In the 1990’s, Ontario jumped on the teardown bandwagon, but this trend does not seem to be going away. Driving around Burlington, McMansions have been erected city wide as smaller, outdated homes have become affordable to replace.

 

Toronto Life Magazine just published their Sale of the week, which was a 93-year old teardown. The house, just one year YOUNGER than the current owner, was listed at $895,000 and sold in a 21 offer bidding war for $1,208,000, 135% of asking.

Sold in just 6 days on the market, this Bedford Park home sparked a bidding war as the desirable lot size has the ability to hold a monster home.

The teardown trend has spread across North America. The economic downturn halted the trend for a few years, but teardowns quickly became a hot topic once the economy stabilized.

If a teardown is not for you, but you’d like to extend, modernize or personalize your home, there are other great alternatives.

A company based in Hamilton has come up with a few ideas to reduce the teardown mentality. SMPL Design Studio claims “Homes built in the 50’s and 60’s have great “bones”, and with some added architectural presence, these homes can remain and simply be built onto to better suit the lifestyle of today.”

Whatever your taste in housing, we can help you find a home that is right for you.
Or a plot of land, where you can design, craft and build your own!

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.

 

 

 

Interested in learning more? Send us a message here and we’ll be in touch with you soon after.

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