Real Estate Market in Rural Ontario

treeWhen people consider buying property or real estate trends, there is a great focus on the more urban parts of the country. This is true when people look at real estate in Ontario as well. Forecasts and the accumulation of information are typically regarding the major cities in the area. However, it is also important to consider the property performance in rural areas as well. It can be just as much indicative of the strength or the weakness of the economy. It can also help you to determine whether it makes more fiscal sense to live in an urban area or a rural one. Here are a few things to think about with the rural Ontario real estate industry:

Getting a Mortgage in Rural Ontario

While homes in rural Ontario may be cheaper, it is not always as easy to get a mortgage for such properties. This is especially true if you are trying to get a bank to provide you with a loan for a house in these areas – see here: https://www.lifeoncredit.ca/. This is due to several reasons. First, although the real estate industry may be hitting an all-time high, many authorities hold a dim view of the overall future economy. Banks and other major financial institutions are also following this forecast as well. The result of this suspicion is that banks are being quite selective of whom they hand over the mortgages to.

Banks get even more stringent when it comes to providing mortgages for rural properties. This is due to the fear of borrowers defaulting on their loans – see here: https://www.lifeoncredit.ca/bad-credit-personal-loans-in-canada/. Of course, in this instance, the banks are able to repossess the homes. However, it does become more difficult for them to sell. While the demand for rural housing is increasing, it still does not appear to be as high as in the urban areas. As such, banks consider this to be somewhat of a risk.

Private Mortgage Lenders

Potential homeowners are then left to seek financial aid elsewhere. This typically involves going to private mortgage lenders or other institutions that are willing to provide loans – see here: https://www.lifeoncredit.ca/getting-out-of-debt-get-a-chance-with-debt-consolidation-loans/. Depending on the acreage of the property, there may be certain cases that fall under the jurisdiction of farm loans as well. Buyers are then able to opt for these types of loans too.

This is the current situation regarding real estate trends and mortgages in the various regions of rural Ontario.

Real Estate Trends

For the most part, real estate trends in rural Ontario are being determined by those that are taking place in the urban sector. In 2016, real estate prices in the major cities began to soar. Overall, within the span of a year, house prices have increased by a stunning 11.42 percent. This is more than twice the rate of the previous year. This has been on a national level for housing types of all kinds, including single unit family homes as well as apartments.

However, when taking into consideration major cities such as Toronto and Ottawa, the rise has truly been remarkable. In the Greater Toronto Area, the average house price is almost half a million dollars. In areas such as Ottawa, the price is lower, but still, nonetheless, quite high. These skyrocketing prices are compounded by another factor – space. Not only are housing prices increasing, there are also now fewer units available than before.

For many individuals, these high costs are not feasible, and so this has left many with several choices including moving to rural areas. This means that homes in rural areas are experiencing greater demand. This is not the only reason that the housing market in rural Ontario is receiving a boost, however. There were many poorly performing towns that are now beginning to see a turn around. This is encouraging many homeowners to begin buying homes once more. Windsor is just one such example of this particular trend.

Finding Jobs in Rural Ontario

roadIt can be difficult to find a job wherever you may go, but it tends to be harder in a rural area. You may be fresh out of school or college, or you may have just moved to the area. Whatever your concern, know that it may not be that hard to get employment. Here are several tips and some useful information to help you find a job in the area.

Consider Your Skills

You may actually have better employment opportunities in these kinds of areas than in big cities, depending on your skills and knowledge. This is because there is a tendency for highly skilled individuals to seek employment in the city, leaving rural towns dry and in need of professionals. Find out what services are lacking in your town and see if your skills apply. You may be able to find employment at an understaffed office or store, but you may also be able to start your own business.

Look for Jobs That Allow Telecommuting

Depending on your area of expertise, you may be able to work from home. Nowadays, many companies find it easier and cheaper to have a large number of their employees telecommute for work. This will be a lot easier on you as well, since you will not have to keep travelling into the city.

Visit the Local Website

Check out web pages that help people to find jobs. The Ontario.ca website, for instance, has several pages exclusively for job searches. You will be able to find jobs based on your area of residence and your skills. You can even find training programs that can enhance your current abilities or give your new skills. The website also has a live chat option, and you can even meet with one of their counselors to get assistance. You may also find some employment opportunities on sites like ca.indeed.com. Here, you will be able to search for jobs that fit your skills, your desired salary, and many other factors. Often, job search sites will allow you to upload your resume for potential employers looking for people like you for a particular employment opportunity.

Try a Different Field

If you have tried all of the above and don’t seem to be getting anywhere, you may need to start looking at other options. You may even have to settle for something else. There are plenty of jobs that don’t require a degree or major skills that you can do from home or in your town. Alternatively, you can take some time, if you have it, to learn a new skill and seek employment in that particular field. You can do a bit of research about what kind of jobs are available or what skills and services are lacking in the area. You will then have a good idea of what kind of training you would need.

Don’t Be Picky

If push really comes to shove, you will have to choose a job that you may not like. Or, it may not pay as well as you would have hoped. However, this does not need to be permanent. For starters, you could end up moving quickly up the corporate ladder. In addition, a new job opportunity could open up later that does suit your needs. If you are really strapped for cash and time, it may be necessary to pick a less than desirable job. However, you shouldn’t end the search for your ideal employment opportunity.

The important thing to remember is that you must not give up on your search. It may take time, but you can find employment in your area. Use the resources online, ask around about vacant positions, and widen your scope of alternative occupations.