 |
Toronto Real Estate PodcastTips, tricks and more relevant information about the Toronto Real Estate market. Author: Aldo Udovicic
If you are looking to buy or sell a Toronto home, get all the information and the latest updates, tips, and tricks from Aldo Udovicic your professional Toronto Ontario Real Estate Agent. Language: en-us Genres: Education Contact email: Get it Feed URL: Get it iTunes ID: Get it |
Listen Now...
How Does Starbucks Affect Toronto Home Values?
Friday, 7 August, 2015
.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; height: auto; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Buying a home? Click here to search all homes on the MLS Selling a home? Click here for a free home value estimate. Call us at (416) 438-2536 for a FREE home buying or selling consultation I read an article recently that says living near Starbucks could raise your home's value. That got me thinking: What fuels gentrification? The answer seems to be coffee. First, let's look at Leslieville. A client mentioned to me that there used to not even be a place to eat lunch there. In 2004, the average price for a semi-detached home was $310,000. In 2006, Starbucks opened its doors. Semi-detached home prices went up in 2007 to $467,000, and by 2013, the median price was at $748,000. The same can be said for Dorset Park. Home prices were rising in 2014, and then in January of 2015, Starbucks opened. The average price of a bungalow in 2013 was $481,000. By early 2015, homes were selling for as much as $660,000, with an average price of $586,000. That's a whopping 79% increase in two years, and Starbucks moved in at the height of the increase. Now, this area sees a lot of bidding wars. When Starbucks moves in, an increase in home value occurs. In order to see the most dramatic appreciation, make sure you get into a neighborhood before Starbucks shows up. The key is knowing what areas are gentrifying before they do. We are experts on that. Buying a home in an area about to gentrify is the best way to build equity. If you have any questions on today's video, or on real estate in general, give me a call or send me an email. I'd be happy to hear from you.
