Many of us are focused on houses and the escalating price of properties in T.O In fact these days buyers seem more focused on kitchen countertops and spa like bathrooms. I am quite confident that tempered glass sales have reached an all time high. At the end of the day, it’s not about these houses, it’s about land. That’s why location will always be the predominate factor in my housing searches.
You’ve heard the saying a thousand times before, “Location, Location, Location.” It reminds me of when I was in High School we had to watch “The
Apprenticeship Of Dudley Kravitz” which focused on how the accumulation of wealth went back to land. I swear falling asleep in class that day and hearing the reminder about land, was the catalyst to launch me into a real estate career.
There is no doubt that when you drive around the City of Toronto you see old houses being demolished and new ones being erected. Its mind boggling, however building is a great option as it’s a great way to get rid of the clay and lead pipes that contribute to the cities failing infrastructure. I have many great contacts with great quality builders and architects for big projects that I would be more than happy to refer. Keep in mind the next time you’re shopping for “Real S. Taitt” that land value appreciates and house value depreciates, it’s kind of like your automobile the minute you drive it off the lot. Adding upgrades definitely will add value exponentially to your home, however the real increase in value is in the land, as they are not making any more of it, and vacant lots in the city are at a premium.
So next time you see that dilapidated bungalow in a great neighbourhood sell for a million dollars, remember it has nothing to do with the property and everything to do with the LAND value. Quartz countertops are nice but the will get old one day, just like me and you if we’re lucky.