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Assessing a Home or Properties Long-Term Potential.

You see a home listed for sale 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 the property’s long-term potential. After all, in terms of Edmonton real estate and St Albert real estate, a property is not just a potential home, it’s also an important investment.

Here are some things to look for when viewing homes on the market:

· Is the area’s average income increasing? (The more affluent a neighbourhood 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 likely 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 neighbourhood dominated by higher priced homes?

· Does the property have features that will always be valued by home buyers, such as a large kitchen, spacious backyard, and 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, house prices will often increase)

Alberta and the Edmonton and St Albert areas are currently among the top places to buy a home in Canada. It may be the right decision to buy a home instead of renting.

Need help to find the right home? Contact us to-day.

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