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Wow....curious to see what it ends up at. That's a hell of a property for (let's assume) 300k.Interesting to see where this ends up. 24000 sq ft school on 2.7 acres in espanola. Govt is auctioning it off. Currently at 200k with a few days to go.
School & Property Auction - St Joseph's School - govdeals.com
GovDeals' online marketplace provides services to government, educational, and related entities for the sale of surplus assets to the public. Auction rules may vary across sellers.www.govdeals.com
Leaking flat roof currently. If you want a new flat roof, that will likely exceed your theoretical purchase price. Also Espanola. It's far (~45 minutes past Sudbury). Easiest use is probably retirement home. May get away with current zoning. If people don't have the money to retire, they might not mind moving further away for an affordable place to live. Life-lease gets you all your money back (and more) up front.
It sounds tempting to convert it to a seniors residence but add the roof to acquisition price, then allow for updating insulation, windows, electrics, plumbing, fire alarms, flooring would easily blow past a couple million. If you could do it for 5 million and sell 30 units at $200 K you could make a million. Competition in Sudbury is condos at $300 K.
www.bramptonguardian.com
Good luck to the sellers, I'm guessing there aren't many lining up for an overpriced assignment sale in a declining market.
It's not a hood yet. The model homes are finished. Other than that it is a bunch of dirt with a few framed houses. It will be typical subdivision hell when it's done. I have no idea what the original purchase price was.
I suspect more carnage in areas that have lots of new construction. Building prices fall fast because they need to sell product, hanging on isn't an option. That decreases value of prebuilds. As those prices fall, so fo the value of prebuilds purchased by dumb money in high times. So prebuilds start flooding the market as assignment sales, adding more downward pressure.Detached home prices have tumbled over $400K in Brampton and more than $350K in Mississauga since January
Detached home prices in Brampton and Mississauga have fallen dramatically since January, wiping out nearly all the gains seen in the frenzied uptick in the second half of 2021.
That can be tricky. My club requires I keep $2m in personal liability in case my boat boat blows up. If a person can prove another is liable for damages, they have a civil case and may have a claim for damages.
That's the most disturbing thought I've had in a long time .............. having to move to Espanola to afford retirement. Please God ....NO!
When I was working for a consultant I was ready to move to Europe any time if we had a project there. Probably still could if I try hard enough.
I have mixed feelings about this. Summers are nice in the north, you have bugs to put up with but you get longer days May thru October, the recreational opportunities are boundless, cultural and sports are TV only. Property prices are a fraction of what you pay in Toronto - Sudbury, North Bay, and Timmins have a reasonable cost of living and have excellent highway and air connections to Toronto or Montreal.
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