Assessing an Etobicoke Property’s Long Term Potential

Posted on: May 12th, 2017

You see a home on the market that you like. Should you buy it? Before you make an offer, it’s a good idea to get a sense of an Etobicoke property’s long-term potential. After all, a property is not just a potential home, it’s also an important investment.

Most people only buy a few homes throughout their lifetimes – and may purchase just one or two. This means that you need to think about your future when you are making such a big decision.

The long term potential of a house is going to impact your financial future in many ways:

  • What kind of home you can buy afterwards,
  • how comfortably you can retire,
  • How much money you will be able to save and pass on to family.

Clearly, you want to make the best decision possible for you and yours.

Long-term-potential-etobicoke-real-estate

Keep the following in mind to assess long term potential:

  • Is the area’s average income increasing? The more affluent a neighborhood becomes, the higher the property values.
  • Are employment opportunities growing nearby? If jobs are leaving the area, housing prices will likely decline.
  • Are there any nearby housing or community developments that will enhance the quality of life in the area? If a park with a quiet walking trail, or a prestigious golf course, is being built nearby, the value of the neighborhood will increase.
  • Is the crime rate on the rise or decline? This can have a significant impact on future property values.
  • Are there public transit lines located nearby? Studies show that housing prices increase in areas where public transit is close and convenient.
  • Is the property located in a neighborhood dominated by higher priced homes?
  • Does the property have features that will always be valued by home buyers, such as a large kitchen or spacious backyard.
  • Are there short-term negatives about the area that will eventually disappear, such as loud construction projects? Once those negatives are gone, house prices will often jump.

If you’re considering a home, but want to be confident it will serve you well in the long term – look no further! I have helped many people make fantastic investments – and I would love to help you too! Call  me at 416-762-8255 or e-mail me today and we’ll set some SMART goals to get you to where you want to be!

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