Why Buy Gatineau
One of Gatineau’s most vibrant neighbourhoods, Vieux-Hull is at the doorstep to Zibi. Some have called it Ottawa’s answer to Brooklyn and Vieux Hull is becoming the preferred neighbourhood for artists, urbanites, and those who hate to commute, but still want easy access to the great outdoors.
Here are 10 reasons we think Vieux Hull – just steps from Zibi – is one of the best neighbourhoods in the National Capital Region:
1. A Stroller’s Paradise – the Montreal Gazette calls Vieux Hull ‘a cool quartier of boutiques and bistros with a stylish spin and major appeal for food fans, beverage buffs and families.’ With a walkscore of 90 at the corner of Eddy and Laurier, everything you need is at your doorstep
2. Beer and Wine! – if you like great beer and wine, this is the place to be. An easy walk over to some of the best pubs in the region, Festibiere, Marche Brasseurs D’Ici, and the renowned wine bar Soif are all good reasons to call Vieux Hull home
3. Gatineau Park Is Your Backyard – hop on your bike at your doorstep, and within five minutes you’re in Gatineau Park. Whether on skis or on bike, Zibi is the premier urban location to act as a jumping off spot for 361 square kilometres of greenspace and wilderness – or a great place to unwind afterwards
4. Less Property Tax – a 50% rebate on property tax for 8 years puts more money in your pocket
5. Vibrant Arts Scene – Vieux Hull has become one of the most happening hubs for arts and culture in the National Capital Region. Théâtre de l’Île, La Filature and Petit Chicago are just a few of the arts and culture hotspots within minutes of Zibi
6. Marche Vieux Hull – this great urban market features local food and artisans. On a sunny day with the music playing, this bustling market can make you feel like you’re transported to a European neighbourhood
7. Abundant Jobs – Vieux Hull is host to tens of thousands of professional jobs, including those at the Museum of History, the Portage complex, the University and more. For investors, 130,000 jobs within a 15 minute walk makes for a deep rental pool
8. Sunshine – south facing on the Ottawa River, with a downtown made up primarily of low and mid-rise buildings, Vieux Hull offers the benefits of downtown living, without being in a darkened downtown urban canyon
9. Rich History – Vieux Hull is one of the great historic neighbourhoods of the country. EB Eddy; the incredibly successful entrepreneur, and Jos Montferrand; the French Canadian hero made this home. Al Capone used the area as a hangout during the prohibition years, and countless great musicians and performers have played here
10. Park Paradise – Although Gatineau Park is the granddaddy of local parks, green space abounds all around – Parc des Portageurs and Jacques-Cartier Park are found west and east of the site, providing a biking, rollerblading and dog-walking paradise. Capital View Park and the waterfront lands between Portage and Eddy help in ensuring that urban excitement and convenience doesn’t come at the expense of natural spaces for contemplation and recreation
Gatineau By The Numbers
Many potential purchasers have been convinced on the value of downtown Hull as a neighbourhood: some of the best restaurants, shops, and art venues in the National Capital Region. What holds some buyers back is the fear of potentially negative financial implications. Let’s take a closer look at the numbers.
Assuming a buyer has an income of $75,000 and they would like to buy a 1 bedroom condo, and is questioning where they can get the best bang for their buck, and still live within walking distance of downtown. A summary of high-level expenses is as follows:
|Car insurance and license plate||$1,400||$700|
|Annual Mortgage Payment Savings||$3,552|
At first glance, Ottawa and Gatineau appear to be nearly identical, with a slight advantage for Ottawa. Where the big difference comes in is once you factor in a significant price advantage. With lower land prices in Gatineau, and less onerous development charges, an identical unit can be produced just across the River at a lower price point. A 700 square foot condominium can be $50,000 less expensive just a short walk away from downtown Ottawa, saving owners over $3500 a year in mortgage payments.
Over a five-year period, a purchaser would end up saving $14,340 just by crossing the River. The economic benefits become even more pronounced if a buyer has children. Given that downtown Hull is experiencing a powerful revitalization, and gaining recognition as one of the best neighbourhoods in the National Capital Region, there is also the chance that price escalation in downtown Gatineau exceeds Ottawa over the next five years.