Last week I met with Matthew Kang from CTV to talk about the Kitchener Waterloo Commercial Real Estate Market, and whether or not there is a slowdown due to Research In Motion.

First off, RIM is doing fine.  70 million subscribers; Billions in profit; zero debt.

CTV was talking about a report Colliers released, which was about the state of the Kitchener Waterloo Office Market, and RIM’s recent effect on it. For a copy of the report, send me an email (benjamin AT benjaminbach.com) or a tweet (@benjaminbach)

Here is the video – scoot ahead to 1:14 to hear me.

Kitchener Waterloo Commercial Real Estate – Still Going Strong

As I told Matt, we are seeing a lot of strength in the Kitchener Waterloo office market.  There are two large office projects going forward on spec – where a tenant has not been secured prior to construction, and the owner builds it on speculation – and another large project which will be announced soon.  The two spec projects – The Exchange by Cooper Construction, and The Breithaupt Block by Allied REIT and Perimeter Development -  are large (200,000 and 170,000 square feet) prominent projects, and show a strength in the local market.

We are working with several developers, end users and tenants on office projects right now.  There is definitely  healthy appetite for quality office space in Kitchener Waterloo!

CTV Looks at Kitchener Waterloo Commercial Real Estate

CTV Southwestern Ontario link

Updated: Mon. Oct. 17 2011 5:25 PM ET

Just one week after Blackberries around the world stopped working, a new report by Colliers International suggests Research in Motion is one of the reasons work spaces around Waterloo Region are vacant.

The report says the region saw strong leasing activity in the early part of 2010, but Colliers International says office developers are now a bit more hesitant to commit.

“What’s happening to them is causing some concerns. It’s not big trouble, but on the horizon, people are starting to wonder” says Colliers managing director, Karl Innanen.

Innanen says uncertainty over the tech giant and the condition of global markets is causing office vacancy rates to creep upwards.

In the past six months, office vacancy rose to just over 12 percent. Waterloo has the lowest of the tri-cities at a little over nine percent.

Innanen insists the numbers should not be interpreted as doom and gloom and adds that vacancies can help give new companies a shot at the market.

“They’re also getting the opportunity to get some skilled labour force. People leaving RIM have now been going to technology and other R&D companies.”

Real Estate Agent, Benjamin Bach says for the most part, the report mirrors what he sees in the field, but says there are still some large office development projects going ahead without tenants. He adds some businesses are looking to expand.

“We’re working with a couple of tenants right now that were previously leasing space. Where they’re now taking a look at developing a much larger space where they’re going to be an owner in it. And it’s because they really believe in the long-term economic health of this region.”

The report also says Cambridge is leading the way in terms of the industrial market, while much of Waterloo’s industrial buildings have been or will be converted to office space.

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In Kitchener Waterloo, the largest transaction in this sector that sold was the apartment building at 345 King Street, that sold for over $28 million to an investor represented by our firm Keller Williams. It is a student residence, leased exclusively to a university.

The property on top was the largest multi-family sale on the Kitchener Waterloo MLS in 2009
click to enlarge

For more information about the commercial real estate market in Waterloo Region, contact me today at Benjamin@BenjaminBach.com or call me at 519.772.4376.

KW Commercial is your one stop shop for commercial, investment, retail and multi family advice and brokerage in Waterloo Region.

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Bach on Blogging and Social Media for Real Estate Agents from Benjamin Bach on Vimeo.

You can listen to the info above, and then click play at the bottom of this presentation that’s embedded below

Let me know what you think

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$232,900 ~ A7-175 David Bergey Drive, Kitchener ~ Sat Feb 6^th 2-4pm and Sun Feb 7^th 2-4pm

Great location! Backs onto forest and all amenities close by! Come buy this well maintained 3 bedroom, 2 bathroom home with new hardwood and walkout basement! MLS

$250,000 ~ 123 Rolling Meadows, Kitchener ~ Sat Feb 6^th 2-4pm

Gorgeous single detached family home, 3 bedrooms, 2 bathrooms and rec room.  MLS

$289,900 ~ 58 Brubacher Street, Kitchener ~ Sun Feb 7^th 2-4pm

Imagine having this immaculate home AND a fully Insulated 2.5 Garage at one Great Price! MLS# 1011016

$169,900 ~ 60 Glen Road, Kitchener ~ Sun Feb 7^th 2-4pm

Ideal for First Time Buyers, Empty Nesters & Single Parent Families!  Many Upgrades, Must be Seen! MLS# 1011560

$220,000 ~ 400 Wilson Ave Unit 45, Kitchener ~ Sun Feb 7^th 2-4pm

Well maintained 3 bedroom townhome with finished basement and all appliances included.  MLS

$205,000 ~ 63 Ingleside Drive, Kitchener ~ Sat Feb 6^th 2-4pm

Fantastic Starter Home! Semi-detached 3 bedroom, 2 bath with finished basement and fenced yard! Nicely renovated and ready for immediate possession! MLS

$177,500 ~ 634 Strasburg Road Unit 11, Kitchener ~ Sun Feb 7^th 2-4pm

A beautiful maintenance free 3 bedroom townhome.  This home shines from top to bottom with many upgrades including remodeled kitchen and bathroom, new flooring and new furnace and A/C.  Modern lighting for the perfect comfort of home.  Nothing left to do here just enjoy all this plus a great complex you can’t go wrong!  MLS

$495,000 ~ 4 Venus Cres, Heidelberg ~ Sat Feb 6^th 2-4pm

Relax in your 3 season sunroom overlooking your almost 1/3 acre estate lot before soaking in your indoor hot tub/spa room with skylights! This is the life! MLS

Let the Realtor know that you saw the info on BenjaminBach.com.  Thanks for reading!

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All around signs appear to be brighter than they were this time last year – banks are profitable, confidence is up, employment is on the upswing lately, and the housing market is moving. Ottawa’s Centre for the Study of Living Standards reports shows that consumption has grown in “leaps and bounds” from $30,000* per person in 1981 to $50,000* in 2008. That’s per person, with the average Canadian family being 2.37 people. That brings consumption per family to $118,500 for the average family.

The upcoming Olympics are expected to provide a beneficial influx of money for Canada and for Vancouver. The small business sector in British Columbia has the most optimistic outlook of all provinces in the country, most likely due to the games. The dramatic 253% increase in home sales in the Greater Vancouver area could also be partly fueled by the Olympics.

01 This Month In Real Estate Canada 2010

View more presentations from Keller Williams Realty.

The country appears to have traveled quite a distance over the past year – from the verge of the next depression last year to what appears to be an economy that’s found its way to firmer footing. One example is that most consumers planned on spending more this year on gifts for the holidays this year than last year.

With some concerns that the housing market has rebounded too much, too fast; it is important to keep in mind is that year-over-year increases are compared to an unusually weak year.

Sales activity remained upbeat in November. National resale housing activity had a record-breaking month with 46,450 units trading hands. This stands in sharp contrast to weak activity seen one year ago and is 76 percent above the decade low reached in January. Low interest rates, coupled with upbeat consumer confidence, continue to bolster national sales activity.

The national average home price reached new heights in November, rising 19 percent to $337,231 from the same month last year. This year-over-year increase continues to underscore the sharp rebound in Canada’s priciest markets.

Strong rebounds in home sales activity and average price gains are beginning to draw more sellers back to the market. New listings fell 8 percent from November 2008 but rose 5 percent on a month-over-month basis to 69,110 units. Even with the uptick in new listings, the strong increase in housing demand continues to draw down inventories. Nationally, there were four months of inventory in November, the lowest level in more than two years. The sales-to-listings ratio was 67 percent, signaling a strong seller’s market.

In November, the 5-year conventional mortgage rate edged down to 5.49 percent, 1.26 percent lower than this time last year. As the Bank of Canada reiterates its commitment to hold its benchmark overnight lending rate steady at 0.25 percent until the end of the second quarter of 2010 and with the overall risk to the inflation outlook tilted slightly to the downside, it suggests that the Bank could leave rates unchanged even longer than expected.

In its most recent meeting, the Bank of Canada said that the recovery is becoming more firmly rooted and that it expects its growth forecasts to happen as pictured. The Bank of Canada once again held firm to its commitment to keep rates at their current 0.25 percent until mid-2010. While a strong loonie still represents some risk, it has remained slightly below the Bank’s assumption.

The Bank also heeded caution about the level of debt that consumers are taking on, reminding them to keep the long term in mind since rates will not stay low forever. Those who are taking out adjustable rate mortgages must particularly keep this in mind. As rates increase, their payment will as well. The bank and the finance minister reminded buyers to ensure they are in a financial position to handle increases.

The Canadian economy heavily depends upon trade, particularly on exporting. Due to its close proximity, most of the exports find their way south of the border into the United States. With a hard-hit U.S. economy over the past year, demand from the United States for Canadian products dropped off. Given a better economic climate in the U.S. recently, last month’s demand was up and pushed Canada back up into positive trade surplus territory for the first time in four months.

Much of the economic activity over the past few months has come from domestic demand – Canadians are taking advantage of low interest rates and the banks that will make loans and buying Canadian products with it. So far, this has helped fuel the recovery. While it is too early to know if the increase in exports will become a trend, it is a positive sign. A sustained increase in exports would help take some of the pressure off domestic demand and add additional fuel to the fire in arriving at a truly sustainable recovery.

Indicating that employment will likely be on the rebound over the coming months, the help-wanted index for November was up for the fourth consecutive month.

Most provinces, excluding only Newfoundland and Labrador, saw a rise in job postings. The Conference Board of Canada, the author of the index, stated that this suggests that labour markets across the country have possibly hit bottom.

November’s employment numbers overwhelmingly beat forecasts of 15,000, coming in at 79,000 new jobs. Most of those jobs were concentrated in the services sector. The rise in the help-wanted index could point to a continued trend of increasing employment throughout the country.

According to a survey by Towers Perrin, half of the firms they interviewed froze salaries in 2009, but only 11 percent are expecting to in 2010. This is great news for your average consumer – they can now put the extra from the salary bump toward savings or spending on the many great opportunities with low interest rates, including a new home.

Senior executives, however, may need to wait a little longer as one in five are expected to continue to have their salaries frozen. It’s unclear yet if salaries for the highest earners are readjusting to a new norm or if this will be temporary.

Most salaries are expected to regain much of the ground they lost in 2009. Median salary increases are expected to be 2.5 percent.

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For more info on how you can profit from what’s going on in today’s real estate market, email me at Benjamin@BenjaminBach.com or call 519-772-4376 today for a free, no obligation investment consultation

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$299,900 ~ 207 Lourdes Street, Waterloo ~ Sun October 4th 2-4pm
Beautiful Westmount Bungalow on a tree-lined street, walking distance to most amenities, great for a new family or empty nesters, 3+ bedrooms, 2 baths, original home has an enlarged master bedroom with a walkout to a cozy four seasons room. MLS

$349,900 ~ 484 Dansbury Drive, Waterloo ~ Sat Oct 3rd 2-4 and Sun Oct 4th 2-4pm
Desirable home for sale located close to expressway and RIM park newly build home boasting ceramic tile and hard wood on 9′ main floor ,mid level family room ensuite w/ his/her sinks and stunning tile shower. MLS 0934362

$370,000 ~ 6 Croyden Place, Waterloo ~ Sun October 4th 2-4pm
Highly sought after exclusive Lincoln Village court. Extensive updates up to $30,000. Enjoy large family get togethers. MLS

$440,000 ~ 305 Edgewater Cres, Kitchener ~ Sat Oct 3rd 2-4 and Sun Oct 4th 2-4pm
Relaxing strolls along the Grand River, fun filled afternoons at the nearby playground & basketball courts. Exercise & entertain at Chicopee Ski Hill, tube park & recreational facility. MLS

$650,000 ~ 301 Deer Ridge Drive, Kitchener ~ Sun October 4th 2-4pm
Deer Ridge Estates! Right by Pioneer Tower by Grand River and Deer Ridge Golf Course. $120,000 in basement and yard. Muskoka yard with spectacular outdoor fireplace.MLS

$270,000 ~ 94 Mountain Laurel Cres, Kitchener ~ Sat Oct 3rd 2-4 and Sun Oct 4th 2-4pm Luxury ensuite with jacuzzi bath & separate shower. Oversized 1 1/2 garage! You will be impressed. Sunken living room, on open concept main floor. MLS

$379,900 ~ 83 Old Park Lane, Kitchener ~ Sat October 3rd 1-3pm
Excellent 4+1 bedroom home with 4 baths. MLS

$194,000 ~ 36 Pepperwood Cres, Kitchener ~ Sat Oct 3rd 2-4pm
This is a great starter home for a young family or a great investment home for the investor. Close to schools, shopping and expressway. Carpet free main and upper floors with gleaming hardwood. Walkout from living room to large deck. Fenced yard that backs onto greenbelt. Roof replaced 2009. MLS

$280,000 ~ 63 Dreger Ave, Kitchener ~ Sun October 4th 2-4pm
Great Stanley Park home located on quiet street backing onto greenbelt with large fenced yard. Home has been repainted, newer roof(06), newer furnace and A/C(05) completely finished rec room(09). Move in and enjoy! MLS

$319,900 ~ 520 Robert Ferrie Drive, Kitchener ~ Sun October 4th 2-4pm
Best value in desirable Doon South area! 3 bedrooms, 3 bathrooms, the large master bedroom has a walk-in closet and an ensuite. Open concept main floor with walkout to nice deck and deep lot. Ready for your offer. MLS

$269,900 ~ 119 Stiefelmeyer, Baden ~ Sun October 4th 2-4pm
Amazing Bungalow built in 2003. MLS

$399,000 ~ 34 Coral Gables Cres, Elmira ~ Sat Oct 3rd 1-4 and Sun Oct 4th 1-4pm
4 Bedroom, 3 Bathroom Model Home. 9′ Main floor, Master bedroom has a luxurious 5pc ensuite. Maple (gourmet kitchen, 2 sink bathroom vanities, and stairs). Family room with gas fireplace, extensive use of travertine natural stone & maple floors. Double car garage, asphalt driveway, Lot frontage 50′. MLS

$80,000 ~ 204-234 Willow Rd, Guelph ~ Sun October 4th 2-4pm
Why pay rent when you can own! Single bedroom condo apartment, in excellent condition, appliances included. The best value for the money. Ready to move in. This is a rare opportunity not to be missed! MLS

Take a look at these beautiful homes this weekend, and let the real estate agent at the home know I sent you

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$450,000 ~ 297 Waterbend, Kitchener ~ Saturday June 6^th 2-4pm

Gorgeous open concept 4 bedroom home near Chicopee ski hill.  Huge master suite with giant walk in closet (could be 5th bedroom) and luxury ensuite make this the perfect home for you.

$112,900 ~ 703-279 Chandler Drive, Kitchener ~ Saturday June 6^th 2-4pm

Spacious 2 Bedroom in a clean and well maintained condo building with huge balcony, air conditioner, indoor garage, sauna and exercise room. MLS 0918084

$220,000 ~ 123 Greendale Cres, Kitchener ~ Saturday June 6^th 2-4pm and Sunday June 7^th 2-4pm

Raise your children in family neighbourhood, just steps to the park.  Great bungalow on quiet crescent, close to schools, shopping, and 401.  Features newer furnace (5 yrs.) Newer siding and roof (6 yrs.). Bright eat-in kitchen, finished rec room.   MLS 0921414

$169,900 ~ B20-211 Veronica Drive, Kitchener ~ Sunday June 7^th 2-4pm

Single professional or just beginning – Immaculate freehold condo, completely renovated – Quiet well run complex.  MLS

$313,300 ~ 124 Old Park Lane, Kitchener ~ Saturday June 6^th 2-4:30pm and Sunday June 7^th 2-4:30pm

Desirable area, close to schools and shopping.  4 bedrooms, Double garage, sky light above circular stairs, hardwood.  Priced for quick sale.  Motivated sellers.  MLS

$200,000 ~ 8D-45 Cedarhill Cres, Kitchener ~ Saturday June 6^th 2-4pm and Sunday June 7^th 2-4pm

Say ‘Good Buy’ to renting with this spacious 3 bedroom 2 bath condominium in desirable Alpine Village!  Close to expressway, 401, and all amenities.  MLS # 0914294

$195,000 ~ 9 Roberts Cres, Kitchener ~ Sunday June 7^th 2-4pm

Newly renovated and extremely affordable semi-detached home in Alpine Village.  Features include new flooring, new roof to be installed June 2009, and large backyard.  Perfect home for the first time home buyer! MLS 0921045

$250,000 ~ 226 Rosemount Drive, Kitchener ~ Sunday June 7^th 2-4pm

Families will gather here often! Dining room and kitchen over 30′ with sliders to private deck. Mrs. Clean lives here.  MLS

$219,900 ~ 29 Bond Street, Kitchener ~ Sunday June 7^th 2-4pm

Cute, cozy bungalow, 3 bedrooms, 2 bathroom home.  Many upgrades done.  MLS

$369,900 ~ 767 Columbia Forest Blvd, Waterloo ~ Saturday June 6^th 1-3pm

Beautiful 3+1 Bedroom, 3 Bathroom, double car garage. Hardwood on main floor, gorgeous kitchen and all appliances included. Finished Walk-out basement with gas fireplace.  Backs onto ravine giving peaceful environment to relax from a long day at the office. Nice landscaped tiered gardens and no more grass to cut. MLS

$227,900 ~ 122 Christopher Drive, Waterloo ~ Saturday June 6^th 2-4pm and Sunday June 7^th 1-2:30pm

Walk to high school and elementary school in this safe family oriented neighbourhood.  MLS

$200,000 ~ 14B-139 Brighton Street, Waterloo ~ Sunday June 7^th 2-4pm

The seller says no car needed.. we walk everywhere! Carpet free, nestled by parklands & trails. MLS

$459,900 ~ 146 Reiber Court, Waterloo ~ Sunday June 7^th 2-4pm

Tranquil setting – enjoy nature and quiet reflection. Gorgeous bungalow, 5 years young, backing onto treed greenbelt on a quiet court, finished bright walkout basement with a recreation room, 2 gas fireplaces, 4 bedrooms in total and 3 bathrooms, open concept main level with hardwood floors, 9 foot ceilings, separate dining room, master with ensuite, eat-in kitchen with w/o to large deck. MLS

$309,900 ~ 24-52 Blue Springs Drive, Waterloo ~ Saturday June 6^th 2-4pm

The “Cloisters” condos provide the best of both worlds, the serenity of country living with the convenience of city style! This spacious and well-maintained main floor unit features updated kitchen, huge master bedroom with ensuite, membership to The Club Willowells, huge walk-in closets, ensuite laundry and so much more. Just minutes to walk to shopping and restaurants, very private and conveniently located.  Do not miss this opportunity, it will not last long. MLS  0921116

$268,000 ~ 50 Spring Wagon Lane, Elmira ~ Sunday June 7^th 2-4pm

Easy to love, easy to afford!  This desirable 2 Storey features many amazing upgrades including finished Rec Room with extra bedroom/office, main floor laundry, air conditioning and all appliances included!  Yard is a good size with patio off dining room, and storage shed in back.  Beautifully kept, freshly painted with a modern colour palette, this gorgeous house is move in ready!  MLS 0921537

$420,000 ~ 34 Coral Gables Cres, Elmira ~ Saturday June 6^th 2-4pm and Sunday June 7^th 2-4pm

New Price, Model Home. Impressive design. 9′ Main floor, Master bedroom has a luxurious 5pc ensuite. Maple (gourmet kitchen, 2 sink bathroom vanities,  and stairs). Family room with gas fireplace, extensive use of travertine natural stone & maple floors. Double car garage, Lot frontage 50′ MLS

$269,900 ~ 32 Woolwich Street South, Breslau ~ Saturday June 6^th 1-3pm

Amazing view of the river!  MLS 0927179

$170,000 ~ 121 Union Street, Cambridge ~ Saturday June 6^th 2-4pm and Sunday June 7^th 2-4pm

Allergy free…..carpet free. Well maintained cozy 2 storey freehold townhouse.  MLS

$247,649 ~ 72 Schiedell, Guelph ~ Sunday June 7^th 2-4pm

Great Value, Family friendly neighbourhood, almost new, spacious semi-detached, finished top to bottom, close to schools, shopping and Guelph Lake.  Ready to move in.  Seller motivated!  MLS 0924845

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There are many condominiums in the Kitchener Waterloo area – our thriving community in Southwestern Ontario – especially at this attractive, accessible entry level price point.

How can an Investor know which complexes to invest in – to separate the duds from the great investment opportunities ?  Here are a few things to keep in mind:

Here are 3 things you need to look at before you make the decision to invest in a condo:

1) Location Location Location!

This is the #1 non negotiable aspect of a real estate investment, whether it’s a condominium or a student complex.  One of our investor’s owns complex under contract at a prime corner a stone’s throw from Wilfird Laurier University (and yes, I have the arm to make that throw – I was a pitcher in little league!) in Waterloo.  There is an intrinsic value in the location of a property that you can’t change or upgrade later on.

Some of my favourite investments are on the outskirts of the city, where lots of growth and development is taking place.  For example, we have a unit in a complex very close to where Smartcentres just opened a new Mega centre anchored by a Walmart.  When a major Real Estate company like Smartcentres invests millions into a new development, I feel confident investing a few thousand dollars to buy a condo for $120,000 (and many of our clients have bought units in this complex too).

There are also some great opportunities for equity growth in the city centre, an area that is seeing lots of rejuvenation.  There are several new projects downtown that are attractive, and one of them is right across the street from the brand new  (still under construction) University of Waterloo Downtown Kitchener Health Sciences Campus and a satellite campus of the McMaster School of Medicine, and the University of Waterloo School of Pharmacy.  We have clients who have succesfully invested in the landmark Kaufman Lofts building, and we can show you how this investment can work well for you too.

2) Age & Condition

I typically like condominium complexes that are less than 25 years old. There are some older complexes in good shape, but often the older buildings have higher maintenance and repair fees.

Interior cosmetic condition of the unit (paint, flooring, decorations etc) isn’t such a big concern for me – I like a condo that needs updating! I can get a better price on it than a unit that is staged and presented properly.  Once I update it, I’ll be able to generate more revenue from the unit, raising the value, and my cash flow.

Amenities of the building are important to consider – while a pool, exercise room and guest suite might be amenities you’re happy to pay for when you’re living in a condo community, they aren’t usually things you want to pay for your tenants to use (high end complexes excluded).  Buildings with these amenities will usually have condo fees that are hundreds of dollars higher than condos without them.

Another BIG BONUS with buying newer condos is that properties built since Nov 1 1991 are partially exempt from rental increase guidelines laid out in the Residential Tenancies Act.  Curious ?  Contact me and I’ll explain how this can work out in your favour!

3) Financial Health of the Condominium Corporation

When you invest in a Condo in Ontario, you’re buying part of the condominium corporation, and a specific interest and title in that condo unit. If you buy a condo in a complex that is not financially well managed, they corporation may come to you (as an owner) and demand a ‘contribution,’ which is likely allowed under the specific by-laws of the corporation.  They’ll probably call it a ‘special assessment,’ but that won’t make you any happier about paying it

What you want to look for is the Reserve Fund – this is cash set aside for repairs and maintenance, including planned and unplanned work.  A corporation should be able to provide you with a reserve fund study, and an accounting of what has been spent in past years, and what is budgeting for future years.

This information will be contained in the Status Certificate for the condo.  This certificate, which is a series of documents, costs $100 and has to be purchased anytime you buy a condo in Ontario.  It contains information on the corporation, it’s directors, by-laws, governing documents, articles of incorporation, special addendums, financial documents, possible minutes from past Annual General Meetings of the Board of Directors etc.  Some Status Certificates will contain more than others.  Allow 10 business days to receive this, and then another day or two to review it with your lawyer.

You’ll want to read over, and understand, the operating budget of the corporation.  If there is zero money budgeting for snow removal….  better buy a good shovel

Whenever you’re buying a property you should have a Fiduciary professional representation and advice.  When you’re investing your hard earned investment capital – often your nest egg -  this is even more critical.  Buying and owning a condominium is different than a standard ‘freehold’ property (where you solely own the property), and you need someone to guide you through the intricacies and ensure your profit is being maximized.

There are currently great opportunities in the Kitchener Waterloo Condominium market – if you are interested in increasing the rate of return on your equity, email me right now to set up a Free 30 minute investment consultation.

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Originally built in 1908, the building was formerly the Kaufman Footwear Plant.

One client saw a 750 sq foot unit in Waterloo for $135,000, and preferred the 710 sq foot Kaufman Loft at $210,000. The loft has a ‘cachet’ that just isn’t seen in most other developments in the area.

OK – people want to buy these to live in… but this brings us to the question: Is this an appealing real estate investment?

One of the biggest factors is location.

Located right on the corner of King St and Victoria Street in Kitchener, Ontario, it sits across from the brand new Downtown Kitchener Health Sciences Campus – which will house the University of Waterloo School of Pharmacy, the McMaster School of Medicine and the UW Optometry School.

OK – the condo’s are across the street from the new university campus. Sounds pretty good so far – let’s look into it a bit more.

* The school is projected to have 480 undergraduate and 70 graduate students, 50 faculty and staff.
* Upon completion, the UW Downtown Kitchener Health Sciences Campus expected
to bring hundreds of faculty members and staff to the city’s core each day.

This is no ordinary campus – it’s a campus full of people studying to be professionals, not regular undergraduates.

Most of these students tend to be academic-focused, want a nice, clean rental property near campus, and demand little else.

For the convenience, cleanliness and cachet, they’re usually willing to pay a premium.

I’ve seen 1 bedroom units renting between $1,000 and $1,200 a month, depending on upgrades and square footage.

Pretty healthy rental rates, but not a surprise when you consider how tight the rental market is in Kitchener Waterloo right now (click to read Vacancy Rate Falls in Kitchener Waterloo – Again).

What are the condos like inside?

This gorgeous 1 bedroom condominium at Kaufman (410 King Street West) recently sold in the low $180,000′s.

It features polished concrete floors, twelve foot high ceilings, exposed ductwork and access to a roof top patio.

More things your future tenants will appreciate are the upgraded cabinets, luxurious Kitchen featuring a granite island,
stainless steel appliances, electric fireplace and an upgraded deep soaker tub.

How have these units performed for investors so far?

Great question! Let’s take a look at some numbers.

“When the lofts were first introduced to the market by the builder, prices ranged from $114,990 for a 515 sq. ft. unit, to $197,990 for a 1,120 sq. ft. unit. On a per square foot basis they averaged $203. Today, on the resale market, sold units have ranged from just under $150,000 to $299,900 with an average per square foot price of $281. For those original buyers of Phase 1 units (those who purchased prior to the builder adding two storys, increasing the number of units from 113 to 155 and the prices to an average of $249 per square foot) that means they have seen an average appreciation of 38 percent.”(source Exchange Morning Post (Exchange Magazine, March 17 2008)

Since Exchange published the story above, recent sales of condos in the complex have had listed prices between $164,900 and $219,900.

Currently there are available units with listed prices between $167,700 and $304,900.

If you are interested in learning about how a Kaufman Loft in Kitchener can fit into your real estate investment portfolio, call me now @ 519 570 4447 or send me an email.

I promise you a free, no obligation, educational discussion about your developing & reaching personal real estate goals.

Doesn’t get much easier than that.

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Related Real Estate Investment Articles:

Real Estate Investment Tip: Raising Rent on Rental Units in Ontario

Top 10 Reasons to Invest in Kitchener Waterloo Real Estate

3 Things You Should Look For Before Investing in a Condo in Kitchener Waterloo

New Report Released About Kitchener Waterloo Real Estate

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