Too many novice homebuyers and investors still make the rookie mistake of buying the right house in the wrong neighbourhood. While most people are familiar with the real estate mantra – LOCATION, LOCATION, LOCATION – some buyers fall in love with the look, feel and features of a particular home and, as we all know, love is blind. Location ends up getting trumped by the hard-to-resist lure of a pretty façade. In truth, buyers are better off buying a home in the right neighbourhood that has only half the amenities on their wish list than buying their perfect dream home in the wrong neighbourhood.
Narrowing a property search to the right neighbourhoods requires the guidance and assistance of a professional Realtor who has a clear understanding of your purpose in buying and your short and long-term real estate goals. Your Realtor also needs to get to know you a little on a personal level to help in targeting the neighbourhoods that will offer the best fit for your personality and lifestyle. The right neighbourhood for an investor will not necessarily be the right neighbourhood for a young couple with school age children or a single person seeking access to downtown amenities.
In order to maximize short-term cash flow and long-term equity growth, investors need to search for properties in up-and-coming communities that attract quality tenants. If you are intending to be a landlord near a university, access to public transit is a critical element since many students and faculty members do not own their own vehicles. Homebuyers with children need family-friendly neighbourhoods with proximity to good schools, parks and recreational facilities.
There are a myriad of factors to consider when buying a home. Pinpointing the right location is a function of all of these considerations. Do you work? Where do you work? Do you have children? How do you feel about commuting? How do you spend your leisure time? Are you a condo or a house buyer? If you are an investor, what are you hoping to achieve? Is this your first investment or part of a larger portfolio? These are only a few of the questions to consider before launching a property search. The answers to these questions, in the hands of a knowledgeable Realtor, will help determine the locations to focus on in your search.
Even though all clients come to the table with wildly-differing goals and expectations, everyone is looking to achieve a positive return on investment (ROI) and location has a huge influence on ROI. At the same time, if you are going to be living in the home, you want to be in a neighbourhood that will accommodate your needs and complement your lifestyle. The suburban home you fell in love with at first sight may start to wear on your nerves if it involves a long commute. And the downtown condo that is close to work may leave you disenchanted if you have always harboured dreams of large backyard barbecues and an expansive garden.
Pinpointing the right location with strong potential for both long term ROI and short-term comfort and satisfaction involves a delicate analysis that is best conducted with the help of an experienced and objective Realtor. You will need a pro to help you weigh all factors and choose the right property in the right neighbourhood for you and your family.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.