Liveable Neighbourhoods Matter to Buyers. Sellers, Take Note!

Liveable Neighbourhoods Distillery District Toronto

Liveable neighbourhoods are quite possibly the most alluring thing about a home, and certain aspects of a neighbourhoods can be a huge advantage to buyers and sellers alike. It’s little wonder why “location, location, location” has long been the motto of great real estate.

So, what makes for “liveable neighbourhoods”? The answer can be subjective, but to identify the common threads, Leger did a survey on behalf of RE/MAX and asked Canadians what features they look for in liveable neighbourhoods.

The inaugural RE/MAX 2019 Liveability Report revealed that 89 per cent of Canadians would recommend their own neighbourhood to others, which speaks to the importance of liveability when choosing a property to buy and live in.

According to the report, six in 10 Canadians put easy access to shopping, dining and green spaces at the top of their list. Proximity to public transit (36 per cent), work (30 per cent), preferred schools (18 per cent) and cultural and community centres (18 per cent) are also priorities.

Liveable neighbourhoods should also be top-of-mind when selling a home. Certain community characteristics can increase property value, such as low crime rates, access to schools and affordability. These are great selling features to tout when listing a home for sale. On the flip side, higher crime rates, neglected neighbourhoods and proximity to busy streets and highways contribute to decreased property value.

Liveability contributes to a better quality of life, which is something that every homebuyer should take into account when it comes to purchasing a new home.

For example, proximity to transit and work could lead to less commuting, and more time spent on doing the things you love. The higher the liveability the better, according to Canadians, two-thirds of Canadians’ time is spent in their own neighbourhood.

Other liveability factors to keep in mind when buying or selling a home include:

  • Availability of work/access to employment opportunities
  • Easy access to bike lanes and/or walking paths
  • Economic development
  • Population growth
  • Housing supply
  • Housing affordability
  • Access to healthcare facilities

To learn more about the 2019 RE/MAX Liveability Report, click HERE!