...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?
From an investment perspective, I'd be interested in purchasing a property at the Yonge and Eglinton area. I'd mainly consider purchasing a house. I would have to crunch some numbers to determine if it would be better for me to live in a section of the home and rent out the rest or to stay in my current home and rent the entire property
eg. live in basement and rent out main and upper floors.
What attracts me to the area is the developments going on.
-Yonge subway
-Potential above\below ground LRT (I hope they put it below ground the whole way)
-New condos with retail amenities
-Rejuvenation of the RIO can building (check out the display in their building)
-New Urban Outfitters and Messini's (great Greek restaurant)
-Turning into a posh nieghbourhood with upper class residents.
-The offices are not quite their yet in the dress apparel, but it appears to be moving more towards dress pants and dress shirt companies, instead of jeans and a t-shirt.
If condos are being built attached to a high schools, there's definitely a demand in an area with limited land. Several condo constructions are having home torn down as well.
In terms of hold period, it would depend on cash flow generated, appreciation or maybe I'd like to live in the home in the future.
There are currently bidding wars going on in this area over semi detached homes for 700k+. Detached homes are easily 1 million plus.
Just some ideal thoughts currently on my mind...