Vancouver is such an amazing city with such a diverse and eclectic group of people living here that it can often be hard to decide what part of the city you want to buy your home in.
What is the best way to help make your choice? See what sorts of stores and shops are in the area.
Store owners spend thousands of dollars researching neighbourhoods when trying to find the perfect space to sell their wares. It is important that they open in an area that is made up of the demographic they are targeting.
It would do a store owner no good to randomly open a nightclub in a part of the city that consists primarily of elderly individuals. So take advantage of all the research that has already been done when shopping for your new home.
Let us look at the fast growing burb of Port Moody for example. In the hotspot shopping districts of Newport and Suter Brook Villages we can find establishments like Starbucks, the ever popular Brown’s Social Club, The Running Room and the new and very trendy snow and skateboard outfitter Bobby Paul.
Taking a look at these staples in the community, one can deduce that this area primarily consists of young, health conscious individuals and families who enjoy outdoor activities and in all likelihood have disposable income. So, if that sounds like you, this may be the perfect move.
This research is not only priceless to a buyer, but can serve as a great guide to any seller. Neighbourhoods are constantly changing and evolving. Drastic alterations in such communities as Yaletown, which has gone from warehouse district to high end, need to be marketed to those who are now buying there.
If you are selling because your area no longer suits your needs make sure you market it to those who are now coming in and not other individuals like yourself who may not wish to live there. Advertise your proximity to the area merchants of interest to your buyers to attract them to your listing.
You can even use this demographic information to help stage your home and maximize your price.
– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.
