You’ll recall the old real estate adage – when looking for property to buy its all about location, location, location. What are the factors that determine whether a location is good? Proximity to public transport, walkability perhaps the potential of increase in property value in the foreseeable future. When looking at property for the investment potential – ie; how much will it appreciate over the next several years – you need not look at the long term mass transit plans or city development strategy. Just look for the hipsters. Hipsters mean you are on the cusp of being the next hot neighborhood in town. I give you THE prime example – Williamsburg, Brooklyn. This should be your real estate strategy.
All you followers of The Rock and Roll Mom know we just moved into a new house. We moved a little closer to the heart of Vancouver’s eastside – more affectionately known as East Van. A rapidly gentrifying part of the city, its a colourful area filled with an eclectic mix of old and new houses and lots of people on the same game plan as us (ie: professionals with young kids). More importantly, I think we have stumbled upon a little Hipster hotspot. Could we be on to something here? I’m not sure but here are some of the signs that your neighborhood might be moving into Hipster territory:
1. Your neighbor likes to play banjo/ mandolin/ harp on the front porch.
2. Your other new neighbor has an experimental art project synth band that rehearses daily at 4pm.
3. The local coffee shop only plays vinyl and the decor theme is Crow.
4. Part 2 of the local coffee shop – you can bet that those are ethical crop beans and that the coffee is brewed in those fancy single serving glass carafe-y thingys.
5. Gluten free everything, everywhere.
6. Vintage store is picked clean of anything worth buying or anything plaid.
7. Tacos tacos tacos.
8. Most of the local girls where their hair in big donut buns on the top of their heads. The donut hair buns are not to be confused with the maple bacon gluten free donuts available at the aforementioned coffee shop.
9. The local drug store always seems to have a surplus of shaving cream, razors etc.
10. More and more neighbors are dressing in skinny jeans, hats and ironic (but is it then unironic??) t-shirts.
All of these signs are excellent news for the neighborhood. It means you’re about to get more and more great restaurants that serve organic vegan thin crust Neopolitan pizza. It also means that you are bound to get several Urban Outfitters inspired shops where you can buy kitschy patio lights, and the aforementioned ironic/ unironic t-shirts. Once you’re overun with the retail haunts of Hipster-hood, you are well on your way to increased property values. Congratulations! The question then becomes, will you sell or start a neighborhood bluegrass band?