new detached home in brampton..need opinion

Feb 9th, 2017 5:18 am

#1

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 9th, 2017 5:18 am

new detached home in brampton..need opinion

seems a good price with finished basement but worried it might go into multiple.

https://www.realtor.ca/Residential/Sing ... -Bram-East

what would be a decent price for these kind of homes?

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Feb 9th, 2017 6:50 am

#2

Kkhan15: Deal Addict; Jan 1, 2013; 1834 posts; 1051 upvotes; Durham

Feb 9th, 2017 6:50 am

To be honest, if you're looking to buy you should have an agent that should be able to provide you those numbers and pull recent sales.

I used to live in Brampton and I'm now in Durham, but talking to my agent trying to help my parents out, in general Brampton bidding is not as high as other parts of the GTA and actually is somewhat slower. Based on just general knowledge of the current market and that area, I don't think it would go much higher then $950 if that.

But again, if you're looking to buy you need an agent. Looking on your own in advance before does not work well in the market these days.

+1

Feb 9th, 2017 7:03 am

#3

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 9th, 2017 7:03 am

thanks..

Feb 10th, 2017 4:09 pm

#4

torspiker: Sr. Member; Sep 16, 2010; 888 posts; 321 upvotes; Toronto

Feb 10th, 2017 4:09 pm

I heard Mattamy may soon be releasing some new lots of detached homes. You can look into those if you don't mind buying pre-built houses.

Feb 10th, 2017 5:29 pm

#5

crystallight: Deal Addict; Dec 27, 2011; 3512 posts; 1779 upvotes; Waterloo

Feb 10th, 2017 5:29 pm

What's the purpose of the room right when you enter the house? It's too big to be a hallway and it's not the living room.

Feb 10th, 2017 7:30 pm

#6

Williams75: Banned; Apr 14, 2014; 34 posts; 3 upvotes; Mississauga, On

Feb 10th, 2017 7:30 pm

crystallight wrote: ↑ What's the purpose of the room right when you enter the house? It's too big to be a hallway and it's not the living room.

That's most likely a walk though living dining room which has become popular with smaller lots and garages being pushed into the main floor of the home.

+1

Feb 10th, 2017 9:40 pm

#7

fdl: Deal Fanatic; Dec 5, 2009; 5687 posts; 3434 upvotes

Feb 10th, 2017 9:40 pm

Here is the most recent sale from the same street. Unfortunately it's from 5 months ago, which is an eternity in today's ,market.

MLS NO.: W3561085
Listing Price: 869500
Status: Sld
Sold Price: 850000
Sold Date: 2016-08-05
Type: Detached
Style: 2-Storey
Bed Room: 4
Washroom: 4
Lot Frontage: 38.06
Lot Depth: 90.22

http://watch.ohmyhome.ca/#/mls/W3561085

+2

Feb 11th, 2017 5:47 am

#8

BiegeToyota: Deal Addict; Dec 13, 2016; 3714 posts; 3214 upvotes

Feb 11th, 2017 5:47 am

5 toilets. That's 500k right there. I'd go for it.

Feb 11th, 2017 7:50 am

#9

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 11th, 2017 7:50 am

thank you all for your opinion and the private messages. well I went through with my realtor and finally got to see it. house was excellent in condition and also it seems finished basement detached homes was the talk of everyone. people were lining up to see it like crazy, 8 showings just in front of us while we waited for our time, are there is no detached home left anywhere in the town? would put in my offer and try my luck. it seems homes in the vicinity sold for 850-975k in last 6-12 months so its definitely under priced but I love this home

Feb 11th, 2017 8:27 am

#10

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 11th, 2017 8:27 am

fdl wrote: ↑ Here is the most recent sale from the same street. Unfortunately it's from 5 months ago, which is an eternity in today's ,market.

MLS NO.: W3561085
Listing Price: 869500
Status: Sld
Sold Price: 850000
Sold Date: 2016-08-05
Type: Detached
Style: 2-Storey
Bed Room: 4
Washroom: 4
Lot Frontage: 38.06
Lot Depth: 90.22

http://watch.ohmyhome.ca/#/mls/W3561085

it was sold in May last so year so almost a year ago and things have changed a lot as you said
there was another one sold a month ago for 900k

MLS NO.: W3678075
Listing Price: 899900
Status: Sld
Sold Price: 900000
Sold Date: 2017-01-13
Type: Detached
Style: 2-Storey
Bed Room: 4
Washroom: 4
Lot Frontage: 38.06
Lot Depth: 90.22

unfortunately our realtor said those two home were a little different and it does not have a new finished basement which gives option of reducing mortgage payments from rental income. california shutters, washer/dryer pantry etc etc.

Feb 11th, 2017 8:37 am

#11

fdl: Deal Fanatic; Dec 5, 2009; 5687 posts; 3434 upvotes

Feb 11th, 2017 8:37 am

Finished basement is maybe $20-$30k difference. I wouldn't put more value than that.

But it seems a pretty safe bet this house willl get multiple offers based on the demand. Good luck.

Feb 14th, 2017 10:19 pm

#12

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 14th, 2017 10:19 pm

I bid almost 90k over asking still lost it . is the world gonna crash soon? dejected. where to look for a detached home now?

Feb 14th, 2017 10:28 pm

#13

BiegeToyota: Deal Addict; Dec 13, 2016; 3714 posts; 3214 upvotes

Feb 14th, 2017 10:28 pm

Hamilton?

Feb 14th, 2017 10:29 pm

#14

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 14th, 2017 10:29 pm

what are nice areas in hamilton to look for? can you get a relatively new detached there for close to 600k?

Feb 14th, 2017 10:36 pm

#15

BiegeToyota: Deal Addict; Dec 13, 2016; 3714 posts; 3214 upvotes

Feb 14th, 2017 10:36 pm

There are no nice areas in Hamilton, but it seems like prices have also doubled in the past 4 years. However, the downtown which used to be a dump is getting some investment and nice condos are being built.

You can get a house in Hamilton for less than 200k, but you'll probably want to live somewhere near limeridge mall where it's nicer and houses are more expensive. Still.... A lot of choice for under 600k

+1

Feb 14th, 2017 10:54 pm

#16

dreamzdesi [OP]: Newbie; Jul 5, 2015; 11 posts; Mississauga, ON

Feb 14th, 2017 10:54 pm

this helps

Feb 14th, 2017 11:06 pm

#17

CdnRealEstateGuy: Deal Fanatic; Feb 2, 2014; 8885 posts; 2543 upvotes; Toronto

Feb 14th, 2017 11:06 pm

dreamzdesi wrote: ↑ what are nice areas in hamilton to look for? can you get a relatively new detached there for close to 600k?

Why don't you just buy an older property in the GTA instead of moving out to Hamilton? For $600k you still have options in the GTA.

You can get something decent in Upper Hamilton for around $400k - $500k,

Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative