Investing in the real estate market a focus for buyers

In Vancouver's thriving real estate market, buyers are finding innovative ways to purchase their dream home.

In Vancouver’s thriving real estate market, buyers are finding innovative ways to purchase their dream home. One of them is investing in a property in a growing area, allowing the original buyer to either rent out the home or sell it at a premium as the neighbourhood becomes more popular.

“With a growing population and increasingly high demand for real estate, the reality of what’s affordable and the dream location don’t always match,” says Shaadi Faris, vice-president of Intergulf Development Group. “Purchasing an affordable investment property in an emerging area is a means for more first-time buyers to get a leg-up in the market and work towards buying their ideal home in a more desirable location sooner.”

He cites the growing boom in real estate opportunities in Burnaby’s Metrotown as an example of buyers choosing to purchase in a vibrant area close to transit and education that will get them a return on their investment when they choose to sell or rent out the property.

“Buyers are becoming very savvy,” he says. “They want to know the price per square foot, what the strata fees are. They want to know what the opportunities are to build their investment.”

However, Faris points out that the amenities and features of a home can’t be ignored.

“People have to actually want to live there,” he says.

Faris has seen a difference in the kind of buyer as well.

“It’s a more mature condo market now,” he says. “People are more sophisticated in understanding the lingo and the product, and it’s imperative that there’s no wasted space, because every cent counts. Buyers are looking with that level of detail now; it’s not always an emotional purchase. There’s too much on the line.”

Intergulf has seen an increase in just such an interested buyer at their Burnaby project The Park Metrotown, which is located right in the heart of the area and will have the easy access to transit and education at BCIT and SFU that buyers are looking for.

“People know that it’s a smart place to invest,” Faris says.

Surrey North Delta Leader

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Education minister announces new South Surrey elementary school

Additions at two elementary schools also announced

Delta council approves plan to reopen city facilities

Next phase of plan includes outdoor pools, summer day camps, outdoor fitness programs

Undisclosed video evidence comes to light in Surrey man’s West Kelowna murder trial

‘They’ve disclosed hundreds of pieces of evidence. Why would this have gotten missed?’ - defence lawyer

Police on scene at a Surrey duplex after ‘suspicious’ death of woman

IHIT says the woman was transported from the home to hospital, where she died

March dental conference key to many of B.C.’s COVID-19 cases

Early infections from China, Iran were quickly contained

Facing changes together: Your community, your journalists

We’re asking you to lock arms with us, as we look to better days ahead

VIDEO: Pitt Meadows dentist gets grand welcome home after two-month COVID-19 battle

Michael Chow was given a surprise send off by hospital staff and ‘welcome home’ from neighbours

MAP: Dr. Henry reveals which B.C. regions have seen most COVID-19 cases

B.C. health officials release a first look at how the novel coronavirus has reached all corners of the province

Tla-o-qui-aht First Nation woman, 26, fatally shot by police in Edmundston, N.B.

Police were conducting a well-being check at the time of the incident

Stray dog with duct tape around muzzle spotted in Abbotsford

Pooch has been spotted over two days, but has escaped capture so far

Seniors to receive up to $500 in promised COVID-19 emergency aid in early July

The Liberal government first promised the extra help in mid-May, but had to create a new system to deliver the aid

VIDEO: Revelstoke bear wanders into Animal House pet store

Staff got ready to chase it out with a broom

No need to get out of your car at food truck festival in Abbotsford and Langley

Annual event takes drive-thru approach during COVID-19 pandemic

Most Read