This may be a realtor’s mantra, but it is so for a reason. Yet this is often the most overlooked part of the selection process for home-buyers. Here are some reasons to revisit that:
- Amenities. Shopping, entertainment, restaurants… and the amenities to make life easier and more enjoyable. Need we say more?
- School district. Parents will agree with this... a good school makes all the difference for your children’s success. And this is often reflected in the value of homes within the school’s district.
- Stability. Neighbourhoods that are more financially stable hold their value, and also attract individuals with pride in ownership.
- Transit. Let’s face it, nobody wants a bad commute. Proximity to transit makes a big difference to the value of your home.
- Views (ex: waterfront). If that is what you are looking for, why settle for anything else? The paint on the wall can be changed… your location is not so easy to change.
So if the above positively impact the value of a home, then the following will most certainly do the opposite:
- Industrial area. Think large tractor trailers, night shifts, smoke stacks.
- Neighouring hospital, train tracks, airport. Peace and quiet would not be your friend.
- On a major road. Not only would it be difficult to gain access to the home, but there would be worry about children playing close to such a street. And then there is the noise level to consider.
- High crime zones. Enough said. Nobody wants that. Period.
Having said all that, up-and-coming neighbourhoods may at first glance appear undesirable. But that is where an experienced realtor comes in. We know what’s hot, and what’s not. Buying in locations that are just beginning to boom, may allow you to get the most bang for your buck, and a great return on investment.
Queen Street East in Toronto is an excellent example of an up-and-coming neighbourhood. In the last decade it has seen an incredible shift and is now highly sought after for it’s proximity to the downtown core, and liveability (coffee shops galore, some great parks, and unique retails stops). New developments have helped to propel this part of Toronto into one of the most desired for first-time buyers. Let us help you get the home of your dreams. MAC Real Estate Services can help you find your next home.
Contact MAC Real Estate Services today: 416-222-0025.
It’s not business, it’s personal.