In Real Estate, we see multiple lot outlooks and property styles with their appeal. Nothing beats a property backing onto Ravine, a pond, a park or a wooded area. We will explore why such properties stand out and are suitable investments.
Real Estate lots backing onto a Ravine, a creek, a park or a stormwater management pond, etc., provide a calm and relaxed vibe in the backyard space. If you are living in a Ravine property, every day, the start of the day will be with a stunning view and establish a connection with nature. This fresh start of the day by being close to nature will give you enough momentum to carry through the day and is invaluable.
This is why the builders in the pre-construction world will charge a premium price on such private ravine lots. Throughout the year, you will look at a different landscape in the backyard with changing seasons. The Ravine will look different in the Spring, Summer, Fall and Winter with snow. Visualize this as scenery at the back of your home with constantly changing views throughout the year.
Another significant benefit of the ravine properties is if you decide to sell your property in the future. It will be a relatively smooth sale due to its attraction to the backyard's view and inherent privacy. It will also bear a higher value on the sale.
To showcase this with data here I have taken a snapshot of the Oshawa market for 2-storey detached 4-bedroom properties sold in the first quarter of 2021 (Jan 1st – Mar 31st). I have deliberately taken the first quarter of 2021 as the market was not aggressive at that time and prices were within reason.
There were in total 148 properties which got sold in the first quarter of 2021, 127 of them were non-ravine and the median sold price was $1,035,000. Twenty-one of these properties were premium ravine lots and the median sold price of such properties is $1,225,000.
If the lot backs onto a municipal park, you benefit from a professionally landscaped view by the city in your backyard.
The backyards of Ravine properties provide an ideal setting for organizing parties and get-togethers since its a serene backdrop and a private background which helps tremendously to organize events.
With the ravine lots in my mind, the most critical benefit is the connection to nature as it helps to remain positive, calm and uplifting, this one comes from a personal experience, so I can vouch for it.
?Wish you all the very best! Reach out to our dedicated team at Elixir for any queries you have in Real Estate and we will do our best to help.
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