Houses for Sale in Pelham, ON

It's hardly surprising that Fonthill and Fenwick are Pelham's most popular neighbourhoods. Strata.ca determines the most popular neighbourhoods by looking at a number of factors. The average sale price, average days on market, and the percentage of properties that have sold over asking are just some of the factors used to determine popularity.

Pelham's most priciest neighbourhoods are Fonthill. Strata.ca looks at historical data to calculate the average sale price for every neighbourhood. Buying in Pelham's priciest neighbourhoods may not be ideal if you're seeking good value. Fenwick could be much better options.

You may be surprised to discover that Fenwick are Pelham's most affordable neighbourhoods. Strata.ca determines this by looking at the average sold price for the past year. In comparison, the average house in Pelham is selling for about $784,737.

Property tax is one of the things you'll need to consider when estimating the cost of owning a house in Pelham. This tax helps pay for a variety of services, including garbage collection and snow removal. Property tax rates usually fall between 0.5 and 2.5%, and are set out by the local municipality. Pelham homebuyers will often assume that the bigger the house, the more they'll pay. But this isn't necessarily true as the tax rate is multiplied by the home's current market value, which can change year-to-year based on recently sold properties. Let's say your property's market value is $700,000 and the municipal property tax rate is 0.5%. This means you'd owe $3,500 in property taxes that year.

The go-to website for your Pelham real estate search is Strata.ca, which showcases every property available, so you'll never miss an opportunity. Want more than just listings' Strata.ca also offers historical data and property-ranking capabilities that other sites don't have. From the average sale price to appreciation rates - Strata.ca gives you the power to learn every aspect of the neighbourhoods you're interested in.

Residents of Pelham usually need a car to get around, given the city's walk score of 8. Meanwhile, the transit score is 0, making it more challenging to get around the city using public transportation. For cyclists, the neighbourhood offers a bike score of 28, meaning there is limited bike infrastructure.

A common mistake buyers make is overlooking the closing costs associated with purchasing a house in Pelham. These fees are standard in real estate, but can still catch you off guard if you're unprepared. When searching for a house in Pelham, buyers will typically take into account 1.5% - 2% of their budgeted purchase price for closing costs. For instance, 2% in closing costs on a $500,000 house would be $10,000. Because these charges cannot be lumped into your mortgage, it's crucial to have this money upfront upon closing. All buyers are subject to the province's land transfer tax. First-time homebuyers could be eligible for a government rebate - your real estate lawyer can help you apply for this rebate at the time of closing. And finally, when buying a home in Pelham, you'll need a real estate lawyer to close the deal. Real estate lawyers have varying rates, but many agents will recommend you budget about $2,000 to cover their fees.