A major warehouse facility under construction in Surrey is not just paving the way for more trade between B.C. and China. It could be helping pave Chinese President Xi Jinping’s Belt and Road
*Important* How Can Proximity Affects Your Home Value!
Dated: March 5 2020
Views: 151
Location, Is, Key
You’ve definitely heard how important this is in real estate — and that's because it's true! Location is a crucial factor when it comes to the value of your home. Not only does what part of town you are in matter, but what is physically near you can actually help or hinder your property value. We put together a list of the most important proximity factors that will increase as well as decrease your home value.
Factors That Affect Your Home Value:
 SchoolsHomebuyers who have children are willing to pay more to live in a home that is closer to schools, especially ones that have a good reputation and high academic scores. This article takes a deeper dive into why this may be. |  Sought-After ViewsDepending on where you live, things like cityscapes, mountains, or golf courses tend to increase value and even help sell your home faster. |  Public TransitCanada is spending billions of dollars on new public transportation infrastructure, and according to this article that has had a positive effect on property values. |
 ShoppingHomes with a close proximity to grocery and shopping stores usually sell for more. Being close to a popular grocery store or a shopping mall has shown to have 5% premium according to this article |  Outdoor RecreationHaving great scenery and access to outdoor recreation like the lakes, rivers, and parks usually increase a home’s value. |  EntertainmentIn most cases, homes that tend to be in walking distance or a short drive from entertainment opportunities like a movie theater, golf courses, and parks usually sell for more money than homes farther away. |
Factors that decrease home value:
 CrimeAreas and neighbourhoods with higher crime rates tend to decrease home values. This article explores some of the reasons and consequences. |  Low-Rated SchoolsAs we said above, the top-rated schools are a big priority for some home buyers so homes located in areas with a low-ranking or closed down school has resulted in a lower property value. |  Busy AreasAlthough being close to railroad tracks, airports, and busy intersections is convenient for when you need to leave, it can be pretty noisy when you are at home which could drop the value of your home. |
 Bad NeighboursYou may think that your noisy neighbour is just an annoyance, but bad neighbouring properties could be driving your home's value down. In fact, it could be as much as 5-10% according to this article. |  Power PlantsAside from being an eyesore, toxic emissions released from power plants will not only decrease the air quality but the value of your home, but properties located adjacent to certain kinds of facilities or infrastructure deemed undesirable. |  Cemeteries & Funeral HomesWhether you believe in ghosts or not, the thought of living near a cemetery or funeral home is a bit eerie. According to Realtor.com, homes with a cemetery close by could be priced 12% less than homes in other nearby areas. |
#homevalue #greatneighborhoods #bestneighborhoods #realestate #shopping #location #badneighbors
Raphael Johnpierre
Raphael is an excellent listener and a passionate people person. Raphael loves Real Estate and the opportunity it provides to connect with all different kinds of people and resources. An extrovert an....
Latest Blog Posts
The easing of the eviction ban does not include evictions for non-payment of rent but does cover eviction orders that pre-date COVID-19(Tenants who does not have a steady job or can still relax as
Once again, the Canadian Mortgage and Housing Corporation (CMHC) is tightening the criteria to get a mortgage with less than a 20% down payment. Any potential home buyer with less than a 20% down
Imagine you’re a bank fearful of borrowers not paying you back, potential housing devaluation and surging costs to fund your mortgages. The last time this happened was in the 80's where
Copyright 2021 by the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, Chilliwack and District Real Estate Board, BC Northern Real Estate Board, and Kootenay Real Estate Board. All Rights Reserved. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license. This representation is based in whole or part on data generated by either the REBGV, FVREB, CADREB or the BCNREB which assumes no responsibility for its accuracy. Last Updated: October 16, 2021 4:20 PM UTC