Guelph is a wonderful place to live, with its conservatory lake and bustling downtown. It’s no wonder its populace is expected to increase in the coming years. Buying a home here is an excellent idea, but you don’t want to end up in a poor neighborhood or in a situation where you’re too far from amenities.
That’s why I’ve put together a list of my top 5 new condos in Guelph that you can register today. I’ve also included a few tips on condo-buying in this area and how the real estate market is looking.
Let’s dive in.
Top 5 Pre-Construction Condos in Guelph That are Selling Now:
1. Edgewater Condos
The Edgewater Condos are developed by Tricar and are located at 71 Wyndham Street South. This 14-story condominium is right in the heart of the city, with 139 units available. The estimated move-in date is 2023.
The Edgewater Condos is located in a highly coveted area in Guelph, within the bustling crowds of downtown. Any homeowner looking for an urban lifestyle will find an ideal home here. It has a modern design with an accenting brick podium. Homeowners can enjoy underground parking and parking spaces for electric vehicles. Units are designed to look bright and open.
West Peak Condos is located at 201 Elmira Road South and developed by E Squared Developments. West Peak Condos consists of three mid-rise buildings with about 377 units spread throughout them at 8 stories each. It’s available for move-in in 2023.
West Peak Condos sits in the downtown of Guelph, offering its residents an urban lifestyle and nearby amenities. These condos will offer 1, 2, and 3-bedroom options with floor spaces ranging from about 569 to 1,577 square feet. The list of amenities for West Peak Condos includes a water fountain, outdoor area,co-working space, and a nearby park.
Anthem at the Metalworks Condos is located on Arthur Street South and is developed by Fusion Homes. It’s in the downtown of Guelph with a move-in date of 2025. The Anthem at the Metalworks Condos is designed with a glass texture, leaning towards more of a classic design. The units inside are fully designed with modern finishes and top-of-the-line appliances.
Anthem at the Metalworks Condos has a number of amenities homeowners will be able to enjoy, such as underground parking, a gym, recreational and media rooms, and guest suites.
Argyle Village is located at 1563-1579 Gordon Street, headed by Reid’s Heritage Properties. Argyle Village is in the pre-construction phase and consists of six proposed buildings, all three and a half stories high, offering 126 units to prospective homebuyers. There is currently no determined move-in date for this property.
The landscaper in charge of this project is Natural Resource Solutions Inc. The engineering head is Stantec, Natural Resource Solutions Inc. Planning and urban design will be headed by MHBC Planning.
Terra View Homes is developing Terra Condos, which consists of a new building as high as 4 stories. It is located on 75 Shakespeare Drive and prides itself on being one of Canada’s first carbon-neutral condominiums. It derives its sources of energy from solar and geothermal energies. There is currently no move-in date for this pre-construction condo.
Terra Condos offers its residents walking access to the nearby Guelph Lake Conservation Area, allowing homeowners to enjoy the outdoors and explore the trails – all in the comfort of their backyard. Included in Terra Condos amenities are covered parking, geothermal temperature control, and car charging stations.
Guelph’s condo real estate market is a bit slow due to higher interest rates, according to CREA (Canadian Real Estate Association) (1).
Yearly sales have dropped to record lows since 2003. This is mainly due to high interest rates slowing the housing market down. However, a little bit of confidence is all Guelph’s housing market needs from potential buyers to turn the market around. There are plenty of active listings, and sellers are ready to offer new and old condos.
For a bit of comparison between the types of property, the average price for a single-family home in Guelph remained unchanged, shifting up slightly by 0.8% yearly to $894,800. Townhouses also saw a slight increase of 0.5% to $656,400. In contrast, apartments and condos saw a slight decrease of 0.1% to $535,500.
Apartment and condo sales decreased slightly in the last quarter of 2023 by 12 sales for a total of 75 sales. This is in comparison to sales in 2022, which were slightly higher.
In addition, apartment and condo annual sales in 2023 totaled 470 sales, which was down by 8.4% as compared to the year 2022, when 513 units were sold.
5 Best Neighbourhoods in Guelph
1. Downtown Guelph
Downtown Guelph is where the magic happens. If there’s a scene in Guelph, it happens here. It is an exceptionally desirable neighborhood with its fair pick of parks and tree-lined streets. There are also a plethora of restaurants, shops, and bars to choose from. Young families and professionals are the most common demographic in this area of town. Downtown Guelph is approachable and serene, allowing you to go out for a bite, and then hide away in the quiet recluse of a park.
Its highly desirable spot makes the homes and condos here slightly more expensive. Condos in this area of town are going for roughly $599,900.
2. Westminster Woods
The south end of Guelph is filled with new communities, one of them including Westminster Woods. Westminster has become one of the most popular neighborhoods due to its closeness to the 501 bus stop, which is ideal for students or young professionals on the move. There are well-built and maintained trails throughout this neighborhood that attract nature lovers and those seeking to get away from the bustle of life. When families and professionals consider moving to Guelph, Westminster Woods is typically at the top of their list.
The area, homes, and condos in this area of town are beautiful. Westminster Woods tries to remain as affordable as possible, especially for commuters. However, it is also considered one of the more expensive neighborhoods. The price of condos in this area is typically around $464,900.
3. Kortright East
Located just south of the University of Guelph, Kortright East is a peaceful and small neighborhood. What plays a large role in its peacefulness is that Kortright East is made up mainly of the retirement community. Homeowners who live here are within walking distance of the university. Downtown Guelph is only a bus ride or a 5-minute car ride away. There is a balance of peacefulness and nearness to the heart of town that residents in Kortright East enjoy.
The average price of condos in this area is around $589,900.
4. Old University
The Old University neighborhood is situated near downtown and the University of Guelph, making it very desirable. Students and business-savvy individuals are attracted to this area due to the influx of students hoping to rent here. Public transit is less of a need here for students as downtown and the university are both just a 10-minute walk away. Families and professionals will enjoy this area of town due to the Old University’s proximity to The Hanlon, Guelph’s major highway.
Condos in this area of the city go for around $549,900.
5. Kortright West
Kortright West is just south of the university and is a place filled with old and new homes, new condos, and parks. It is a short walk or drive to the university or downtown, making it a useful location to live in. If prospective homeowners need access to The Hanlon, this highway borders this neighborhood for convenient access. There are plenty of amenities for the curious shopper, such as Stone Road Mall. Residents will enjoy the benefits of being near the heart of the city in this area.
Condos in Kortright West typically go for around $549,000.
Future of Pre-Construction Condos in Guelph
The future of pre-construction condos in Guelph looks bright. According to Statistics Canada, the population of Guelph increased from 2016 to 2021 by a total of 11,651 for a population total of 144,356 (2). This upward trend is expected to continue through 2024 for an estimated total of around 155,578 (3).
This influx of people moving to Guelph increases demand for new structures, such as condos, to be built. Many condo projects are being proposed, like the new condo towers proposed for Guelph’s Baker District (4).
Pros and Cons of Living in Guelph
There are many pros and cons worth considering before choosing Guelph as a forever home. I’ve listed a few of the major pros and cons of Guelph below.
Pros
Cons
The variety of the industry and job opportunities protect Guelph from most of the ups and downs felt by other cities nearby.
The cost of living is fairly high here, making Guelph somewhat unaffordable. However, it is still better than the GTA.
There are plenty of amenities and attractions within the city, plus a growing arts scene that gives the city its richness.
There isn’t a lot of diversity in Guelph.
Guelph is close enough to Toronto to allow for short trips into the neighboring city for concerts and games.
Guelph is only 45 minutes away from Lake Ontario for the enthusiastic nature lover.
3 Tips on Buying Pre-construction Condos in Guelph
Below, I’ve listed 3 tips you’ll want to consider before choosing a new condo in Guelph.
Consider the location.
Consider future urban plans.
Consider your builder.
Consider the Location
The location you choose will have a drastic impact on your daily living. I would suggest, if you want a downtown lifestyle, it‘s best to live as close to downtown as possible. If you want to be surrounded by students and quiet, it’s best to live in or near the Old University neighborhood.
Consider Future Urban Plans
A city like Guelph is always growing and becoming better, as seen by many renovation and new development projects. If you want to be close to the proposed LRT system, I would suggest looking for a pre-construction condo that specifies it will be within walking distance.
Research Your Builder
Always research your builder before committing to a new condo. This helps to ensure your condo lives up to your expectations. See their portfolio and what designs they have planned. Also, look at their reviews to get a feel for how general customers like them.
Transportation System in Guelph
The transportation system in Guelph is robust for a small city, with adequate routes to service residents’ needs. There are two bus stations, Guelph Central Station and University Centre, and 26 routes that the buses service.
If you wanted to get from the university to Guelph Public Library downtown, it would only take you 23 minutes riding the number 99. If getting out of the city is your priority, I would suggest a condo near the highway for easy access.
Reasons to Invest in Condos in Guelph
There are two main reasons for homeowners to invest in new condos in Guelph:
Lower cost of living than Toronto and proximity.
Advantages of renting out.
Lower Cost of Living and Proximity
Compared to Toronto, living in Guelph is more cost-effective for families and young professionals. However, that doesn’t isolate those living in Guelph. Instead, Toronto is a short trip away, giving people in Guelph everything they need in close proximity.
Renting Out
Guelph offers investors the unique opportunity of having a large demographic of students needing renting options. If you choose to buy a condo near the university and rent it out, this can be a viable option for investors.
Is Buying a Pre-construction Condo in Guelph a Good Idea?
In my opinion, buying a pre-construction condo in Guelph is a good idea. This city has everything a young professional or family needs, like a downtown, nearness to Toronto, and quiet city life. More condo construction is planned for this city as its population is expected to grow.
Conclusion
Guelph is full of opportunities for prospective homeowners. Its plethora of parks and amenities, plus its rich arts and festivals, will ensure Guelph is always an enjoyable place to live. Due to its closeness with Toronto, people in Guelph can enjoy anything that comes to Toronto, like concerts, while getting away to the quieter city that is Guelph. Plus, the promise of more pre-construction condos gives residents more options when choosing a forever home.
Additional Reference:
CREA (2023.) Guelph and District Association of REALTORS® MLS® home sales reach lowest annual totals in 20 years. Retrieved from: https://creastats.crea.ca/board/guel
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