If you are like many people stunned by the rising costs of real estate in urban centres like Toronto you may be pondering a move to the suburbs, specifically west of the GTA. But if you aren’t familiar with the area where do you look? How much are houses and what do you get for your money? Rockwood is located north west of the GTA in Guelph Eramosa and has become a popular relocation community. As with almost everywhere, prices have risen here as well, but I do believe there is better value for your money in Rockwood.
To help give an indication of prices I have investigated and compared four types of houses in Rockwood, Guelph and Milton. I chose Milton because its the most western community in the GTA and has seen huge growth in recent years. Rockwood and Guelph both border Milton, have also grown and are affordable areas to buy that are within a ‘decent’ commute to the GTA.
This is by no means an in depth analysis; it is a general representation of what the average houses in comparable neighbourhoods in each category sold for between August to December 2017. Condos didn’t make the list as there are very few in Rockwood.
Large detached homes 5-10 years old. Move in ready and what I call an ‘HGTV’ home; beautiful from top to bottom, hardwood, granite, upgrades and more. All have unfinished basements.
Freehold townhomes between 15-20 years old. All move in ready with average finishes and all have unfinished basements.
Detached 30+ year houses in older areas. All need updating/work and have a finished rec room in the basement.
Detached houses 50+ years old. Move in ready, in older neighbourhood and no garage.
Overall, Rockwood will give you the best bang for your buck if you buy a newer detached or freehold townhome under 20 years old, followed by Guelph in the middle and Milton being the most expensive. Houses 50+ years old are the best value in Rockwood with Guelph in close second, while buyers in Milton are willing to pay a premium to live in old established neighbourhoods. Guelph will give you the best price for 30+ year houses that need work followed by Rockwood and Milton. I believe Rockwood came second in this category due to supply and demand; Guelph is larger and older and therefore has more houses needing work which drives the price down. While property taxes are lower in Milton, you can expect to pay quite a bit more for a house.
Of course the house isn’t the only consideration when choosing where to buy. Putting a monetary value on neighbourhoods, amenities and lifestyle is hard because its subjective. If you are looking for more than just a house Rockwood has it all! As a resident and local Realtor®, I am biased, but in my opinion it really is the best place to live!