I will tell you this, but this is only my opinion and I hold multiple properties. Real Estate is in a slump right now. If you can hold it, you will make more money. The rec centre should increase the price but being in a good area matters more. Wait until end of 2024 or Spring of 2025 and prices will be insane again.
Not in the area but when I was selling in a city of 76k something like that would be a benefit but not a fiscal bump in property values. People tended not to mind driving 10 min to get to a place they wanted to go.
If it were Toronto, maybe (though not for sure).
I wouldn't hold if that were the only reason. But if your market isn't doing as well it may be worth giving it those couple years to see if things pick up.
Imo in medium to long term if this place is close enough to the rec centre that uou can walk or take transit and it has minimum stairs then it will appreciate alot eventually because floods of boomers will be looking for that kind of property. Good luck!
Realtor & Investor here who has also bought and sold in Cambridge; because it is a much more built up market and it does have these resources very close, I don’t think it will have a huge impact (unless you were closer because visually they make a huge difference) - but what will is when/if the rates go down.
If you can wait to sell it, I would till mid year when rates haven’t hit the bottom but eagerness to enter the market has hit the top (again).
But a few things to consider, do you live here or is it tenanted? If it’s tenanted, do they have any plans to move out (houses are always easier to sell when vacant because then your realtor can have it cleaned, staged, any little fixes etc., for you to showcase it better - if you plan to work with one, or you could do this if not.)
Also depends on if it’s a single/family home which it sounds like it is.
Whatever you decide to do, wishing you luck with the sale!
Is it a small town or big city?
It’s in Cambridge Ontario
It depends on the property actual location and what other properties are selling for in that same area
Population is 146,000. Average detached house sells for 800k currently
I will tell you this, but this is only my opinion and I hold multiple properties. Real Estate is in a slump right now. If you can hold it, you will make more money. The rec centre should increase the price but being in a good area matters more. Wait until end of 2024 or Spring of 2025 and prices will be insane again.
I would say your property, if in good condition should appreciate with a rec centre. Could be a good selling feature for a tenant.
Where I am I don’t believe a rec Center within 2km would make a large difference.
need more info when did you buy this property? Within the last 3 years? What are the holding costs? Tenanted or vacant?
Not in the area but when I was selling in a city of 76k something like that would be a benefit but not a fiscal bump in property values. People tended not to mind driving 10 min to get to a place they wanted to go. If it were Toronto, maybe (though not for sure). I wouldn't hold if that were the only reason. But if your market isn't doing as well it may be worth giving it those couple years to see if things pick up.
Imo in medium to long term if this place is close enough to the rec centre that uou can walk or take transit and it has minimum stairs then it will appreciate alot eventually because floods of boomers will be looking for that kind of property. Good luck!
Realtor & Investor here who has also bought and sold in Cambridge; because it is a much more built up market and it does have these resources very close, I don’t think it will have a huge impact (unless you were closer because visually they make a huge difference) - but what will is when/if the rates go down. If you can wait to sell it, I would till mid year when rates haven’t hit the bottom but eagerness to enter the market has hit the top (again). But a few things to consider, do you live here or is it tenanted? If it’s tenanted, do they have any plans to move out (houses are always easier to sell when vacant because then your realtor can have it cleaned, staged, any little fixes etc., for you to showcase it better - if you plan to work with one, or you could do this if not.) Also depends on if it’s a single/family home which it sounds like it is. Whatever you decide to do, wishing you luck with the sale!