Tuesday, October 29, 2013

Buying near the LRT line for future growth

Near to General Hospital and CHEO is a little enclave of town homes built by Claridge. It is near to Industrial and Alta Vista Drive. This is near Hurdman Station.  http://www.ottawalightrail.ca/#target1534

The properties in the enclavehave sold from $391,000 to $446,000 this year.

These are nice two storey town homes. They do rent to medical students, nurses, etc. I know that there is one rented for over $2000 per month to students. With the improvements to the transit system (Light Rail Transit), this should be an enclave that will improve in price.

According to REIN (Real estate investment network), you need to be within 800 meters of a transit stop to have a positive impact from the transit improvements. This property is approximately 540 meters from Hurdman Station (according to MapQuest).

REIN's research concluded that Ottawa transportation improvements will deliver a 10%-20% enhancement of real estate values in the regions most affected. In the future, these areas will outperform the rest. If the market goes up everywhere, these areas will increase by about 10%-20% more. If home values in Ottawa drop, these will drop by 10%-20% less.

Here is a link to the total report - http://ottawarealestatepros.blogspot.ca/2013/09/ottawa-light-rail-transit-and-its.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+OttawaRealEstatePros+(Ottawa+Real+Estate+Pros)

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