News   May 03, 2024
Assembly's Blueprint for Sustainable Urban Living in the GTHA
 684     1 
News   May 03, 2024
RAD's State of the Market 2024 to Feature Talks on AI and Real Estate
 441     0 
News   May 03, 2024
Congratulations to our Avontuura Guides Winners!
 232     0 

If you could purchase a property anywhere in Toronto...

James said:
...where would it be?

And what kind of property would it be? Would you live in it yourself, hold onto it, pass it to the next generation? Or would you hold and sell when the time is right so that you'd move on somewhere else for retirement?

Assuming you have the financial capacity, of course, where would be your ideal location in the city?
Click to expand...




If I could purchase a property in Toronto it would be an apartment near the city center. I am going to live there with my husband, we have just got married)))) So exiting period for us) We are now looking for an apartment in Toronto and I have found some variant that we are going to see next week here
http://toronto.localmartca.com/apartments-condos/ . The price is reasonable. And of course if we are ready to purchase a property, it will pass to our next generations, our children, then grandchildren and so on. But everything depends on a family and its desires.
 
On the theme of passing a property onto the kids and future generations, I wonder how often this is done these days. I do know of a few (just a few) who are/were original homeowners and have subsequently titled it to their kids. If I had to guess, however, I'd say most likely sell the property to liquidate the proceeds for their downsize.

It still amazes me going back 50+ years, let's say, and thinking about the families who bought in what was then the outskirts of Toronto...only to be sitting on what has become today prime Toronto neighborhoods that go for well over $1M just for the lot.
 
I'd buy just outside of areas that are being developed now as they'd be next in line. Ideally, a large chunk of land that could be segregated and sold to developers.
 
This thread reminds me of a couple of people. My older brother roomed with a few guys when he went to university, in the 90s. He asked one of these guys (Stewart) what he would do if he won the lottery. His response is the most unique I've ever heard to this question. He said (I'm paraphrasing), "I hope I never win the lottery; I wouldn't want it to ruin the humble person that I am." Sadly he passed away in a car accident about a year later. The other person I am reminded of is, Roland Keiper (the smartest man on Bay St). My sister used to babysit his eldest son, in the early 90s. Although he was a multi-millionaire, he chose to drive a Honda and he lived on a modest street (Aldenham Cr). https://secure.globeadvisor.com/newscentre/article.html?/servlet/GIS.Servlets.WireFeedRedirect?cf=sglobeadvisor/config_blank&vg=BigAdVariableGenerator&date=20040130&archive=gam&slug=RO2KEPIER-1

Just remember that if you become rich that doesn't mean you need to spend your money outrageously. I think if I won the lottery I would also prefer to remain in a quiet suburban neighbourhood; preferably on a ravine. I don't have any interest in owning a home much larger than 2, 000 square feet.
 
detroitbootybass said:
A humble person doesn't refer to themselves as humble.
Click to expand...

I guess you knew him better than I did. It's not like he went out around bragging about his humility on a daily basis. He was a humble, sweet person; I can personally attest to that. It's not like he had anything to gain by calling himself humble; as opposed to the likes of the Ford Bros. An arrogant person wouldn't make a statement like that -- they'd most likely be very greedy, and would talk about all the superficial junk they'd buy if they became rich.
 
Last edited:
Mr. Fleming, I enjoy reading your blog!

Even when removing financial restrictions, I prefer smaller houses on dense lots on straight, narrow, tree-lined streets (streetcar-suburbs), because I like the aesthetics and don't want the area to be too quiet/isolated. I also prefer to be within walking distance to a commercial main street, and a subway station. I also like areas near the ravines, which are one of my favourite things about this city.

I think the answer changes a bit depending on if we're choosing the place we'd like to live most, or a place we'd believe would have the greatest price appreciation in the future.

I pretty much like the whole area along Yonge between Lawrence & Bloor: Yonge & Eglinton-Davisville, Yonge & St Clair. Easy access to the Don Valley ravine
St. Clair West area, I've always like this area, the hills and character of the houses. Cedarvale ravine
The Annex - amazing Victorian houses, vibrant area
High Park - beautiful houses & the park
Danforth
Cabbagetown

I'm personally hesitant on the areas south of Bloor both in the east and west, since streetcar/bus service seems unreliable and prone to service cuts, and the DRL is probably 10 years away.
 
James said:
...where would it be?

And what kind of property would it be? Would you live in it yourself, hold onto it, pass it to the next generation? Or would you hold and sell when the time is right so that you'd move on somewhere else for retirement?

Assuming you have the financial capacity, of course, where would be your ideal location in the city?
Click to expand...


If I could purchase property in Toronto I would consider Fallingbrook, it’s really nice. It’s when we are talking about Toronto, but why don’t you build your house in suburbs? It’ll be the best variant. The area will be nicer and more quite, and the house will result cheaper for you. Living in Toronto is rather expensive, especially when we are talking about the center area. I’d recommend you to build a new house in the suburbs and live there, it won’t take you long to get to work and other places. Moreover the air will be fresh there. First, I would live there myself and then if I earn more money to purchase something better, I’ll rent the house to tenant till my kids grow and after will pass it to my next generation (you know, property is becoming so expensive, so I feel bad for my kids and others). But it’s up to you to decide. Good luck!
 
I've already left my comments on this thread/ I recommend SLM, Leslieville, Kingsway... but it all depends on your circumstances and what you like. I also wanted to share this as a consideration for people when choosing a street to live on
Taking it to the streets.jpg
 

Attachments

  • Taking it to the streets.jpg
    Taking it to the streets.jpg
    6.9 KB · Views: 975
This would be pure fantasy, but I would love to own a waterfront property on the Toronto Island with views of the city and my own private dock.
I would build a multi-level modern prefab house with a roof terrace and a pool. I'm sure I would piss off a lot of the neighbours.
 
MH57 said:
I'd buy just outside of areas that are being developed now as they'd be next in line. Ideally, a large chunk of land that could be segregated and sold to developers.
Click to expand...

As an agent, I get asked that all the time. "Find me land that can become the next developed area and I'll be rich." Just so you know how the system works, those lands have been owned by developers for DECADES! The farm beside my grandmother's house in north Oakville was owned by a developer in the 1960's and is still a farm (then, it was rented back to the farmer/previous owner at a reduced rate). Not developed yet, but still held by a developing corporation.
 
Lots of great responses in this thread, ranging from tried and true "blue chip" neighborhoods to unique enclaves to up-and-coming neighborhoods. Very fascinating to see where people would buy when financial limitations are not a factor.
 
You must log in or register to post here.

Back
Top