Is Flipping Real Estate in Barrie, Ontario Still a Viable Investment?

Over the last couple of years, there has been a lot of attention on the Barrie real estate market. The house prices started to climb approximately a year before COVID-19 made its global entrance, and then surged to unprecedented levels during the pandemic. The post-pandemic world has seen many of Barrie’s house prices finally starting to level off, but it seems that the area is still an incredibly sought after to place for investors to purchase real estate in.

The difference seems to be that the sense of urgency shown by feverish buyers has been dialed back. During the worst of it, buyers were hurling offers above asking price at properties sight unseen, skipping house inspections and purchasing with no conditions above having the seller accept the bid. Just how aggressive and rampant the bidding wars became during that time was much used fodder for the newsmakers headlines. Now, buyers seem to have much cooler heads, prevailing to wait a little longer to make sure the house they buy is right for them before sealing the deal.

Anyone who was sitting back and watching the purchasing frenzy during that time, heard about the exorbitant amounts that were being asked, and then outbid on, might be wondering if now, when the market has slowed, is flipping real estate in Barrie, Ontario still viable?

The short answer is yes.

The long answer is still yes, as long as you understand these two things: why Barrie is such a popular place to live and, how you can still get deals despite the recent high prices.

Why is Barrie Such a Popular Place to Live?

Barrie’s proximately to Toronto has always been a major selling point. Only an hour north of the megacity by car, bus or GO Train, Barrie has long been considered a bedroom community. It seems to have started during the housing development boom in the 1980’s, and has since become the rule rather than the exception due to the scarcity of jobs that pay above minimum wage.

Traditionally Barrie has much lower housing and cost of living prices than Toronto and the GTA (Greater Toronto Area) so anyone selling in Toronto and moving to Barrie would make a tidy profit. This is still the case. As Barrie’s house prices grew, so did Toronto’s. It does not appear that that particular gap will ever narrow, thus making it certain that Barrie will always be a viable option for Torontonians to purchase real estate in.

How close Barrie is to cottage country has historically been one of its greatest physical attributes. Known informally as the gateway to cottage country, once you get a few minutes outside of Barrie you can already see the landscape take a bucolic shift, becoming more Muskoka-esque the further you go. Barrie, despite the population surge of late, still offers a lot of the beauty of the north, but also offers the material comforts of city living.

How Can You Get Affordable Properties for Flipping Real Estate in Barrie, Ontario?

With the housing prices leveling off right now, it can be a waiting game to find the right place to match your budget, and profit goals. The best way to proceed is to arm yourself with a team of professionals.

• Professional real estate agents – Your real estate agent should be able to look at your house flipping investment budget, and find you a house that balances your property purchase amount with your renovation amount, and offers a good prospect to meet your expectations for profit.
• Professional contractors – Your contractors will have a proven history of delivering quality work on time, and on budget. Anything less and you’re running the risk of cutting into your profit margin.
• Professional mortgage lenders – Your mortgage lender is one that can get you the best rates possible. This is especially important considering the volatility of the market, so you need to be prepared to keep your carrying costs as low as possible should you need to hold the mortgage for a couple months longer than anticipated.
• Professional savings – Shop2Save, an innovative online consumer portal offers members real cashback rewards for buying and selling real estate, and arranging mortgages. The site services its members with two of Canada’s top companies, Remax and Dominion Lending.

You will absolutely need a professional team to make flipping real estate in Barrie, Ontario a viable investment, and the added cashback from arranging the majority of your team through Shop2Save means more money in your pocket.

People just seem to love Barrie, and you will too.

With the house prices leveling off, get started today to see how much money Barrie can make you.