I would like to ask some of your opinion regarding a matter that I have been wondering about for a while. I found out last year that an open space and bike path behind one of my rental property in Calgary in the next year or so will be a path to an extension line for a Light Rail Transit. Would this be something that brings value and salability of the property, or practically the other way around? Being so close to a train line I wonder what kind of problem would I have to face renting or selling this place? Will it be hard to rent due to noise pollution? I really wonder if I shouldn’t worry about it or sell…
I own a property that will eventually stare right at the west LRT line, so I have wondered this myself.
One thing I know for certain - if your tenants are within walking distance to an LRT that is *huge*. Tenants will pay a few hundred $ more for a place if it means they don`t have to buy a car!
If you are just going to be close to tracks I wouldn`t worry about it. Renters are most concerned with price point and ease of commute - they aren`t planning on living in your property forever
QUOTE (JNB @ Nov 9 2008, 11:39 PM) Hi Folks,
I would like to ask some of your opinion regarding a matter that I have been wondering about for a while. I found out last year that an open space and bike path behind one of my rental property in Calgary in the next year or so will be a path to an extension line for a Light Rail Transit. Would this be something that brings value and salability of the property, or practically the other way around? Being so close to a train line I wonder what kind of problem would I have to face renting or selling this place? Will it be hard to rent due to noise pollution? I really wonder if I shouldn`t worry about it or sell…
It is nice to hear from someone with the same situation. You made a very good point. It is important for the tenants the easy access to a transit and to be able to save money and not to mention the environment for not having to buy and drive a car. I do agree that tenants will pay more for accessibility to a transportation that can get them anywhere in the city with very little cost.
QUOTE (RedlineBrett @ Nov 9 2008, 10:48 PM) I own a property that will eventually stare right at the west LRT line, so I have wondered this myself.
One thing I know for certain - if your tenants are within walking distance to an LRT that is *huge*. Tenants will pay a few hundred $ more for a place if it means they don`t have to buy a car!
If you are just going to be close to tracks I wouldn`t worry about it. Renters are most concerned with price point and ease of commute - they aren`t planning on living in your property forever
