Real Estate

Boxgrove village

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  • Sep 6th, 2017 5:26 pm
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[OP]
Newbie
May 20, 2015
68 posts
262 upvotes
Richmond Hill, ON

Boxgrove village

Anyone knows why the prices are so high for this site? Builder Arista.
Location: Ninth line.
1600sqft townhomes starting from mid 1M which I'm assuming to mean $1.5M
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39 replies
Deal Guru
Feb 22, 2011
13073 posts
16674 upvotes
Toronto
Seems like all new builds are charging a premium these days. Probably has something to do with limited inventory of new construction. Only about 7000 as of last month when last year was 17,000 and 10 years ago was 28,000. There's a development in my city that is asking $800k for a 2 bedroom bungalow when you can buy a 4 bedroom , 2 story, 2 car garage house that is 15 years old across the street for $700k.
Banned
Aug 10, 2017
198 posts
119 upvotes
Wow a mill and a half for a townie. $6000 a month for 25 years with a $300K down payment. For a townie.. DAMN. I paid 350-4 for my Ancaster townies.
Deal Addict
Jul 27, 2017
2180 posts
949 upvotes
I know the area well, Boxgrove is snobsville + it's Markham Ontario. Rural (so they say) golf course, parklands. I wouldn't if I could afford it

The once sleepy hollow that in rush hour traffic you'd think you were on a mini-400 series highway as well as on top of the 407 expressway
Member
Jun 15, 2017
298 posts
129 upvotes
Seems many builders are selling across GTA now.
Mattamy in milton, brampton, whitby, RH
Paradise in brampton
Arista in markham
Many more...
More than anyone i guess these builders would have an idea on when will market move...
Deal Addict
Aug 28, 2014
2548 posts
714 upvotes
Toronto, ON
Tons of immigrants with money to launder, some one has to take it all.
Member
User avatar
Dec 17, 2009
254 posts
179 upvotes
Doesn't "mid $1 million" mean $1.05 million ($1,050,000)? Because at the bottom it said "high $1.7 million", which I assume to be $1,790,000 or something. Those prices seem more reasonable.
Member
Jun 15, 2017
298 posts
129 upvotes
S52B wrote: Doesn't "mid $1 million" mean $1.05 million ($1,050,000)? Because at the bottom it said "high $1.7 million", which I assume to be $1,790,000 or something. Those prices seem more reasonable.
1.7 for live work i guess
1.05 for traditional town... same price in april
Jr. Member
User avatar
Aug 21, 2011
173 posts
31 upvotes
MONTR
I used to live in Markham right by Box Grove Bypass, the builder was Arista. This was almost ten years ago - purchased for 475k at the time, and sold it two years ago for 805k. There is definitely a lot of foreign money in this area - one of the reasons for the bidding wars. This area has definitely gone up price, and frankly over priced now.

Took the money, and purchased a new 4-bedroom in Mississauga near Winston Churchill / Elbern Markle.
Deal Addict
Sep 13, 2016
3463 posts
2238 upvotes
Mississauga
Lol what is mid 1Mil and High 1.7 Mil.
Member
Mar 3, 2016
389 posts
250 upvotes
I know the area. The only positive I see is that this development is between the two retail plazas in the area but then you have Hwy 407 as your direct neighbour on the back, something which they conveniently omit from the site plan. I wonder how's the noise level with a highway in your backyard. Also, access to hwy 401 from this area is always a nightmare with all traffic turning left on Ninth Line from the 2 lanes Steele Avenue there. Also, it's definitely not walking distance to Hwy 7 for access to VIVA. But then if you are spending >$1million on a townhouse, I don't think you would care about access to public transit. Much better value somewhere else for a townhouse.
Deal Guru
May 1, 2012
10423 posts
11100 upvotes
Toronto
Crappy area, don't buy this. It's no where near worth that much.
Deal Fanatic
Dec 5, 2009
5755 posts
3589 upvotes
IndyBeak wrote: Lol what is mid 1Mil and High 1.7 Mil.
I was wondering the same thing. These guys are out to lunch.
Deal Expert
Jan 15, 2006
19670 posts
20102 upvotes
Richmond Hill
That is a crap area of markham. 407 noise isn't that bad as it isn't heavily used like other 400 series.
Deal Fanatic
Mar 27, 2004
7976 posts
5993 upvotes
Toronto
Boxgrove is a crappy area of Markham.
Full-time Realtor
Deal Addict
Jan 15, 2010
1513 posts
1868 upvotes
Toronto
Honestly, how many people can really afford 1.5 mil for a townhouse in the far reaches of Markham? Wtf? There can't possibly be that many households making 300K.
Deal Guru
User avatar
Feb 2, 2014
10408 posts
3044 upvotes
Toronto
DaMan12 wrote: Honestly, how many people can really afford 1.5 mil for a townhouse in the far reaches of Markham? Wtf? There can't possibly be that many households making 300K.
Are you making the assumption that buyer's are putting 0% down?

On a $1M+ property, the minimum down payment is 20%. Most lenders have sliding scales, which means they will have to put even more than that down.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Expert
User avatar
Jan 27, 2004
50485 posts
14811 upvotes
ONTARIO
DaMan12 wrote: Honestly, how many people can really afford 1.5 mil for a townhouse in the far reaches of Markham? Wtf? There can't possibly be that many households making 300K.
It could be people moving up.
Imagine youre some 45 year old guy. You started your family life 15 years ago when you were 30. You Bought detached house with your wife in markham Ontario.
Boom 15 years later your $350k house is now $800k.

Thats like a $700k "downpayment".
Those are probably the people who buy it... the ones already in. Or like you said... the filthy rich or people with really REALLY good jobs.
Deal Expert
User avatar
Jan 27, 2004
50485 posts
14811 upvotes
ONTARIO
oasis100 wrote: Boxgrove is a crappy area of Markham.
Hey hey... they got a walmart, home depot, dollarama and a plaza near by. So the suburban dream there is fufilled!

But it really needs a costco and big community center nearby to keep the community happy.

But how's the library and schools?
Deal Fanatic
Jul 3, 2011
6517 posts
3788 upvotes
Thornhill
Why are you guys picking on Boxgrove?

It has some very nice and well built homes far better than most of Cornell, some pretty streets, fair amount of diversity, the best Walmart in Markham bar none. The best grocery in Markham east of Woodbine bar none, great access to the 404, is 7-20 minutes away from Home Depot, Costco, and Canadian tire all those places at Markham Rd and 14th Ave.

And I don't even live there but I'm there a lot and have clients in beautifully, well constructed Greenpark homes that cost a fair penny to buy these days.

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