There is a great quote from Wayne Gretzky, where he talks about the importance of anticipating where the action will be, rather than where the action is right now.
I skate to where the puck is going to be, not where it has been.
Great advice and well worth considering in terms of real estate investing. So how do we take what we know now and extrapolate from that where desirable areas are going to be in the future? It can certainly be challenging but there is an opportunity in Toronto to take two simple pieces of information and come to a conclusion that is very interesting to any real estate investor.
- The first piece of information is that homes in good proximity to TTC subway stations do very well, both in terms of appeal to tenants, as well as overall appreciation. The TTC subway lines are (mostly) reliable ways for residents of such homes to get around the city, reducing the amount of time it takes to commute to work, go out downtown or make it back for dinner during rush hour.
- The second piece of information is that we are in the midst of subway line expansion right now in Toronto. The Toronto – York Spadina Subway Extension is an 8.6km extension from Downsview Station northwest through York University within the City of Toronto and north to the Vaughan Metropolitan Centre, in The Regional Municipality of York. Subway service is expected to begin in fall 2016.
The extension looks like this.
These two pieces of information lead us to one reasonable conclusion. If properties near TTC subway stations are good investments and six new TTC subway stations are being built, properties that are located close to where these new TTC subway stations are located are going to do very well over the next five years.
Smart listings in these areas are referencing this in the remarks for clients section already and no doubt once the stations are actually built we will see a substantial jump in the asking price for these suddenly “minutes from TTC station” properties.
If you or someone you know are considering an investment property, get in touch with me to talk about the opportunities around these new TTC stations. Wouldn’t it be nice to be where the puck is going when it gets there?