It is often a question that comes up when we list a home for sale in Guelph, “is this house an investment home or family home?” “Who is the target audience?”
With 167 Arkell, this is definitely our question once again. Across the lane way sits the model home for this newer development and another resale listing, both are listed for over $400,000. They have excellent finishes and even back onto conservation! So the buyers of these will likely not be an investor, especially a student rental investor. The price is too high. The buyer will likely be an established family or empty nester. So how does that effect our listing at 52-167 Arkell?
Our listing is the same layout as the two mentioned above but does not have conservation behind. The finishes are nice but not at the same level as across the street. The price point is nearly $100,000 less though. So who will be the buyer? It is a good location for a student rental, with the bus so close. The set up inside is the same as many popular townhouses where students rent, in fact it is even better. The price of $349,900 makes it very attractive for its size. Will students want to be beside neighbours who may be looking for a higher standard of life, and expect quiet? They might. If they are graduate students who are series about their studies, absolutely!
WHO WILL BE THE BUYER?
I feel that the buyer of this home will be a young couple. The price point is attractive and the value will likely go up because of the high priced neighbours. Is there a better location that to be right across the lane from a much higher priced home that is essentially the same as yours?
The location of the complex is ideal for a commuter or a local worker. It is very close to shopping, bus and recreation. The hiking trail is right beside for long romantic walks, jogs or taking the dog for a walk. Lifestyle is important for people after a long days work. This home is perfect. I would snatch this up while you can.
FIRST TIME BUYERS
If you are a first time buyer I think this is the house for you. No worries, no maintenance, virtually no risk. The south end of Guelph is a hot place to buy with annual appreciation over 6%. If you want to find out more about what it takes to buy your first home and think it would be wise to have a professional like us guide you through the process, please let us know. We will meet with you and explain the whole process.