Buying Real Estate In Brampton Ontario? Think More Than Location, Think Resale

By
Real Estate Sales Representative with RE/MAX West Realty Inc., Brokerage

Buying Real Estate In Brampton Ontario? Think More Than Location, Think Resale 

When buying real estate in Brampton, Ontario, or anywhere for that matter, think resale value.
It is very important to buy wisely, even if you think you'll never move again. You know what they say about the best laid plans.

"This is our last place, we are not moving again after this, so does it matter?" 
We have heard this so many times in our career only to find out later, the buyers are now sellers once again.

airplance flying


If you're thinking about buying a property that has been on the market for a long time because it's under a flight path, backing onto a highway, sits at an intersection or has an unusual layout because it doesn't bother you, think again.

Will it be tough to resell if you had to? If its been on the market a long time because no one wants the location or layout, you could be buying that owner's problem.

Even if you're not considering selling again right now
, your plans may change in the future and you don't want to buy something out of the ordinary. Always consider resale values down the road. Always. 


Buying Real Estate In Brampton Ontario? Think More Than Location, Think Resale 

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Ambassador
2,565,284
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Al & Peggy, buyers never consider resale when they are buying, just something that suits their needs, like buying a 2 bedroom home because it has a nice yard or location.

May 23, 2012 12:47 PM #1
Rainmaker
1,036,603
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Al and Peggy  - wise advice a bargain is not a bargain if you purchased a home with issues that you can not remedy such as a flight path directly overhead

May 23, 2012 12:48 PM #2
Rainmaker
1,267,575
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Exactly Ed, only to find out after they have to sell that a two bedroom may prove difficult if a quick sale is needed.

Well said Kathy. We just advised a client of this yesterday.

May 23, 2012 12:51 PM #3
Rainmaker
1,167,911
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Excellent advice guys.  I always think resale when I take my buyers around.  One day someone is going to sell that house.

May 23, 2012 01:03 PM #4
Ambassador
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Al and Peggy,

This is one of those things that I always remind my buyer clients of before putting in an offer. Yes, that house is wonderful, but that 1 full bath is going to be a challenge when you go to sell it.

Rich

May 23, 2012 03:51 PM #5
Rainer
247,741
Doug Bullwinkel
Envoy Mortgage, NMLS 6666 - Roseville, CA
Mortgage Loan Originator NMLS #281609

Always first consider how you would sell a property before you consider purchasing it.  Any problem that you discover will be an issue when you need to sell and that will cost you $$.

May 23, 2012 05:04 PM #6
Rainmaker
1,769,305
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

This is an important consideration when buying a home.

Thanks for the reasonable thinking Al & Peggy

May 23, 2012 05:14 PM #7
Rainer
136,597
Jon Eliason
EXIT Realty Advantage Pagosa, Pagosa Springs, Colorado - Pagosa Springs, CO

Al & Peggy ~ This is a great post. Many people don't think about resale. They should. Especially like the ones you mentioned above. When buying property that has been on the market for a substantial amount of time, buyers should not only look at the price, but its location and resale potential as well. Great food for thought!

May 23, 2012 07:40 PM #8
Rainmaker
4,432,317
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Congratulations on the featured post. I always advice buyers to think about Resale potential incase they have to sell it someday.

May 23, 2012 08:33 PM #9
Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Al & Peggy, Resale potential is one of the discussions we have with our buyers.  The thing that makes the home a "good deal" today (busy road, cemetery, etc.) will be the same thing that will require the home to be a good deal again the next time it's for sale.

May 23, 2012 08:44 PM #11
Rainmaker
1,267,575
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Absolutely Jane but sometimes its hard to make buyers understand that.

Bingo! No matter how nice the rest of the place is right Rich? Unless they have plans to add another bath ;)

Excellent way of putting it Doug!

It really is an important consideration Tom.

Yes, Mamta. Anything out of the ordinary or unusual should be given second thoughts.

Thanks Jon. Buyers must be aware of more than their personal taste.

Thank you Gita. We know you would advise your clients well.

It would Valerie.  It may not bother one person but it is perception in the minds of the future buyers you have to think about.

Yes it will and well said BLitz!

 

May 23, 2012 09:56 PM #12
Ambassador
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Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

I have talked some kids out of buying homes because of this.  Very good post!!                                                                

May 23, 2012 10:02 PM #13
Rainmaker
1,240,087
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Al and Peggy:  Having been an appraiser earlier in my career, I'd say you just hit the nail on the head!  Good, sound advice here.  You can't say "never".  With as much money that is being spent, a portion of your thought-process upon initial purchase must remain purely financial and possible re-sale value.  Wise words here within your post ...

Gene

May 23, 2012 10:39 PM #14
Rainmaker
420,748
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Al & Peggy, 

Great post.  One makes money by how well they buy, buying right and smart will make you a lot happier for resale.

All the best, Michelle

May 23, 2012 11:00 PM #15
Rainmaker
1,382,317
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Al and Peggy, this is an important aspect of buying today. Well said and a word to the wise. Congratulations on the Feature!

May 23, 2012 11:07 PM #16
Rainmaker
2,476,754
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When pricing a property, my thoughts go to your post points. Can I get the price I am paying back in lets say 1 year from now? Very valid question and it requires a sober answer too....good post Al & Peggy

May 24, 2012 12:00 AM #17
Rainmaker
1,267,575
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Thanks CT! Sounds like you are great agents that look after your clients not your own pockets, good job!

Thank you Gene. Yes as appraiser you have probably 'deducted' for bad locations and strange 'improvements'.

Absolutely Michelle. We just heard that cliche again this morning 'we are never moving again'! We know that is the immediate plan, but probably not future plan!

Thanks Michael. We always have to plan for the unplanned don't we?

Yes Richie, that is a great way of putting it! If a person can get their money back in a year, go for it!

May 24, 2012 05:47 AM #18
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Rainmaker
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Al & Peggy Cunningham, Brokers

Our Family Wants To Help Your Family!
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