Toronto Real Estate and The Latte Factor
As a Realtor and a Real Estate investor, selecting the right property takes patience, research and nerves of steel.
One of the first things my clients ask me when buying Real Estate is, "Is this a good investment?"
Buyers always question their purchase or decide not to buy based on what they hear or read from the many mass media outlets available. I consistently hear from buyers that the rising Canadian dollar is a sign not to buy, the volatile stock market is a sign not to buy, the rising price of oil is a sign not to buy, the U.S. sub-prime mortgage woes are sign not to buy etc, etc...the list goes on.
When is there a sign to buy? I tell my clients and investors that the only sign they should be looking for is a green and white sign that says...Starbucks Opening Soon!
Ah yes...The Latte Factor! Starbucks may be known for their tasty caffeine drinks and sweet treats, however, Starbucks is a sign that a neighbourhood is progressing. Starbucks has proven to have a positive effect on property values and growth. Areas in Toronto that were at one time desolate and stagnant of any residential and commercial growth now flourish with new residential developments and exciting commercial spaces. Neighbourhoods like King West, Parkdale Village, Roncesvalles Village and Leslieville, just to name a few, have benefited from the Latte Factor. Starbucks = Increased Property Values and new construction starts...(I failed Finite, so you do the math).
I find that once a Starbucks moves into a neighbourhood, Developers soon follow. There is something about a $5 coffee that reassures even the most skeptical investor.
The Latte Factor...Coming Soon to a Developing Neighbourhood!