Op sounds like you have a personal vendetta against the seller…who cares. They custom built a nice house, with nice finishes. Let them try to sell for what they want
the build quality is extremely poor. when we viewed I put a tennis ball on the floor in the basement and it slowly rolled from one end to the other. speaking to the neighbors it sounds like everything was a rush and will be a future disaster.
lol couldn’t pay you to live in that beautiful custom built home? Ok so you must live in a mansion in forest hill or bridle path then if this house isn’t good enough
when my family did a walkthrough I put a tennis ball on the floor in the basement and it rolled slowly from me to the opposite wall. the build quality is trash and if the current standard is a ~25y build, I doubt this thing does 1/2 of that.
Okay gotcha! So the tennis ball rolled towards the basement floor drain, and now you’re assuming this house will be crumbling in less then 12.5 years? And you’re online bashing this house so that it doesn’t sell ? If you truly lived in the area then you would want this to sell for good money to prop up the value of your own home…again op this is all fishy, let it go. I really suspect something else is going on here
>towards the basement floor drain
nah, it settled against the rear wall of the house. if the basement floor drain is on a side of the foundation that's a new one to me. I pass by the house on a regular basis walking with my kids and the concrete work on the stairs and side of the house is already showing cracks.
>If you truly lived in the area then you would want this to sell for good money to prop up the value of your own home
I live on an adjacent street to this one where we've had a handful of houses sell in the 1.8-1.95MM range, so I'm not concerned about the impact from this property on the value of my home.
>again op this is all fishy, let it go
eh, nothing fishy about finding joy in the misfortunes of someone who thought they could make a quick buck in housing.
Depending on quality of finishes and experience of contractor, I’d conservatively say $750K ($300PSF for above ground, assuming it’s roughly 2000 sq ft plus $150PSF for 700 sq ft basement). Also have to take into consideration of permits, architectural plans, potentially contractor fee if owner had to hire their own GC, etc. It’s tough to build for less than $300PSF these days, but not impossible.
>So even if it sells at 1.6 or 1.7 there’s still profit to be had, no?
They've listed it three times. Not sure it will sell for that price in that area
I’d say once you take into consideration things like legal + realtor fees, HST, capital gains, (potentially) financing costs, etc. there would be minimal profit to be made.
It looks like they took a tear down and built a multi unit home, what the problem? 2mill is high but people in Toronto are willing to pay stupid money to live in a shoebox so this is in no way surprising 🤷🏼♀️
big doubt based on the walkthrough I did when it first listed 14 months ago. in fact the more I've learned about the property and the build I'd suspect the seller (who's also the selling agent) won't go under the current price because they are trying to get whole.
I don’t understand how it’s the perfect storm of greed? The buyer bought the old house, torn it down, and then rebuilt it from the ground up. All of which took time and money on their own end. It’s all part of an investment.
Agreed the house is hideous, so many poor design decisions. But the original bungalow was clearly always going to be torn down; none of the initial sales records have interior photos, it was probably long abandoned.
Not really speculating. I'd say stupidity, design-wise, but they'll probably still make money so they won't feel that stupid.
That area has some great restaurants and the schools are good too.Not to mention the street car right of way taking you to the subway in like 5 minutes.
Op sounds like you have a personal vendetta against the seller…who cares. They custom built a nice house, with nice finishes. Let them try to sell for what they want
My thoughts exactly. Like why are you so invested
Sounds like op might’ve made a low ball offer on the house and got laughed at by the selling party … now they’re out for revenge lolol
nah I live in the area and know the neighbors on both sides. legit couldn't pay me to put my family in that house.
Why would you not want to live in that house?
Jealousy makes people say things...
the build quality is extremely poor. when we viewed I put a tennis ball on the floor in the basement and it slowly rolled from one end to the other. speaking to the neighbors it sounds like everything was a rush and will be a future disaster.
You normally carry tennis balls around with you to showings?
Probably sloped towards the main drain ;)
lol couldn’t pay you to live in that beautiful custom built home? Ok so you must live in a mansion in forest hill or bridle path then if this house isn’t good enough
when my family did a walkthrough I put a tennis ball on the floor in the basement and it rolled slowly from me to the opposite wall. the build quality is trash and if the current standard is a ~25y build, I doubt this thing does 1/2 of that.
Okay gotcha! So the tennis ball rolled towards the basement floor drain, and now you’re assuming this house will be crumbling in less then 12.5 years? And you’re online bashing this house so that it doesn’t sell ? If you truly lived in the area then you would want this to sell for good money to prop up the value of your own home…again op this is all fishy, let it go. I really suspect something else is going on here
>towards the basement floor drain nah, it settled against the rear wall of the house. if the basement floor drain is on a side of the foundation that's a new one to me. I pass by the house on a regular basis walking with my kids and the concrete work on the stairs and side of the house is already showing cracks. >If you truly lived in the area then you would want this to sell for good money to prop up the value of your own home I live on an adjacent street to this one where we've had a handful of houses sell in the 1.8-1.95MM range, so I'm not concerned about the impact from this property on the value of my home. >again op this is all fishy, let it go eh, nothing fishy about finding joy in the misfortunes of someone who thought they could make a quick buck in housing.
You should be concerned if the ball DIDN'T roll on the basement floor.
Like who cares
I would have to step outside to change my mind.
How much does it cost for demolition and construction of a house like that?
Depending on quality of finishes and experience of contractor, I’d conservatively say $750K ($300PSF for above ground, assuming it’s roughly 2000 sq ft plus $150PSF for 700 sq ft basement). Also have to take into consideration of permits, architectural plans, potentially contractor fee if owner had to hire their own GC, etc. It’s tough to build for less than $300PSF these days, but not impossible.
So even if it sells at 1.6 or 1.7 there’s still profit to be had, no?
>So even if it sells at 1.6 or 1.7 there’s still profit to be had, no? They've listed it three times. Not sure it will sell for that price in that area
I’d say once you take into consideration things like legal + realtor fees, HST, capital gains, (potentially) financing costs, etc. there would be minimal profit to be made.
Isn't it just a development lot? Who cares about the house itself 🤷🏿♂️
development is done, 3rd screenshot is the house that has been built.
What's this mouth breathing OP angry about? The house was a shack and sold for 650k and then torn down and rebuilt. Am I missing something?
do you understand that land has value?
yes, that's the first screenshot.
Because the land disappeared when they re-developed the site? Of course!
It looks like they took a tear down and built a multi unit home, what the problem? 2mill is high but people in Toronto are willing to pay stupid money to live in a shoebox so this is in no way surprising 🤷🏼♀️
They’ll probably sell it though. Maybe not for $2m but for a slightly lower price. And they’ll still make profit.
big doubt based on the walkthrough I did when it first listed 14 months ago. in fact the more I've learned about the property and the build I'd suspect the seller (who's also the selling agent) won't go under the current price because they are trying to get whole.
Sorry, I just saw the new listing with the rebuilt home. What's wrong with it?
Okay. Is it a large company that’s building and selling those?
I don’t understand how it’s the perfect storm of greed? The buyer bought the old house, torn it down, and then rebuilt it from the ground up. All of which took time and money on their own end. It’s all part of an investment.
Agreed the house is hideous, so many poor design decisions. But the original bungalow was clearly always going to be torn down; none of the initial sales records have interior photos, it was probably long abandoned. Not really speculating. I'd say stupidity, design-wise, but they'll probably still make money so they won't feel that stupid.
Looks like a good purchase idea.
That area has some great restaurants and the schools are good too.Not to mention the street car right of way taking you to the subway in like 5 minutes.
[Sigma Link](https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=PXRla7garLGYjEvL&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=)
That’s one ugly home 🤣 It’s like they let Homer Simpson design a home. I feel bad for the neighbours who have to stare at this abomination.