Here's my closer look at a recent Realosophy listing brought to market by our busy sales team - along with key insights and the bigger stories that today's consumer won't want to miss.
YOUR DREAM HOME IN A GOOD SCHOOL DISTRICT
List Price: $699,000
Brokerage: Realosophy Realty Inc
Agent: Nicole Harrington
With the number of Toronto listings at all time lows, and an ever increasing demand, a perfect storm is created for homebuyers: options are slim, competition is high, and lists of “must haves” go out the window. It’s hard enough finding any home to buy in Toronto, let alone your dream home in a good school district. But fret not – although a little less conventional than the typical “buy and live” scenario, there are still options for home buyers, with one of those being top ups.
What do I mean by top ups? It’s something we are seeing more and more of, especially in Old East York – home buyers and developers, focusing on details you cannot change about the home i,e. Lot size, location, and school district, are buying houses based on their future potential (what they can turn the home into). They’re buying up smaller detached houses on wide lots in order to build their dream homes – or the home of someone else’s.
HOW DOES THIS WORK
How is this done? By adding an addition or second story to the home in order to allow for a higher square footage. Not only do you get a larger home, but it’s designed to your personal needs and taste, and can be an economical choice when compared to buying a similar finished home in the same area.