The news reports have been saying over the last month or two that our housing market here in Toronto was starting to get back to normal … well not totally normal, but close, and now I have true proof that it is indeed getting better. recession
My brother and his wife who live just outside of town decided to buy a Condo around the beginning of May. Their kids are in their 20’s and they don’t need a big house and all the maintenance that goes along with it anymore, so I guess that’s why they decided to move to a Condo.
They put their house up for sale on May 10th and it was sold on the 27th … not bad for a housing market that’s not quite as hot as it was two years ago! Hmmm I wonder if the people that own the house next door (currently inhabited by renters that are slowly driving me nuts) might decide to put that house on the market again soon? That house needs a lot of work though so I’m sure it wouldn’t sell fast without at least some of the work being done.
I was talking with my brother this evening and he was telling me about their new condo. It’s 1,400 square feet so it’s a good size. Two bedrooms, kitchen, sun room, living room/ dining room, balcony and all the amenities that go along with a condo such as party room, swimming pool, sauna and rooftop barbecues I think. Sounds pretty nice.
The building is about twenty years old and my brother says the kitchen is outdated so they are doing to renovate the kitchen shortly after moving in. They redid the kitchen in their current house too so I joked with him that he’s going to be a professional kitchen renovator by the time he’s finished the condo kitchen! They don’t know exactly what kind of kitchen reno they’re going to do just yet – ie tile floors or hardwood, stainless steel appliances or who knows maybe even copper sinks but I’m sure they’ll enjoy figuring it out and of course the finished product. It’s the work in between that might be a pain! LOL
I used to say I’d never live in a condo – especially after living in an apartment for 14 years before we bought our house. But now that I’m so sick with Crohn’s I can see the advantages of not having to trudge upstairs to use the bathroom and not having yard work and home maintenance to do!
How is the housing market in your area? Did it bottom out once the recession hit and is it recovering now like ours here in the General Toronto Area (GTA)?
