A friend of a friend sold her gorgeous lake front house in a northern Ontario community, and came to Toronto due to work relocation. She had sold her former house for $300,000. Coming to Toronto, she soon discovered that a midtown house similar to the one she sold costs $1.5 million, give or take, 5 times the value of her former house.

Even within Toronto, some areas are a lot more expensive than others. And that is what we call THE LOCATION.

The location of a home greatly influences its value: on one hand, it gives the property a personal value, important only to its owner, such as close proximity to the owner's office; on the other hand it gives the property a general value, like easy access to the highway, or a well rated neighbourhood school.

What exactly are the factors that influence the value of a neighbourhood?

The following are some of the factors to consider when selecting the residential area of your future home:

-         General aspect of the area: do neighbours regularly mown their lawns, trim the trees or remove the snow and do they make an effort to upkeep the exterior appearance of their houses

-         Find the school that the home is assigned to and then verify the EQAO score and how it compares to the board average and to the province average. Compare the scores to other schools' scores as well.

-         Average value of the surrounding properties is a good indicator of the individual value of the properties and their future re-sale value. Your agent should be able to obtain  this information for you

-         Visit the neighbourhood to get an appreciation of the proximity to food stores, medical and dental services and shopping. A good internet source is http://www.toronto.com/

-          Check for easy access to the public transit. Visit the TTC web page for bus and subway routes and check the distance and location to the stations

-         Crime rates: be informed about the number and frequency of criminal acts on the Toronto Police site

-         Visit environment ministry's website to read information about the air quality of the area in recent years

-         Visit city hall's web page for local taxes. Additionally, your agent should be able to offer you precise information about the annual taxes paid in the preceding year for the properties for which you have an interest.

Make sure you analyse all these factors before buying a home and make an informed decision.  My honest advice is to get a good feeling about the decision you make so you and your family can live happily ever after in your new home.

 Interested in learning more? Contact me  and I will send you a free market analysis and the marketing plan customised for YOUR property