The Hunt for VALUE
Everyone is looking for VALUE, especially now that we have realized Vancouver Real Estate is not bullet proof and we can no longer use our homes as short term savings accounts. The hard part is trying to figure out what constitutes VALUE.
Some people look at price per square foot, sure this can work if things like view, finishings and location are meaningless... people talk about "bang for your buck" but bang is relative, what bangs for you might not bang for me.
VALUE can be affected by time frame. If you plan to live there for 18 months and sell then price is probably more important to you then potential growth and latent potential. However, if you are going to live there for 10, 15 or 20 years emerging areas and room for growth are probably more important variables to keep your eye on.
However you equate VALUE, the most important thing is that you communicate this to your Realtor so they can find what you are looking for (this is their job). Don't look at buying Real Estate as strictly black and white; there are a lot of grey areas out there. Don’t be afraid of the grey...you might actually enjoy it.
Posted by Craig Rushton
on December 10, 2010