Assessing the Long Term Value of A Property

Should you buy the home you've just seen on REALTOR.CA?
Before you make an offer, a particularly good thing to
consider is the property’s long-term potential.
A property is a major investment as well as a potential
home.
Some of the things to look for when deciding which homes
to view with your valuable time are:
• 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 neighbourhood will increase.
• Is the crime rate on the rise or decline? This can have a
significant impact on future property values.
• Is public transit available? 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 timeless features that will always
be valued by home buyers, such as a large kitchen, spacious
backyard,or professionally finished basement?
• Are there short-term negatives about the area that will
eventually disappear, such as loud construction projects?
Once those negatives are gone, prices will often rise.

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