One of the most important factors that affect the value of property is obviously location. Wise investment philosophy suggests that you invest in a sound property in a more modest area that will increase in value in the future. Buying into an area that is being gentrified, or that is otherwise coming back, is one way to do this.
Timing is everything, however! Most investors don't want to risk too much by being a pioneer, but want to get involved early enough so that there is still considerable room for appreciation in value. Being a pioneer is fine if you are a risk-taker with a lot of patience and cash is not the primary issue. Otherwise, it is safer to buy into an area after the restoration trend is unmistakably established.
Neighborhoods that are ripe for restoration have some common characteristics. They are next to a prestigious area or in a good walk-to-work location and have houses that are basically in good condition or "fixer-uppers" with realistic price tags.
Margorie Grime, Broker. Royal LePage RCR Realty, Brokerage Independently Owned and Operated 75 First Street, Suite 14 Orangeville, ON L9W 2E6 Phone: 519-941-5151 Toronto Line: 905-450-3355 Fax: 519-941-5432 margorie@thegrimeteam.com www.royallepage.ca
Margorie has devoted her career to real estate sales since 1975. Margorie Grime is a leading REALTOR in the area, selling a home every 3.3 days. Her activities have consistently earned her top awards. With the changing real estate market and economy, Margorie has formed this diverse team-qualified to cover all the complex details of real estate transactions, allowing Margorie to do what she does best-working with people interested in buying and selling property. Margorie is committed to providing the very best service available.
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