Ottawa Condo near LRT - Selling Options

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Aug 6th, 2019 9:53 am

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Aug 5th, 2019 10:00 pm

harith86 [OP]: Newbie; Feb 23, 2017; 92 posts; 17 upvotes; Oakville

Aug 5th, 2019 10:00 pm

Ottawa Condo near LRT - Selling Options

Hello,

I bought a condo in Nov 2018 near Tunny's Pesture in Ottawa, the condo is about 6 minutes walk from Tunny's Pesture LRT station. I am a first time buyer

I am planning to sell next April/May 2020.. My condo value has increased in value already.

My questions are the following:

1. Is April/May 2020 generally a good time to sell a property?
2. Once LRT is launched to public, and officially opened, will that increase the value even more?
3. If I wait until 2021, will that increase it even more (I know market analysis can change and no one knows how the change is going to be)? Or the LRT will really boost up the value that it would be better of to sell at the time LRT is open by taking advantage of the value boost up?

Thanks,

2 replies

Aug 6th, 2019 8:38 am

cyberfreak123: Sr. Member; Aug 6, 2011; 593 posts; 266 upvotes

Aug 6th, 2019 8:38 am

You should ask Ottawa real estate questions in this thread and you'll get more answers.
http://forums.redflagdeals.com/ottawa-r ... on-1051489

I own properties in Ottawa, but not condos in your area. I'll try to answer

1. Yes
2. Unlikely more increase due only to the LRT. If increase, it'd be due to general supply and demand dynamic. The area is already very in demand by investors and residents and high priced. I'm sure the LRT factor is already priced in most properties. The project has been known for several years now.
3. Perhaps in 2 years, you'll see a price increase, if the market continues like this. It's hard to predict the short term price movements. Some people will raise the government election this October as an important factor in the local real estate for the next few years. The city is known to be sensitive to public service cuts.

Aug 6th, 2019 9:53 am

michelb: Deal Fanatic; Jul 4, 2004; 6395 posts; 2574 upvotes; Ottawa

Aug 6th, 2019 9:53 am

cyberfreak123 wrote: ↑ You should ask Ottawa real estate questions in this thread and you'll get more answers.
http://forums.redflagdeals.com/ottawa-r ... on-1051489

I own properties in Ottawa, but not condos in your area. I'll try to answer

1. Yes
2. Unlikely more increase due only to the LRT. If increase, it'd be due to general supply and demand dynamic. The area is already very in demand by investors and residents and high priced. I'm sure the LRT factor is already priced in most properties. The project has been known for several years now.
3. Perhaps in 2 years, you'll see a price increase, if the market continues like this. It's hard to predict the short term price movements. Some people will raise the government election this October as an important factor in the local real estate for the next few years. The city is known to be sensitive to public service cuts.

I have to agree with everything that was said. Personally, I don't see a huge boost from the LRT - it's basically simply replacing something that did pretty much the exact same thing.

+2

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