Moving to Hamilton ......Please give your inputs if you have or are living there.

[KRP]

I am planning to buy my first house in Canada. I am currently based in Scarborough. If someone who has lived or is living in Hamilton can provide frank opinions about this place is highly appreciated. Please provide inputs to areas to avoid, crime zones, public transport problems, etc.
I am looking forward especially at a place called Stoney Creek.
Thanks in advance.

 

[shayusuf247]

i have not lived, but heard that Stoney Creek is very good place to live and has good schools too

 

[steaky]

Why not drive around the area? It's not a long drive compare to Niagara Falls.

 

[canuck78]

I am planning to buy my first house in Canada. I am currently based in Scarborough. If someone who has lived or is living in Hamilton can provide frank opinions about this place is highly appreciated. Please provide inputs to areas to avoid, crime zones, public transport problems, etc.
I am looking forward especially at a place called Stoney Creek.
Thanks in advance.

Is there a reason you are moving to Hamilton? Are you and your partner working in the area or in the western suburbs of the GTA? working from home with potential commute to downtown Toronto occassionally? Working from home permanently? There has been a large influx of people moving out of Toronto so they can afford a home but that has raised the home prices in Hamilton substantially over the past 5 years. Most also discovered that commuting more than 1-2 times a week from Hamilton to Toronto takes too long. Approximately what kind of budget are you looking to spend? Do you want an older home or do you want to purchase in a planned community?

 

[KRP]

Is there a reason you are moving to Hamilton?
YES- I cannot afford the prices quoted in Scarborough.
Are you and your partner working in the area or in the western suburbs of the GTA? working from home with potential commute to downtown Toronto occassionally? Working from home permanently? NO we both work in Scarborough itself.
There has been a large influx of people moving out of Toronto so they can afford a home but that has raised the home prices in Hamilton substantially over the past 5 years.
But still the prices are lower than Scarborough. For example if a detached house is listed in Scarborough for $ 699000 then if you put your offer for say $730000 still no way as you will find these old 60 yr bungalow being sold for $ 930000. But in Hamilton or even Brampton if it is listed at $ 645000 you can still get it in $ 690000. This is what i have experienced.
Most also discovered that commuting more than 1-2 times a week from Hamilton to Toronto takes too long.
Approximately what kind of budget are you looking to spend? Do you want an older home or do you want to purchase in a planned community? I actually planned to step foot in the housing market and later on relocate when situation is favorable. Not in a hurry and then worry.

 

[KRP]

Why not drive around the area? It's not a long drive compare to Niagara Falls.

Yes for sure I will do a recce .

 

[canuck78]

Living in Hamilton and working in Scarborough isn’t really feasible.

 

[Bs65]

Living in Hamilton and working in Scarborough isn’t really feasible.

Maybe need to do a couple road trips in either direction during during peak times to see the reality versus the Google non reality that assumes a clear road.

 

[KRP]

Living in Hamilton and working in Scarborough isn’t really feasible.

You did not get my point. I am planning to buy in Hamilton and rent out the property and will move only when things fall in place. Commuting up and down daily will take a toll on my health.

 

[canuck78]

You did not get my point. I am planning to buy in Hamilton and rent out the property and will move only when things fall in place. Commuting up and down daily will take a toll on my health.

You seem to be doing things backwards. You need to see if you can find jobs in the Hamilton region first. Once you get jobs you may need to rent for 6-12 months while you get a feel for the various areas in Hamilton, get a feel for your new jobs and whether you are happy living in Hamilton then buy. Being a long distance landlord is also not a piece of cake.

 

[KRP]

You seem to be doing things backwards. You need to see if you can find jobs in the Hamilton region first. Once you get jobs you may need to rent for 6-12 months while you get a feel for the various areas in Hamilton, get a feel for your new jobs and whether you are happy living in Hamilton then buy. Being a long distance landlord is also not a piece of cake.

One point if you could answer is if a covid vaccine comes out in 6 to 12 months what would be the scenario.
I feel that most sellers will take maximum advantage over the already helpless buyers and only option if one need to own a place called HOME will be towards a remote rural village somewhere in Yellowstone.
The Banks will also quickly raise the interest rates.

 

[steaky]

The Banks will also quickly raise the interest rates.

Bank of Canada plans to keep interest rate near zero until 2023

https://www.cbc.ca/news/canada/bank-of-canada-rate-decision-1.5779813

 

[Bs65]

I have heard that the housing market in Hamilton has been pretty competitive over last few months with many houses going well over asking price within days of going on sale and often 10-20 potential buyers lining up for the houses worth buying but assume you already know that.

The pandemic seems to be pushing people to finally take the leap and get away from the GTA where being stuck in a 1 or 2 bed condo is enough to drive someone nuts especially with a home working option where it doesnt matter really where they live other than the odd appearance in the office..

 

[KRP]

Been to Hamilton today. Visited most of the places. I would compare this place exactly to Oshawa. Its an old place with very few people on the road. Looks very deserted .
Need to plan very well .

 

[blackmoon2908]

Hamilton doesn't have great reputation with best tenants compared to Burlington and Oakville. Price is getting too high now. 2 years ago it was good investment but not now IMO. Try further away like Brantford or Niagara.
If you invest in Hamilton, look into Stoney Creek, Grimsby and Hamilton Mountain. They are better neighborhood than main Hamilton.