Page 9 - REN Nov/Dec 2021_Loralee Burns

Job growth and quality school boards are typical incentives for home buyers. Professionals starting businesses
bring jobs, or at least more business to the area. Their kids go to schools and local businesses can run efficiently
as they provide services to families, which can all help create more attractive areas from a home buying
perspective.

4. Business expansion
High-end food chains and retailers possess big data on where they should invest their money next. They know
where people are moving (and why) when they target a new location. They look for long-term growth in the local
economy and they won’t open unless they’re sure the area can support their consumer base over the long haul.
There’s also a follow-on effect as a result of trendier shops investing in an area. Larger chain retailers or even
independent shops can follow suit when they see a big brand willing to put their money into a given area. It gives
them faith that a larger pattern of spending and consuming is on the rise.
5. Transportation
Any development in an area that improves access to work is logically connected with housing. If a neighbourhood
was once unattractive or downtrodden, its convenient proximity to employment centers, public transportation,
freeways and bridges can lead to whole-neighborhood remodeling.
Adding transit and transportation to any area will almost always benefit property values. If an area going through
transition has plans to implement a transit system, this is a reasonable indication values will go up considering
the area is now more accessible to a larger population base.
In southern Ontario’s Greater Toronto Area, the bedroom community of Milton shot up from a population of 35,000
to 110,000 over ten years. Its close proximity to downtown Toronto, easy access to commuter transportation and
aggressive residential development paved the way for the town’s significant transformation.
6. Decrease in crime rates
Much of the transformation that occurs when a neighbourhood changes from worse to better fall under the
umbrella of gentrification. People with higher incomes from neighbouring areas move in while local investments
and infrastructure increase. Economic development follows and typically (but not always) crime rates fall.

A neighbourhood with steadily falling crime rates is a good sign. Whether this indicates increased police
presence, crime being pushed elsewhere or more law-abiding folks moving in and law-breaking folks moving
out, it’s a positive indicator. So how hard is it to find that gem home in a soon-to-be hot neighbourhood? It takes
diligence, research and a willingness to get out and explore. g

www. CowichanHomesForSale.ca | REAL ESTATE NOW | 9