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 the property’s long-term potential. After all, 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.
- Is 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