Prince Edward County is booming – the economy and the real estate market are on fire. Wondering if you should you get in on the trend and buy a home in PEC? Here are 30 reasons why you should buy right now.
It’s a short drive from Toronto and Ottawa. If you’re looking for a home-away-from-home, why spend hours in traffic jams heading up north? In 2 hours from Toronto and 2.5 from Ottawa, you’ll be in the County.- Real estate values are on the rise. Since 2015, average prices in the County have increased from $316,433 to $440,454 in Q2 of 2017 – an increase of 39%. Make no mistake about it, we’re just at the beginning of that curve…wouldn’t you rather get in early vs kick yourself for waiting?
- The WINE. With a terroir similar to Burgundy’s, the County is Canada’s fastest growing wine region, with more than 40 wineries and 60 vineyards. So sip, savour and swirl PEC’s delicious chardonnays, rieslings, bacos, cab francs and pinot noirs.
- Craft beer. With 9 craft breweries and counting (plus almost that many within a short drive), PEC is Valhalla for beer aficionados. Bonus if you like cider too, as it’s ground-zero for Ontario’s cider industry.
- It’s a foodie haven. The farm-to-table scene in PEC is second-to-none, and an increasing number of city chefs are making their way to the County.
- The arts scene. With 3.1% of the population working in the arts sector, it’s no wonder that art galleries, studios, craft shops and artisans dot the area’s trendiest communities.
- PEC isn’t just about the lakes, the beaches and communing with nature. There’s plenty of culture here too – the kind of culture you just don’t find in Ontario’s “other” cottage country. Top-notch theatre, arts, live music, museums, galleries…
- Cheese! Watch for superstars Fifth Town Cheese, Black River Cheese and lots of Maple Dale Cheese curds throughout the County.
- Beaches. Some of Ontario’s best beaches are found in the County. With more than 800 km of shoreline and 3 Provincial Parks (plus a fourth, Presqu’ile, just a short drive west) it’s easy to sink your toes in the sand and relax.
- All the cool kids are doing it. Seriously. The County has seen an influx of rat race dropouts looking to build a new life in the country; retirees looking to slow down amidst a vibrant community, and professionals and families in their 40’s and 50’s looking for a convenient second home.
- Did we mention the REALTORS? There’s an old saying in real estate: “Follow the realtors”. And where are the realtors buying? The County. Love ’em or hate ’em, realtors are dialed into opportunities to get ahead of the next great thing. We’re far from the only Toronto agents who’ve seized on the opportunity to buy in PEC.
- Medical care. Prince Edward County has one of the highest doctor-to-patient ratios in Canada, according to the findings of the Macleans 2017 Best Places to Live. With five doctors for every 1,000 residents, that’s more than double Toronto’s 2 to 1,000 ratio and five times Niagara’s 1:1000 ratio. There’s a primary care facility in Picton (soon to be redeveloped) and nearby hospitals in Trenton, Belleville, and Kingston.
- The best of both worlds: PEC has all of the great small-town stuff you’re hoping for (slower pace, friendly neighbours, communities so safe you can keep your doors unlocked)…AND the services and amenities you’re used to in the city. Outside of the County proper, Belleville, Trenton, and Kingston are easily reached for emergency Costco, Home Depot or Walmart runs.
1,000,000 tourists visit each year – (including Prince Charles and Camilla, of course) – how could that many people be wrong?- Leverage your equity: If you own a home in Toronto (where prices have increased dramatically over the last five years), it’s relatively easy to pull out some equity for a down payment and use it towards a home in the County. Obviously, talk to your banker first.
- The weather: it’s less muggy than Toronto, not as cold and snowy as Ottawa and Montreal and there’s a nice breeze in the summer. If it’s good enough for the grapes…
- Prince Edward County is still a hidden gem. There’s still so much opportunity here – both in the real estate and business fronts. Ten years from now (five years? Two years?), you’ll look like a genius, and your friends will wonder why they didn’t follow your lead.
- There are more ice cream parlours per capita in PEC than anywhere else in the world. OK, I made that statistic up – but there are some great artisanal ice cream shops here. Our favourite: Slickers in Bloomfield and Picton.
- If you think of Niagara as the place to be for your Mom and Dad, and Muskoka perfect for your granola-loving, tree-hugging neighbour (who just finished his IPO), then PEC might just be for you. Hipper than Niagara. More cultured than Muskoka. And more affordable than both.
- There are tons of great housing options here (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.
- Fan of festivals? The County is home to an impressive collection of annual festivals. There’s something for everyone.
- So many things to do: hiking, biking, canoeing, golfing, paddle-boarding, birding, horseback riding. Fishing, boating, kayaking, swimming, sailing, skating, cross-country skiing, snowshoeing, ski-doo-ing. There’s an activity for everyone here.
- Jamie Kennedy, the patron Saint of PEC. He’s usually at the Wellington market serving up his delicious fries.
- Interest rates are low. Returns on the stock market aren’t great. Why not invest in an appreciating asset you can enjoy?
- The Millenium Trail: 49 km of flat, off-road trail cutting straight through the heart of the County.
- The hipsters are here: The June Motel. The beards and facial hair. The Hayloft Dancehall. You don’t need to BE a hipster. But it’s always nice to know they think it’s hip too.
- Alpacas. Sheep. Alpacas.
- The short-term rental opportunity: Prince Edward County is said to be the fastest growing community on Airbnb and good short-term rental homes are solidly booked throughout the summer. 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.
- Your dogs will thank you for it. Ask any dog: they’d rather run in the country than ride an elevator (at least on the weekends).
- Life is short. County up!