With its gently rolling hills and beautiful beaches, Northumberland is one of the most scenic places in Ontario. Sitting along the shores of Lake Ontario, it’s one of the province’s apple-producing areas and is famous for its history, culture, and many recreational offerings. It is bordered by Rice Lake to the north, Durham Region to the west, and Prince Edward County to the east. Toronto and Kingston are both a couple of hours’ drive away from this upper-tier municipality.
Northumberland’s awe-inspiring sights appeal to visitors from all over Canada and beyond but potential home buyers have many other reasons for wanting to relocate or invest here. This comprehensive guide holds everything you need to know about real estate in Northumberland County, Ontario and finding the right parcel of land to invest in.
WHY YOU NEED THIS GUIDE
This guide is essential, especially for anyone looking for land or homes for sale in Northumberland County, Ontario, so that it becomes easier to make informed decisions in the property-buying journey. Moreover, one will find answers to relevant questions on buying land in the municipality, such as the following:
- Why choose to buy land in Northumberland?
- What types of properties are present in the area?
- What kind of property will suit your needs and goals?
- How do you find the right land?
- What are the financing options?
- How is due diligence conducted?
- What are the land zoning and regulations to be considered?
- What are the risks and challenges one may encounter in buying land?
Northumberland: an overview
Northumberland exudes a sense of home because of its relaxed and welcoming community. It is perfectly located on the waterfront, yet is also in the midst of natural forests and fertile farmland. The diversity you will find here is not confined to its environment as the area also has a dynamic historic and cultural landscape.
While it has a population of more than 90,000, the county is less populated than nearby metropolitan areas and makes for a perfect escape from the big-city bustle –– whether during weekends or at the end of every working day. Homes for sale in Northumberland County, Ontario are usually bought by those relocating into the area, building vacation getaways, or investing in land for commercial use. The various property types in Northumberland also make it an excellent starting point for those looking to broaden their investment portfolio.
Despite its standing as a prime location, Northumberland real estate is more affordable than other comparable destinations with its median listing price of around $800,000. The average Northumberland County home value is below the average Ontario home value of $855,990 and is significantly lower than the average Toronto home value of $1.13 million. The average days on the market are 28 days for most Northumberland municipalities, including the largest one, Cobourg.
BENEFITS OF OWNING LAND
There are many benefits to owning land, more so when the property you have set your sights on is in Northumberland. The county’s municipalities – Cobourg, Port Hope, Alnwick/Haldimand, Cramahe, Brighton, and Hamilton – all have distinct land features suited for different kinds of buyers.
Buying land provides significant financial savings while it increases in value over time since the property tax is not as high as that of developed land. When buying vacant land, you have various opportunities for future development while owning a low-maintenance property. With no infrastructure to affect the property price, land often has the highest resale value. Those who want a secure retirement may opt to make their land an income-generating asset by leasing it or turning it into a rental infrastructure.
TYPES OF LAND
From Cobourg to Cramahe, there are many land types that would appeal to a first-time or seasoned buyer. This comprehensive list of the types of land for sale in Northumberland County, Ontario will help you gain better insights as to what’s available in this municipality.
Residential
This land is suitable for building homes and other housing developments. While many choose to buy live-in-ready houses for sale in Northumberland County, Ontario, there are those who see various opportunities in putting their money in vacant or undeveloped land, the most popular of which is building their dream home from scratch. While residential land in the county is often suburban or rural, there is good access to transportation, shopping, and education. The county’s proximity to two highways also makes it an ideal choice for those working in the Greater Toronto area.
Aside from residential land for new construction homes, there are other properties available on the market like lovely single-family homes in various sizes. Meanwhile, lakefront homes or homes near golf courses appeal to those with an active lifestyle who want to have the outdoors just outside their doorstep. Condos and apartments are also available in Northumberland for those who desire modern amenities and want to live close to shopping and dining destinations and other urban conveniences.
Commercial
Commercial land for sale in Northumberland County, Ontario is ideal for business or trade activities. This type of land often has greater value appreciation compared to residential properties. From versatile workspaces and shopping complexes to small storefronts and restaurants, the land in Northumberland County may be developed to match the needs of entrepreneurs and established businesses. You also have the advantage of higher rental returns and longer leases by renting out the land or spaces to businesses.
Aside from trade or business, there is also land for industrial purposes. Industrial land usually houses factories, warehouses, or other manufacturing infrastructure. Northumberland is home to several global manufacturers with industries related to food, beverage, clothing, wood, paper, machinery, furniture, textile, electronics, and many others. The county’s expedient location close to major highways, Oshawa’s harbour, and the largest commercial airport in Canada enable manufacturers to stay connected with major markets.
Agricultural
Agricultural land is an asset that appreciates over time and is considered a worthwhile investment for the future. This type of land is used for farming, food production, or agriculture-related businesses, including:
- Production of crops such as vegetables, fruits, grain, or flowers;
- Production of ornamental plants;
- Production of milk and other dairy products; and
- Raising and breeding animals like cattle, poultry, pigs, horses, or sheep.
With healthy soil comprising a large portion of its land base, Northumberland is famous for its thriving agriculture and food-processing industry. It has more than 200,000 acres of farmland in use and has more than 200 agricultural products. Northumberland has around 840 farms, about a third of which are valued at over $1 million. Located along the famed Apple Route in Ontario, Northumberland is also one of the significant apple-producing counties in the province.
Recreational
Ideal for leisure, sports, and entertainment, recreational land has the capacity to house developments like parks, water play areas, playgrounds, zoos, beaches, athletic facilities, and campgrounds. Not only does owning recreational land give you a chance to enjoy the outdoors or have a dedicated spot for enjoyment, but it also serves as an investment opportunity for long-term financial gain.
Northumberland County is surrounded by lush forests and hundreds of lakes and rivers. With such exceptional proximity and access to nature, developing recreational land becomes a good option for both investors and those who want to build a relaxing escape for themselves. Land near Lake Ontario and Rice Lake may be converted into destinations for year-round fishing, boating, and other water-related activities. Those who want to make the best out of the nature trails may want to look into opportunities like starting a campground or RV park.
HOW TO BUY LAND IN NORTHUMBERLAND
The process of buying land for sale in Northumberland County, Ontario is almost similar to purchasing other types of properties but there are certain aspects that are unique to buying undeveloped land. Below is a step-by-step process of the land-buying endeavour.
Research the market
Before shelling out money to buy land in Northumberland, it makes sense to first understand the dynamics of the local market. You need to be aware of land pricing, property trends, and ongoing or future developments in the area. This is highly applicable to Northumberland which has different types of land that are usually developed for residential, commercial, industrial, agricultural, or recreational purposes.
There are various ways to properly learn about the Northumberland market. You may use real estate platforms, check the county public records, or get in touch with local real estate agents who have a proven history of success in Northumberland real estate transactions. A land survey or a site visit is the best way to confirm the suitability and condition of the property.
Define your goals and budget
Having a clear goal and budget makes a big difference in narrowing down choices when buying land. When your objectives are clear, it’s easier to narrow down the selection of homes for sale in Northumberland County, Ontario to those that align with your goal.
A defined budget is vital to managing costs effectively. When setting a budget, you also have to prepare for associated costs like permits, infrastructure, environmental testing, land preparation, and development. With these in mind, it becomes easier to determine if there is a need for financing and how much you can bring to the table during negotiations.
Financing options
If you are buying land for sale in Northumberland County, Ontario, financing options may prove to be different than purchasing land with a home or structure on it. Financing options for buying land include the following:
- LAND OR LOT LOAN. This loan has more suitable terms when you opt to buy undeveloped land. However, this loan might have a larger down payment and higher interest rates.
- OWNER FINANCING. You may arrange a payment system with the owner of the land as a means of financing the purchase. While the down payment may be cheaper than other options, the interest rates might be higher.
- CONSTRUCTION-TO-PERMANENT LOAN. This loan gives you the option of getting a lesser interest rate and a cheaper down payment if you are planning to immediately develop the land.
Conduct legal due diligence
Doing this before buying land in Northumberland helps to avoid possible legal or financial issues in the future. Perform a comprehensive title search to ensure a clear ownership of the land. You must also check if there are outstanding restrictions, liens, or mortgages on the land that may have an impact on your purchase.
Hire a real estate agent
A real estate agent is your greatest ally when purchasing land in Northumberland. When you engage with local experts, you’ll get access to a wealth of knowledge and nuances that might be hard to come by if you are working on your own. Many local agents who have been in the industry for decades will have been able to establish a network composed of colleagues, service providers, and more. That said, they will be in the know of off-listed properties for sale from this network.
A reputable real estate agent also gladly assists you throughout the entire buying process. They’ll advise you on land suitability, zoning regulations, and handling negotiations, among many others. When you need to develop your property, your real estate agent’s network of local suppliers and contractors will immediately be on hand to take on the task. Simply put, hiring an agent makes buying real estate in Northumberland County, Ontario a smoother and more pleasant experience.
FACTORS TO CONSIDER BEFORE BUYING LAND
Buying land is an important investment and, for many, a life-changing decision. These are some of the factors you need to consider before buying land in Northumberland.
Location
This has always been a critical factor when buying land, more so for a place like Northumberland where there are unique considerations. While building a home in the county might be cheaper than building a similar residence in the city, certain houses for sale in Northumberland County, Ontario require more than a general appraisal. Beyond just assessing a property’s curb appeal, you should also take into account the available amenities, proximity to natural bodies of water, and access to transportation centres, among others.
Land zoning and regulations
Zoning and regulations determine what buyers are allowed or not allowed to do with a purchased parcel of land. With the myriad of land types and protected natural areas in Northumberland, it is understandable that the county has its own set of zoning regulations and land restrictions. You have to be knowledgeable about these protocols to determine if your development plans are viable.
Northumberland regulations may include permitted uses, height restrictions, and setbacks. Proximity to Northumberland protected land and bodies of water will involve environmental regulations. Water construction should be a considerable distance away from the body of water.
Soil quality
The soil quality in Northumberland is among the best in the region. Well-draining loam and clay loam with stones are the most common types of soil in the area. Plus, most of the county’s prime agricultural land is identified to be between soil classes 1 to 3, which means that there are no significant limitations for growing crops.
While its rich soil quality makes Northumberland a coveted spot for farmland, there are more considerations to make when building a home or a structure. There are instances when a soil percolation test has to be performed by a geotechnical engineer to determine if the land is suitable for the installation of drainage and septic systems. A positive result means that the soil has the ability to absorb and drain water.
Utilities and services
Access to utilities and services is a major consideration when buying land. At the very least, you need to be certain of good access to essentials like electricity, water, and sewage systems when vetting properties for sale in Northumberland County. Even for undeveloped land, it does not hurt to look into modern amenities like high-speed internet connection and assess the feasibility and cost of installing such utilities if the property is not yet connected.
Environmental concerns
Northumberland boasts a diverse ecosystem, breathtaking scenery, and a rich history that is strictly safeguarded by its residents and government. Those who want to buy land should be aware of protected areas and environmental restrictions. You may check with the archaeological society for houses and land with spiritual, historical, or educational value. Contact a conservation officer to check if the land you plan to buy is in a conservation zone.
FIND THE BEST REAL ESTATE IN NORTHUMBERLAND COUNTY, ONTARIO WITH TEAM PENNINGTON
Making the right investment in Northumberland involves working with professionals who have in-depth knowledge of the local market – a team that brings to the table years of experience and an outstanding reputation for successfully helping their clients purchase, sell, or invest in real estate in Northumberland County, Ontario.
With over 18 years in the industry, top agent Jacqueline Pennington and the rest of Team Pennington are here to help you achieve your goals. We are in the business of making sure our clients find a dream home for their family or a successful investment property in Northumberland County. Get in touch with our team at 905.375.0062 or send a message here to begin your journey to property ownership.