COVID and the housing market | Page 38 | GTAMotorcycle.com

COVID and the housing market

Scuba Steve said:
Want to know if it comes up again if the current tenant moves out I can message you. Personally want to sell the thing and never be a landlord again but the wife wants to keep it.

Sent from my couch using my thumbs
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I keep telling my parents to sell it. Nows the time lol.

I hope they forgot I used to push them to sell the cottage. We’re using it lots nowadays.
 
diamond hands!
 
You want some conditions unless you just wanted parking and a garage. Some body will want a building permit and not many would gamble 750k on 'you should be good' .
 
crankcall said:
You want some conditions unless you just wanted parking and a garage. Some body will want a building permit and not many would gamble 750k on 'you should be good' .
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I know why the buyer would want them, I am surprised the seller accepted them. As a starting point, the setback to the neighbouring house with siding and a window is really shady for fire. I'm not sure how many variances you would need to get a house you want on that lot.
 
crankcall said:
You want some conditions unless you just wanted parking and a garage. Some body will want a building permit and not many would gamble 750k on 'you should be good' .
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I think a property like that....they'd like to make sure that the land is properly zoned/split and I'd personally double check the ground to ensure there's no oil tanks, or contaminants.

No one is buying a garage. They're buying a lot that can theoretically fit a house onto it.
 
mimico_polak said:
I think a property like that....they'd like to make sure that the land is properly zoned/split and I'd personally double check the ground to ensure there's no oil tanks, or contaminants.

No one is buying a garage. They're buying a lot that can theoretically fit a house onto it.
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All of that makes sense in a rational market. I am surprised that they couldn't find some to displace all rational thought and write a cheque.
 
GreyGhost said:
All of that makes sense in a rational market. I am surprised that they couldn't find some to displace all rational thought and write a cheque.
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To build on that tiny property will take someone with deep pockets, and common sense and connections to make sure all the permits clear. Plus you need water hookup, electrical (most likely), gas etc...getting utilities hooked up even in the GTA isn't cheap or easily done.

The more difficult and technical the work, the smaller the number of smarter contractors gets. Anyone can buy a fixer upper and slap some paint, laminate, and granite on. But to pull this off...takes a more experienced approach.
 
Crazy! The Squeeze was just checking MLS and our condo is now at 4x what we paid for it. We've owned it less than 10 years.
Not the principal residence so we can actually get our money out as compared to plunking it down on another place that has also gone crazy.
 
crankcall said:
You want some conditions unless you just wanted parking and a garage. Some body will want a building permit and not many would gamble 750k on 'you should be good' .
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If someone in the area wanted a parking spot for his BMW or???

If one of the next door owners wanted to expand???

The lot is 100 feet deep. I don't know if the garage can be expanded back to make a tandem double.

Does it have or can it get hydro?
 
timtune said:
Crazy! The Squeeze was just checking MLS and our condo is now at 4x what we paid for it. We've owned it less than 10 years.
Not the principal residence so we can actually get our money out as compared to plunking it down on another place that has also gone crazy.
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Capital gains issues?
 
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