Know Your Buyers and Tenants – Episode #150
When choosing an area to invest in, make sure you get very familiar with your market. More specifically, get familiar with who your potential buyers and tenants are. Understand what they want and what gets them excited. If your niche market is catering to young professionals in downtown Toronto then find out what they are willing to pay a premium for and why. It is so important to understand this as it will get you the most amount of rent and the highest resale value for your property.
Many times my clients and I go for tours in the Toronto Beaches and Leslieville to seek out the latest design ideas. We speak to many tenants and buyers in the local neighbourhoods to get to know them on a personal level to understand their needs and wants and especially their willingness to pay for specific criteria. Then we go and provide that for them.
We are noticing more and more just how desirable loft designs are in the Leslieville area and how much people are willing to pay extra for these types of designs. In the Toronto Beaches, we are noticing how desirable modern décor is mixed with the traditional beach character.
If you are interested in learning more about these areas and what potential buyers and tenants are looking for…send me a message and we’ll chat!