Jorge Branca

You see a home on the market that you like. Should you buy it? Before you make an offer, it’s a good idea to get a sense of the property’s long-term potential. After all, a property is not just a potential home, it’s also an important investment.

Here are some things to look for when viewing homes on the market:

• Is the area’s average income increasing? The more affluent a neighborhood becomes, the higher the property values.

• Are employment opportunities growing nearby? If jobs are leaving the area, housing prices will likely decline.

• Are there any nearby housing or community developments that will enhance the quality of life in the area? If a park with a quiet walking trail, or a prestigious golf course, is being built nearby, the value of the neighbourhood will increase.

• Is the crime rate on the rise or decline? This can have a significant impact on future property values.

• Are there public transit lines located nearby? Studies show that housing prices increase in areas where public transit is close and convenient.

• Is the property located in a neighborhood dominated by higher priced homes?

• Does the property have features that will always be valued by home buyers, such as a large kitchen, spacious backyard, and professionally finished basement?

• Are there short-term negatives about the area that will eventually disappear, such as loud construction projects? Once those negatives are gone, house prices will often jump.