Festival Season: The impact of arts and culture on a great neighbourhood

Buying a home is an investment – hopefully a lucrative one, provided market conditions are right at the time you buy and again when you sell. But a home is a unique investment opportunity in that, while you own and live in it, it’s a huge influencer on virtually every aspect of your life, from your family structure and social circle, to employment options, recreational pursuits and life goals. You don’t just buy a home, you also buy the lifestyle. Whether it’s a unique coffee shop, a trendy bar, a specific retailer or a vibrant arts and culture scene, when you buy a home you also invest in the great neighbourhood that surrounds it.

#DYK: 89% of Canadians would recommend their neighbourhood to others (Source: RE/MAX 2019 Liveability Report)

Festivals play a large role in the vibe of a great neighbourhood. Canada’s diversity allows for an expression of celebration of what makes neighbourhoods and their residents unique. Hosting some of the largest festivals in the country, major urban centres like Toronto and Vancouver offer entertainment for the whole family, inspire a sense of community and discovery, and allow area residents to escape from the hustle and bustle of their daily lives.

For example, Toronto’s famous Taste of the Danforth. Now running 26 years strong, this summer-time staple has become integral to the identity of Toronto’s Greektown neighbourhood, and offers up cultural delights, from delicious eats to dance performances and more. Set to attract more than 1.6 million attendees this year, any resident of Greektown can attest to the positive impact that the festival brings to the community and the fun to be shared by all.

Another example is the annual Celebration of Light held every summer in Vancouver’s English Bay area. One of the world’s premier fireworks events, the Celebration of Light brings together the best fireworks teams from across the globe to take part in a two-week competition. The festival is also home to music performances and premier food vendors. For those who are looking to buy a home along the English Bay coast, be prepared to marvel at the sights and sounds of fireworks at least once a year.

While community events are an important feature for homebuyers, they are also a key selling point when it comes time to list your property for sale. Often attracting singles, young couples and growing families, be sure to list the local community among the advantages that potential homebuyers will enjoy, along with traditional selling points such as the number of bedrooms and baths, and that newly renovated kitchen.

When making a move, it’s certainly important to take into consideration square footage, interiors and number of rooms. But what’s beyond those four walls is part of what makes a neighbourhood liveable and ultimately, it’s what makes a house feel like “home.”

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