Livability big factor in real estate purchase decision: study

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VANCOUVER (NEWS1130) – It seems being close to amenities and our loved ones trumps the length of time it takes to get to work. News1130 is checking out what buyers and sellers want most when choosing a home in Metro Vancouver.

A real estate consumer survey from Mustel finds is all comes down to livability.

“From a location point of view, 33 per cent prefer to live in the Vancouver area, and future buyers certainly have some aspirations… but when we deal with the reality of our Lower Mainland market, there certainly are some compromises that need to be made and price is the biggest factor,” explains Ian Martin with Real Estate Weekly.

Of course we want to be close to everything, but Martin reminds us there is some give and take to consider. “Compromise on size of home, size of lot, location and proximity… the reality is market prices are extremely high. They have to be flexible.”

But when it comes to resale value, Martin says being close to amenities is something both buyers and sellers should consider.

Although sales have slowed some, he believes it will pick back up by February. “There was a peak in activity in sales back in July. Since then, it’s started to balance out more. It’s making it a little easier to not get caught up in the rush when purchasing real estate.”

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