Having an amazing university within a city brings many benefits such as education, culture, status, and much more. The University of Guelph started out as the Ontario School of Agriculture, which was founded on May 1, 1874. It only became what it is today in 1964, therefore, many are unaware of its origins. However, what can't be missed is the unique and interesting atmosphere that it brings to Guelph. There are many reasons why the university makes Guelph a more desirable place to buy real estate so we put a list together to highlight some points that stand out:
Having a university around means that there will be a lot of students that need somewhere to live, who most likely don't have the cash needed to put a down payment on a home or condo. This gives the Guelph real estate market an advantage when looking for a cash-flow producing investment properties since there is such a high demand. Even if you're not interested in buying a property solely for investment purposes, you could buy a property that has the capability for you to rent an extra room or section out, which can be used to help pay for your mortgage. Since investing in real estate can be overwhelming at times we recommend speaking with a realtor who has extensive experience handling such deals.
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Owning a home that is located close to a university is proven to provide you with a premium at selling time. There have been a number of studies on this topic and have almost all revealed that this significant price jump is present. Although this may make it harder to get into such areas it can be worth while in the long run especially if you've decided to take the previous tip on renting out an extra part of your home to a student. This price difference is undoubtedly because of the demand for properties in close proximity to the U of G to utilize as investments, however, it's also due to the atmosphere the university brings, which is an extremely sought after thing for many buyers.
University students need good public transportation and close by amenities to have a great student living experience. Guelph like most other universities offer the students these essentials and even go beyond expectations in certain areas. The great thing about this is that even if you're not a student you can reap the benefits of great public transportation systems and close by amenities. Overall, this makes living in Guelph easier and more desirable.
If you're thinking about moving to Guelph or have any Guelph related real estate questions, feel free to contact the DiLoreto & Long Real Estate Team