Why Oshawa Homes are a Great Investment
Oshawa has a bad reputation. If you talk to the people who live close to it, they will describe it as a place riddled with crime and low quality properties because that’s how it has always been. What these people don’t know is how it will end up benefitting them; Oshawa has been getting better every year. So is now the best time to buy a home in Oshawa? No, we think a few years ago was the best time, but these days aren’t bad either. The bad reputation of the different areas in Oshawa was well earned of what happened two decades ago, but since then, the areas have steadily been becoming better.
How fast is the crime rate dropping in Oshawa? In 2012, Oshawa hit a five year low record for crimes committed. In 2015, Allan Furlong, the Vice Chair at the Durham Police Services Board, announced that crime rates were still dropping across the region. There is a renewed focus by the government as well which has led to better school projects. Oshawa had some bad schools where many students were not performing well due to many economical factors. The local district started a program for the 12 schools which were in the poorest areas, and over the last 3 years, the results have been so astounding that the district has published a blueprint so that it can be followed by other similar areas as well.
What is the link between all this and investments? As the area keeps getting better, the prices of the properties will continue rising. The link between crime in an area and property values is a well studied one. It isn’t just common sense; the effect has been studied many times around the world and there has always been a link between rising property values and dropping crime rates. The one catch is that the perceived crime rate is, according to these studies, much more important than the actual crime rate.
That is what makes homes in Oshawa a great investment; people’s perception is still behind the times. People still think of Oshawa as a city which has a crime problem, and thus the property values are low right now. As the trend of dropping crime rate continues, soon the crime rate of Oshawa will be very low, which will also change the perceptions people have about it. If you are looking for an investment in real estate which is highly likely to increase in value, we think Oshawa might be it.
We expect the prices to keep rising as people keep getting wiser. It is even being reported elsewhere that Oshawa is one of the best places in Canada to make a real estate investment in, coming in at 10 out of the top 35 cities. Durham overall is also doing excellent; it had the second highest rate of property value increase all over the country. As news like this keeps coming out, it is obvious that people’s perceptions will change and values will go even higher.