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New Condos in Oakville

New Condos in Oakville True Condos

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New Condos in Oakville True Condos

Investing in New Condos in Oakville

If you are looking to purchase a new condo in Oakville, we welcome you to the vibrant community nestled within the Greater Toronto Area (GTA), beside the beautiful lakeside with a strong heritage, preserved and celebrated by residents, visitors, and investors alike. Founded in 1857, this striking town has become one of the most coveted residential and business centres in Ontario, and for good reason:

• Beautiful neighbourhoods
• Growing business
• Quality schools
• A full-service, acute care community hospital
• Proximity to Lake Ontario and recreational areas
• Easy access via QEW, 403, 407 and GO Transit
• Charming shopping districts in the downtown core

A community of over 194,000 people, Oakville is the premium location for the work-life balance desired by professionals and families alike. Located 30 minutes from downtown Toronto and at the centre of Canada’s golden horseshoe, market-leading companies continue to choose Oakville as their place to do business. As a result, the population and economic output of Oakville are expected to grow and with that, new opportunities are expected to grow as well. Whether that be in the form of new jobs or new condo investments, both options present the opportunity to invest in your future.

In a recent survey of residents, 86 per cent said Oakville is a better place to live than anywhere else in the GTA. Ideally located in a beautiful natural setting, Oakville offers top-quality amenities and stunning new condo developments. The outstanding range of lifestyle choices will continue to make this growing community one in which residents and businesses feel a need to be a part of.

Investing in Oakville – Stats

• Average price for new condos in Oakville in 2017 = $370,900 (6% increase from 2016).

• Average price for resale condos in Oakville in 2017 = $582,420 (9.11% increase from 2016). The difference in prices between new condos in Oakville and presale condos indicates a potential positive growth for condo investors.

• Average price per square foot for new condos in Oakville in 2017 = $640/Sq.ft (6% increase from 2016).

• Oakville’s 2018 average household income was estimated at $170,216.75, with the provincial average at $106,524.04.

• Approx. 60 percent of Oakville households earn an annual income of more than $100,000.

• 11 major companies opened new operations in Oakville in 2018, bringing in more than 1,600 new jobs.

• Oakville is expected to see an increase of 127,000 new jobs over the next 20-25 years.

Invest in New Condos Oakville True Condos

Where is Oakville?

A 30-minute drive from downtown Toronto, and an hour’s drive from the U.S. border, Oakville is a great destination for residents and investors. West of the city, Oakville is positioned halfway between Toronto and Hamilton close to Lake Ontario. Other major cities neighbouring Oakville are Milton, Burlington, and Mississauga. In 2018, Oakville was selected by Moneysense.ca as the number one place to live in Canada. As an investor, staying updated with new condos in Oakville could present opportunities in the near and far future as the city becomes more desirable.

Transportation in Oakville

When investing in or purchasing a condo of your own, it’s important to know that the area has updated infrastructure with easy access to transportation. New condos in Oakville raise no concerns as there are several options for getting around. Choose your favourite mode of transportation and you’ll be able to see the Town from almost every perspective.

Oakville Public Transit

Oakville Transit serves the public on a day-to-day basis ensuring they receive the best possible service. This means providing adequate accessibility, ensuring the routes and maps are up-to-date and taking advantage of the latest technology to make it easier to pay your fare.

Taxi

If you’re interested in investing in or purchasing a new condo in Oakville but don’t have a car, the town has two major taxi services that operate 24/7, 7 days a week- Oakville United Taxi Service, and Halton Taxi. Also, Uber operates within Oakville and is a well-known and reliable ride-sharing service used across the GTA.

Train

If you’re a commuter who is interested in a new condo in Oakville, the town has two GO Transit Stations, both offer hourly service to Toronto, Hamilton, and other destinations. Oakville GO Station at 214 Cross Avenue and Bronte GO Station at 2104 Wyecroft Road.

VIA Rail

Oakville has everything you would need for getting around. Regular service between Oakville and Kingston, Ottawa, Montreal, London, Windsor, New York City and more are offered through VIA Rail for out-of-town travellers.

Driving in Oakville

Located just outside of the city, driving is a viable option for those who purchase or invest in new condos in Oakville. The town is easily accessible by all major roadways, with traffic flowing from the east/west on the QEW and highway 407, and north and south on highway 403.

These highways are great for investors because drivers can conveniently access Southern Ontario’s largest urban centres within approximately 30 minutes, including the downtown core of Toronto.

Cycle and Walk

New condos in Oakville provide a great opportunity for alternative transportation with a network of cycling routes that consists of on-road bike lanes, paved shoulder bikeways, signed bike routes, and multi-use trails.

Additionally, there are 105 kilometres of on and off-road cycling paths, over 150 kilometres of trails, 420 hectares of parkland and more than 200 parks, playgrounds, sports fields, and 31 waterfront parks, Oakville has recreational opportunities for everyone!

New Condos in Oakville Transportation True Condos

Oakville Lifestyle and Entertainment

Events and Festivals

Buyers of new condos in Oakville have something to do all year round. The TD Songs of Summer and Oakville Children’s Festival during the summer, Bronte Provincial Park’s Maple Syrup Festival in March, and a wide range of activities are organized each season.

Culture and Recreation

Have your pick of theatre, dance, music or comedy at the Oakville Centre for the Performing Arts or enjoy a walk from gallery to gallery along historic downtown streets. If you’re interested in something slightly more physical, there’s nothing like a playing 18-holes at one of Oakville’s golf courses such as Glen Abby Golf Course.

Parks, gardens and harbours

New condos in Oakville are typically surrounded by an abundance of parklands, trails, creeks, golf courses, and award-winning gardens. As a buyer or investor, take the time to experience the natural wonders of the town and its scenic harbours — Oakville Harbour and Bronte Harbour.

Shopping and dining

Oakville is renowned for its beautiful shopping and dining districts, including the sophisticated Downtown Oakville — one of the foremost shopping and dining destinations in Ontario with architecturally preserved storefronts. Each district in Oakville offers an assortment of spas, galleries, and cafes and restaurants preparing a variety of world cuisines including Mexican, Italian, French, Greek, Thai, Pacific Rim and Southwestern.

Oak and Co. Condos 3 is a new condo in Oakville at Dundas Street East and Trafalgar Road. The following promotional video showcases the urban amenities of Oakville.

New Condos in Oakville

New Condos in Oakville – Frequently Asked Questions

What does it mean that Andrew la Fleur is a “Platinum Agent”?

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Platinum agents are the top selling agents who get preferred status with developers and first access to new projects before regular agents and the public.

Andrew la Fleur has been a top-selling pre-construction agent since 2007, and during this time he has achieved platinum status with many of the top builders and sales companies in the Greater Toronto Area.

For more information on about Platinum agents see this article: https://truecondos.com/5-things-to-know-about-buying-a-condo-with-a-platinum-vip-realtor-real-estate-agent/

How does it benefit me as a buyer to work with Andrew la Fleur as my Platinum Agent?

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Working with me as your Platinum agent gives you several benefits

  1. You get the highest level of access in the building
  2. You pay the lowest possible price for the unit (prices are typically increased significantly after the Platinum sales event)
  3. The best possible incentives
  4. I do not represent the builder. I represent you. You benefit from my expertise of being a top selling pre-construction agent and investor myself since 2007.
  5. Access to my personal network of mortgage brokers, lawyers, property management, HST rebate services, handymen and much more.
  6. My services to you as a buyer are free

Do I get a cooling off period? What is it for?

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Yes, after you sign the contract to purchase a suite you will have a standard 10-day cooling off period. It’s 10 calendar days, not business days from the time you sign.

The 10 days are primarily for 2 things: 1) to have a lawyer review your contract with you if you wish and 2) to get a mortgage pre-approval letter

Do I need to have a lawyer?

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You don’t need to have a lawyer at the moment that you sign the agreement, however I always recommend that you have a qualified lawyer review your agreement of purchase and sale after you sign and during your 10-day cooling off period.

Not sure who to talk to? Don’t worry – getting a lawyer is something I can help you with. Contact me for more details.

Do I need to have a mortgage pre-approval to buy?

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95% of all builders will require you to provide them with proof of financing capability in order to purchase. This is not required before you sign a contract, but it is usually required within 60 days of signing.

Not sure where to begin? Don’t worry – getting a mortgage pre-approval is something that I can help you with. Contact me for more details.

Do the prices include HST?

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If you are purchasing for yourself and plan to move in, then yes, prices include the HST and there is nothing you will have to pay at final closing.

If you are purchasing as an investment rental property, then you will have to pay approximately 7.8% of the purchase price as HST on final closing.

This money is remitted to the CRA and as an investor renting out your property you can apply to the CRA immediately to get this money back. It usually takes about 1 month to get your rebate back.

For more information on the HST, see here:

https://truecondos.com/tag/hst-rebates/

Contact me for more details.

What are my closing costs on a pre-construction condo?

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Closing costs on a pre-construction condo will vary greatly depending on the actual purchase price of the unit you are buying, but it also depends on the builder, the city that you are buying in, and the type of unit that you are buying.

 

Roughly speaking in Toronto you can expect to pay approximately 3-5% of the purchase price in closing costs when purchasing a brand new condo.

 

Check out this article for more info on closing costs:

https://truecondos.com/5-things-to-know-about-closing-costs-when-investing-in-a-pre-construction-condo/

 

Contact me for more details

Are there any ‘hidden’ costs when buying a pre-construction condo?

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No, there are no hidden fees when buying pre-construction condos because all fees must be disclosed in the agreement of purchase and sale. All purchasers have 10 days to review the agreement and have a lawyer advise them on the exact closing cost amounts. If you need a lawyer to help you we can suggest to you to several expert law firms that will review your agreement in detail.

Is it possible to assign my condo? How much is the assignment fee?

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Most condo builders do allow you to sell your unit before the building is complete. This projcess is called selling by “assignment”.

There is usually an assignment fee and a legal fee associated with selling. Costs can range from $1000-7000. Contact me for more details.

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