This is not your usual home.
This house is one of the examples of how crazy can the real estate market get in Toronto Canada.
The house that is situated at 154 Hamilton St. is set back more than a dozen meters from the sidewalk. This is something that you need to look for yourself to believe.
The size justifies the many titles that have been granted to the most famously known “Doll-House”
The house does not seem like much and has been referred to as looking out of normal by the neighbors. Looking at the structure anybody would say the same.
But then why are people striving for getting a hold of it?
Well, it has become a bit of a tourist magnet due to the high exposure it has gained from the media. This has allowed a lot of viewers to be intrigued about the house making it one of the most valuable houses in recent times of trading in the real estate market.
The 1,300-square-foot house is four stories tall, with floor-to-ceiling windows. A portion of the house is cantilevered — protruding and elevated from the ground. It was built after a protracted battle that pitted owners of the property against the local councilor and several nearby residents — including a next-door neighbor who had limbs from her silver maple cut off two years ago during the home’s construction.
The house was made by Kipping and Mantzoris who were the original architects of the house. They had an amazing idea but the real problem began when they wanted to get this approved by the authorities.
The main issue there was not the actual size but the four stories that the house would be built on. Getting approval for such a house is difficult and well eventually everyone came across and things flourished in there seem to favor.
According to property records, Kipping and Mantzoris sold the property for $530,000 in 2016 to Borovsky, who constructed the existing house.
But then later on during the Canadian real estate market boom things really started to steer up for the little house giving it a much bigger name than what it actually deserved (according to some) and the rest is historied.
Now the house has become quite famous for its out-of-the-box look and is attractive because of the high value that it has recently been retailed for. approximated around $ 3 Million. This is certainly something that you would be considered to be a luxury house but in reality, it is simply just a simple 4 stories house.
The real estate market in Toronto is already on fire but houses like these are good attention-grabbing opportunities for people that would like to make more money than what the house or land is actually worth. I believe that to be the real investment in real estate.
These houses fetch crazy levels of ROIs for the investor but creating a trend out of these would only be reducing their value rather than increasing them. Let’s see how long can the value remain inflated.
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