Real Estate

[GTA] Durham Region Developments Mega Thread

  • Last Updated:
  • Jan 25th, 2020 7:25 am
Newbie
Feb 8, 2017
42 posts
5 upvotes
Rangeroverdd wrote:
Jun 5th, 2017 6:31 am
1. Resale market is more affordable and more home for what you pay given the current market cool down.
2. Seaton' s biggest homes are still on a 45 ft lot. Only few releases of these too.
3. Feel like houses were sold based on excitement, exclusivity, and the need to have before it's gone mindset.
4. For seaton homes to appreciate, when it is time for Resale, number of buyers for 1.5-1.9 mill homes in a construction zone/ still developing area will be low.
5. If market takes a dip, you're looking at a 20% drop in value give or take.

Even if you bought a decent townhouse, after upgrade fees, any capped fees, closing fees, taxes, and a wishful profit margin, you better sell that decent 800k plus town home you purchased for around 1-1.1 mill.

Not including that seaton is a 15 stretched plan, no one will buy a town for that figure when they can easily buy a detached house from resale markets. It is not financially viable.

I had a Thursday appointment and thought about getting a house either for investment or a move in home. Either didn't make sense.

In the end, if people can afford it and don't care about other factors then I'm happy for their purchase. But for Me, I want to make sure I get the most out of the biggest purchase I'll ever make.
Remember last year June the brockton trails project, semis were selling for 640 - 700k 2,000 + sqf and people were saying its CRAZY. At least this was at 401 and Brock Road closing to GO train etc.
Newbie
Mar 6, 2017
17 posts
1 upvote
phoenix_bladen wrote:
Jun 4th, 2017 2:47 pm
I'm interested in getting a town house for around 600 resale, if possible.

Wondering if u guys could give me some tips for that.
You might be able to get that in Ajax right now due to the current market cooldown. The 3 bed/3 bath towns that were previously listed for 600K and going for $670 to $700 a few months ago, are now going at the listing price or a little above asking.
Deal Addict
User avatar
Mar 14, 2006
4302 posts
533 upvotes
keep in mind that newer homes haven't dropped much, still bidding war or at least 100k+ over asking if it's priced to attract bid war. there are some that are priced at February sold prices, but those are staying in the market longer. older homes in durham has lots of value right now.
Sr. Member
May 6, 2015
656 posts
164 upvotes
Unionville, ON
A lot of people that i spoke to who received these invite links (actual friends/family not via RFD) were shocked at the prices. I know of 5 people that didn't even bother to go to the appointment after booking it b/c the prices were shared with them via agents.

Not surprising that they're almost sold out b/c my cousin drove by on saturday and he said the line up was huge. Police officers were directing traffic. From what i heard, it was busy but civilized. I guess we'll have to wait and see for Lebovic to drop their release next.
Newbie
May 26, 2017
12 posts
9 upvotes
Thanks for posting these prices!

Do you recall roughly how many lots were left for sale?
Member
Aug 30, 2009
252 posts
28 upvotes
Toronto
So to summary, they almost sold out mostly because of the fliipers but not actual people need for living ?
Exactly same thing in Ajax Sundial home right now, 5 of them listing on the same street same price
Newbie
Feb 8, 2017
42 posts
5 upvotes
Is it reasonable to say these flippers have a lot of cash lying around, I mean on top of the deposits required for these new builds? I am wondering how much risk these flippers are taking? If there a cash crunch and they are unable to sell quickly, are they screwed?
Member
Jan 31, 2016
376 posts
97 upvotes
Toronto, ON
ZachKhan wrote:
Jun 5th, 2017 10:51 am
Is it reasonable to say these flippers have a lot of cash lying around, I mean on top of the deposits required for these new builds? I am wondering how much risk these flippers are taking? If there a cash crunch and they are unable to sell quickly, are they screwed?
Some, not all, are tapping into their current primary residence equity and using a Heloc for the deposit.
Member
Jan 31, 2016
376 posts
97 upvotes
Toronto, ON
Heisenborg wrote:
Jun 5th, 2017 10:25 am
Thanks for posting these prices!

Do you recall roughly how many lots were left for sale?
If you are asking about the Bowmanville price lists I am not sure how many lots are left. I knew they would be pricey$$ so I did not bother going. Got the images from another site.
Sr. Member
User avatar
Jan 30, 2008
580 posts
96 upvotes
We went to the appointment on Saturday and by the time we got there, there was one 30 or 36 lot left, the rest townhouses. We still went in as no harm in doing so. The 10 minutes we were there was worth it for us.

When we first heard about the neighbourhood concept in NS a couple years ago, we were thinking they would release each neighbourhood in a phase (ie 6 phases) but now we see how little they released this time and that their next release is expected September with approx 100 units per builder. We want the north end and that will take about a decade (whereas we were thinking a few years) so for now, we're going to sit tight where we are.

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