Here's what kind of house you can get for around $500K in Toronto right now
Remember in 2011 when Charlie Sheen got fired from "Two and a Half Men" for saying that he was a 'warlock' with 'tiger blood?' Or how bout when housing prices were still reasonable in Toronto?
Yeah, it's hard to think back that far, especially when the past two years have felt like a lifetime. But fun fact, in 2011, 109 Lambton Ave. sold for just $199,000. Wild!
Even more wild is that in 2016 it basically doubled in value and sold for $360,000.
Today, even though it's probably one of the cheapest semi-detached homes on the market right now, it's listed for $549,000.
This a discount of $136,000 from when it first came on the market for $685,000 in April 2022.
So maybe we are seeing the start of a return to reasonable house prices in the city? Maybe?? Please??
This two-bedroom, one-bathroom home is nothing fancy and is one of the more narrow houses in Toronto, measuring just under 11-feet wide.
Also, even from the photos you can tell the home isn't level.
But, according to the listing, it's been well maintained and has upgraded plumbing, a new coat of paint, and has undergone some renovations.
The bedrooms upstairs are decently spacious and there's an extra room in the basement.
Location wise, it's also well placed near the new LRT, as well as parks, both the highway 400 and 401, and all the other amenties you'd want nearby.
Also even though the lot is narrow, it extends 100-feet into the backyard so there's potential to expand back for more room on the main floor.
So while it would be nice to purchase 109 Lambton Ave. at 2011 prices, this 2022 price might be the best deal going.
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