The most popular neighbourhoods in Georgian Bay are Oak Bay. Strata.ca examines specific criteria to determine a neighbourhood's level of desirability. Neighbourhoods with homes selling within the shortest time frame will usually have a higher popularity ranking.

It's hardly surprising that none available are Georgian Bay's most expensive neighbourhoods. Strata.ca determines this by looking at the average sold price for the past year and contrasts it with other neighbourhoods. If you can't afford a home in Georgian Bay's most expensive neighbourhoods - check out other areas which offer better value, including Oak Bay.

Every city has neighbourhoods where property values tend to be cheaper - and in Georgian Bay they are none available. Strata.ca determines this by looking at the average sold price for the past year. It should be noted that the average house in Georgian Bay typically sells for $853,188.

Aside from mortgage payments, owning a house in Georgian Bay will require that you pay an annual property tax. This tax is essential in helping the city provide a number of services, including sewer protection and road maintenance. Property tax rates usually fall between 0.5 and 2.5%, and are set out by the local municipality. Some Georgian Bay homebuyers believe this tax is based on the size of the house. But rather, the tax rate is multiplied by the home's current market value - which can fluctuate each year based on surrounding homes. If your home's market value is $500,000, and the municipal property tax rate is 1% - your property tax for that year would be $5,000.

Strata.ca features all listings in Georgian Bay, updated multiple times daily - you won't ever miss a property when using this platform. This platform offers something extra that many others don't. In addition to property specs, Strata.ca also provides extra data and rankings. This kind of intel can give you an edge in the local market.

With a walk score of 45, Georgian Bay is a city that often requires a car to get around. The transit score, meanwhile, is 25, indicating that this city offers a notably smaller public transportation network. For cyclists, the neighbourhood offers a bike score of 48, meaning there is limited bike infrastructure.

When looking for a house in Georgian Bay, many buyers will overlook the closing costs. It's important to be aware of what these costs are, so you can budget accordingly prior to making an offer. Closing costs cannot be rolled into your mortgage. But rather, these are charges paid upfront on the day of closing. To be safe, budget about 2% of the purchase price. For instance, if you're buying a Georgian Bay house for $800,000 - then at least $16,000 should be set aside. In Canada, regardless of where you purchase, all buyers must pay a land transfer tax. These amounts are set up by the individual provinces, with some municipalities imposing a second tax upon closing. The most common way to reduce this tax is by applying for the first-time homebuyer rebate. And lastly, buying Georgian Bay real estate will require a lawyer you can trust. You'll need to find someone who specializes in this as they'll be finalizing your purchase. Although fees can vary, expect to set aside somewhere around $1,500 - $2,000 on closing to cover your legal costs.