue Mountains? The bigger city of Collingwood, which offers most big-ticket stores as well as the services and facilities normally associated with more metropolitan areas to reside, is the community’s immediate next-door neighbour. The Blue Mountains differs from its immediate neighbour Collingwood in two ways: it has a much smaller population (7025 vs. 20,102), a median age of over 10 years (57.6), a higher median family income, and a much higher median property price. Over 45 percent of Blue Mountain’s occupants are over the age of 60, therefore preconstruction townhomes appeal to older individuals who are either seasoned in their job or retiring. It isn’t expected to have considerable population growth in the next few years, with estimates predicting a population increase of 7,660 to 8,600 people between 2021 and 2031.

Benefits of Investing in Pre-construction Townhomes in The Blue Mountains

Many people have thrown their money, or their new condos, on the idea of Blue Mountain for years. The natural beauty of the region has attracted a lot of innovative and progressive-minded business people and citizens, who come for a vacation or to retire permanently. As communications infrastructure improves, a third option emerges: working from home. Part of the appeal of buying pre-construction townhomes in Blue Mountain is that the municipality is making significant investments in its own future. To account for the effects of the pandemic, the Town of the Blue Mountains has developed a comprehensive 5-year economic strategy plan. A desire to diversify their economy, make working in the city easier, and encourage the building and availability of new townhomes in Blue Mountain are just a few of the important takeaways from that strategy. The Blue Mountains have provided an increasing number of development licences to corporate, industrial, and real estate developers each year over the previous nine years, with the most permits issued in 2020 (649). While residences are pricey, including some of the most expensive in the area, the Blue Mountains also has a high rent cost of about $2,000 per month and a low vacancy rate. The neighbourhood continues to witness steady expansion in permanent inhabitants, thanks to the prestige of a new home in The Blue Mountains, as well as the year-round availability of outdoor activities and gorgeous views.

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Employment in The Blue Mountains

The tourist sector, which operates year-round, and the agriculture business are the two main industries of the Blue Mountains. Apples are the principal agricultural product, with the comparatively tiny permanent population caring for nearly 15% of Ontario’s total apple harvest. Entrepreneurship and the growth of small enterprises are the backbone of The Blue Mountains economy closer to the town’s urban centre. Tourism is the biggest sector in terms of employment generation, followed by accommodation and food services—tourism, retail, arts and entertainment, and leisure. Construction and agriculture are ranked fourth and fifth, respectively, despite the fact that between 2011 and 2020, construction had a 63 percent growth in the number of persons employed, making it one of the fastest expanding industries in the area.

Average Price for Townhomes in The Blue Mountains

Since the start of the pandemic, the typical cost of a new house in The Blue Mountains has risen significantly. New Townhomes in The Blue Mountains are less affected by this price spiral, with a current average cost ranging between $585k-$710k, or an overall average of $660,000.

Transit And Accessibility

The Blue Mountains are a popular tourist destination for city dwellers looking for a place to rent or buy as a second home. As a consequence, The Blue Mountain has a well-developed transportation system that connects it to other major cities. It’s a 2 hour trip from Toronto, and the early areas of the GTA can be reached in around 1hr40m. The nearest large city is Barrie, which is roughly a one-hour drive away. Collingwood, as well as the remainder of the Wasaga Beach area, are all within 30 minutes driving distance of the town for most facilities that aren’t offered by the community. All of this is accomplished by automobile, and it begins with Highway 26, which follows beside The Blue Mountain and Collingwood until reaching Barrie, when Highway 400 is utilised to continue southerly till reaching Newmarket, Vaughan, and finally the centre of Toronto. The Blue Mountains lack a significant public transit system, since its lower and higher income residents rely on personal automobiles to meet their mobility requirements. National parks, resorts, hiking trails, and countless more getaways and reserves are all within a 5-minute drive of a new townhome in The Blue Mountains in either direction.

Questions & Answers

How Do Development Charges Work?
How Does a Townhome Differ From a Home?
Is There A Way To Avoid Paying Land Transfer Tax?

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