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Is Prince Edward County the place to be?

May 21, 2021 | Buying

If you aren’t familiar with PEC, we aren’t sure what rock you have been hiding under, but let us bring you up to speed.

Prince Edward County is a charming region in east Ontario, known for its country charm, local wines and vibrant culture! The County has become a staycation hotspot for Torontonians, as well as a destination for many savvy tourists each year, 1,000,000 to be specific.

While Prince Edward County has been growing and thriving for the past decade, we have seen astounding growth in the number of people making their stay a little more permanent this past year. With WFH freedom, the county life has drawn in many new residents, seeking a slower pace and a scenic surrounding.

Prince Edward County outpaced both major and small cities throughout the country, with the highest year over year price growth at a whopping 79%.

For those that have dreamt of a primary residence, second home, or investment property in the County, don’t let this growth scare you! Prince Edward County has seen some big moves, as have most markets this past year, but that doesn’t mean that there aren’t great opportunities remaining in the market.

Why do we still feel this is a great market?

Proximity

Prince Edward County is conveniently located a mere 2 hours from Toronto, making it a light commute to country bliss!

 

Waterfront

If you’re thinking, sounds cool, but i’d rather be in Muskoka by the lake; think again! The County boasts plenty of waterfront opportunities without the Muskoka price tag. Enjoy your own private beach, boat around on the weekend, or if you don’t purchase on the water, enjoy the many public options for lakeside fun.

Short-term rental opportunity

Be it an investment property for full time rental or a personal property that you rent out part time to cover your costs, Prince Edward County is said to be the fastest growing community on Airbnb and good short-term rental homes booked solid throughout the warmer months. If you’re looking to invest in a positive cash-flow property in an area where prices are increasing, consider the County – though note that the county has recently approved some regulations for Airbnb properties.

Options

There are tons of great housing options in Prince Edward County (and it’s affordable too). Whether you’re looking for a sprawling country property, character-filled century home, 3-season waterfront cottage, hassle-free condo or retirement community, you’ll be sure to find it here.

Small Town feel, big city amenities

Prince Edward has all of the charming small town vibes you would hope for; slow pace, friendly neighbours, cute local shops and vendors. But you will also find the services and amenities that you’re used to closer to the city. Outside of the County proper, Belleville, Trenton, and Kingston are a quick commute for spots like Costco, Home Depot or Walmart.

It’s a good time to leverage your equity

If you own a home in the GTA (where prices have seen strong appreciation over the last five years), now could be the perfect time to pull out some equity to invest in a home in the County! Want to know more about leveraging your home in order to invest? Go to our Investing page to download our free investing guide.

If you have been watching the County for as long as we have, now is as good a time as any, to make your dreams a reality and take action!

 

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