Welcome to urbaneer.com’s Home Of The Month. This feature provides a snap shot of what urbaneer.com’s clients have recently purchased in the City of Toronto.
While there are loads of reasons Buyers are going head to head in bidding wars to secure a freehold house in the City these days, one of the biggest factors is ‘Demographics’. Right now – at this very moment – there are three generations of Torontonians ranging from their early 30s to mid-50s who either have kids or will soon. This triple cohort of highly-educated, high-earning professional Buyers are either first-time buyers, or those climbing the property ladder out of their first or second homes. These Buyers account for a large segment of the market and – if they can afford the acquisition price- their ideal is a detached property in family-friendly neighbourhood that boasts quality schools in a location offering great amenities like shopping, green space and easily-accessed public transportation to the central business district.
This market segment of Buyers are typically seeking residences where they can establish long term roots. As a result, they’re understandably exacting in what they’ll buy and where they’ll locate. While this segment of the market realistically understand that properties in Triple AAA locations in and around the $1million will not be fully-loaded with flash, they do recognize they’re far too busy and focused on their careers and families to acquire those less expensive listings which require the ‘total gut’ renovation. Once they’ve secured the down payment that will allow them to exceed the $1million price point – where one must put down at least 20% of the purchase price – they’re willing to buy an upgraded or renovated house with a decent sized lot which will accommodate future expansion (including the much coveted family room addition) as their career paths and income mature.
In this instance our Buyers, an engaging pair of early-30-something professionals expecting their first child, came to us 2 years ago after they had sold their first condominium and were in a temporary rental accommodations. After a lengthy search – including a second move into a small midtown rental and the arrival of their first born – our Buyers, who had initially started searching in Riverdale but found the ‘too narrow small lot’ housing stock mediocre relative to value bought this midtown property in Davisville Village in North Toronto in the highly coveted Maurice Cody School District. The property, a detached three-bedroom two-bath renovated Tudor residence with legal front pad parking, is situated a short stroll to the Bayview shops and green space. Featuring great proportions, a lovely blend of old and new, with a sleek chef’s kitchen, this residence also had lush south-facing garden home to a detached outbuilding well-suited as a perfect home office.
Here are some images from the Toronto Real Estate Board MLS listing:
Listed at $949,000, our Buyers bid 13% over the list price to secure this property in competition.
Isn’t it gorgeous?
Serving first and next-time buyers, relocations, renovators and those building their long term property portfolios, our mandate is to help our clients choose property which will realize the highest future return on their investment while ensuring the property best serves their practical needs and their dream of “Home” during their ownership. At urbaneer, we identify a property’s best qualities, features and insouciant charm in the context of your wishes and wants, plus your future target market. Although searching for the right property can be an intense and sometimes lengthy process it is, without fail, rewarding both to our clients and the urbaneer team. We are so grateful to be the realtor of choice for so many Torontonians, and new arrivals.
If you, or someone you love, has specific real estate needs, wishes and desires, and would enjoy the personalized service of a Top Producing boutique real estate team who subscribe to a pressure-free approach, please know we’re here to help at urbaneer.com.
~ Steven and the urbaneer team
earn your trust, then your business
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