How to Spot An Up-And-Coming Neighbourhood

There are numerous up-and-coming neighbourhoods in the Toronto and Greater Toronto Area and here are some tips on how to spot them from Toronto Real Estate President, Mark McLean.

Location, location, location

A neighbourhood that is adjacent to other desirable areas will eventually benefit from an outward cycle of development.

Neighbourhoods with a smaller population that are close to a major highway or a main transit line will eventually begin to see more development and new residents.

Retail Investment

When Whole Foods, Starbucks or even a fancy bakery, make their way in an otherwise undesirable neighbourhood, there is a good probability that change is coming. Major retail chains generally spend a good amount of time researching neighbourhoods, ensuring it is stable before they decide to open their doors.

Going, Going, Gone!

If the "Days on Market" for properties listed in the neighbourhood are on a decline, it most likely means that the area is in demand and potential buyers are aware of that.

Government Spending

Government spending on infrastructure in a neighbourhood and homeowner investment in renovations are sure signs that a neighbourhood is on the rise. Freshly paved roads or perhaps a new park could indicate the beginning of a trend and it also adds a new level of curb appeal to an area.

Home ownership is a solid long term investment and these tips can be used to find the perfect home in a great location.

Reference: Toronto Sun

http://www.torontosun.com/…/treb-how-to-spot-an-up-and-comi…