May 15, 2011

I deal with a lot of buyers as part of my business who concentrate a lot on the specific home and don’t look enough into the neighborhood other than what they have heard.  We do home inspections when we buy our home, some even fore go that, and we don’t stop to look at what amenties are included or in walking distance of the house. Here are different aspects that I recommend my client consider when they are looking to make a purchase.

• School ratings
• Local businesses and services
• New future development?
• Infrastructure investment

Let’s take a moment and go through each of the items and review some of the sources available for the information.

School Ratings

If you have any children young or old, this is one of the aspects to consider when purchasing your next home.  A good school not only provides for healthy foundation for our next generation, it’s also a sure sign for future demand for real estate in the area.  This approach will hold true for single and multi-family homes.  It depends on the individuals that are purchasing or renting in the area hence you will see areas that are great for families or student rentals.

Following are some of the resources that I refer to when reviewing schools in different neighborhoods

• Fraser Institute http://www.fraserinstitute.org/report-cards/school-performance/ontario.aspx
• A late comer to the party, Yelp is full of great information by members.  This isn’t a standardized test rather opinions of locals hence should be used with care.

There are no schools within 3 miles radius of this location.

Local Businesses and Services

Great local businesses are a good sign of a healthy neighborhood that will help your property to appreciate in value over the course of time.  There are some simple ways to see how a neighborhood is doing starting with the simplest of them all.

• Driving through the neighborhood:  You shouldn’t see a lot of for lease signs or old for sale signs.  Commercial spaces should be plenty and filled with vendors doing well.
• WalkScore is another great tool available to consumers for free to see what’s available in the neighborhood at what distance.
• Yelp is also a great tool available for consumers to see what’s around and even reviewer providing comments on the businesses.  I’ve included an example below of businesses close to X condominium in Toronto at Jarvis and Bloor.

• Grocery Stores
• Restaurants
• Banks
• Gas Stations
• Golf Courses
• Hospitals

Grocery Stores

	Bloor Street Market Phone: (416) 923-8831 Manulife Centre, Toronto, ON M4W 1A5	0.43 miles	12 Reviews
	Bloor Superfresh Phone: (416) 964-8318 384 Bloor St W, Toronto, ON M5S 1X2	1.34 miles	4 Reviews
	Dominion Phone: (416) 597-2800 444 Yonge St, Toronto, ON M5B 2H4	0.63 miles	2 Reviews
	Essence of Life Organics Phone: (416) 506-0345 50 Kensington Ave, Toronto, ON M5T	1.5 miles	38 Reviews
	FreshCo. by Sobeys Phone: (416) 955-0717 Dundas and Parliament, Toronto, ON M5A 2Z3	1.04 miles	4 Reviews
	Grocery Gateway Phone: (877) 447-8778 , Toronto, ON	0.42 miles	11 Reviews
	Loblaws Phone: (416) 593-6154 60 Carlton St, Toronto, ON M5B 1J2	0.57 miles	42 Reviews
	Loblaws Phone: (416) 304-0611 10 Lower Jarvis St, Toronto, ON M5E 1Z2	1.83 miles	23 Reviews
	Loblaws Phone: (416) 703-3419 585 Queen St W, Toronto, ON M5V 2B7	1.88 miles	13 Reviews
	Longo's Phone: (416) 366-1717 15 York St, Toronto, ON M5J 0A3	1.92 miles	18 Reviews
	Luciano's No Frills Phone: 200 Front St E, Toronto, ON M5A 1E7	1.51 miles	9 Reviews
	Lucky Moose Food Mart Phone: 393 Dundas St W, Toronto, ON M5T	1.34 miles	16 Reviews
	Perola Supermarket Phone: (416) 593-9728 247 Augusta Ave, Toronto, ON M5T 2L8	1.51 miles	6 Reviews
	Pusateri's Phone: (416) 785-9100 57 Yorkville Ave, Toronto, ON M5R 3V6	0.51 miles	38 Reviews
	Rabba Fine Foods Phone: (416) 205-9600 361 Front St W, Toronto, ON M5V 3S8	1.94 miles	4 Reviews
	Rob's No Frills Phone: (416) 928-9158 555 Sherbourne St, Toronto, ON M4X 1W6	0.27 miles	16 Reviews
	Sobey's Phone: 777 Bay St, Toronto, ON M5G 2R3	0.7 miles	4 Reviews
	Sobeys Phone: (416) 413-0594 81 St Clair Ave E, Toronto, ON M4T 1M7	1.38 miles	8 Reviews
	The Market By Longo's Phone: 111 Elizabeth St, Toronto, ON M5G 1P7	1.07 miles	8 Reviews
	Whole Foods Market Phone: (416) 944-0500 87 Avenue Rd, Toronto, ON M5R 3R9	0.77 miles	59 Reviews

Restaurants

	Canoe Restaurant & Bar Phone: (416) 364-0054 Toronto Dominion Bank Towers, Toronto, ON M5K 1H6	1.6 miles	108 Reviews
	Estiatorio VOLOS Phone: (416) 861-1211 133 Richmond Street W, Toronto, ON M5H 2L3	1.39 miles	28 Reviews
	Guu Izakaya Phone: (416) 977-0999 398 Church Street, Toronto, ON M5B	0.69 miles	214 Reviews
	Japango Sushi & Noodle Restaurants Phone: (416) 599-5557 122 Elizabeth St, Toronto, ON M5G 1P5	1.06 miles	104 Reviews
	Khao San Road Phone: (647) 352-5773 326 Adelaide St W, Toronto, ON M5V 1R3	1.67 miles	145 Reviews
	La Palette Phone: (416) 929-4900 492 Queen Street West, Toronto, ON M5V 2B3	1.85 miles	42 Reviews
	Lai Wah Heen Phone: (416) 977-9899 The Metropolitan Hotel, Toronto, ON M5G 1R3	1.09 miles	39 Reviews
	Lee Garden Restaurant Phone: (416) 593-9524 331 Spadina Ave, Toronto, ON M5T 2E9	1.4 miles	36 Reviews
	Mengrai Gourmet Thai Phone: (416) 840-2759 82 Ontario St, Toronto, ON M5A 2V3	1.3 miles	62 Reviews
	Mikado Japanese Restaurant Phone: (416) 421-6016 114 Laird Dr, East York, ON M4G 3V3	2.7 miles	16 Reviews
	Nami Restaurant Phone: (416) 362-7373 55 Adelaide St E, Toronto, ON M5C 1K6	1.35 miles	35 Reviews
	Nota Bene Phone: (416) 977-6400 180 Queen St W, Toronto, ON M5V 3X3	1.4 miles	107 Reviews
	Opus Restaurant Phone: (416) 921-3105 37 Prince Arthur Ave, Toronto, ON M5R 1B2	0.82 miles	12 Reviews
	Sang-Ho Seafood Restaurant Phone: (416) 596-1685 536 Dundas St W, Toronto, ON M5T 1H3	1.51 miles	6 Reviews
	Scaramouche Restaurant Pasta Bar & Grill Phone: (416) 961-8011 1 Benvenuto Pl, Toronto, ON M4V 2L1	1.3 miles	38 Reviews
	Sotto Sotto Restaurant Phone: (416) 962-0011 116a Avenue Rd, Toronto, ON M5R 2H4	0.83 miles	32 Reviews
	Splendido Restaurant Phone: (416) 929-7788 88 Harbord Street, Toronto, ON M5S 1G5	1.23 miles	45 Reviews
	Sukho Thai Phone: (416) 913-8846 274 Parliament St, Toronto, ON M5A 3A4	1.1 miles	98 Reviews
	The Corner House Restaurant Phone: (416) 923-2604 501 Davenport Rd, Toronto, ON M4V 1B8	1.43 miles	61 Reviews
	Yuzu Sushi & Sake Bar Phone: (416) 205-9808 236 Adelaide St W, Toronto, ON M5H 1W7	1.56 miles	75 Reviews

Banks

	BMO Bank of Montreal Phone: (416) 867-5310 112 Spadina Ave, Toronto, ON M5V 2K5	1.78 miles	2 Reviews
	BMO Bank of Montreal Phone: (416) 927-5915 55 Bloor St W, Toronto, ON M4W 1A5	0.43 miles	2 Reviews
	BMO Bank of Montreal Phone: (416) 867-4663 262 Bloor St W, Toronto, ON M5S 1V9	1 miles	1 Reviews
	Bank of China Phone: (416) 971-8806 396 Dundas St W, Toronto, ON M5T 1G7	1.34 miles	2 Reviews
	CIBC Phone: (416) 861-3735 205 Queen St W, Toronto, ON M5V 1Z5	1.4 miles	2 Reviews
	CIBC Phone: (416) 980-4430 2 Bloor St W, Toronto, ON M4W 1A7	0.33 miles	3 Reviews
	Cibc Phone: (416) 980-6911 378 Queen St W, Toronto, ON M5V 2A2	1.67 miles	1 Reviews
	Cibc Phone: (416) 980-6308 436 Church St, Toronto, ON M5B 2A4	0.58 miles	1 Reviews
	Meridian Credit Union Limited Phone: (416) 591-0293 483 Bay Street, Toronto, ON M5G 2C9	1.18 miles	1 Reviews
	National Bank of Canada Phone: (416) 864-7791 150 York St, Toronto, ON M5H 3S5	1.43 miles	1 Reviews
	RBC Royal Bank Phone: (416) 974-3940 200 Bay St, Toronto, ON M5J 2J5	1.63 miles	2 Reviews
	RBC Royal Bank Phone: (416) 542-1508 101 College St, Toronto, ON M5G 1L7	0.82 miles	1 Reviews
	RBC Royal Bank Phone: (416) 974-2746 2 Bloor St E, Toronto, ON M4W 1A8	0.32 miles	1 Reviews
	Scotiabank Phone: (416) 515-2818 160 Bloor St E, Toronto, ON M4W 1B9	0.16 miles	3 Reviews
	Scotiabank Phone: (416) 866-6430 40 King St W, Toronto, ON M5H 3Y2	1.48 miles	2 Reviews
	Scotiabank Phone: (416) 866-6571 79 Queen St E, Toronto, ON M5C 1R8	1.2 miles	1 Reviews
	TD Phone: (416) 982-4007 City Hall Financial Centre, Toronto, ON M5H 1W2	1.29 miles	1 Reviews
	TD Canada Trust Phone: (416) 982-2535 443 Queen St W, Toronto, ON M5V 2B1	1.69 miles	2 Reviews
	TD Canada Trust Phone: (416) 944-6294 420 Bloor St E, Toronto, ON M4W 1H4	0.23 miles	2 Reviews
	TD Canada Trust Phone: (416) 623-5117 363 Bremner Blvd, Toronto, ON M5V 3V4	2.12 miles	2 Reviews

Gas Stations

	Canadian Tire Gas Bar Phone: (416) 925-6502 839 Yonge St at Davenport, Toronto, ON M4W 2H2	0.42 miles	1 Reviews
	Corktown Esso Phone: (416) 955-0727 176 Front Street E, Toronto, ON M5A 1E6	1.5 miles	1 Reviews
	Esso Phone: (416) 925-5448 581 Parliament Street, Toronto, ON M4X 1P7	0.61 miles	1 Reviews
	Lakeshore Esso Phone: (416) 955-0099 553 Lake Shore Boulevard W, Toronto, ON M5V 1A6	2.53 miles	4 Reviews
	Ruel's Service Centre Phone: (416) 922-5568 505 Jarvis Street, Toronto, ON M4Y 2H7	0.28 miles	1 Reviews
	Sammy's Service Centres Phone: (416) 489-1361 2114 Yonge Street, Toronto, ON M4S 2A5	2.44 miles	2 Reviews
	Shell Phone: (416) 962-8335 1077 Yonge St, Toronto, ON M4W 2L5	0.8 miles	2 Reviews
	Shell Canada Phone: (416) 596-6721 38 Spadina Ave, Toronto, ON M5V 2H8	1.93 miles	1 Reviews

Golf Courses

	Golf Town Canada Phone: (416) 977-4733 266 King Street W, Toronto, ON M5V 1H8	1.64 miles	1 Reviews
	Polson Pier Driving Range Phone: (416) 469-5655 11 Polson St, Toronto, ON M5A 1A4	2.38 miles	4 Reviews
	Spike's Clubhouse & Driving Range Phone: 11 Polson St, Toronto, ON M5A	2.38 miles	1 Reviews

Hospitals

	Bridgepoint Health Phone: (416) 461-8251 14 Saint Matthews Rd, Toronto, ON M4M 2B5	1.3 miles	1 Reviews
	Hospital For Sick Children Phone: (416) 813-1500 555 University Ave, Toronto, ON M5G 1X8	0.97 miles	4 Reviews
	Humber River Regional Hospital Phone: (416) 249-8111 200 Church Street, Toronto, ON M5B 1Z2	1.08 miles	1 Reviews
	Mount Sinai Hospital Phone: (416) 596-4200 600 University Avenue, Toronto, ON M5G 1X5	0.99 miles	10 Reviews
	Ontario MRI Centre - Mount Sinai Hospital Phone: (416) 598-9898 600 University Ave, Toronto, ON M5G 1X5	1 miles	4 Reviews
	St Michael's Hospital Phone: (416) 360-4000 30 Bond St, Toronto, ON M5B 1W8	1.12 miles	8 Reviews
	Toronto General Hospital Phone: (416) 340-4800 200 Elizabeth St, Toronto, ON M5G 2C4	0.86 miles	6 Reviews
	Toronto Western Hospital Phone: (416) 603-5800 399 Bathurst St, Toronto, ON M5T	1.73 miles	7 Reviews
	Women's College Hospital Phone: (416) 323-6400 76 Grenville Street, Toronto, ON M5S 1B2	0.71 miles	3 Reviews

New Development

A great source of appreciations for properties are investments made in the area by developers with new condos and freehold houses.  This results in a rise in population and density resulting in more sales for local businesses.  Another aspect is people tend to remain close to where they live when they sell. I read a survey, which I can’t reference, a while ago that stated, sellers tend to move within 3 kilometer radius to where they are selling hence we can see a huge market opening with first time buyers purchasing smaller condos who will be progressing to purchasing homes in the neighborhood.

Infrastructure Investments

A vital part of appeal to a neighborhood is it’s access to the city center and includes access to public transportation.  A property located close to subway or LRT tends to appreciate more in value than properties located further away.  I have seen numbers suggesting the best place to purchase a property is within 400 meters of a transit stop.  REIN Canada is a leading authority on the topic of investing in undervalued areas and relies heavy on data collected based on infrastructure development.

Transportation in general is a great predictor including roads and bridges being built to help flow traffic better.  Regent park is a development that comes to mind where an area in downtown Toronto is being revitalized with new development and better access with through roads to help reduce dead ends which will result in better flow and appreciation.

This is an part of an e-book that I’m writing to help buyers when they are purchasing real estate in Toronto.  Have a missed a topic?  Do you agree with what’s posted?  Leave us your comments in the section below with your thoughts.

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