Buyers are always looking for the next hot spot to buy real estate, whether it’s a home to live in or an investment property – and as always, real estate is about location, location, location!
Understanding the best location for your real estate investment is very important. Purchasing a small house in an idea location could be preferable to the largest house on the block in an unwanted neighbourhood – especially when it comes time to sell!
This summer, the lower mainland real estate market heated up, with the busiest July since 2009, according to the Real Estate Board of Greater Vancouver. July 2013 sales were over 40% higher than July 2012 sales and over 11% higher than June 2013.
In another interesting turn of events, the Real Estate Investment Network (REIN) reported that Surrey is once again ranked as the top area for British Columbia real estate investment, topping the list for the fourth year in a row.
Between Vancouver’s hot real estate market and Surrey’s booming investment market, there are no shortages of viable locations to choose from in the lower mainland.
Vancouver boasts a host of new developments in and around the downtown core, including the Mondern Condos, Keefer Block, Hotel Georgia, Alexandra English Bay, InGastown, Trump International Hotel & Tower Vancouver, the Views at Coal Harbour, the Rolston, and many more.
Not to be outdone, Surrey has their own set of luxury buildings, condos, and townhomes in development, like Park Avenue Condos, G3 Residences, Wave Condos, Two Park Place Central City, Emerald Heights, and more.
And of course, all the areas in between and surrounding Vancouver and Surrey are following suit, with new developments everywhere from Vancouver West Side to Richmond, out to Coquitlam, Maple Ridge, Abbotsford, and beyond.
When choosing a location in the lower mainland, whether you’re buying a condo, townhome, or house, there are many things to take into consideration, as real estate in the lower mainland can vary greatly from area to area. Transportation is key when looking at the possibility of commuting from one area to another – for instance, you may want to commute via the West Coast Express from Maple Ridge, take the Canada Line from Richmond, the sky train from Coquitlam, the sea bus from North Vancouver, or the bus from Kerrisdale. Ensure you know the ins and outs of how to get from area to area if you are unfamiliar with the location.
Proximity to services like restaurants, hospitals, or the beach may be important to you, and with the lower mainland’s diverse communities and landscapes, home buyers have the advantage of being able to pick and chose from a wide variety of viable locations.
So, whether you’re an investor looking for your next investment purchase in Surrey, a commuting home owner looking to buy in Pitt Meadows, or a potential downtown Vancouver condo-dweller, take the opportunity to check out the diversity that Vancouver has to offer!