Reducing Risk

2007/06/13 Originally published in the Vernon Morning Star.

Would you like to invest in properties that have the best likelihood of good resale in the future? It is in your best interest to do so. Properties that have greater popularity go up more in value than their counterparts on most markets. They also tend to hold their value better on declining markets. Value is about popularity in a way. Properties for which there is bigger demand usually result in greater or at least more reliable profits.

Over recent years it seems apparent that lakeview and lakeshore properties have risen in value more than other types of properties. It seems lakeshore is being recognized for what it is. It is a limited commodity. We can't create anymore. With the strong economy, more affluent buyers on the marketplace and the baby boomers seeking vacation residences, the demand is unprecedented.

Lakeview properties are the "poor man's" lakeshore. So, for those of us who cannot afford to buy lakeshore property, a great lakeview is the next best thing. Also sought after are properties near the lakes.

The next group of properties that have the best resale record would be view properties that are not lakeview and properties that are revenue producing. For example homes with suites seem to always be in high demand, even when the suites are not legal. This is true because it takes less equity to make the investment pay for itself when there are two incomes from one property.

So when you are trying to make a lower risk investment, it is my opinion that you are best to seek out properties of the types mentioned here.

Contact your chosen Realtor® and request that they watch for such listings to come onto the market. Act fast when they do . Remember, these are the high demand types of real estate.

Jane Field works with RE/MAX Vernon. Jane has over 30 years experience in the Real Estate business. To suggest topics for future articles or to ask Jane questions, email or call 503-3755.

RE/MAX Vernon | 250.503.3755 | Toll free 1.888.503.3755 | 5603 - 27 ST | Vernon | BC | V1T 8Z5 | Canada

Investment and Retirement

Reducing Risk