- Joined
- Dec 27, 2007
- Messages
- 29
QUOTE (housingrental @ Jan 14 2009, 11:14 PM) I strongly disagree with the above post. Aren`t wealthy baby boomers are comfortably equipped and not looking to up size? Why the West side GTA bias? Why anticipate greater appreciation in lorne park than lawernce park?
Hello Adam,
This is an opinion of mine and an area that I like to operate in and feel familiar with. I`m definitely not saying that this is the be-all-end-all area of investing, but pls. keep in mind the types of baby boomers that exist in the area I mentioned. From personal experience, I am refering to first generation boomers (Mainly from East/West Europe) whose small businesses only now have produced large revenue streams. These families will never move out of these parts of the GTA b/c of their need to continue to help operate the business (even when it has been given to their offspring, they will never truly remove themselves from it), their churches (they still like being close to religious customs, masses in their own language, etc.) and sense of community (they like going to their ethnic stores, buying food and magazines from back home, etc.) For these reasons, the previous suburbs I mentioned will be hot and I feel that homes purchased in these areas won`t be a step-up (more square footage, etc.) but a move up into a more prominent neighbourhood. To make $$ on these homes, I feel as though one needs to time the gentrification of certain streets, but also renovate the interiors and exteriors of these properties with particular attention to what decor is trendy in Europe. Again, just my thoughts and I respect all other views on my opinions. I`m on here to learn and discover other points of view. Take care sir.
Hello Adam,
This is an opinion of mine and an area that I like to operate in and feel familiar with. I`m definitely not saying that this is the be-all-end-all area of investing, but pls. keep in mind the types of baby boomers that exist in the area I mentioned. From personal experience, I am refering to first generation boomers (Mainly from East/West Europe) whose small businesses only now have produced large revenue streams. These families will never move out of these parts of the GTA b/c of their need to continue to help operate the business (even when it has been given to their offspring, they will never truly remove themselves from it), their churches (they still like being close to religious customs, masses in their own language, etc.) and sense of community (they like going to their ethnic stores, buying food and magazines from back home, etc.) For these reasons, the previous suburbs I mentioned will be hot and I feel that homes purchased in these areas won`t be a step-up (more square footage, etc.) but a move up into a more prominent neighbourhood. To make $$ on these homes, I feel as though one needs to time the gentrification of certain streets, but also renovate the interiors and exteriors of these properties with particular attention to what decor is trendy in Europe. Again, just my thoughts and I respect all other views on my opinions. I`m on here to learn and discover other points of view. Take care sir.
