Luxury waterfront property in Oakville ! | Page 12 | FerrariChat

Luxury waterfront property in Oakville !

Discussion in 'Canada' started by MS250, Sep 25, 2015.

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  1. I.T. Guy

    I.T. Guy F1 World Champ
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    If you want to move up, sooner is always better than later. The longer you wait, the bigger the delta between neighborhoods.
     
  2. FCat360

    FCat360 F1 World Champ

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    PM Sent
     
  3. I'm 360 Canuck

    I'm 360 Canuck Formula 3

    Nov 21, 2015
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    Lars!
    Depends if you think there's a bubble or correction coming....as well as the debt load you are carrying.
    I think "always" type sayings are an oversimplification in business.
     
  4. I.T. Guy

    I.T. Guy F1 World Champ
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    Yes in retrospect you are correct there is no place for absolutes.


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  5. AceMaster

    AceMaster Three Time F1 World Champ

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    The only guarantee is there is no guarantee :D
     
  6. AceMaster

    AceMaster Three Time F1 World Champ

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    The report says they are a small fish in a big pond.
     
  7. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
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    London is getting ridiculous.

    My brother, who bought his house 8.5 years ago for $190,000, and got an offer just 1 year ago for $224,000 but declined it, decided to re-list it last Thursday.

    He listed for $269,900 and had about about 70 people over two days either call about it or come view it. Saturday afternoon he was offered $310,000 and he took that offer. That was only the 2nd offer he received (first one was $287,000). I am curious what he would have gotten if he waited for a few more offers.

    I have four rental properties myself, and never thought I would ever sell for a long time, but I am seriously considering listing at least one of them to see what offers I receive. The one I am considering is one I bought in November of 1998 for $133,000. Based on my brother's scenario, I am thinking at least $350,000. It is a very nice 2-story 3-bedroom home with a large backyard and tremendous curb appeal and attached single garage. Public school and high school within less than 5 minutes of walking distance.

    What would you guys do if you were me?
     
  8. MS250

    MS250 Two Time F1 World Champ
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    Mike just to give you some context. The numbers you mentioned in London , for the GTA area you would need to add another digit today.

    Selling is really dependent on your tax bracket, and capital gains vs rsp contributions vs current income. I would strongly suggest to speak with a tax specialist first before you did anything and build out a plan where you can make the most net money.
     
  9. AceMaster

    AceMaster Three Time F1 World Champ

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    Believe me, I know - Toronto's average is $1.2 million whereas London is $320,000.

    When I said ridiculous I meant ridiculous for London. :D


    That's great advice, thanks.
     
  10. AceMaster

    AceMaster Three Time F1 World Champ

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    and my situation just got even more complicated....I've informed the tenants that I may sell, and they have offered to pay me an extra $400-$500 per month if they can stay for 1-more year as they planned on moving out west in the summer of 2018.

    A few factors involved:

    1) Will the market be this hot next year?
    2) if the answer to number question one is no, will that extra rental revenue cover the cost of the difference that I may lose between now and next year?

    Of course, these questions are impossible to answer without a crystal ball....
     
  11. MS250

    MS250 Two Time F1 World Champ
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    Mike, Treb just released their April numbers today. I would research your area and map out 12 months of previous history.

    Too many small factors that could go wrong or right to cause an effect either positive of negative. Supply levels are still very low in the GTA compared to just 10yrs ago, even though listings have jumped 33% - have to be careful with the fake news ;) ....still short supply, and prices jumped again on "SOLD" not asking prices.

    Consumer debt is at an all time high, yet the job market and realestate market in Ontario is strong. As long as the jobs stay, and no real major hiccups, the needle will stay on the record. Interest rates are not going anywhere, the government has indicated that they are fine with a .70 cent dollar and lower.

    If I had that crystal ball I could tell you with certainty :) whatever you decide, you are in a win /win situation, as you have been a long time investor and landlord, don't let anything cloud your judgment to make a fast decision. I recommend you set out a financial and tax plan that yields the most return. Sometimes it's financially better to forego the extra 10k in sale price for the net return in your bottom dollar.

    Good luck - p.s I'm still not afraid of buying into this market, I would just be more selective :)

    http://www.trebhome.com/market_news/market_watch/2017/mw1704.pdf

    -:: Toronto Real Estate Board ::-


    == TREB NEWS RELEASE ==
     
  12. AceMaster

    AceMaster Three Time F1 World Champ

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    Thanks Rick.

    I certainly will not rush. I will take my time and make the right decision, the worse that will happen is I dont get the price I want and continue to rent then try selling again next year or in a few years.
     
  13. I.T. Guy

    I.T. Guy F1 World Champ
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    So what's everyone's opinion on Stoney Creek?
    I'm thinking waterfront will always stay flat or go up even in a Toronto crash?
     
  14. AceMaster

    AceMaster Three Time F1 World Champ

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    I agree, you can never go wrong with watefront
     
  15. gerritv

    gerritv Formula 3

    Jun 18, 2001
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    Not a lot of space between the lake front and QEW in that area, you will not have peace and quiet. Also subject to intense intensification efforts. OMB will likely side with developer if you protest neighbouring developments.

    Sooner or later this will be fully built out with high rise and townhouses. A bit further east you have Winona and a live fire range used for rifle competitions although this year limited to Apr and May.
     
  16. I.T. Guy

    I.T. Guy F1 World Champ
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    I'm a firearms guy :) wouldn't bother me.
    Good call on the QEW noise I'll have to park and listen.
    2nd choice is Jordan 3rd niagara on the lake but from there the Toronto skyline is not as awesome.
    I want riparian rights and that narrows it down to older. Everything new the gov't has public land for paths etc.

    I viewed this last week
    Image Unavailable, Please Login


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  17. Shaun Oriold1

    Shaun Oriold1 Karting

    Mar 21, 2008
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    shaun
    That backyard looks familiar. Edgewater Dr? My company recently did some work in one of the houses, very close to the edgewater manor end of the street The owner bought the house 15+ years go, and kept it as a weekend home, and recently moved into it full time. HE commutes to Etobicoke a couple days a week. Semi-retired if I recall. The view is awesome. I was waiting for the interior designer to arrive one time on a cold windy day this past winter. The waves were mesmerizing. They're older houses, and need some work, but the location cant be beat. - not sure if they have riparian rights though....

    For some context, one of my employees bought at 50 rd. He's on a street called Crenona. At the end of the court. He paid $260 for his house 10+ years ago, and had realtors knocking on his door regularly "offering" him $7-800. They're about to reno the place, and add a proper second story to keep up with the neighbour hood. Plus they need the space/garage. He and his 6 other neighbours have a private beach. Locked with a key. Not sure about 1/7 riparian rights, but I doubt it.

    You wont go wrong down that way. Assuming no accidents, it takes him 12-15 minutes to get to my shop which is at Brant St/ QEW. Some of the houses are really dumpy though. You wouldnt go wrong with buying a former cottage, and building a house.


    s.
     
  18. gerritv

    gerritv Formula 3

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    Jordan area has Lakeshore Rd running between the houses and the lake, not what you are looking for I think.
    Use Bing maps and satellite imagery to look. E.g. between 7th St and Port Dalhousie there are a lot of lake lots. A far better location that NOTL as there is poor access to NOTL and you get tourist trap pricing along with tourist traffic all year long. We live in St C but rarely go to NOTL itself for this reason.
     
  19. I.T. Guy

    I.T. Guy F1 World Champ
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    I've looked for 10 years :)
    Victoria Shores is right on the water
    I know all the spots from Stoney creek to Niagara on the Lake, and what views of Toronto are good,
    Where there is beach and where there is breakwall,
    Where there's riparian rights and where there's a road or public path,
    What taxes are, etc.
     
  20. I.T. Guy

    I.T. Guy F1 World Champ
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    Yes Edgewater
    It's attractive to me as there is the restaurant, it's only 1/2 hour drive from my primary residence, so I'll probably use it a lot more than say a cottage 2 hours north.


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  21. AceMaster

    AceMaster Three Time F1 World Champ

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    House across the street from mine, which isn't nearly as good, listed for $299,999 last week and sold yesterday for $361,000 firm.

    Unreal....
     
  22. 412monzaindy

    412monzaindy Formula Junior

    Mar 8, 2005
    876
    Ontario Canada
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    PBI
    I will be listing my home in Old Oakville, one block from the lake. 2 blocks south of lakeshore.105 x 105 lot, 2500 sq ft bungalow, double garage.

    If anyone is interested send me a note.
     
  23. tantumaude

    tantumaude Formula Junior
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    Mar 3, 2016
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    Burlington, Canada
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    Mat
    Take my 456 as part payment? :) Wish I could afford that neck of the woods.
     

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